Melbourne Cost Of Living

Melbourne is widely recognized as an Australian city that holds something special for everyone, whether you’re a permanent resident or someone coming to experience life in the city. Melbourne is famous for its thriving café culture and diverse food scene, where you can find dishes from all over the world. Not only does Melbourne have a beautiful backdrop of historic architecture mixed with modern design, but it’s always alive with energy, from lively arts to great live music.

This detailed guide breaks down housing prices, transportation, groceries, and more, along with tips to save money—helping you plan your move with confidence.

Why It’s Important to Understand Budgeting When Moving to Melbourne. 

Moving to Melbourne can be exciting, but the city is one of the most expensive places in Australia. When it comes to your budget, a little forward thinking will allow you to enjoy the experience and settle in without any financial stress. Here’s why budgeting is essential:

• Build an Emergency Fund – There may be unexpected costs, including medical treatment, home repairs, or new living conditions. Funds to cover these instances protect you.
• Choose the Right Accommodation—Melbourne has a variety of accommodations. As soon as you know how much you want to spend, you are more likely to select accommodation that is within your budget but does not exceed what you can afford.   If you are planning to relocate to Melbourne, services such as man-with-a-van, furniture removalists, and interstate removalists can help you move affordably and conveniently.
• Arrange Your Budget Around Moving Costs – Plan for moving and shipping services, including deposits and utilities, so you know where your money goes and can allocate it effectively to your move.
• Cope With High Cost Of Living—Melbourne costs quite a bit for rent, groceries, utilities, transportation, and many day-to-day expenses. And ongoing budget clarity will help ensure you can afford to live the life but also pay for your essentials.

How Much Will Rent and Housing Cost in Melbourne?

Housing is usually the most significant monthly expense for anyone living in Melbourne. However, the rent cost varies based on the Property type, the location you choose, and access to public transport or services.

Generally, when deciding to live closer to the City, the CBD area is more expensive due to greater convenience, such as access to job hubs, universities, nightlife, and public transport. 

On the other hand, Suburban areas are a bit farther from the CBD and tend to offer more space at lower prices. These areas often offer larger living spaces, such as townhouses, making them a perfect choice for families or those seeking a peaceful lifestyle.

Property Type	City centre cost	Middle-ring suburbs	Outer ring suburbs costs
One-bedroom apartment	$500-$700	$420-$580	$370-$480
Two-bedroom apartment	$650-$950	$520-$720	$460-$620
Three-bedroom apartment	$800-$1,200+	$620-$850	$520-$700

Important notes to consider:

• All the figures mentioned above are in dollars [AUD] per week.
• Also, please note that if the apartment is new and has facilities such as a gym, pool, and security, it will cost more. On the other hand, if the condo is old or has fewer facilities, it will cost less. 
• Rental prices in Melbourne do not stay the same all the time, as they can decrease or increase depending on demand, interest rates, or seasons. 
• Because of these reasons, the price you see today may not be the same in a few months. That’s why it is essential to check the current listing online when looking for a place to rent.
• If you wish to check an up-to-date listing, always refer to the Australian real estate website realestate.com.au. 

Buying Property in Melbourne

Buying Property in Melbourne is more than a long-term commitment, as it’s an investment in one of Australia’s culturally rich cities. Understanding the market trend and comparing the areas can help you make the right decisions, whether you are a first-time buyer, an investor, or a family looking for an ideal home.

Property type	Inner Suburb Price	Middle suburb price	Outer suburb price
Median house	AUD $1.1M-$2.2M	$850K-1.1M	$650K-$850K
Median apartment	AUD $550K-$900K	AUD$450-650K	$380K-$500K

Additional Costs to Consider When Buying Property in Melbourne

When buying a property in Melbourne, the purchase price is just the beginning. So, to avoid last-minute surprises, it’s essential to plan for additional costs that are part of the property buying process.

