Is Melbourne expensive?
AI Answer
Yes, Melbourne is relatively expensive, but less so than other major Australian cities. While Australia as a whole is pricey, Melbourne’s cost multiplier of 0.90x means your money stretches further here than in places like Sydney, where a similar lifestyle would cost you 10% more.
For a single person, expect to spend around AUD $1,200-$1,500 per month on living expenses, excluding rent. Rent will be your biggest hit. A one-bedroom apartment in the city center averages AUD $2,200-$2,600 per month, while outside the center, it drops to AUD $1,800-$2,200.
Australia’s tax burden is moderate. Income tax starts at 19% for earnings over AUD $18,200, rising to 45% for incomes over AUD $180,000. This means a significant portion of your income will go to taxes.
Melbourne balances its cost with a high quality of life, scoring 7.8 out of 10 on our Net Life Value index, reflecting its excellent healthcare, safety, and cultural scene. If you're considering Melbourne, factor in the high cost of rent and a decent tax bite, but know you're getting a top-tier city experience in return.