Home loan affordability by town
What a median home costs against what the median household earns, for every New Zealand town with enough sales: the deposit, the repayment on today’s rates and the share of income it takes.
Every town, most affordable first
On these figures Balclutha is the most affordable of 96 towns, with repayments taking 30% of the median household’s income, and Whangamatā the least, at 97%. In 95 of them repayments would be more than 30% of income. Choose a town for its suburbs.
| Balclutha | $440,000 | $487 | $84,713 | 29.9% | 6.9 |
| Tokoroa | $410,000 | $454 | $75,223 | 31.3% | 7.3 |
| Greymouth | $431,600 | $477 | $76,723 | 32.4% | 7.5 |
| Rolleston | $753,375 | $833 | $129,334 | 33.5% | 7.8 |
| Hāwera | $493,473 | $546 | $84,385 | 33.6% | 7.8 |
| Gore | $480,000 | $531 | $81,731 | 33.8% | 7.8 |
| Invercargill | $515,000 | $570 | $87,214 | 34.0% | 7.9 |
| Winton | $563,000 | $623 | $93,911 | 34.5% | 8.0 |
| West Melton | $847,555 | $937 | $140,202 | 34.8% | 8.1 |
| Dannevirke | $420,000 | $465 | $69,208 | 34.9% | 8.1 |
| Hokitika | $475,000 | $525 | $77,698 | 35.2% | 8.2 |
| Marton | $450,000 | $498 | $72,860 | 35.5% | 8.2 |
| Wellington | $875,000 | $968 | $139,898 | 36.0% | 8.3 |
| Methven | $610,000 | $675 | $97,114 | 36.1% | 8.4 |
| Westport | $349,750 | $387 | $55,681 | 36.1% | 8.4 |
| Te Kauwhata | $683,500 | $756 | $108,023 | 36.4% | 8.4 |
| Ngāruawāhia | $650,000 | $719 | $102,585 | 36.4% | 8.4 |
| Pōkeno | $915,000 | $1,012 | $144,309 | 36.5% | 8.5 |
| Kawerau | $428,750 | $474 | $66,939 | 36.8% | 8.5 |
| Huntly | $535,000 | $592 | $82,274 | 37.4% | 8.7 |
| Timaru | $534,000 | $591 | $81,781 | 37.6% | 8.7 |
| Darfield | $702,500 | $777 | $107,562 | 37.6% | 8.7 |
| Oamaru | $479,500 | $530 | $73,154 | 37.7% | 8.7 |
| Stratford | $490,000 | $542 | $74,632 | 37.8% | 8.8 |
| Drury | $880,000 | $973 | $133,864 | 37.8% | 8.8 |
| Lincoln | $850,500 | $941 | $129,100 | 37.9% | 8.8 |
| Porirua | $826,000 | $914 | $125,292 | 37.9% | 8.8 |
| Temuka | $500,000 | $553 | $75,562 | 38.1% | 8.8 |
| Palmerston North | $625,000 | $691 | $94,348 | 38.1% | 8.8 |
| Ashburton | $570,000 | $630 | $85,512 | 38.3% | 8.9 |
| Feilding | $600,000 | $664 | $87,466 | 39.5% | 9.1 |
| Hastings | $630,000 | $697 | $91,629 | 39.5% | 9.2 |
| Kaitaia | $440,000 | $487 | $63,454 | 39.9% | 9.2 |
| Inglewood | $608,500 | $673 | $87,706 | 39.9% | 9.3 |
| Lower Hutt | $790,000 | $874 | $112,676 | 40.3% | 9.3 |
| Rotorua | $625,000 | $691 | $88,858 | 40.5% | 9.4 |
| Papakura | $800,000 | $885 | $113,612 | 40.5% | 9.4 |
| Te Awamutu | $673,000 | $744 | $95,299 | 40.6% | 9.4 |
| Dunedin | $600,000 | $664 | $84,604 | 40.8% | 9.5 |
| Waimate | $475,000 | $525 | $66,905 | 40.8% | 9.5 |
| Tuakau | $745,000 | $824 | $104,156 | 41.1% | 9.5 |
| Waipukurau | $565,000 | $625 | $78,961 | 41.2% | 9.5 |
| Twizel | $627,500 | $694 | $86,435 | 41.8% | 9.7 |
| Pukekohe | $840,000 | $929 | $115,340 | 41.9% | 9.7 |
| Whanganui | $500,000 | $553 | $67,813 | 42.4% | 9.8 |
| Hamilton | $779,000 | $862 | $105,630 | 42.4% | 9.8 |
| Waiuku | $764,000 | $845 | $101,772 | 43.2% | 10.0 |
