Home Ownership vs. Renting in Australia: 2021 Snapshot

Australia maintains relatively high home ownership by global standards, though the picture varies significantly by region, age, and income. As of the 2021 Census, approximately 66% of Australian households owned their home (with or without a mortgage), while 34% rented.

State-by-State Breakdown

Ownership rates reflect housing affordability and demographic patterns:

• Queensland: 71.6% own / 28.4% rent
• South Australia: 71.5% / 28.5%
• Western Australia: 70.4% / 29.6%
• Victoria: 67.8% / 32.2%
• Tasmania: 64.9% / 35.1%
• New South Wales: 63.8% / 36.2% (lowest ownership, highest rent)

NSW and Victoria's lower ownership correlates with Sydney and Melbourne's extreme price-to-income ratios. Queensland, SA, and WA benefit from more affordable markets—though the gap has narrowed as interstate migration drove up prices post-2020.

Demographic Drivers

Ownership correlates strongly with age: over 80% for households headed by someone 65+, under 40% for under-35s. Couples with children own at higher rates than singles. Higher-income households are far more likely to own.

Since 2021, rising interest rates have increased mortgage stress while rental vacancy rates hit historic lows, pushing rents up sharply. The 2026 Census will reveal whether ownership has eroded further—a critical question for retirement security, wealth inequality, and housing policy.