Melbourne is a vibrant and active city with a high standard of living and a diverse range of amenities. But how much does it cost to live in Melbourne, and is it affordable?
The average price of a home in Melbourne’s city center exceeds $1 million. However, there are less expensive options in the surrounding suburbs.
This article will examine Melbourne’s cost of living, considering housing, food, transit, and entertainment. You can use this information to plan your budget for moving to Melbourne whether you’re a student, professional, or retiree.
How Much Does A Monthly Rent In Melbourne Cost?
Melbourne is one of the most wealthy and pleasant cities in the entire world and Australia. Although you will undoubtedly live a good life, the monthly cost of living in Melbourne varies depending on whether you are a single person, a family, or a student.
Housing And Monthly Rent
Rental properties in Melbourne can be expensive, depending on where you stay. When renting in Melbourne, the estimated monthly costs are determined by utilities, location, population, and transportation.
The Cost Of Living In Melbourne City
The city center’s CBD is reputed to be the highest-priced area. It is also one of Melbourne’s most livable areas.
In Melbourne’s city center, a single-room apartment typically costs between AUD 2,200 and 3000 a month. However, with a Melbourne average rent of AUD 1,500 to 1,700 per month, you might be able to find less expensive housing.
The Cost Of Living In Melbourne’s Suburbs
More affordable than the city center is the suburbs. Additionally, Bundoora and Box Hill are fantastic suburban areas nearby the city center.
For a single person, including overseas students studying in Melbourne, the average monthly cost of living is AUD 1,947 in the suburbs of that city. In these locations, public transportation such as trams, trains, and buses is available. Additionally, you can get affordable meals, stores, and quality internet.
Entertainment And Eating Out
It is always a good idea to study the social scene of the area in which you are planning to live. Grocery prices in Melbourne are comparable to those in other major Australian cities. You can also spend a night out watching a movie or dining at a restaurant of your choice. While restaurant prices vary by location, you can have a good time for about AUD 20 per night.
Transportation And Utilities
In Melbourne, you can take taxis, public buses, or drive your own car. However, the prices for these vary. A monthly public transportation ticket costs about AUD 156.
Other utilities, such as internet, gas, and electricity, have reasonable average prices that vary depending on your usage. Furthermore, the average annual electricity bill in Melbourne is AUD 1,290.
Is It More Affordable To Live In Melbourne?
If you’re wondering what the cost of living in Melbourne is, you’ve probably compared it to another city. Melbourne is widely regarded as having a lower cost of living. The estimated Melbourne cost of living is AUD 1,947. This includes rent, food, transportation, electricity, and entertainment costs.
Cooking your own meals will help you save money. It may be a more convenient option for someone living in a costly city.
What Is A Fair Salary In Melbourne?
The amount of salary considered “good” in Melbourne differs greatly depending on a number of factors, including your level of experience, the industry in which you work, and the cost of living in the area.
In addition, the average monthly cost of living in Melbourne for a single person is AUD 1,947. For a couple, the average cost of living in Melbourne is around AUD 2,300.
Which Melbourne Suburb Is The Most Affordable?
Your affordability depends on several factors: your income and your lifestyle. Despite the low costs, they also maintain a high living standard in Melbourne.
For more information on how Melbourne House Removalists can assist you in moving your home to Melbourne, contact our friendly customer service team.