Cost of Living in Melbourne in 2024

Melbourne is ranked 67th most expensive city globally, per Mercer’s Cost of Living City Ranking. Even on a bit costlier side, the benefits of living in Melbourne, especially to study, outweigh this con. It is because the latest QS World University Rankings 2024 featured seven Australian universities in the top 100.

For international students considering Melbourne as their academic haven, embarking on a journey to study abroad can be both exhilarating and overwhelming, especially when it concerns cost. This article explores the cost of living in Melbourne, discussing the financial landscape of this vibrant Australian city.

Living Costs in Melbourne for International Students

When studying in Melbourne as an international student, it's crucial to consider your budget for various living costs. These include accommodation, utilities, food, transportation, health insurance, and personal expenses. Accommodation expenses can vary depending on your preferences. Utilities such as electricity and internet are additional costs to consider. Budgeting for food and groceries is essential to meet your dietary needs. Public transportation, health insurance, and personal expenses for entertainment should also be factored into your budget. Remember to gather accurate and up-to-date information from your university regarding living costs in Melbourne for international students.

List of Necessary Items with Their Cost

Melbourne, renowned for its multiculturalism and world-class universities, offers diverse opportunities and experiences. However, it is important to be well-prepared and informed about the living expenses in Melbourne to make the most of your time as a student in this bustling metropolis.

While calculating the cost of living in Melbourne per month, you must consider certain items necessary for a comfortable and smooth transition. While the price of these items can vary depending on quality choices and even location, here is a list of essential commodities along with their approximate costs:

Average Rent in Melbourne

The average rent in Melbourne can vary depending on location, property type, etc. Here is a general overview of the average rent in Melbourne:

Study Cost and University Tuition Fee

The average cost of living in Melbourne, including university tuition fees, can vary depending on the specific university, degree program, and level of study. However, the average annual tuition fee in Australia for a bachelor's degree can range from AUD 9,000 to AUD 50,000, while for a master's degree, the fee range is typically between AUD 9,000 and AUD 54,000.

The table below shows the average annual fee for UG & PG programs of some famous universities in Australia.

Transportation Costs in Melbourne

Melbourne is widely regarded as one of Australia's most well-connected cities. With an extensive tram network, buses, and trains, getting around Melbourne without a car is convenient and feasible. A reusable public transport ticket called Myki is all you need to explore the city's various transportation options. Transportation costs play a big role in calculating the cost of living in Melbourne for Indian students:

Monash University in Melbourne puts the weekly transport expenditure for international students at AUD 15 to AUD 55 per week, whereas the University of Melbourne puts the weekly transport expenditure for international students at AUD 30 to AUD 60.

Cost of Utilities and Bills in Melbourne

When managing your expenses and maintaining a comfortable lifestyle in Melbourne, understanding the cost of utilities and bills is essential. From electricity and water to internet and mobile phone services, these utilities play a crucial role in daily life. Some of the average expenses on utility are as follows:

Affordable Cities to Live in Melbourne

Melbourne offers a range of cities and suburbs that provide more affordable living options. These areas are known for their lower cost of living than the city center. Here are a few affordable cities to consider in the Melbourne region:

• Coolaroo
• Dallas
• Melton
• Werribee
• Tarneit
• Hoppers Crossing
• Craigieburn
• Pakenham
• Carlton
• Abbotsford

Helpful Tips to Save Money in Melbourne as International Student

Saving money in any international city can be done through various strategies and mindful spending habits. Here are some tips that can help you save money while living in Melbourne:

• Budgeting: Create a monthly budget outlining your income and expenses. Track your spending to identify areas where you can cut back and save.
• Accommodation: Consider living in shared accommodation or the suburbs outside the city center, where rent tends to be more affordable. Look for rental deals or negotiate with landlords for a lower rent.
• Transportation: Utilize public transportation instead of relying on private vehicles. You can also purchase a Myki card for discounted fares and explore off-peak travel options. Consider walking or cycling for shorter distances.
• Grocery Shopping: Plan your meals and create a shopping list to avoid impulse purchases. Look for deals, discounts, and specials at supermarkets. Consider shopping at local markets for fresh produce at lower prices.
• Cooking at Home: Prepare meals at home instead of eating out frequently. This can be more cost-effective and healthier. Pack homemade lunches for work or university to save on dining expenses.
• Entertainment and Activities: Look for free or low-cost entertainment options in Melbourne, such as public parks, festivals, art exhibitions, or community events. Take advantage of student discounts offered by museums, theaters, and other attractions.
• Utilities: Be mindful of your energy and water usage. Turn off lights and appliances when not used, and consider energy-efficient options. Compare utility providers to find the best rates.
• Student Discounts: Take advantage of student discounts available at various establishments, including cinemas, restaurants, retail stores, and transportation services. Always carry your student identification card.
• Second-Hand Purchases: Consider buying second-hand items for furniture, electronics, clothing, and textbooks. Websites, thrift stores, and community marketplaces can offer affordable options.
• Financial Apps and Deals: Use mobile apps that help you track your spending, manage your budget, and find discounts. Stay updated on special deals and promotions offered by local businesses.

Disclaimer: All costs mentioned above are indicative and subject to change at any time.