The Gold Coast in Queensland, Australia, has rapidly become one of the country's most expensive rental markets, with escalating prices and limited housing options. As of early 2024, the area has surpassed Sydney, Melbourne, and Brisbane in rental costs.
According to ABC News, the median rent in the Gold Coast stands at $850 per week for a home and $680 for a unit, reflecting a 7.1% increase over the past year. Tenants are now spending close to 50% of their paychecks on rent, with some residents working six-day weeks to make ends meet.
