Sydney median rent hits record $800 a week amid housing supply crunch

Key points

• Sydney's median rent has hit a record $800 a week, up 6.7 per cent over the past year, according to Realestate.com.au's Rental Report for September 2026. Renters are paying about $2,600 more a year than in 2025.
• REA senior economic analyst Megan Lieu said limited rental availability and population growth are key drivers. Vacancy rates have edged up to 1.7 per cent, giving renters more choice, though Ms Lieu expects rents to keep growing more slowly.
• Barangaroo has the most expensive rentals, while suburbs in Sydney's west are the cheapest.