St Lukes is a centrally located Auckland suburb with a strong renter majority, where 67% of households are tenanted and median weekly rents sit at $670. Indicative gross yields range from 2.9% to 3.7%, reflecting the suburb's mid-ring appeal and elevated Auckland property values.
Analyse a St Lukes propertyMedian weekly rent in St Lukes from MBIE tenancy bond records (2025-12, 3-month period). Real lodged-bond data — not estimates.
Indicative gross yield range of 2.9%–3.7% uses the rent against the Auckland median sale price of $1,000,000. Net yield is lower after rates, insurance, management and maintenance.
From the Stats NZ 2023 Census. Rental demand indicators that shape tenant pool and vacancy.
St Lukes attracts a diverse rental population drawn to its proximity to central Auckland, walkable retail amenities, and good motorway and public transport access. With a median age of 37 and a median household income of $110,400, the suburb skews toward working professionals and small families who prioritise convenience over space.
The dominance of renters — at 67% of households — signals a deep and established tenant pool, which can support lower vacancy rates for well-presented properties. Two- and three-bedroom dwellings are likely to command broad interest, with median rents of $620 and $745 per week respectively, offering landlords a degree of flexibility across property sizes.
Based on the Auckland median price of $1,000,000, indicative gross yields in St Lukes sit in the 2.9%–3.7% range — modest by national standards, but broadly in line with other established inner-Auckland suburbs. At the upper end of the rent range ($720/wk), investors are better positioned to approach that 3.7% gross yield ceiling, making property selection and purchase price discipline critical.
Investors should account for Auckland Council rates, insurance, property management fees, and maintenance costs, all of which will compress net yields noticeably below the gross figures. With rents starting from $550/wk at the lower quartile, weaker or smaller properties may struggle to service debt comfortably at current Auckland price levels, so careful due diligence on individual property performance is essential.
St Lukes offers a compelling tenant base — high incomes, a median age of 37, and 67% of households renting — which underpins reliable rental demand and reduces the risk of prolonged vacancy. However, with indicative gross yields of only 2.9%–3.7% against an Auckland median price of $1,000,000, cash-flow positive outcomes are challenging without a substantial deposit or careful acquisition strategy.
For investors with a longer time horizon, St Lukes' central Auckland positioning and strong demographic fundamentals may support capital growth, though near-term yield compression remains a key consideration in the current interest rate environment.
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