Mudgee tops the list for the most expensive place to rent a home in the region with a median cost of $400 a week but Orange is a close second.

Renters are forking out an average of $380 a week to rent a home in Orange.

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The Domain report for the September 2019 quarter shows the median rental costs by town and how they have changed during the past year.

The report also shows the estimated rental yield for investors.

Aside from Mudgee and Orange, Dubbo ($350) landed in the most-expensive top three while other regional centres in the Central West like Bathurst ($330), Parkes ($320) and Oberon ($320) were also above the $300-a-week mark.

The average cost for renters in Lithgow is $300; Cowra, Wellington and Young are $270; Forbes' median cost is $265, while the cheapest pace is Cootamundra at $260 a week.

When comparing year-on-year rental prices rises - Parkes topped this list with a 14 per cent jump in costs for renters.

This was followed by eight per cent in Cowra and Mudgee, and six per cent in Forbes and Orange.

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There was a four per cent increase in the median rental cost in Cootamundra, a three per cent jump in Bathurst and Oberon and two per cent in Young.

While median costs stagnated in Dubbo and Lithgow, they dropped by -4 per cent in Wellington.

For investors, the Domain report also revealed the top towns in the region to purchase a property.

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The highest yield can be found in Wellington at 7.3 per cent, it then drops to 6.2 per cent in Parkes and 6.0 per cent in Cootamundra.

Other towns have a lower yield, including: Oberon (5.9 per cent), Cowra and Forbes (5.8 per cent), Young (5.6), Dubbo (5.4), Mudgee (5.3), Lithgow and Orange (5.0) and 4.3 per cent in Bathurst.

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