A humble three-bedroom home listed for rent at $950 a week has people irate as the Queenstown property market climbs ever higher.

The cost per bedroom would be about $316 a week, the cost of renting a whole house in some places.

The Trademe listing for the Mackinnon Tce, Sunshine Bay property states a maximum of six people could tenant it, and it was in a "family area" suitable for "hardworking people".

supplied A Trademe listing for a home in Queenstown is asking for rent of $950 a week.

People expressed their disgust at the price on social media.

Jason Chisholm said: "Bloody ridiculous. That is a total rip off. Take the piss out of an already bad situation."

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Fairfax NZ A Mackinnon Tce, Queenstown home for rent at $950 a week.

Dan Coates said: "I really hope this place stays empty all year and the greedy [landlord] suffers a loss. Unfortunately, this place will probably be snapped up in no time."

Opal Rickerby said: "Rent prices here are [terrible]. People are well and truly taking advantage of others. For that price bills should be included."

The listing said that apart from being fully-furnished, the home, about a 3km uphill walk from the centre of town, came with free wifi, sported "wicked views" and was "not a cold hole".

Fairfax NZ A Mackinnon Tce, Queenstown home for rent at $950 a week.

Sarah Ray, who made the social media post, said her four-person family could never afford that price, and with only 11 properties listed for rent in Queenstown, she was desperate.

"WTF is this town coming to," Ray posted.

The Government's Tenancy Services website shows median rent prices in Queenstown to be about $550 a week, about the same as swanky Auckland suburb Remuera.

The full-time median income was about $989 a week, according to Careers New Zealand.

Property owner and landlord Maryjane​ Walker defended her price saying she was "quite entitled" to run a business in a "target market".

"People can say what they like on social media.

"There are unfurnished places on the market that they can rent if they don't like it," she said.

Walker said she could put the home on Airbnb and make $1500 a night, but chose not to as Airbnb was the "cause of the housing shortage".

"I am choosing to provide very good accommodation. It's high end ... targeted at the backpackers.

"I think there's room for people like me in Queenstown."

Walker bought the home for $400,000 last year and had put $100,000 into renovating it.

"It's cheaper than a backpackers [and] I provide everything.

"I can assure you that the tenants that I have there now are happy.

"I'm not a slum landlord."

Stuff requested a tour of the home, but Walker declined.

Present tenant Thivo Reziere, of France, felt the price was fair when broken down between six people, but could see it would be tough for a family.

"It's pretty much a good deal," he said.

"She told me she doesn't want a family [in it]."

Reziere said six tenants shared the three bedrooms and he didn't mind that.

Queenstown Accommodation Centre managing director Allan Baillie said the price was "on the money" if someone chose to rent it.

"The market is what the market is," Baillie said.

"The market will work out whether it's fair."

He had not seen rents that high in Sunshine Bay, but it was now considered the centre of town.

The property wasn't the most expensive rental in Queenstown listed on Trademe with a five bedroom, 1960s style home close to town with an asking price of $1350 a week.

Point Property Portfolio Management general manager Colin Henderson said the home had recently been rented.

As of Monday, Trademe had 11 three bedroom properties to rent in the Queenstown area with the cheapest being 40 minutes away at $560 a week.