Authored by the expert who managed and guided the team behind the Australia Property Pack
Yes, the analysis of Wollongong's property market is included in our pack
If you are a foreigner thinking about buying an apartment in Wollongong, one of the first questions you probably have is: what kind of rental income can I actually expect?
This guide breaks down everything you need to know about rental yields for Wollongong apartments, from gross and net returns to neighborhood comparisons, without the confusing jargon.
We constantly update this blog post to make sure you get the freshest data possible.
And if you're planning to buy a property in this place, you may want to download our pack covering the real estate market in Wollongong.
What rental yields can I realistically get from an apartment in Wollongong?
What's the average gross rental yield for apartments in Wollongong as of 2026?
As of early 2026, the average gross rental yield for apartments in Wollongong sits at around 4.6%, based on a median unit price of approximately A$740,000 and a median weekly rent of around A$650.
Most apartment investors in Wollongong can realistically expect gross yields somewhere between 4.0% and 5.0%, depending on the specific property and location within the city.
The biggest factor that moves gross yields up or down in Wollongong is whether the apartment is a compact 1 or 2-bedroom unit versus a larger 3-bedroom property, because 3-bedroom apartments have much higher purchase prices but rents do not increase proportionally, which is why they tend to yield closer to 3.7%.
Compared to Sydney, where gross yields for apartments often hover around 3.0% to 3.5%, Wollongong offers noticeably better returns, making it attractive for investors who want to stay within the Greater Sydney commuter belt while capturing stronger cash flow.
What's the average net rental yield for apartments in Wollongong as of 2026?
As of early 2026, the average net rental yield for apartments in Wollongong is around 3.0%, once you subtract all the recurring ownership costs from your gross rental income.
Realistically, most Wollongong apartment investors land somewhere between 2.5% and 3.5% net yield, with the exact number depending heavily on how expensive your strata levies are and whether you use a property manager.
The single biggest expense that eats into your gross yield in Wollongong is strata levies, which can range from A$4,500 to A$7,500 per year depending on whether your building has lifts, pools, or older infrastructure needing repairs.
By the way, you will find much more detailed data in our property pack covering the real estate market in Wollongong.
What's the typical rent-to-price ratio for apartments in Wollongong in 2026?
As of early 2026, the typical rent-to-price ratio for apartments in Wollongong is around 4.6%, which is essentially another way of expressing the gross rental yield.
Most Wollongong apartments fall within a rent-to-price ratio range of 3.7% to 5.0%, with the variation largely driven by apartment size and specific location within the city.
Smaller 1-bedroom and 2-bedroom apartments in areas like Fairy Meadow and Gwynneville near the University of Wollongong tend to have the highest rent-to-price ratios, because strong student and young professional demand keeps rents firm while entry prices remain more accessible than beachfront locations.
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How much rent can I charge for an apartment in Wollongong?
What's the typical tenant budget range for apartments in Wollongong right now?
The typical monthly tenant budget for renting an apartment in Wollongong in early 2026 ranges from around A$2,000 to A$3,500 per month (approximately US$1,300 to US$2,275, or €1,200 to €2,100), depending on apartment size and location.
Tenants looking for mid-range apartments in Wollongong, such as a decent 2-bedroom in suburbs like Fairy Meadow or Coniston, typically budget between A$2,400 and A$3,000 per month (around US$1,560 to US$1,950, or €1,440 to €1,800).
For high-end or luxury apartments in Wollongong, particularly beachfront units in North Wollongong or modern CBD buildings with ocean views, tenants can expect to pay A$3,500 to A$5,000 or more per month (approximately US$2,275 to US$3,250, or €2,100 to €3,000).
We have a blog article where we update the latest data about rents in Wollongong here.
What's the average monthly rent for a 1-bed apartment in Wollongong as of 2026?
As of early 2026, the average monthly rent for a 1-bedroom apartment in Wollongong is around A$2,145 per month (approximately US$1,395, or €1,285), based on a median weekly rent of A$495.
