Cost of Living in Australia for Students & Family in 2024

cost of living in australia

Australia offers a standard quality of life, stunning natural sites, and vibrant cities. It has become a top choice for people worldwide seeking employment, education, or vacation, and for good reason.

It is among the countries where the cost of living can be quite high; therefore, knowing the possible expenses is very important. This article will focus on the cost of living in Australia and look at the various factors that can contribute to these costs. 

For those who are planning to migrate to Australia, do read on!

 

Disclaimer: This article contains information gathered from online platforms as of August 26th, 2024. The sources are provided below.

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Average Cost of Living in Australia for International Students

Currently, Australia has become one of the most preferred study destinations for international students. Below is a breakdown of the typical living cost in Australia for international students : 

Average Living Cost in Australia for International Students Monthly Expenses (in AUD)
Accommodation  AUD 800 - AUD 2,000 
Food and Groceries AUD 280 - AUD 480
Transportation AUD 75 - AUD 216 
Utilities AUD 270 - 490
Entertainment AUD 100 - AUD 120
Personal Expenses AUD 80 - AUD 90

Average Cost of Living in Australia for Bachelors, Couples & Families

Understanding Australia's average cost of living is crucial for effective financial planning, whether you're single, a couple, or raising a family. The table below will help you plan your finances accordingly:

[Source]

Area of expense Bachelors Couples Families
Accommodation City Centre: AUD 1,500 - AUD 2,000/month
Suburban Areas: AUD 1,200 - AUD 1,800/month		 City Centre: AUD 2,000 - AUD 3,200/month
Suburban Areas: AUD 1,500 - AUD 2,200/month		 City Centre: AUD 3,000 - AUD 5,000/month
Suburban Areas: AUD 2,000 - AUD 3,500/month
Food and Groceries AUD 80 - AUD 150/week AUD 150 - AUD 250/week AUD 200 - AUD 350/week
Transportation AUD 30 - AUD 60/week AUD 50 - AUD 100/week AUD 150 - AUD 250/week
Utilities AUD 150 - AUD 200/month AUD 180 - AUD 250/month AUD 250 - AUD 400/month
Entertainment AUD 50 - AUD 150/week AUD 100 - AUD 200/week AUD 150 - AUD 300/week
Personal Expenses AUD 50 - AUD 150/week AUD 100 - AUD 200/week AUD 150 - AUD 300/week

Cost of Living in Major Cities in Australia

Here is a list of the average cost of living in the top cities of Australia:

 

Cost of Living in Sydney

The average cost of living in Sydney is as follows: 

Area of Expense Students Bachelors Couples Families
Accommodation AUD 650 – AUD 1,000/month AUD 1997/month AUD 2,000 - AUD 3,500/month AUD 3759/month
Food and Groceries AUD 754/month AUD 863/month AUD 150 - AUD 250/week AUD 2215/month
Transportation AUD 160/month AUD 626/month AUD 60 - AUD 120/week AUD 1626/month
Utilities AUD 190/month AUD 177/month AUD 200 - AUD 300/month AUD 273/month
Entertainment AUD 50-AUD100/month AUD 50-AUD 100/month AUD 100 - AUD 200/week AUD 300 – AUD 800/month

Cost of Living in Melbourne

The average cost of living in Melbourne is as follows:

Area of Expense Students Bachelors Couples Families
Accommodation AUD 800 – AUD 1200/month AUD 1334/month AUD 1,800 - AUD 3,200/month AUD 2155/month
Food and Groceries AUD 500- AUD 600/month AUD 566/month AUD 140 - AUD 220/week AUD 1450/month
Transportation AUD 160/month AUD 315/month AUD 50 - AUD 100/week AUD 803/month
Utilities AUD 220/month AUD 121/month AUD 180 - AUD 270/month AUD 181/month
Entertainment AUD 80- AUD 140/month AUD 80 – AUD 140/month AUD 90 - AUD 170/week AUD 120 – AUD 480/month

Cost of Living in Perth

The average cost of living in Perth is as follows:

Area of Expense Students Bachelors Couples Families
Accommodation AUD 300 – AUD 800/month AUD 1713/month AUD 1,500 - AUD 2,800/month AUD 2740/month
Food and Groceries AUD 696/month AUD 872/month AUD 120 - AUD 200/week AUD 2216/month
Transportation AUD 168/month AUD 385/month AUD 45 - AUD 90/week AUD 997/month
Utilities AUD 147/month AUD 204/month AUD 160 - AUD 240/month AUD 327/month
Entertainment AUD 50 -AUD 100/month AUD 100 – AUD 200/month AUD 80 - AUD 150/week AUD 300 – AUD 500/month

Cost of Living in Brisbane

The average cost of living in Brisbane is as follows:

Area of Expense Students Bachelors Couples Families
Accommodation AUD 840 – AUD 2,000/month AUD 1858/month AUD 1,800 - AUD 3,000/month AUD 2555/month
Food and Groceries AUD 560 – AUD 1,120/month AUD 851/month AUD 140 - AUD 220/week AUD 2180/month
Transportation AUD 90 – AUD 120/month AUD 388/month AUD 50 - AUD 100/week AUD 998/month
Utilities AUD 170 – v 215/month AUD 175/month AUD 180 - AUD 270/month AUD 257/month
Entertainment AUD 80 – AUD 100/month AUD 100 – AUD 150/month AUD 90 - AUD 170/week AUD 300 – AUD 400/month