Legal and Conveyancing Fees [AUD 1,000-2,500]

Hiring a Licensed conveyancer is one of the wisest choices when buying a property, as they take care of all the legal work, such as ownership, contract checks, and settlement. However, the fees depend on how complicated the purchase is, whether it’s a house or an apartment, and the service you need.

Buying Pest Inspections [AUD 500-1,200]

When you buy a property in Melbourne, it’s always important to get a pest inspection, as this can help you detect damage and hidden issues that could be expensive to fix later.

Ongoing Costs

Owning a property means you will be responsible for the ongoing costs you need to plan for.

• Council Rates—The local council charges prices based on your property’s value to pay for things like parks and roads. This usually costs between AUD $1,200 and $3,000 per year, depending on the property type and the suburban area.
• Home insurance—Insurance protects your home and belongings. The costs typically range from AUD 800 to 1,500 per year.

Utilities and Bills in Melbourne: What Will You Have to Pay?

Whether you are relocating to Melbourne or have been living there for some time, utilities such as water, gas, and internet are part of your monthly expenses. 

Several factors may determine when you pay for your utility services. You may have noticed that larger households use more electricity, gas, and water than a single-person apartment, which means lower bills. Understanding these costs in advance helps you manage smartly and avoid surprises on your monthly bills.

Utility	Single person [per month]	Family Home [per month]
Electricity	AUD 100-250	AUD 200-400
Gas	AUD 40-80	AUD 100-180
Water	AUD 50-90	AUD 100-150
Internet	AUD 60-100 [unlimited NBN]	AUD 90-130 [High-speed plans]

Save more every month with these utility Hacks.

• You can collect the rainwater for gardening purposes to save on your water bills.
• Also, if you want to reduce your long-term electricity bills, then you can install a solar panel.
• Washing clothes in cold water in winter can reduce electricity use.
• Fix all leaking taps and toilets immediately, as minor leaks might increase your water bills over time.

Costs of Studying For International Students in Melbourne

Melbourne is Australia’s most vibrant city, attracting international students each year because of its top-class universities and dynamic lifestyle. While the city offers excellent educational opportunities, it’s essential to plan your finances carefully, as both tuition and living expenses can be substantial.

Degree type	Estimated annual tuition IN [AUD]	Approximate in [INR]
Bachelor degree	AUD 20,000-45,000	₹ 13L-₹30L
Master’s degree	AUD 22,000-50,000	₹14L-₹33L
PHD	AUD 18,000-45,000	₹12L-₹30L
Vocational diploma/certificate	AUD 4,000-22,000	₹2L-₹15L

Which Melbourne Universities Give the Best Value for International Students?

Melbourne provides world-class education without breaking the bank. Some of the well-known universities in Melbourne are

• RMIT University offers career-focused programs in engineering, business, and design at the most affordable prices.
• The University of Melbourne ranks highly for its low-cost research programs and scholarships for international students.
• Monash University offers multiple scholarship opportunities for international students, making it an attractive choice for budget-conscious learners.

How to apply to universities in Melbourne for international students 

• First, select the course that meets your goals.
• Check the university’s requirements for the course that you are planning to study in Melbourne.
• Then your work is to prepare all the documents, which include CVs and a visa. Keep both hard and digital copies.
• You can apply online to the university that you have chosen. Start by creating an account on the university’s official site.
• When your account is created, carefully fill in all the required information, including personal and academic details.
• Submit your application and note down the reference number for future tracking.
• After submitting your letter, wait for the university’s offer letter.
• When you receive the confirmation of enrollment from the university, you can apply for the student visa.
• We recommend that you apply for the visa at least 3-4 months before your course begins.
• Next, arrange accommodation and travel, and book the flights accordingly.

Healthcare System in Melbourne 

Whether you are a student or a professional person, being familiar with how appointments and emergency services work in Melbourne can save time when you or your family need medical attention. In Melbourne, healthcare services are easily accessible, ranging from general practitioners to specialized clinics and emergency care centers.