Entry-level 1-bedroom apartments in Wollongong typically rent for A$1,700 to A$1,900 per month (around US$1,105 to US$1,235, or €1,020 to €1,140), and these are usually older walk-up units in suburbs like Warrawong or Berkeley, often without parking or modern finishes.
A typical mid-range 1-bedroom in Wollongong fetches A$2,000 to A$2,300 per month (around US$1,300 to US$1,495, or €1,200 to €1,380), and at this price point you would likely find a relatively modern unit in Fairy Meadow or Figtree with secure parking and basic amenities.
High-end 1-bedroom apartments in Wollongong can command A$2,500 to A$3,000 or more per month (approximately US$1,625 to US$1,950, or €1,500 to €1,800), typically offering ocean views, premium finishes, and locations in North Wollongong or the CBD.
What's the average monthly rent for a 2-bed apartment in Wollongong as of 2026?
As of early 2026, the average monthly rent for a 2-bedroom apartment in Wollongong is around A$2,730 per month (approximately US$1,775, or €1,640), based on a median weekly rent of A$630.
Entry-level 2-bedroom apartments in Wollongong typically rent for A$2,200 to A$2,500 per month (around US$1,430 to US$1,625, or €1,320 to €1,500), and these are usually older units in suburbs like Unanderra or Corrimal, often needing some updating but still functional for budget-conscious tenants.
A typical mid-range 2-bedroom in Wollongong commands A$2,600 to A$3,000 per month (around US$1,690 to US$1,950, or €1,560 to €1,800), and at this level you would find a modern unit with secure parking in popular suburbs like Gwynneville, Keiraville, or Towradgi.
High-end 2-bedroom apartments in Wollongong can reach A$3,200 to A$4,000 or more per month (approximately US$2,080 to US$2,600, or €1,920 to €2,400), offering premium beachside locations in North Wollongong, resort-style facilities, or recently built CBD apartments with views.
What's the average monthly rent for a 3-bed apartment in Wollongong as of 2026?
As of early 2026, the average monthly rent for a 3-bedroom apartment in Wollongong is around A$3,510 per month (approximately US$2,280, or €2,105), based on a median weekly rent of A$810.
Entry-level 3-bedroom apartments in Wollongong typically rent for A$2,800 to A$3,200 per month (around US$1,820 to US$2,080, or €1,680 to €1,920), and these tend to be older strata units in outer suburbs like Berkeley, Warrawong, or Bellambi, often appealing to families or groups of sharers.
A typical mid-range 3-bedroom in Wollongong fetches A$3,300 to A$3,800 per month (around US$2,145 to US$2,470, or €1,980 to €2,280), and at this price point you would find a well-maintained unit in suburbs like Figtree, Mangerton, or Fairy Meadow with parking and proximity to schools and shops.
High-end 3-bedroom apartments in Wollongong can command A$4,000 to A$5,500 or more per month (approximately US$2,600 to US$3,575, or €2,400 to €3,300), typically featuring premium beachfront locations, large balconies, multiple bathrooms, and high-quality finishes in North Wollongong or the CBD.
How fast do well-priced apartments get rented in Wollongong?
A well-priced apartment in Wollongong typically gets rented within 2 to 3 weeks, with the median time on market sitting at around 17 days for rental units across the city.
Vacancy rates for apartments in Wollongong remain relatively tight, generally hovering between 1.5% and 2.5%, which means demand is steady and landlords rarely face extended empty periods if they price sensibly.
The main factors that make some Wollongong apartments rent faster than others are proximity to the University of Wollongong campus, walking distance to the train station or free bus routes, and whether the unit has secure parking, as the city's mix of students, hospital workers, and Sydney commuters all prioritize these features differently.
And if you want to know what should be the right price, check our latest update on how much an apartment should cost in Wollongong.
We did some research and made this infographic to help you quickly compare rental yields of the major cities in Australia versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you’re planning to invest there.
Which apartment type gives the best yield in Wollongong?
Which is better for yield between studios, 1-bed, 2-bed and 3-bed apartments in Wollongong as of 2026?
