Average rental prices in Cape Town

Average rental prices in Cape Town

Category News

Rent is a significant monthly expense for many South Africans and the Western Cape remains the most expensive province when it comes to rental prices. The cost of living in Cape Town compared to Durban, for example, is noticeably higher. A recent PayProp Rental survey indicated that South Africa's average monthly property rental costs R7 778 per month. The Western Cape's average rental is R9 185 per month - almost R1 500 more than the national average.

As a general guideline, monthly rent should not consume more than 40% of your salary or income - and ideally, this should be around the 30% mark. Approximately one third of apartments in Cape Town fall into the affordable bracket (R5000 to R7000 per month), while more than one sixth fall into the expensive bracket (R10 000 or more). The Seeff team takes a look at what apartments in Cape Town typically cost to rent in various parts of the greater Cape Town area.

Southern Suburbs

The Southern Suburbs are popular among young tenants due to the affordability of the area and its proximity to the University of Cape Town. The cost of living for students also includes transport costs, meaning that proximity to campus is a key consideration. The most sought after of these suburbs are Woodstock, Observatory, Claremont, Kenilworth, Plumstead and Diep River.

A one-bedroom apartment in the Southern Suburbs will cost between R6 500 and R10 000 per month, whereas a two-bedroom flat will cost anywhere between R8 500 and R20 000. The most affordable of Cape Town's Southern Suburbs are Plumstead and Diep River. A two-bedroom apartment in these up-and-coming areas is likely to range between R7 000 and R8 500 per month.

Woodstock is still extremely popular but slightly more expensive than the suburbs further south. A one-bedroom flat in Woodstock will go upwards from R8 000 per month, and a two-bedroom apartment will often cost R10 000 a month or more.

Cape Town CBD

The CBD is immensely popular amongst young working professionals who have just entered the job market. The proximity to places of work and reliable inner-city public transport means that the CBD is an accessible location.

A one-bedroom apartment in the heart of Cape Town is likely to cost R7 000 to R9 000 in rent, and a two-bedroom unit can range from R13 000 to R20 000 per month.

The Atlantic Seaboard

Rentals in Camp's Bay, Clifton and Bantry Bay tend to be on the expensive side. However, suburbs such as Sea Point, Green Point and Three Anchor Bay can offer some cosy homes at more affordable rates.

It is possible to rent a studio apartment in Sea Point from approximately R7 500 per month, while a one-bedroom will generally cost between R8 000 and R10 000. The prices of two-bedroom apartments in Sea Point typically range from R10 000 to R13 500 monthly.

Looking at the neighbouring suburb of Green Point, you can rent a one-bedroom apartment for approximately R8 500 per month, while two-bedroom apartments attract monthly rentals of between R10 000 and R25 000. For a three-bedroom apartment, expect to pay anything from R16 500 to R30 000 or more. Even a luxurious two-bedroom apartment can have a price tag of R30 000 per month or higher.

In the nearby and well-loved Three Anchor Bay, one-bedroom apartments start in the R9 000 per month ballpark, while a two-bedroom home can cost around R15 000 per month. Three-bedroom apartments in this sought-after area range in price from approximately R14 500 to R27 000 per month.

Blouberg

For young professionals looking for a coastal lifestyle but needing a more affordable option than the Atlantic Seaboard, Blouberg is a popular option. The diverse choice of complexes and neighbourhoods in Blouberg make the area a viable solution for somebody on the hunt for an affordable apartment.

Rentals in Blouberg start at R6 500 a month for one-bedroom units and about R9 500 per month for two-bedroom units. The closer an apartment is to the beach, the more expensive it will be.

With over half a century of expertise buying and selling properties, we understand it is more than just a transaction - this is your story - and we are honoured to write this chapter with you. Allow us to provide you with our expert knowledge about the Western Cape, ensuring you have the most accurate information and support when renting out a property. Contact us today. We are here to ensure that you prosper through property! Make sure to follow us on Facebook, Twitter and LinkedIn for the latest tips and trends in the property industry, as well as some of the most relevant news about the area you call home.

Note: This post was originally published in April 2018. It has been completely revamped and updated for freshness, accuracy, and comprehensiveness in November 2021.

Author: Seeff