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Hume's Mortgage Non-Stress: A Comprehensive Ranking of Suburbs with Affordable Housing Options
Mortgages are less than 30% of household incomeThe Mortgage non-stress data can be useful for property investors and those looking to move as it provides an indication of the affordability of mortgages in different suburbs. This information can help investors identify areas where they can potentially find properties that are more affordable for potential tenants, which can increase the demand for rental properties in those areas. For those looking to move, this data can help them identify suburbs where they can potentially afford to buy a home without experiencing financial stress. This can improve their overall quality of life and reduce the risk of financial hardship. Additionally, this data can also be useful for assessing the livability of different suburbs, as areas with lower mortgage stress may indicate a higher standard of living and a more stable community. For example, a family looking to move to a new suburb may prioritize areas with lower mortgage stress as it may indicate a more family-friendly community with better amenities and services. Data from 2016
| Area | Value |
|---|---|
| 1. Unincorporated Vic | 95.8% |
| 2. Wodonga | 94.8% |
| 3. Strathbogie | 94.7% |
| 4. Benalla | 94.4% |
| 5. Wangaratta | 94.2% |
| 6. Greater Shepparton | 94.1% |
| 7. Indigo | 93.9% |
| 8. Mansfield | 92.5% |
| 9. Mitchell | 90.6% |
| 10. Yarra Ranges | 90% |
