How much does it cost to live in Melbourne?

Typical monthly costs in Melbourne are approximately A$2,000 in rent and A$2,000 in other expenses, totalling around A$4,000/month.

How much should I save in Melbourne?

Based on ABS Household Expenditure Survey 2022/23, people at mid-range incomes in Australia typically save 12–20% of gross income. In a high cost city like Melbourne, housing costs can reduce this, particularly for renters.

Melbourne · AUD · high cost city

Cost of living in Melbourne — is your salary enough?

Melbourne median rent is A$2,000/month, significantly below Sydney but rising rapidly post-pandemic. Melbourne earners at mid-income levels are typically close to the national savings benchmark despite rising costs.

Rent in Melbourne

BudgetA$1,500 – A$1,800/mo

TypicalA$2,000 – A$2,300/mo

PremiumA$2,600+/mo

Other monthly costs

Food, transport, bills, going out~A$2,000/mo

Total typical monthly spend~A$4,000/mo

How different incomes stack up

At typical Melbourne costs (A$2,000 rent)

A$50,000 – A$70,000→ saving -6.7%

Critical

A$70,000 – A$95,000→ saving 15.7%

Ahead

A$95,000 – A$130,000→ saving 38.2%

Ahead

See your personal verdict for Melbourne

Country

Annual income (gross)A$82,500

A$20,000A$310,000A$600,000+

Monthly rent or mortgageA$2,000/mo

A$0A$4,000A$8,000+

Other monthly expenses

Food, transport, subscriptions, going out — everything except rent

A$2,100/mo

A$0A$4,500A$9,000+

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Cost figures are estimates based on reported median rents and typical spending patterns. Savings benchmarks from ABS Household Expenditure Survey 2022/23. Figures in AUD.

Check your savings rate in Melbourne →

Compare nearby cities

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Also in the Verdict suite

SalaryVerdict — Is your Melbourne salary competitive?SpendVerdict — Is your Melbourne rent too high?