As of early 2026, 1-bedroom and 2-bedroom apartments in Wollongong typically offer the best rental yields, both averaging around 4.6% gross, while 3-bedroom apartments trail behind at approximately 3.7% gross.
For studios and 1-bedroom units in Wollongong, you can expect gross yields around 4.5% to 5.0%, while 2-bedroom apartments also sit around 4.5% to 4.8%, and 3-bedroom apartments generally fall between 3.5% and 4.0%.
The main reason smaller apartments outperform larger ones for yield in Wollongong is that the city's tenant pool is heavily weighted toward University of Wollongong students, young professionals, and Sydney commuters who prefer affordable, compact units, so demand keeps rents strong for 1 and 2-bedroom apartments while 3-bedroom prices rise faster than the rents they can achieve.
Which features are best if you want a good yield for your apartment in Wollongong?
The features that most positively impact rental yield for apartments in Wollongong are proximity to public transport (especially the train station and free bus routes), walkability to the CBD or University of Wollongong, secure parking, and a functional layout that allows for working from home, since the city attracts many Sydney-based hybrid workers who value these practical features over luxury finishes.
In Wollongong, mid-floor apartments tend to rent more easily than ground-floor units because tenants appreciate the added security and reduced street noise, while top-floor units can be desirable but may come with higher strata levies if the building has lift maintenance costs.
Apartments with balconies or outdoor space in Wollongong do tend to rent faster and can command slightly higher rents, particularly given the coastal lifestyle appeal, though the premium is modest compared to the beachside location itself.
Building features like lifts, pools, and concierge services can help attract tenants in Wollongong, but the increased strata levies they bring often eat into net yields, so "boring" low-rise buildings without fancy amenities frequently deliver better net returns for investors focused on cash flow.
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Which neighborhoods give the best rental demand for apartments in Wollongong?
Which neighborhoods have the highest rental demand for apartments in Wollongong as of 2026?
As of early 2026, the neighborhoods with the highest rental demand for apartments in Wollongong are the CBD, North Wollongong, Gwynneville, Keiraville, and Fairy Meadow, all of which benefit from their proximity to major employment hubs, the university, and the beach.
The main demand driver in these Wollongong neighborhoods is the combination of University of Wollongong students and staff, Wollongong Hospital workers, and Sydney commuters who use the South Coast train line, creating a year-round tenant pool that keeps vacancy low.
In these high-demand Wollongong neighborhoods, well-priced apartments typically rent within 2 weeks, with vacancy rates sitting around 1.5% to 2.0%, meaning landlords rarely face extended periods without tenants.
An emerging neighborhood gaining rental demand momentum in Wollongong is Towradgi, which offers a coastal lifestyle, newer apartment stock, and good transport links while remaining more affordable than North Wollongong.
By the way, we've written a blog article detailing what are the current best areas to invest in property in Wollongong.
Which neighborhoods have the highest yields for apartments in Wollongong as of 2026?
As of early 2026, the neighborhoods with the highest rental yields for apartments in Wollongong tend to be Warrawong, Unanderra, Berkeley, Port Kembla, and Bellambi, where lower purchase prices combine with steady rental demand from local workers.
In these higher-yielding Wollongong neighborhoods, gross rental yields typically range from 5.0% to 6.0%, compared to the 4.0% to 4.5% more common in premium beachside areas like North Wollongong.
The main reason these Wollongong suburbs offer higher yields is that apartment prices are significantly lower due to their distance from the beach and CBD, but rents hold up reasonably well because local employment centers like Port Kembla's industrial area and nearby hospitals still generate consistent tenant demand.
We created this infographic to give you a simple idea of how much it costs to buy property in different parts of Australia. As you can see, it breaks down price ranges and property types for popular cities in the country. We hope this makes it easier to explore your options and understand the market.
Should I do long-term rental or short-term rental in Wollongong?
Is short-term rental legal for apartments in Wollongong as of 2026?
