Question 1

Is Renown Park a nice place to live?

Accepted Answer

Renown Park is an inner-north Adelaide pocket of mostly single-storey weatherboard and brick cottages, with pockets of light industry and some infill redevelopment. Streets are compact and laid out on a clear grid, and everyday needs are met by local shops and community facilities while larger retail and dining precincts sit in neighbouring Croydon and Brompton. It attracts long-standing locals and newcomers looking for relatively affordable inner-city access, and has regular buses, nearby train lines and easy links to the main arterial roads.

About 1,663 people live in Renown Park and the median age is 37, with a median household income of $1,164 a week. The community is weighted towards couple families and homes are more often rented than owner-occupied (52.6% rented, 47.4% owner-occupied). The suburb sits alongside the South Road upgrade and the council is planning water sensitive urban design, increased tree canopy and improvements to Angus Court Reserve; whether that mix suits you depends on what you are looking for.

Question 2

Is it expensive to live in Renown Park?

Accepted Answer

Rents in Renown Park take a large share of a typical local household's weekly income as recorded at the most recent Census. A house rent of $625 a week is about 53.8% of that weekly household income, and a unit rent of $500 a week is about 43.0% — both figures represent a large share of income compared with what households locally earned at the last Census.

If you're renting rather than buying, those rent shares are the most relevant measure of how stretched housing costs would be; whether that feels expensive depends on your own income and circumstances.

Everyone's financial situation is different, so it's important to consider your own circumstances when deciding which suburb is right for you.

Question 3

Is Renown Park a good place to invest?

Accepted Answer

House values in Renown Park rose a strong 10.1% over the past year. House rents increased a moderate 4.2% over the same period, so for houses capital growth outpaced rent growth this year; which of those outcomes matters most depends on whether you prioritise price appreciation or rental income.

This information has been prepared without taking your objectives, needs and overall financial situation into account. It is not meant to be a substitute for professional financial advice. For this reason, you should consider the appropriateness of the information and, if necessary, seek appropriate professional advice.

	Houses	Units
Median price Past 3 months	N/A	N/A
Change in value Past 12 months	10.1%	N/A
Sold Past 3 months	4	1
Median days on market Past 12 months	45	N/A
Average rent Past 12 months	$625	$500
Change in rent Past 12 months	4.2%	N/A

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