How much you need to earn to live in every SA suburb

If you’ve ever wondered how much you need to earn to live in a certain suburb, now is your chance to find out. Search our interactive list.

Households with an annual income of less than $200,000 are priced out of more than 60 Adelaide suburbs, new data reveals.

It’s worse for those earning up to $100,000 a year, which latest Australian Bureau of Statistics figures show is roughly what a typical SA family earns, with houses in 276 suburbs out of reach.

The data has been revealed following a Finder.com.au analysis to determine how much households need to earn to be able to afford a property with a 20 per cent deposit and mortgage rate of 6.16 per cent.

In Greater Adelaide, there are 246 suburbs buyers with a combined annual household income of up to $200,000 could afford to own a house in.

MORE NEWS

Fairytale-like home with mysterious past charming buyers

Flipped home fetches $600k more than it did a year ago

What your home value is worth: House, unit values for every SA suburb

That drops down to just 32 for those with a $100,000 household budget.

Toorak Gardens was top of the list, with a household income of $406,071 needed to comfortably live in a house in the area, while Elizabeth North was most affordable, with $67,116 a year needed.

When it came to units, buyers had much more options – every Adelaide suburb was considered affordable for those with an annual household income of up to $150,000 while just 30 were out of reach for those earning less than $100,000.

Norwood units were the most expensive, while those in Salisbury were most affordable.

Across regional SA, $162,000 per year was needed to be able to afford a house in all suburbs and towns, while more than 80 offered options for households with an income below $100,000.

Finder consumer research head Graham Cooke said home ownership was becoming increasingly out of reach, particularly for first-home buyers.

Houses in 60 Adelaide suburbs are out of reach for households with an income of less than $200,000, new data reveals. Picture: iStock/BeyondImages.

“It is getting a lot more difficult to get on the bottom rung of the property ladder without some help from parents,” he said.

“If you’re unable to get that, you’ll be starting from much further back.”

Mr Cooke said while the deposit was one of the biggest barriers to overcome, it was worth trying to stick to 20 per cent because a smaller one was riskier.

“Ideally you don’t want to spend more than 30 per cent of your salary on home loan repayments, and it’s good to give yourself a buffer,” he said.

Ray White Mount Barker agent Nicole Walker was noticing a lot more young buyers turn to their parents for help.

“The guarantor loans, the amount we’ve seen I reckon is 20 per cent higher than it was 12 months ago,” she said.

Despite the tough conditions, she encouraged prospective buyers not to lose hope.

“Go to a broker who will work with and for you, and do your research – knowledge is power,” she said.

“Don’t give up hope, there’s a house out there for everyone.”

Marcus and Lana McCreight outside their Mount Barker home. Picture: Kelly Barnes.

Homeowners Marcus and Lana McCreight recently sold their Mount Barker home and were shocked it fetched about $250,000 more than they paid to build it in 2018.

They secured a 5 per cent loan through HomeStart to get a foot on the property ladder – if it wasn’t for that, they say they wouldn’t have been able to buy.

They say they wouldn’t be able to afford to buy in Mount Barker now.

“We have no dependants so I don’t know how young families are expected to buy a house,” Mr McCreight said.