Recent data has revealed that South Africans living in major cities spend between 26% and 30% of their monthly income on accommodation. Johannesburg has been dubbed one of the most affordable cities for employees who rent their homes.
Adzuna, a website that lists vacancies across South Africa, has released new information on the cost of living in some of the country's biggest cities.
Comparing more than 140 000 job listings and rental costs from some of Mzansi's biggest property sites, Adzuna commented that:
“When Adzuna analysed its data and compared it to the average rental price across South Africa’s nine provinces and major city centres, their findings were indicative that the average household spends between 26% and 30% of their monthly income on accommodation.”
When considering average monthly income and the average prices for rentals, here are the most affordable cities to rent a home in:
- Polokwane- 12% of monthly income spent on rent
- Port Elizabeth- 15% of monthly income spent on rent
- East London- 15% of monthly income spent on rent
- Johannesburg- 16% of monthly income spent on rent
- Pretoria- 17% of monthly income spent on rent
Jesse Green, country manager at Adzuna, commented on some of the highlights in the results, saying that:
“This year, Johannesburg has again come up as one of the most affordable cities for employees who rent accommodation."
Green said that, while cities like Port Elizabeth are among the nation's most affordable rent-wise, better pay in cities like Joburg and Pretoria make them equally as affordable for renters.
Locals who live and work in Cape Town fork over the largest portion of their pay for accomodation, spending an average of 27% of their income each month, reports Business Tech.
Sandton follows close behind, with 26% of their salaries given up to pay for their rent. To keep rent down, individuals who work within the busiest hubs often choose to reside outside of the city limits.
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