What R750 vs R300,000 per month gets you when renting in Joburg

South Africa’s economic hub, Johannesburg, lures those across the economic spectrum – and the city’s rental property caters to everyone.

With a population of over 6 million people, Johannesburg’s residents range from the lowest earners to the wealthiest individuals in the country.

Determining who qualifies as “poor”, and “rich” in South Africa is a difficult task, since definitions can vary quite widely.

According to Statista, as of 2024, an individual living in South Africa with less than R1,109 per month was considered poor. 

Furthermore, individuals having R796 a month available for food were living below the poverty line according to South African national standards. 

Estimates for what is considered “rich” range from R39,600 per month to as much as R162,300 per month.

Since affordability is a key factor for renters, budgets can range significantly across these economic groups.

The general rule of thumb is that rent should not exceed 30% of one’s monthly income, meaning that lower-income renters would ideally spend no more than R332.70 per month, while higher earners can allocate R11,880 or more.

Looking at properties currently available for rent in Johannesburg on Property 24, wealthier South Africans have plenty of choices for affordable housing.

However, in Gauteng, there are no properties currently available for less than R750, which is the least expensive property currently being advertised.

This means that for “poor” South Africans, rent either has to be split between multiple people, or they have to rely on informal housing as an alternative. 

Below is the least and most expensive apartment currently available to rent in Johannesburg on Property 24.

The Sentinel – R750 per month

This unfurnished, 0.5-bedroom apartment is located in Hillbrow, Johannesburg, and can be leased from the Indluplace rental agency. 

The Sentinel at 171D Van Der Merwe Street offers communal rooms starting from just R750 per month.

Currently, this rental is available for no deposit, 50% off the first month’s rent, and no admin fees. 

New tenants also receive a R100 Uber Eats voucher. Designed for convenience, these rooms each include a private kitchen, bathroom, and built-in cupboards. 

The building’s prime location provides easy access to daily essentials, nearby BRT stations, and a short walk to Parktown, Park Station (Gautrain), and local taxi ranks.

Additional perks include 24-hour security, prepaid electricity, water metering, parking, and an on-site building manager.

Houghton Estate – R300,000 per month

On the other end of the spectrum, many of South Africa’s wealthiest people also opt for Johannesburg.

Whether they are drawn by the financial opportunities from South Africa’s “Richest Square Mile” in Sandton, the array of luxury properties, or the wide variety of lifestyle activities – there is plenty of draw for the country’s highest earners.

While Joburg’s richest residents would likely opt to buy property rather than rent, at least in the long term, there is still an array of luxury rentals available for these people.

Currently, the most expensive property on offer in Johannesburg is a fully furnished 2-bedroom, 2.5-bathroom, 630 m² penthouse in Houghton Estate, which is currently available for R300,000 per month from the Infinity Realty Group SA.

Nazia Shah, Director of Infinity Realty Group SA, explained that “Houghton Estate is one of Johannesburg’s most prestigious areas, known for its exclusivity, proximity to the city’s business centres, and quiet, leafy streets.”

“This makes it an ideal location for those seeking a balance of luxury living with convenient access to essential services and city amenities.”

Shah told BusinessTech that the property offers the following features:

• The property’s interior is thoughtfully designed with high-end finishes and a modern layout that provides both comfort and style. Floor-to-ceiling windows, spacious rooms, and sleek design elements contribute to an elegant atmosphere.
• This property offers a wealth of amenities for residents, from top-tier appliances and spacious entertainment areas to likely additional touches such as private balconies, or a personal gym and pool if included. These elements offer an exclusive living experience that aligns with the best of luxury rentals.
• Properties in Houghton Estate are typically equipped with advanced security features, ensuring the safety and peace of mind of residents. For high-profile tenants or anyone valuing privacy, this property is likely a secure, peaceful option.
• The rental rate of R300,000 per month positions this property in the ultra-luxury segment of Johannesburg’s market. For renters seeking unparalleled luxury, privacy, and a prestigious address, this is a prime choice. It caters to those who value exclusive, resort-style living in a city setting.
• Residents enjoy access to a gym, spa, multiple pools, and services such as WiFi, DSTV, regular cleaning, a fully equipped business centre, a relaxing day lounge, an 8 km parkland running track, and a signature Jack Nicklaus golf course. 

Using the 30% rule, this property’s cost means that anyone interested in renting this property would have to earn at least R1 million per month. 

Putting this into perspective, according to the World Inequality Database, to be in South Africa’s top 1%, an individual needs to earn approximately R1.95 million per year, which equates to about R162,300 per month.

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