Mandurah, Falcon and Silver Sands among cheapest coastal communities in Perth to rent a house in

Mandurah, Falcon and Silver Sands have been named among the cheapest metropolitan suburbs to rent a home in.

The Real Estate Institute of Western Australia has released its Housing Affordability Report, looking at the cost factors around home ownership and renting.

While Shoalwater was named as the cheapest suburb in Perth to rent a home, Mandurah was in second with a median rent price of $270 per week.

Falcon came in at third with a median price of $290, while Silver Sands was joint fourth with a weekly rate of $300.

REIWA president Damian Collins said as Western Australia was currently the most affordable place to rent in the nation, there was no better time for tenants to live in a home that suited their lifestyle preferences.

"With coastal suburbs in high demand leading into warmer months, it is pleasing to see that it is now even more affordable to live in these desired locations," he said.

"This is especially compared to the east coast, which is unheard of for tenants to be able to rent a house in a coastal suburb for less than $450 per week.

"It won't always be this way, so I advise those looking for their next rental property to act sooner rather than later if they are wanting to secure an affordable home close to an iconic WA coastal suburb."