Victorian Housing Minister Nick Staikos has announced changes to the state’s Affordable Housing Rental Scheme aimed at reducing rents and increasing long-term housing security for low-to-moderate-income households.
Under the revised rules, rent for eligible tenants will be capped at the lower of 30 per cent of household income or 74.99 per cent of market rent, replacing the previous threshold of up to 90 per cent of market rent or 30 per cent of median income.
Lease terms will also be extended from three to five years to provide greater stability for families.
“Every Victorian family deserves a safe, secure place to call home,” Staikos said. “We’re cutting rents and locking in longer leases — because families need stability, not uncertainty.”
Income eligibility limits have also been set, with singles able to earn up to $74,080, couples up to $111,110, and families up to $155,550 annually. The benchmarks will be reviewed each year.
The scheme has delivered more than 500 homes since 2022 in suburbs including Kensington, Ascot Vale and Ashburton and forms part of the broader $6.3 billion Big Housing Build and Regional Housing Fund program.
