Renting Guide
What is the average rent in Auckland? (2024)
Find out how much you could be paying (or charging) for your rental
Last updated: 10 October 2024
Auckland is New Zealand’s most expensive city for rental properties, and rent prices have been steadily increasing over the last few years. Here’s everything you need to know.
The average rent price in Auckland
The average rent in Auckland is $690 per week in 2024 (a 4.5% increase over 2023), according to Trade Me Property’s rental data. Rents have been increasing at least three years:
The average rent in 2023 was $660: a 10% increase over the prior year.
The average rent in 2022 was $600: a 1.7% increase over the prior year.
After years of increases, the Auckland rental market was slowing down in mid 2024 and it's possible that prices will not continue increasing at the same rate. Even still, Auckland is the most expensive rental market in the country, closely followed by the Bay of Plenty ($680), HawkesBay and Wellington (both $650).
Average rent for a townhouse in Auckland
The amount you can expect to pay for rent in Auckland obviously depends on the type of house you choose. The average price for a townhouse in the city is $720 per week, with many of these located in central suburbs.
Average rent for an Auckland apartment
Apartments are much cheaper on average than townhouses, costing just $580 per week on average. There are plenty of expensive apartments out there, but the average is brought down by the large number of small, affordable apartments in Auckland’s CBD.
If you’re looking for something affordable, units are even cheaper than apartments, averaging $560 per week in the Super City.
Make sure you only pay what's fair.
What’s happening with Auckland rent prices?
The Auckland rental market has been red hot for years, but there are signs that it’s cooling. Supply has increased nationally by 26% while demand has fallen by 30% in May 2024 compared with May 2023.
Trade Me Property Customer Director Gavin Lloyd said the change in market dynamics means that prices may stay flat for a period.
"It's been painful for renters in recent years. Following record-high rents, it looks like we're finally seeing some much needed supply being injected back into the rental market. That's taking pressure off for those looking for a rental, with more options available."
Demand has fallen for the seventh consecutive month, which may be a result of Kiwis immigrating and more Kiwis buying their first homes due to price decreases. The high cost of living may also be playing a part - after all, moving house is expensive and people may be putting it off until later.
As well as all this there has been some tax relief and relaxing of rules (like the brightline and eviction clauses) for landlords, which may help alleviate rent increases in the longer term.
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