| Te Anau | $655,000 | $724 | $87,239 | 43.2% | 10.0 |
| Whangārei | $650,000 | $719 | $86,131 | 43.4% | 10.1 |
| Waitara | $560,000 | $619 | $74,031 | 43.5% | 10.1 |
| Levin | $505,000 | $559 | $66,493 | 43.7% | 10.1 |
| Gisborne | $650,000 | $719 | $85,342 | 43.8% | 10.2 |
| New Plymouth | $708,500 | $784 | $91,492 | 44.5% | 10.3 |
| Wainui | $1,240,000 | $1,372 | $159,853 | 44.6% | 10.3 |
| Morrinsville | $765,000 | $846 | $98,576 | 44.6% | 10.3 |
| Helensville | $865,000 | $957 | $111,062 | 44.8% | 10.4 |
| Mosgiel | $690,000 | $763 | $88,421 | 44.9% | 10.4 |
| Cambridge | $882,000 | $976 | $112,573 | 45.1% | 10.4 |
| Blenheim | $660,000 | $730 | $83,478 | 45.5% | 10.5 |
| Foxton | $526,000 | $582 | $65,949 | 45.9% | 10.6 |
| Napier | $710,000 | $785 | $88,919 | 45.9% | 10.6 |
| Whakatāne | $677,500 | $749 | $84,733 | 46.0% | 10.7 |
| Silverdale | $1,217,500 | $1,347 | $150,035 | 46.7% | 10.8 |
| Auckland | $1,000,000 | $1,106 | $122,804 | 46.8% | 10.9 |
| Te Puke | $780,000 | $863 | $94,834 | 47.3% | 11.0 |
| Dargaville | $509,000 | $563 | $61,595 | 47.5% | 11.0 |
| Nelson | $705,000 | $780 | $85,023 | 47.7% | 11.1 |
| Havelock North | $915,000 | $1,012 | $109,312 | 48.1% | 11.2 |
| Whangaparāoa | $970,275 | $1,073 | $114,186 | 48.9% | 11.3 |
| Oxford | $710,000 | $785 | $83,223 | 49.1% | 11.4 |
| Kumeū | $1,200,000 | $1,327 | $140,581 | 49.1% | 11.4 |
| Tauranga | $860,000 | $951 | $99,356 | 49.8% | 11.5 |
| Richmond | $845,000 | $935 | $96,269 | 50.5% | 11.7 |
| Matamata | $748,000 | $827 | $84,270 | 51.1% | 11.8 |
| Alexandra | $767,500 | $849 | $86,224 | 51.2% | 11.9 |
| Taupō | $850,000 | $940 | $94,938 | 51.5% | 11.9 |
| Cromwell | $940,000 | $1,040 | $104,754 | 51.6% | 12.0 |
| Papamoa | $975,000 | $1,078 | $105,176 | 53.3% | 12.4 |
| Picton | $680,000 | $752 | $69,707 | 56.1% | 13.0 |
| Warkworth | $1,025,000 | $1,134 | $104,636 | 56.3% | 13.1 |
| Lake Hāwea | $1,080,000 | $1,195 | $108,827 | 57.1% | 13.2 |
| Queenstown | $1,400,000 | $1,549 | $137,974 | 58.4% | 13.5 |
| Mount Maunganui | $1,050,000 | $1,161 | $101,957 | 59.2% | 13.7 |
| Waihi | $635,000 | $702 | $61,376 | 59.5% | 13.8 |
| Ōmokoroa | $930,000 | $1,029 | $88,922 | 60.2% | 13.9 |
| Motueka | $717,000 | $793 | $68,287 | 60.4% | 14.0 |
| Kerikeri | $880,000 | $973 | $79,858 | 63.4% | 14.7 |
| Thames | $690,000 | $763 | $61,337 | 64.7% | 15.0 |
| Orewa | $1,180,000 | $1,305 | $103,453 | 65.6% | 15.2 |
| Wānaka | $1,447,000 | $1,601 | $117,303 | 71.0% | 16.4 |
| Katikati | $740,000 | $819 | $56,183 | 75.8% | 17.6 |
| Whitianga | $899,000 | $994 | $68,240 | 75.8% | 17.6 |
| Mangawhai | $1,025,000 | $1,134 | $75,855 | 77.7% | 18.0 |
| Waiheke Island | $1,222,500 | $1,352 | $88,681 | 79.3% | 18.4 |
| Waihi Beach | $1,097,000 | $1,213 | $75,552 | 83.5% | 19.4 |
| Whangamatā | $1,080,000 | $1,195 | $64,074 | 96.9% | 22.5 |
| New Zealand | $800,000 | $885 | $104,168 | 44.2% | 10.2 |
20% deposit, 6% over 30 years, saving 15% of income. Share of income is a year’s repayments over the median household income before tax; above 30% is marked. Loans over 6 times income fall under the Reserve Bank’s debt-to-income limit.
