Savings rate in Melbourne — are you on track?
Melbourne is a high cost city. 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.
Median rent
A$2,000/mo
Melbourne 2023
Typical other costs
A$2,000/mo
excl. housing
Savings benchmark
4–13%
mid-income AUD
Pre-set for Melbourne — adjust to your situation
What a good savings rate looks like in Melbourne
Using data from ABS Household Expenditure Survey 2022/23, people at mid-range incomes in Australia typically save between 4–13% of gross income. In a high cost city like Melbourne, housing costs can compress that meaningfully — especially for renters.
Source: ABS Household Expenditure Survey 2022/23. Benchmarks shown for mid-income earners in Australia.
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