Moving to Melbourne? The Cost of Living
Melbourne is one of the liveliest cities in Australia, renowned for its art, culture, food and enriched lifestyle. Many people choose to relocate to Melbourne for a career, study purposes or due to a different lifestyle. But, before doing so, you should know the cost of living there isn’t too high to screw up with your financial plans. Here’s a detailed overview of what to expect to spend.
Housing Costs
The most complex financial decision most migrants make when they first arrive in Melbourne is finding somewhere to live. The price of accommodation will differ depending on whether you rent or purchase, as well as the suburb and type of property. Inner-city apartments are convenient for work, public transport and city perks, but they come at a cost. There are also more deals in the suburbs and roomier accommodations for families or people who just like it a bit quieter. Electricity, water, gas and internet are also some of the other monthly extras you should keep in mind.
Typical housing costs in Melbourne:
● City centre, 1-bedroom apartment: AUD 450 – 600+ per week
● Outside city centre, 1-bedroom apartment: AUD 320 – 450 per week ● Monthly utilities (electricity, water, gas, internet): AUD 150 – 250
Transportation
Travelling around Melbourne is also easy, thanks to its extensive public transport system, which includes trains, trams, and buses. A significant portion of Shirley residents commute by public transportation, but many drive, especially for longer trips or those to suburban areas. Cost There are a few factors to consider when it comes to cost, including your transportation preferences, fare zones and how often you ride. It’s economical and healthy to walk or bike short distances. 37.
Typical transportation costs:
● Monthly public transport pass: AUD 160 – 200
● Daily public transport fare cap: AUD 11
● Petrol: ~AUD 1.80 per liter
● Parking in the city: AUD 10 – 30 per hour
Groceries and Daily Essentials
Next to rent, food costs and expenses for everyday things consumed at home form a significant part of the monthly household budget in Melbourne. The bill can vary depending on your diet, how and where you shop (whether you prefer to go to a supermarket or a local farmers’ market) and what part of the country you live in. food shopping in Melbourne There are various options available for food shopping in Melbourne and a lot of people, especially big families, make use of bulk buying as well as weekly sales to save money.
Average monthly grocery costs:
● Single person: AUD 400 – 600
● Popular supermarkets: Coles, Woolworths, Aldi
● Local farmers’ markets: Often offer fresh and affordable produce
Dining Out and Entertainment
Cafes, restaurants and entertainment options are in abundance with a large focus on culinary culture. There are many other ways to experience city life — dining out, concerts, sports events — but they add up if not budgeted thoughtfully. To avoid spending too much on the fun, many locals rely on apps and websites to find deals or score discounted tickets to activities.
Typical dining and entertainment costs:
● Mid-range restaurant meal: AUD 20 – 35
● Coffee at a café: AUD 4 – 5
● Movie tickets, concerts, or sports events: AUD 15 – 100
Healthcare and Insurance
Australia has a robust public healthcare system, but private health insurance is common among many residents as a way to access care more quickly and to obtain supplementary coverage. Setting a budget for health care. One of the most commonsense ways to prepare your income and expenses is by factoring in health care.
Healthcare costs:
● Private health insurance premiums: AUD 150 – 300+ per month for a decent mid-tier policy. The low end is for very basic, high-excess cover.
Miscellaneous Expenses
Other expenses to think about are clothes, toiletries and homeware. Melbourne has something for everyone, whether you’re shopping at high-end boutiques or looking for some value. Many people take advantage of seasonal sales and join clubs to save on various items.
Typical miscellaneous costs:
● Clothing, personal care, household items: AUD 150 – 300 per month
Read More: Melbourne Cost of Living Breakdown: Rent, Bills, Transport & More
Conclusion
Moving to Melbourne can be a fun and fulfilling relocation move, but here’s an insight into living in the city. The amounts of money you will need each month as a single person range between AUD 3,770 and AUD 5,050 – depending on your high/low lifestyle choice, where you decide to live in the South Pacific, and how you plan to spend a time-balance life there. With a little planning, budgeting, and cost-cutting research, you too can make the most of Melbourne without emptying your wallet. It’s helpful to know how much it is to live in, from housing to transport, groceries, leisure and random bits and bobs – as this will be massively useful when you arrive in Melbourne!
If you have used up your mind and decided to move to Melbourne, then here at Moving Champs, we can help make the process easy and stress-free.
Read More: Melbourne Cost of Living Breakdown: Rent, Bills, Transport & More