As of early 2026, short-term rental is legal for apartments in Wollongong, but it is subject to NSW state regulations and, importantly, your building's strata by-laws, which can restrict or prohibit Airbnb-style rentals altogether.
The main legal requirements for operating a short-term rental apartment in Wollongong include registering on the NSW STRA register, meeting fire safety standards, and complying with a code of conduct that covers things like noise and neighbor relations.
For Airbnb-style rentals in Wollongong, you must register your property on the NSW Short-Term Rental Accommodation Register, and if the property is not your principal residence (meaning you rent it out while living elsewhere), your strata scheme can legally pass by-laws to ban short-term letting from your lot.
By the way, we also have a blog article detailing whether owning an Airbnb rental is profitable in Wollongong.
What's the gross yield difference short-term vs long-term in Wollongong in 2026?
As of early 2026, short-term rentals in Wollongong can generate gross yields of around 6.0% to 7.0%, compared to roughly 4.6% for long-term rentals, meaning short-term can potentially earn 30% to 50% more gross income if everything runs smoothly.
Long-term rental apartments in Wollongong typically yield 4.0% to 5.0% gross, while well-managed short-term rentals can achieve 6.0% to 7.5% gross, though this depends heavily on occupancy rates and nightly pricing.
However, short-term rentals in Wollongong come with significantly higher costs that eat into that gross advantage, including cleaning fees, utility bills, furnishing and replacement costs, platform commissions (typically 3% to 15%), and professional management fees (often 15% to 25% of revenue).
To actually outperform a long-term rental in Wollongong, a short-term rental apartment generally needs to maintain an occupancy rate of at least 50% to 55%, which is achievable in the Wollongong market (average occupancy sits around 54%) but requires active management and competitive pricing.
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What costs will eat into my net yield for an apartment in Wollongong?
What are building service charges as a % of rent in Wollongong as of 2026?
As of early 2026, the typical building service charge (known as strata levies in Australia) for apartments in Wollongong runs between 14% and 23% of your annual rent, or roughly A$375 to A$625 per month (approximately US$245 to US$405, or €225 to €375).
The realistic range of strata levies in Wollongong covers A$4,500 to A$7,500 per year (around US$2,925 to US$4,875, or €2,700 to €4,500), with newer low-rise buildings at the lower end and older high-rise buildings with lifts, pools, or extensive common areas at the higher end.
In Wollongong, the services and building features that typically justify higher strata levies include lift maintenance, swimming pools, on-site building managers, older buildings with pending capital works (like facade repairs or lift replacements), and beachfront complexes with increased insurance and maintenance needs due to salt exposure.
What annual maintenance budget should I assume for an apartment in Wollongong right now?
A reasonable annual maintenance budget for an apartment owner in Wollongong is around A$800 to A$1,500 per year (approximately US$520 to US$975, or €480 to €900) for items inside your lot that strata levies do not cover.
Depending on apartment age and condition, maintenance costs in Wollongong can range from as low as A$500 per year for a brand-new unit to A$2,000 or more for an older apartment with aging appliances, worn carpets, or plumbing issues (around US$325 to US$1,300, or €300 to €1,200).
The most common maintenance expenses Wollongong apartment owners face are hot water system repairs or replacements (which can fail in coastal humidity), air conditioning servicing, minor plumbing fixes inside the lot, repainting between tenancies, and replacing worn appliances like stovetops or dishwashers.
What property taxes should I expect for an apartment in Wollongong as of 2026?
As of early 2026, the main recurring property-related taxes for an apartment in Wollongong are council rates and annual charges, which typically total A$1,500 to A$2,500 per year (approximately US$975 to US$1,625, or €900 to €1,500), depending on the assessed land value and services.
The realistic range of council rates and charges in Wollongong varies from around A$1,200 for a smaller, lower-value unit to A$3,000 or more for a larger or better-located apartment (roughly US$780 to US$1,950, or €720 to €1,800).
Council rates in Wollongong are calculated by Wollongong City Council based on your apartment's assessed land value (set by the NSW Valuer General), multiplied by the council's adopted rate in the dollar, plus fixed annual charges for services like domestic waste collection and stormwater management.