How it is worked out
Each town’s median sale over the last twelve months, from council and LINZ records, as at 18 September 2026, less the deposit, is the loan. Its repayment is principal and interest, weekly, over 30 years at the rate above, held for the whole term. The share of income is a year’s repayments over the town’s median household income in the 2023 census, before tax. The years to save are the deposit over the share of income put aside each year.
It is a guide to how towns compare, not a lender’s assessment. For your own figures, try how much you could borrow or the repayment calculator, and see every lender’s rates on today’s mortgage rates.
Questions
What counts as an affordable mortgage?
A common rule of thumb is that repayments up to 30% of a household’s income before tax are manageable, and above that start to stretch it. Banks test differently: they check what is left after tax and living costs at a test rate above today’s, and cap most lending at six times income.
Why household income and not one person’s pay?
Most homes are bought by a household, often on two incomes, and the census is the one source that gives a median household income for every town and suburb. It is the 2023 census, for the year to March 2023, before tax. Incomes have risen since, so the shares shown are, if anything, a little high.
Where do the prices come from?
The median of every sale recorded in council and LINZ records over the last twelve months, for all homes or by bedrooms. A town needs at least 100 sales in the year to be listed, and a bedroom group at least 10.
What interest rate is used?
Today’s average advertised 1-year rate: the average of every lender’s best 1-year rate on our mortgage rates page. You can type your own. The rate is held for the whole term, which no New Zealand loan is, so the figure is what this rate would cost.
Does it count KiwiSaver or a First Home Loan?
No. The years to save assume a fixed share of income put aside with no interest, KiwiSaver or price growth. A KiwiSaver first-home withdrawal can shorten that a long way, and a First Home Loan needs only a 5% deposit.
More home loan tools
Mortgage repayment calculator
Weekly, fortnightly or monthly repayments and the interest over the loan.
How much can I borrow?
An indicative borrowing limit and a readiness check, from your own figures.
Pay off your mortgage faster
What extra repayments or a lump sum save.
Break fee calculator
A rough cost of breaking a fixed rate early.
Switching banks
Whether moving your mortgage pays, after every cost.
Buying your first home
The steps from saving a deposit to settlement day.
What could your KiwiSaver buy?
Your balance as a price, and homes at it in the suburb you pick.
KiwiSaver first-home withdrawal
What your KiwiSaver could put toward a deposit.
First Home Loan and low deposits
Buying with 5–20% deposit, and what it costs.
Mortgage pre-approval
What it is, what to bring, and how long it lasts.
Today’s mortgage rates
Every lender’s advertised rates, side by side.
Find a mortgage adviser
Advisers and firms near you.