Brisbane's rental vacancy rate is sitting at approximately 1.1% as of mid-2026, according to SQM Research data. That figure is below the 3% threshold economists consider a balanced market, and it has been below that threshold for four consecutive years. The practical consequence is straightforward: there are more tenants looking for properties than there are properties available, which keeps rents elevated and makes rental income relatively predictable for landlords.
But the market is more nuanced than a single vacancy number suggests. Rents have started to plateau in some middle-ring suburbs after sharp rises between 2021 and 2024. New rental legislation introduced under Queensland's Housing Legislation Amendment Act has shifted the balance of rights between landlords and tenants. And the cost of owning and managing a rental property has risen alongside the rents themselves.
This article covers the full picture: current rents by suburb type, how to calculate what a property actually returns after costs, tenant rights under current Queensland law, and what the rental reforms mean in practice.
Current Vacancy Rates and What They Mean
A 1.1% vacancy rate means that roughly 11 out of every 1,000 rental properties in Brisbane are unoccupied and available. In practical terms, a well-priced rental in most Brisbane suburbs will attract multiple applications within a week of listing. In tighter pockets — inner-city units, properties near major hospitals or universities — that can compress to days.
The suburbs with the tightest conditions tend to be those with high employment density nearby or limited new supply. Suburbs like Woolloongabba, Kangaroo Point, and West End have seen sustained low vacancy driven by proximity to the Princess Alexandra Hospital precinct and the ongoing Gabba redevelopment. In the north, Chermside and Lutwyche remain tight given their access to the Prince Charles Hospital and major retail employment.
The outer suburbs tell a slightly different story. Areas like North Lakes, Springfield, and Ripley have seen modest increases in vacancy as new housing estates deliver stock. Vacancy in those corridors is closer to 1.8–2.2%, which is still below balanced but gives tenants marginally more negotiating room.
Median Rents by Suburb Type: What the Numbers Actually Show
Brisbane's median weekly rents vary significantly by property type and distance from the CBD. As of the September 2026 quarter, the approximate ranges are:
Houses:
- Inner ring (0–5km from CBD): $750–$950 per week. Suburbs like Paddington, Auchenflower, and Annerley sit in this band.
- Middle ring (5–15km): $600–$750 per week. New Farm, Coorparoo, and Nundah are representative.
- Outer ring (15km+): $480–$600 per week. Suburbs like Carindale, Aspley, and Stafford Heights.
Units and Townhouses:
- Inner ring: $550–$750 per week for a two-bedroom unit. Fortitude Valley, South Brisbane, and Spring Hill.
- Middle ring: $430–$560 per week. Greenslopes, Kedron, and Wavell Heights.
- Outer ring: $380–$460 per week. Zillmere, Deagon, and Clontarf.
These are medians, not ceilings. A renovated Queenslander in Paddington with off-street parking and air conditioning will sit at the top of its range. A dated brick unit on a busy road will sit at the bottom. The gap between well-presented and poorly maintained properties has widened as tenants — while still under pressure — have become more selective about what they're willing to pay premium rents for.
How to Calculate Net Rental Yield Properly
Gross rental yield is the figure most commonly quoted in property listings and investment articles. It's calculated as:
Gross yield = (Annual rent ÷ Property value) × 100
A house in Nundah purchased for $900,000 renting at $680 per week generates $35,360 annually. Gross yield: 3.9%.
That number looks reasonable. But it's not what you actually receive.
Net rental yield strips out the costs of owning and operating the property. The standard deductions include:
- Property management fees: Typically 8–10% of gross rent in Brisbane, plus a letting fee of 1–2 weeks' rent when a new tenant is placed. On $35,360 gross rent, management fees at 9% cost approximately $3,180 per year.
- Council rates: Vary by suburb and property size, but typically $1,800–$2,800 per year for a standard Brisbane house.
- Water and sewerage charges: Landlords pay the access and sewerage charges; tenants pay usage. Budget $1,200–$1,600 annually.
- Insurance: Landlord insurance covering building, contents (if furnished), and rental default typically costs $2,000–$3,500 per year depending on property value and insurer.
- Maintenance and repairs: The industry standard estimate is 1% of property value per year for an older property. On a $900,000 house, that's $9,000 — though in any given year it might be $2,000 or $15,000.
- Accounting fees: If you're claiming depreciation and investment deductions, a specialist property accountant will cost $400–$800 per year.
Applying these costs to the Nundah example:
- Gross rent: $35,360
- Management fees: $3,180
- Rates: $2,200
- Water charges: $1,400
- Insurance: $2,500
- Maintenance (1%): $9,000
- Accounting: $600
- Total costs: $18,880
- Net income: $16,480
- Net yield: 1.83%
That's before mortgage interest, which is the largest cost of all for leveraged investors. A $720,000 mortgage at 6.2% interest costs approximately $44,600 per year in interest alone — turning the property cash-flow negative by around $28,000 annually before tax.
This is why yield and capital growth need to be considered together. Many Brisbane landlords are accepting negative cash flow in exchange for long-term capital appreciation. Whether that trade-off makes sense depends on individual tax position, holding period, and suburb-specific growth outlook.