Public health care

• In Melbourne, the Healthcare system is supported by Australia’s public system, Medicare, which helps lower the cost of medical care. 
• Services covered by Medicare 
• At public hospitals, consultation fees are generally free.
• The cost of visiting a general practitioner in Melbourne varies. A general practitioner usually costs around AUD $40 to $85.
• Hospital stays and emergency care in public hospitals are generally covered.
• If your doctor asks you to get tests like X-rays, blood tests, or scans, the cost is often reduced because Medicare pays for part of it.
• Also, please note that not all international students are eligible for Medicare. They are required to hold overseas student health cover [OSHC], which assists with basic medical costs.

Private healthcare in Melbourne

Most of the residents and international students prefer private healthcare because it offers shorter wait times and greater flexibility in choosing doctors and access to a broader range of treatments.

Key features of Private Healthcare-

• When visiting a private GP Doctor in Melbourne, the cost of services can range from AUD $65 to $120, depending on the clinic and the type of consultation.
• One of the advantages of private healthcare is that it offers greater comfort, such as the option to choose your doctor and to stay in private rooms. 

Read More: How to Choose the Best House Removalists in Melbourne

How to save money on healthcare in Melbourne

• Always remember that staying healthy helps you avoid expensive treatments. A healthy lifestyle, including exercise and a balanced diet, can help prevent illness and reduce long-term healthcare costs.
• If you decide to get private health insurance, we recommend taking time to compare plans and providers. Make sure that your plan matches your needs so you are not paying for extra services you don’t use.
• Melbourne also has many community health centers that provide low-cost or free services, including mental health support, women’s health care, dental assistance, and counselling. 

Transportation in Melbourne

Melbourne has a well-connected transport network, including trams, buses, and trains, making it easy to move around the city and its surrounding suburbs. With so many travel options available here in Melbourne, it’s essential to understand how transportation works.

Public transportation [Myki Card]

Melbourne uses the Myki card, which is a reusable smart card for trams, trains, and buses.

Price: AUD 3.00-5.30 per trip, which depends on zones and duration.
Daily travel cap– Around AUD 10.60 in metropolitan areas.

The best advantage of the card is that it is simple, cashless, and more affordable than buying a single ticket.

Tips to save

• Use off-peak travel when possible to get cheaper fares
• Check the routes to avoid unnecessary zone changes, as they may increase the fare.

Trains 

Trains are the fastest way to travel long distances in Melbourne, connecting suburban areas to the city center.
Average costs: AUD 3.00-5.30 per trip with a Myki card

Tips to save

Travel outside busy hours to get the low-priced tickets and a comfortable ride.

Buses

• Buses connect areas that trams and trains do not cover, including shopping centers, schools, and industrial areas.
• They are helpful for both occasional travel and daily commutes.

Average costs—AUD 3.00-5.30 per trip [depending on the travel zone].

Why is Hiring Professional Removalists Essential For Your Move?

Relocating to a new location or home is often one of life’s most exciting yet challenging experiences. From packing delicate belongings to navigating heavy furniture through tight spaces, a move involves countless tasks that require the right skill and patience.

This is the reason why professional removalists come in. Selecting a reliable company like Team Removals can help you have a safe, smooth, and organized moving experience.

Below are reasons why hiring professionals is one of the best choices:

• Professional movers have more than 10 years of experience packing and transporting items safely to minimize the risk of damage or loss.
• Hiring them reduces stress and saves your time.
• Also, well-respected companies provide insurance to protect belongings in the event of damage.

Conclusion

Starting a new life in Melbourne is an exciting opportunity for anyone, whether you are a student pursuing further studies or a family looking for a good quality of life in this city. But expenses such as groceries, transportation, and entertainment can add up quickly. Hence, budgeting and planning accordingly is one of the smartest choices that one can make for a smooth transition. Hiring professional removalists can make the entire process much easier. At Team Removals, their team will handle everything from packing to arrival, ensuring proper organization at the new location.