Most single-property apartment owners in Wollongong will not pay NSW land tax if their total taxable land value stays below the threshold, though foreign owners should be aware that a separate surcharge land tax can apply and significantly reduce net yields.
If you want to go into more details, we also have a blog article detailing all the property taxes and fees in Wollongong.
How much does landlord insurance cost for an apartment in Wollongong in 2026?
As of early 2026, typical landlord insurance for an apartment in Wollongong costs around A$450 to A$900 per year (approximately US$295 to US$585, or €270 to €540), depending on coverage level and your chosen excess.
The realistic range of annual landlord insurance costs in Wollongong runs from about A$350 for basic cover with a high excess to A$1,200 or more for comprehensive policies covering loss of rent, tenant damage, and legal liability (roughly US$230 to US$780, or €210 to €720).
What's the typical property management fee for apartments in Wollongong as of 2026?
As of early 2026, the typical property management fee for apartments in Wollongong is around 6% to 7% of weekly rent, which translates to roughly A$165 to A$190 per month for a median-priced 2-bedroom apartment (approximately US$105 to US$125, or €100 to €115).
The realistic range of property management fees in Wollongong runs from about 5% for competitive agencies or negotiated rates to 8% or more for full-service management with premium support (roughly A$140 to A$220 per month, or US$90 to US$145, or €85 to €130 for a typical unit).
Standard property management fees in Wollongong typically include rent collection, routine inspections, coordinating repairs, handling tenant inquiries, and managing lease renewals, though letting fees (often around one week's rent) and advertising costs are usually charged separately when finding a new tenant.
We made this infographic to show you how property prices in Australia compare to other big cities across the region. It breaks down the average price per square meter in city centers, so you can see how cities stack up. It’s an easy way to spot where you might get the best value for your money. We hope you like it.
What sources have we used to write this blog article?
Whether it's in our blog articles or the market analyses included in our property pack about Wollongong, we always rely on the strongest methodology we can … and we don't throw out numbers at random.
We also aim to be fully transparent, so below we've listed the authoritative sources we used, and explained how we used them and the methods behind our estimates.
| Source | Why it's authoritative | How we used it |
|---|---|---|
| realestate.com.au | One of Australia's largest property portals with standardized suburb data. | We used it for median unit prices, rents, and time-on-market figures. These formed our baseline for Wollongong apartment yields. |
| NSW Planning | Official NSW government policy page for short-term rental rules. | We used it to confirm STRA legality and day-cap rules in NSW. This helped us avoid overstating Airbnb income potential. |
| NSW Government Fair Trading | Whole-of-government overview of STRA legal framework. | We used it to explain strata by-law powers over short-term rentals. This was our practical legality check for apartments. |
| Revenue NSW (Land Tax) | Official NSW tax authority with current threshold and rate information. | We used it to explain when land tax applies to investors. This helped us model net yield accurately for different buyer types. |
| Wollongong City Council | Local government authority that sets and bills council rates. | We used it to confirm council rates are real recurring costs. We also used their rates schedule to quantify typical annual charges. |
| NSW Government (Strata Levies) | Official NSW guide explaining how strata levies work. | We used it to explain strata levies clearly for non-professional buyers. This helped us size the biggest apartment-specific cost. |
| Defence Housing Australia | Government entity with benchmarked property management fee data. | We used it to sanity-check typical management fees for units. This ensured we did not underestimate costs in our yield models. |
| Allianz Australia | Major insurer with transparent landlord insurance information. | We used it to define landlord insurance and explain pricing drivers. This helped us estimate realistic annual insurance costs. |
| AirDNA | Recognized short-term rental data provider with occupancy and rate metrics. | We used it to estimate short-term rental gross revenue in Wollongong. This allowed us to compare STR versus long-term yields fairly. |
| Domain | Major Australian property portal with listing and market data. | We used it to cross-check rental prices and listing trends. This helped validate our rent estimates across different apartment types. |
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