Queensland Rental Reforms: What Changed and What It Means
Queensland's rental law has undergone significant reform over the past three years. The key changes landlords and tenants both need to understand:
End of No-Grounds Evictions
As of October 2024, landlords in Queensland can no longer issue a notice to leave without a valid reason at the end of a fixed-term lease. This was one of the most significant changes in Queensland rental history. Valid grounds for ending a tenancy now include the owner moving in, the property being sold with vacant possession required, major renovations requiring vacant possession, or repeated breaches by the tenant.
For tenants, this means greater security of tenure. For landlords, it means the process of ending a tenancy — particularly if a tenant is difficult to remove — requires documented grounds and proper process through the Queensland Civil and Administrative Tribunal (QCAT) if disputed.
Rent Increase Frequency
Rent increases are now limited to once every 12 months, regardless of whether the tenancy is periodic or fixed-term. Previously, fixed-term leases could include multiple scheduled increases. This change has pushed some landlords to set initial rents higher to account for the 12-month lock-in.
Minimum Housing Standards
New minimum housing standards came into effect for new tenancies from September 2023 and apply to all tenancies from September 2024. These include requirements that properties be weatherproof and structurally sound, have functioning locks on all external doors and windows, have adequate ventilation, and have working plumbing and drainage.
For landlords with older stock — particularly pre-1980s Queenslanders — some of these standards have required investment. A property that doesn't meet minimum standards can be the subject of a repair order from the Residential Tenancies Authority (RTA).
Pets in Rentals
Queensland now operates under a presumption that tenants can keep pets unless a landlord has reasonable grounds to refuse. Landlords can apply to QCAT to refuse a pet, but a blanket no-pets policy is no longer enforceable. Landlords can require that carpets be professionally cleaned at the end of a tenancy if a pet was kept — but only if that condition was in the lease.
Tenant Rights: What You're Actually Entitled To
Many Brisbane tenants don't fully understand their rights under the Residential Tenancies and Rooming Accommodation Act 2008 (as amended). The key protections:
- Bond limits: The maximum bond is four weeks' rent. If you paid more than this, you're entitled to a refund of the excess.
- Rent receipts: Landlords must provide a receipt for every rent payment made in cash. Electronic payment records serve as receipts for bank transfers.
- Entry notice: Landlords must give at least 24 hours' written notice before entering for routine inspections, and inspections cannot occur more than once every three months.
- Urgent repairs: Landlords must arrange urgent repairs (burst pipes, broken hot water, security breaches) within a reasonable timeframe. If they don't, tenants can arrange repairs up to $300 and claim reimbursement.
- Condition report: At the start of a tenancy, you should receive a condition report. Check it carefully and return your annotated copy within three days. Anything not noted on the condition report at entry can be claimed against your bond at exit.
- Dispute resolution: The RTA offers a free dispute resolution service before matters escalate to QCAT. Most bond disputes and repair disputes can be resolved through this process without legal representation.
Property Management Costs: What You're Actually Paying For
The standard Brisbane property management fee of 8–10% of gross rent covers rent collection, routine inspections (typically four per year), coordinating maintenance, managing lease renewals, and handling tenant communication. The letting fee — charged when a new tenant is placed — covers advertising, open homes, application processing, and lease preparation.
Some property managers charge additional fees: lease renewal fees (typically $100–$200), tribunal attendance fees, and statement fees. Before signing a management agreement, request a full schedule of fees. The difference between a 7.5% manager with minimal additional charges and an 8.5% manager with a long schedule of extras can be significant over a full year.
Self-managing is legal in Queensland and saves the management fee. But it requires time, knowledge of the legislation, and availability to handle maintenance calls. For landlords with multiple properties or those living interstate, professional management is generally worth the cost.
The Investment Case in 2026: Honest Assessment
Brisbane's rental market remains landlord-favourable in terms of vacancy and demand. But the investment arithmetic has tightened. Purchase prices rose sharply between 2020 and 2024, compressing yields. Interest rates, while easing from their 2023 peak, remain elevated compared to the 2019–2021 period. And the regulatory environment has shifted toward tenants.
The suburbs where the numbers still work reasonably well for investors tend to be those where purchase prices haven't fully caught up with rental growth. Some outer-ring suburbs — parts of Deception Bay, Clontarf, and Caboolture South — still offer gross yields above 5%, though they carry different risk profiles around capital growth and tenant quality.
Inner-ring properties in suburbs like Woolloongabba and Kangaroo Point offer lower yields but stronger capital growth prospects tied to the Gabba precinct redevelopment and continued infrastructure investment. The investment case there is about total return over a 7–10 year horizon, not annual cash flow.
Using Data to Make Better Decisions
Whether you're a landlord reviewing whether your current rent is at market, a tenant trying to understand whether an asking rent is fair, or an investor assessing a potential purchase, the quality of your data matters.
PropertyLens covers inner Brisbane suburbs within approximately 15km of the CBD, with suburb-level analytics including median rents, price histories, and vacancy trend data. The platform's free property estimate tool at app.propertylens.au/estimate gives an instant price range for any indexed address — useful context for landlords reviewing their asset value or investors comparing purchase price to estimated value before making an offer.
For more detailed analysis of a specific property — including rental yield calculations based on current comparable rents and purchase price — the detailed price prediction reports at app.propertylens.au draw on current sales and rental data to give a more complete picture than a gross yield figure alone.
The rental market in Brisbane is not simple right now. Rents are high, legislation has changed, costs have risen, and the outlook varies significantly by suburb and property type. The landlords and tenants who navigate it best will be the ones working from accurate, current data rather than assumptions.