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Cost of living in Melbourne

The Victorian capital of Melbourne is without doubt a world-class city.

From major events to festivals, the arts, sport and top-notch food, there is always plenty to see and do.

However, be warned: Melbourne is the second-most expensive city in Australia when it comes to cost of living.

Only Sydney is a more expensive city to live in.

So just how much does it cost to live in Melbourne?

Let’s take a look.

Housing

Housing is a big reason why the cost of living in Melbourne is high.

For the December quarter of 2023, the median rent price in metropolitan Melbourne was $520 per week.

For families, the median rent price for a four-bedroom home was $560 per week.

For those looking to buy, house prices in Melbourne are very high.

The median values for the December quarter of 2023 stood at $942,750 for houses and $608,181 for units.

When it comes to cost of living calculations for Melbourne, rent is estimated to make up about 35 percent of total monthly cost.

Food and Groceries

Behind housing, food and groceries is the next biggest expense when it comes to the cost of living in Melbourne.

Studies found that in 2023, Victorian’s spent an average of $193 per person, per week on groceries – the highest amount in the country.

Other studies have shown that grocery prices in Melbourne are 0.6 per cent higher than the Australian average.

Utilities

Utility prices in Melbourne are mixed.

As of December 2023, one Canstar Blue study showed the average quarterly electricity bill in Victoria to be $320 – higher than Queensland ($315) and Western Australia ($296) but lower than the other states and territories.

However, the average quarterly gas bill in Victoria came in at $237 – the highest in the country.

By comparison, the average quarterly gas bill in Western Australia was $143 and Queensland was $179.

Average quarterly water bills in Victoria ranked mid-table compared to the rest of the country at $208.

Internet and mobile phone prices across Australian capitals are fairly standard.

Transport

Melbourne has some of the highest transport costs in the country.

Throughout 2023, Melbournians shelled out an average of 191.9 cents per litre of petrol – the second-most of any city behind Brisbane.

As of April 2024, weekday public transport fares for adults in Melbourne cost $10.60, with weekly passes available for $53.

Eating out and entertainment

Discretionary spending in Melbourne is another large expense.

In December 2023, a meal at an inexpensive restaurant costs an average of $25, while the average price of 0.5L of draught beer was $13.25 – the highest of any Australian city.

Monthly fees for gyms in Melbourne averaged around $90 in 2024.

Total cost of living in Melbourne

According to comparison website Numbeo, monthly living costs for a single person in Melbourne in 2024 sit at $1655 – excluding rent.

For a family of four, the estimated monthly costs are $5876 without rent.

Ready to move to Melbourne?

Melbourne might be a relatively expensive place to live, but moving there won’t cost you an arm and a leg.

At Fragile Removals & Storage, we offer local and interstate removalist services with the highest quality of service at very competitive prices.

Get ready for your move to Melbourne by giving us a call on 1800 500 584 to discuss all your moving needs.