Cost of Living In Melbourne - Essential Tips Before Moving

Moving to Melbourne, Australia, offers both excitement and challenges, particularly regarding the cost of living. While Melbourne is famous worldwide for its livability, it can be expensive to live here. Like big cities, it has its unique costs, such as finding a place to live and getting around. It's important to plan carefully and understand the costs before moving. Despite the challenges, Melbourne has lots of cool stuff to offer, like cultural events and great food. With some planning, you can enjoy living in this diverse and vibrant city without stressing too much about money. Read this blog to learn about the cost of living in Melbourne, Australia.

Essential Moving Tips

1. Plan and schedule tasks.


2. Pack strategically and label boxes.


3. Consider hiring movers.


4. Notify utilities and update addresses.


5. Pack essentials separately.

Affording Melbourne's Culture

• Diverse costs, from housing to daily expenses.


• Inner-city living is pricier; suburbs offer affordability.


• Family expenses: $5,640.30 weekly (excluding accommodation).


• Singles budget around $1,565.40 weekly (excluding accommodation).


• Plan carefully for a seamless transition.

Things You Should Know Before Moving To Melbourne 

Living in Melbourne, Australia offers a dynamic urban experience with diverse lifestyle choices. However, understanding the city's living expenses and essential aspects of moving is crucial for residents and newcomers. We break down the costs of living in Melbourne for various items, allowing you to customize your expenses based on your lifestyle. This helps you estimate how much money you'll require to move to Melbourne.

Melbourne's Average Monthly Income: 

Melbourne's average monthly net salary after taxes is $5,582.31, which is more than the Australian average. To preserve financial stability, nonetheless, one must carefully budget for the high expense of living in the city.

Housing Expenses:

1. City Center:

•    Rent for a 1-bedroom apartment: $1,985.82/month


•    Rent for a 3-bedroom apartment: $3,752.08/month


•    Buying an apartment: Average of $10,392.02 per square meter

2. Suburban or Regional Areas:

•    Rent for a 1-bedroom apartment: $1,673.34/month


•    Rent for a 3-bedroom apartment: $2,575.20/month


•    Buying an apartment: Average of $9,341.18 per square meter

Living in the city centre incurs higher costs compared to suburban or regional areas. While city living offers convenience, suburbs provide more affordable housing. Knowing these expenses helps budget for a move to Melbourne effectively.

Utility Expenses:

Utility costs for an 85 m² flat in Melbourne are approximately $239.42 monthly, covering waste disposal, water, heating, and electricity. Managing these expenses is vital for budgeting effectively, especially with Melbourne's variable weather. Turning off lights and appliances when not in use can help maintain manageable bills and promote sustainability.

Transportation Costs: 

Public Transport:

• Melbourne relies on the Myki card, a prepaid system for trains, buses, trams, etc.


• Managed by Public Transport Victoria, fares vary based on distance, ticket type (e.g., 2-hour, daily), concessions, and discounts.


• The average cost of a one-way ticket, across all transport options, is approximately $4.60.


• The historic tram line system is a unique feature, complementing modern light rail and providing convenient travel within the CBD.


• Inner Melbourne offers a free tram zone, facilitating easy movement around the city centre.

Taxis:

• Taxi fares in Melbourne are regulated, with a starting tariff of $5.00.


• The average charge for a 1km journey is $2.00.


• Waiting time is charged at a rate of $34.08 per hour under normal tariff conditions.

Grocery Costs:

Grocery shopping in Melbourne offers a variety of options, from major supermarket chains to farmers' markets. For those on a budget, here's an estimate of monthly costs for common grocery items:

• White Bread (500 g): $3.40


• Eggs (12): $5.44


• Milk (1 L): $2.12


• White Rice (1 kg): $3.34


• Chicken Fillets (1 kg): $13.26


• Round Beef (1 kg): $23.95


• Local Cheese (1 kg): $14.80


• Potatoes (1 kg): $4.04


• Lettuce (x 1): $5.30


• Tomatoes (1 kg): $7.78


• Apples (1 kg): $4.70


• Oranges (1 kg): $3.95


• Bananas (1 kg): $3.78


• Onion: $3.40


• Domestic beer (0.5L): $6.38


• Imported beer (0.5L): $5.76


• Bottle of mid-range wine: $20.00


• Bottle of water (1.5L): $2.44

With these estimates, individuals can plan their grocery budget effectively and explore various options for their food needs in Melbourne.

