Cost of Living in Melbourne, Australia

Melbourne is consistently ranked as one of the world's most liveable cities, known for its vibrant arts scene, world-class coffee culture, and diverse culinary landscape. However, this high quality of life comes with a significant price tag. As Australia's cultural capital, Melbourne offers a sophisticated urban lifestyle that is generally more affordable than Sydney but more expensive than most other Oceania hubs. Residents benefit from excellent public infrastructure, though housing remains the primary expense for both locals and expatriates.

Rent & Housing Prices in Melbourne

3bed centerA$4,600 (approx. $2,990 USD)
price per sqm centerA$11,500 (approx. $7,475 USD)
3bed outsideA$3,100 (approx. $2,015 USD)
1bed centerA$2,450 (approx. $1,595 USD)
1bed outsideA$1,900 (approx. $1,235 USD)

Food & Dining Costs

Meal, Inexpensive RestaurantA$25.00 ($16.25 USD)
Three-course Meal, Mid-range RestaurantA$120.00 ($78.00 USD)
McMeal at McDonaldsA$15.00 ($9.75 USD)
Cappuccino (Regular)A$5.50 ($3.58 USD)
Milk (1 liter)A$2.30 ($1.50 USD)

Transportation & Commuting

one way ticketA$5.30 ($3.45 USD)
taxi startA$5.50 ($3.58 USD)
monthly passA$185.00 ($120.25 USD)
gasoline 1LA$1.95 ($1.27 USD)

Salary & Financing

mortgage rate6.35% (20-Year Fixed)
avg salaryA$5,850 ($3,800 USD) per month

Quality of Life

Melbourne offers an exceptional quality of life characterized by high safety standards, a robust healthcare system (both public and private), and low pollution levels. The city is famous for its 'four seasons in one day' weather and its extensive parks and gardens. While the cost of living is high, the high average wages and cultural amenities offer a balanced lifestyle for professionals and families alike.

3 Days in Melbourne: A Budget Itinerary

Day 1

Explore the CBD laneways (Hosier Lane, Degraves St), visit the National Gallery of Victoria (Free entry), and walk through the Royal Botanic Gardens.

Day 2

Take the tram to St Kilda, walk the pier to see penguins at sunset, and enjoy the bohemian atmosphere of Fitzroy’s Gertrude Street.

Day 3

Browse the Queen Victoria Market for local produce and souvenirs, then take a free tram ride around the City Circle to see historic architecture.

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