Average yields, top suburbs, and a free calculator to analyse any Wellington address instantly.
Calculate Wellington rental yieldGross rental yields across greater Wellington vary widely. Porirua and the Hutt Valley offer the strongest returns, while Wellington City and Kapiti Coast trade some yield for lifestyle and capital growth potential.
Approximate gross yield ranges based on REINZ median sale prices and MBIE tenancy bond median rents, 2025. Individual properties will vary. Use the calculator below to model a specific address.
Based on MBIE tenancy bond data, May 2026. Use these figures to estimate rental income before running the full calculator.
| Area | 1 Bedroom | 2 Bedroom | 3 Bedroom | 4 Bedroom | Approx. Gross Yield |
|---|---|---|---|---|---|
| Hutt Valley | ~$380/wk | ~$470/wk | ~$560/wk | ~$700/wk | 4.5–5.5% |
| Porirua | ~$400/wk | ~$490/wk | ~$580/wk | ~$730/wk | 4.2–5.2% |
| Kapiti Coast | ~$410/wk | ~$510/wk | ~$600/wk | ~$760/wk | 3.8–4.8% |
| Central Wellington | ~$480/wk | ~$590/wk | ~$700/wk | ~$890/wk | 3.5–4.5% |
| North Wellington | ~$440/wk | ~$540/wk | ~$640/wk | ~$810/wk | 3.5–4.2% |
Median weekly rents from MBIE tenancy bond records, May 2026. Individual rents vary by property condition and exact location. Gross yield calculations based on REINZ area median prices.
Select an area to explore suburbs and analyse individual properties with our free yield calculator.
Wellington experienced one of New Zealand's steepest price corrections after the 2021 peak — median values in some Wellington City suburbs fell 35–40%. Combined with rents that held relatively firm or rose modestly, this produced a meaningful improvement in gross yields across the region. A property that returned 2.8% gross at peak can now return 4.2–4.8% at current prices.
Porirua and the Hutt Valley, where prices were already more affordable, now offer yields comparable to South Auckland's highest-returning suburbs — without requiring the same level of property management intensity that comes with some South Auckland locations.
Gross yield is rent divided by purchase price — it's a quick comparison tool, not an investment decision. Net yield deducts property management fees (typically 8–10%), insurance, council rates and maintenance, which can reduce a 5.0% gross yield to 3.2–3.8% net depending on the property.
Wellington's older housing stock — particularly character homes in Wellington City — can carry elevated maintenance costs relative to newer builds in the Hutt Valley or Kapiti. Factor this into any net yield modelling.
Approximate gross yields. Source: REINZ median prices & MBIE tenancy bond data 2025.
Wellington suits investors who value stable, high-quality tenants and long-term yield over pure capital growth. The public sector workforce — government, health, education — provides a large pool of reliable, professional renters who stay in properties longer and maintain them well.
The Hutt Valley and Porirua offer the best yields (4.5–5.5%), while central Wellington commands higher rents but also higher prices. The Kapiti Coast is emerging as a commuter-belt opportunity with improving infrastructure.
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