Auckland Suburb · Rental Yield

Queen Street South West Rental Yield 2026

Queen Street South West is a densely rented inner-Auckland neighbourhood where 79% of households are renters, reflecting strong and consistent tenant demand. Indicative gross yields range from 1.8% to 2.6%, with a median weekly rent of $450, making it a market where cash-flow discipline and capital-growth expectations need careful balancing.

Analyse a Queen Street South West property

Median rent by bedroom

Queen Street South West weekly rents

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

1 Bedroom

$450/wk

2 Bedroom

$510/wk

3 Bedroom

$275/wk

Indicative gross yield range of 1.8%–2.6% 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 Queen Street South West?

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

Median Rent

$450/wk

Rent Range

$345–$505

Renters

79%

Median Income

$67,500

Median Age

37 yrs

Population

2,004

Investor guide

Investing in Queen Street South West

Who Rents Here & What They Pay

With 79% of households renting and a median age of 37, Queen Street South West attracts a predominantly adult, working-age tenant base typical of central Auckland fringe living. The suburb's median weekly rent sits at $450, with the lower-to-upper quartile range spanning $345 to $505 per week — a spread that reflects meaningful variation in property size and quality across the area.

Bedroom-level data reveals some notable dynamics: one-bedroom and two-bedroom properties command $450 and $510 per week respectively, while three-bedroom properties sit at a considerably lower $275 per week. Investors should scrutinise this spread carefully, as it may reflect the mix of stock available and the relative scarcity or oversupply of larger family-sized rentals in the suburb.

Yield & Cash-Flow Considerations

Based on the Auckland median price of $1,000,000, indicative gross yields in Queen Street South West range from 1.8% to 2.6%. These figures sit at the lower end of what many investors target for positive cash flow, meaning mortgage servicing costs, rates, insurance, and management fees will require close attention when stress-testing any acquisition.

The suburb's median household income of $67,500 suggests a tenant base with moderate but not high earnings capacity, which may limit the degree to which rents can be pushed significantly above current market levels. Investors should factor in interest rate sensitivity and ensure any property they assess can sustain periods of vacancy without materially distressing the hold strategy.

Investor Snapshot

Is Queen Street South West a good place to invest?

Queen Street South West offers the structural advantage of exceptionally high renter concentration — at 79% of households, tenant demand is deeply embedded in the suburb's character. With a median weekly rent of $450 and a population of 2,004, this is a compact, high-density rental market where finding tenants is rarely the primary challenge for well-presented properties.

The key consideration for prospective investors is whether the indicative gross yield range of 1.8% to 2.6% aligns with their return expectations and financing costs, particularly given current interest rate conditions across New Zealand.

Potential Pros

Exceptionally high renter concentration at 79% of households supports consistent tenant demand
Two-bedroom properties achieving $510/wk median rent offer relatively stronger income for the stock type
Central Auckland location appeals to a broad, stable working-age tenant demographic with a median age of 37

Potential Cons

Indicative gross yields of 1.8%–2.6% are modest relative to many regional NZ markets and may not cover holding costs
Three-bedroom median rent of $275/wk is notably low, suggesting limited appeal or oversupply in the larger-dwelling segment
A median household income of $67,500 constrains tenants' ability to absorb significant rent increases

FAQ

Queen Street South West rental yield — common questions

What is the median rent in Queen Street South West?

The median weekly rent across all property types in Queen Street South West is $450 per week. By bedroom count, one-bedroom properties also achieve $450/wk, two-bedroom properties $510/wk, and three-bedroom properties $275/wk. The lower-to-upper quartile range sits between $345 and $505 per week.

What rental yield can I expect in Queen Street South West?

Based on the Auckland median price of $1,000,000, indicative gross yields in Queen Street South West range from 1.8% to 2.6%. These are gross figures and do not account for operating expenses, vacancy, or financing costs, so investors should model net returns carefully before committing.

Is there strong rental demand in Queen Street South West?

Rental demand in Queen Street South West is structurally strong, with 79% of households being renters — well above typical suburban averages. This high renter concentration, combined with a median age of 37 and a population of 2,004, points to a stable, established rental market rather than a transient one.

What type of tenant does Queen Street South West attract?

The suburb's median age of 37 and median household income of $67,500 suggest a predominantly working-age, middle-income tenant base. The high proportion of renters at 79% of households indicates that renting is a long-term lifestyle choice for many residents here, rather than a transitional phase, which can support tenancy stability for landlords.

More Auckland suburbs

Northcote Central (Auckland) New Lynn Central South Helensville New Lynn South Onehunga North Morningside (Auckland) Bayswater Millwater South