Dining Expenses:

Dining out is central to Melbourne's culture, with a wide array of restaurants and cafes offering diverse culinary experiences. From casual burger joints to international cuisines, the choices are endless. Average dining costs vary, catering to all tastes and budgets.

• Inexpensive Restaurant (1 person): $25.00


• Mid-Range Restaurant (3-course meal for 2 people): $120.00


• McDonald's Combo Meal: $15.00


• Domestic Beer (500 ml draught): $11.00


• Imported Beer (0.33 L bottle): $10.00


• Soft drink (0.33 L bottle): $3.88


• Water (0.33 L bottle): $3.44


• Cappuccino (regular): $4.96

Melbourne caters to all tastes and budgets, offering diverse dining options from quick bites to upscale experiences. Plus, with excellent coffee everywhere, satisfying your caffeine cravings is a breeze.

Fashion Price:

In Melbourne, clothing needs to adapt to the city's variable climate. Here's an overview of average prices for essential wardrobe items:

• Running Shoes (Nike or similar) - Approximately $168.72


• Men's Leather Shoes - Around $183.00


• Jeans (Levis 501 or similar) - About $114.10


• Summer Dress (from a popular chain store) - Roughly $76.69

With Melbourne experiencing cold winters and hot summers, a diverse wardrobe is necessary to stay comfortable throughout the year. Investing in quality footwear like running shoes and leather shoes ensures durability, while jeans and summer dresses from chain stores offer affordable style options for different seasons.

Budget-Friendly Melbourne Entertainment:

Here are some of the affordable activities to keep you entertained:

• 
  Melbourne Zoo:
  Explore the wonders of wildlife for just $42.00 per adult.


• 
  Lantern Ghost Tours:
  Experience spooky thrills with tours ranging from $36.00 to $199.00, depending on the chosen experience.


• 
  Eureka Skydeck Southbank:
  Enjoy breathtaking views of the city skyline for only $28.00 per adult.


• 
  Australian Sports Museum Melbourne Cricket Ground:
  Dive into sports history with admission priced at $30.00 for adults ($40.00 with MCG tour).


• 
  Melbourne Aquarium:
  Discover marine wonders with adult admission starting at $42.30 during off-peak times.


• 
  Phillip Island Nature Parks Penguin Parade:
  Witness adorable penguins in their natural habitat for just $13.70 per adult.


• 
  Movie Tickets:
  Catch the latest blockbusters for $22.00 per adult, or explore membership programs for discounts at chain cinemas.


• 
  Clubbing in Melbourne CBD:
  Experience nightlife with cover charges ranging from $15 to $40, depending on the time of entry.

With these affordable entertainment options, you can enjoy the best of Melbourne's attractions and activities without straining your budget.

Childcare & Education in Melbourne:

• 
  Preschool Cost:
  Private, full-day preschool averages $2,571.04/month.


• 
  Public Schools:
  Generally fee-free, but extracurricular activities may incur additional costs.


• 
  Private Schools:
  Varied options; research based on location and budget.

Affordable Health and Fitness Options:

• Gym Memberships Average cost: $75.61 per month for one adult.


• Tennis Court Hire Average cost: $20.67 per hour.

University Student Accommodation Options in Melbourne

Rental Options:

• Within 6 km of CBD: $600.00 - $720.00 per week (3-bedroom); $200.00 - $240.00 per week (share house).


• Suburban/Regional: $285.00 - $345.00 per week (3-bedroom); $95.00 - $115.00 per week (share house).

Student Accommodation:

• 2-bedroom apartment: $270.00 - $325.00 per week.


• 1-bedroom apartment: $355.00 - $435.00 per week.


• Premium apartment with utilities: $425.00 - $520.00 per week.

Other Options:

• Hostel: $230.00 - $285.00 per week (1 bedroom with shared facilities).


• Residential College: $425.00 - $520.00 per week.


• Homestay with a local family: $295.00 - $360.00 per week.

Conclusion

Wishing you a smooth transition to Melbourne. Remember to budget wisely and embrace the diverse opportunities awaiting you. Enjoy every moment of your journey into Melbourne's vibrant lifestyle.

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