Lower Rents, Longer Leases For Victorian Families

Labor is making life easier and more affordable with lower rents and longer leases for those in affordable housing.

Minister Staikos today announced new settings for Victoria’s Affordable Housing Rental Scheme.

Under the new settings, rent will be set at the lower of:

30 per cent of your household income; or

74.99 per cent of market rent.

Previously rent caps were set at 90 per cent of market rent or 30 per cent of the median household income.

Labor is also extending standard leases from three to five years, so families have the stability to plan ahead.

Since launching in 2022, the Scheme has delivered more than 500 affordable homes in locations like Kensington, Ascot Vale and Ashburton.

This is providing affordable rentals close to jobs, transport and community services.

The Scheme will continue to prioritise low-to-moderate income households and essential workers while helping to take pressure off the Victorian Housing Register.

Eligibility for the Affordable Housing Rental Scheme depends on household income.

Individuals can earn up to $74,080 a year, couples up to $111,110 and families up to $155,550.

Income and market rent benchmarks will be reviewed annually to make sure these homes stay affordable.

This builds on Labor’s $6.3 billion Big Housing Build and Regional Housing Fund, delivering more than 13,000 social and affordable homes across Victoria.

The Liberals don't support renters - they opposed our rental reforms and would strip back renters' rights.

Quotes attributable to Minister for Housing and Building Nick Staikos

"Every Victorian family deserves a safe, secure place to call home."

"We're cutting rents and locking in longer leases - because families need stability, not uncertainty."