Auckland Suburb · Rental Yield

Freemans Bay Rental Yield 2026

Freemans Bay is one of Auckland's most sought-after inner-city neighbourhoods, attracting a high-income, professional renter base with a median weekly rent of $873. Investors can expect indicative gross yields in the range of 3.5%–5.4%, reflecting the suburb's premium positioning just minutes from the CBD.

Analyse a Freemans Bay property

Median rent by bedroom

Freemans Bay weekly rents

Median weekly rent in Freemans Bay from MBIE tenancy bond records (2025-12, 3-month period). Real lodged-bond data — not estimates.

1 Bedroom

$775/wk

2 Bedroom

$725/wk

3 Bedroom

$1000/wk

Indicative gross yield range of 3.5%–5.4% uses the rent against the Auckland median sale price of $1,000,000. Net yield is lower after rates, insurance, management and maintenance.

Suburb demographics

Who rents in Freemans Bay?

From the Stats NZ 2023 Census. Rental demand indicators that shape tenant pool and vacancy.

Median Rent

$873/wk

Rent Range

$671–$1038

Renters

52%

Median Income

$132,800

Median Age

37 yrs

Population

3,441

Investor guide

Investing in Freemans Bay

Who Rents in Freemans Bay?

Freemans Bay sits immediately west of Auckland's CBD and enjoys a reputation as one of the city's most liveable urban villages. With 52% of households renting and a median age of just 37, the suburb draws a predominantly professional and dual-income demographic — renters who prioritise walkability, character housing, and proximity to work over suburban space.

The suburb's median household income of $132,800 speaks to the quality of tenant typically found here. Demand is consistent across apartment and terraced-home product, and vacancy periods tend to be short thanks to the suburb's enduring appeal to both local professionals and internationally mobile residents working in Auckland's CBD and waterfront precincts.

Yields and Cash-Flow Considerations

At a median weekly rent of $873, Freemans Bay sits well above the broader Auckland average, and the rent range of $671–$1,038 per week across the lower to upper quartile illustrates meaningful upside for well-positioned or renovated properties. Based on the Auckland median price of $1,000,000, indicative gross yields sit between 3.5% and 5.4% — a range that reflects the diversity of stock, from smaller apartments through to larger character homes.

Investors should note that 1-bedroom properties command a median of $775 per week while 3-bedroom properties reach $1,000 per week, suggesting that larger family-sized homes capture a strong rental premium in this suburb. Net yields will be lower once body corporate fees, rates, insurance, and property management costs are factored in, so rigorous due diligence on outgoings is essential before committing.

Investor Snapshot

Is Freemans Bay a good place to invest?

Freemans Bay offers investors a compelling combination of high absolute rents, a well-paid and stable tenant pool, and the enduring scarcity of land in Auckland's inner west. With renters comprising 52% of households and median household incomes at $132,800, demand for quality rental accommodation is structurally supported and tenant affordability risk is relatively low compared with many other Auckland suburbs.

The suburb's proximity to the CBD, waterfront, and key arterial routes positions it well for continued rental demand, though investors should be prepared for entry prices that compress gross yields toward the lower end of the 3.5%–5.4% range on premium stock.

Pros

High median weekly rent of $873, with upper-quartile properties achieving over $1,038 per week
Strong, high-income tenant demographic with median household income of $132,800
52% renter household proportion underpins consistent demand and low vacancy risk

Cons

Premium entry prices can compress gross yields toward the lower end of the 3.5%–5.4% range
Body corporate levies and maintenance costs on older character or apartment stock can significantly erode net returns
A relatively small suburb population of 3,441 means limited stock turnover and competitive acquisition conditions

FAQ

Freemans Bay rental yield — common questions

What is the median rent in Freemans Bay?

The median weekly rent across all property types in Freemans Bay is $873 per week. Rents range from $671 per week at the lower quartile to $1,038 per week at the upper quartile, reflecting the diversity of housing stock from studios and apartments through to larger character homes.

What rental yields can investors expect in Freemans Bay?

Based on the Auckland median price of $1,000,000, indicative gross yields in Freemans Bay range from 3.5% to 5.4%. Actual yields will vary depending on the purchase price and property type, and investors should account for ongoing expenses when calculating net returns.

How do rents differ by bedroom count in Freemans Bay?

Median weekly rents by bedroom type in Freemans Bay are $775 for a 1-bedroom property, $725 for a 2-bedroom property, and $1,000 for a 3-bedroom property. The premium on 3-bedroom homes suggests strong demand from professional households or families willing to pay for space in this inner-city location.

What type of tenants does Freemans Bay attract?

Freemans Bay attracts predominantly professional, high-income renters, consistent with the suburb's median household income of $132,800 and median age of 37. With 52% of households renting, the suburb has a well-established rental culture, and tenants are typically drawn by the walkable urban lifestyle and close proximity to Auckland's CBD and waterfront.

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