Cost of Living in Canberra

The average cost of living in Canberra is as follows:

Area of Expense Students Bachelors Couples Families
Accommodation AUD 400–AUD 500/week AUD 1,400 - AUD 2,600/month AUD 1,900 - AUD 3,300/month AUD 3,000 - AUD 5,200/month
Food and Groceries AUD 100–AUD 150/ week AUD 95 - AUD 145/week AUD 145 - AUD 230/week AUD 230 - AUD 360/week
Transportation AUD 4.80/ day AUD 40 - AUD 70/week AUD 60 - AUD 120/week AUD 100 - AUD 200/week
Utilities AUD 20–AUD 50/ week AUD 150 - AUD 200/month AUD 200 - AUD 300/month AUD 300 - AUD 450/month
Entertainment AUD 40 - AUD 80/week AUD 75 - AUD 150/week AUD 100 - AUD 200/week AUD 150 - AUD 300/week

Factors Impacting the Cost of Living in Australia

It is important to consider the following factors that impact the cost of living in Australia: - 

Location

Regional areas offer more affordable living but fewer amenities, whereas urban areas like Melbourne and Sydney tend to be pricier due to high demand.

Lifestyle

Personal choices such as dining out and leisure activities can impact living expenses in Australia.

Housing

Rent and property prices determine the housing costs in Australia.

Transportation

Public transport is usually affordable in major cities. However, owning a car can increase expenses.

Utilities and Groceries

Groceries can be more expensive in remote areas due to transportation costs. Utility costs vary by region.

What is the Average Income in Australia?

As of 2024, the average income in Australia is approximately AUD 92,000 per year. The income needed to live comfortably in Australia varies based on the city and lifestyle:

  • Student: An income of around AUD 25,000 to AUD 35,000 per year is usually sufficient to live comfortably as a student. 
  • Bachelor: A single person typically needs an annual income of AUD 50,000 to AUD 70,000 to live comfortably in major cities like Sydney and Melbourne. 
  • Couple: A couple generally needs a combined income of around AUD 80,000 to AUD 120,000 per year to cover accommodation, food, transportation, and entertainment.
  • Families: An annual income of AUD 120,000 to AUD 180,000 is usually required to cover all expenses for a family of four.

The following table provides an overview of the average salary in Australia:

Job Profile Average Salary (in AUD)
Neurosurgeon AUD 389,942 - AUD 1,023,102
Chief Executive Officer (CEO) AUD 400,000 - AUD 204,000
Anaesthetist AUD 380,000
Financial Analyst AUD 300,000
Head of HR/HR Director AUD 300,000
Legal Professionals AUD 200,000
Construction Manager AUD 175,000
Mining Engineer AUD 180,000
Financial Investment Advisor AUD 160,000
Pilot AUD 160,000
Software Architect AUD 150,000
Project Manager AUD 116,000
Architect AUD 109,000
Civil Engineer AUD 88,800
Teacher AUD 74,800
Registered Nurse AUD 72,600
Accountant AUD 66,100
Secretary AUD 43,800

How Expensive is Australia Compared to Other Countries?

Australia is known for its higher cost of living, which is higher than in 87% of countries around the world. However, the country provides excellent healthcare, high wages, and social services to balance this out. If you are considering moving to Australia, it's crucial to understand the comparison between the country's expenses and those of other major nations.

The following table compares the average cost of living in Australia with other major countries of the world: 

City Accommodation (1BHK) (Monthly) Transportation (Monthly) Meal for 2 People (3 course) Others (Miscellaneous Expenses)
Sydney Starting AUD 2,255.23 Starting AUD 160 AUD 120 AUD 50 - AUD 100 (per month)
New York Starting $2,960 Starting $132 $130 Starting $200 (per month)
London Starting £1,100 Starting £177 £80 £200 - £300 (per month)
Singapore S$2,000 - S$4,000 S$1,000 - S$1,500 S$92.50 S$200 - S$400 (per month)
Dubai Starting AED 4,904 Starting AED 300 AED 300 AED 600 (per month)
Tokyo ¥150,000 - ¥200,000 ¥10,000 to ¥15,000 ¥7,125 ¥10,000 - ¥15,000 (per month)
Berlin €800 - €1,200 €80 to €90 70 €100 - €200 (per month)
Shanghai Starting CNY 3,785 Starting CNY 250 CNY 200 CNY440 (per month)

Tips for Reducing the Cost of Living in Australia

Consider the following tips to reduce the cost of living in Australia: 

  • Use budgeting apps and spreadsheets to track your spending and identify areas where you can cut back. 
  • Consider living in less expensive suburbs or sharing apartments with friends. 
  • Save on transportation costs by using public transport instead of owning a car. 
  • To reduce grocery bills, shop at street and flea markets.
  • Save on utilities by using energy-efficient appliances. 
  • Minimise entertainment costs.
  • Take advantage of student and senior discounts. Many places in Australia offer reduced rates for students and seniors. 
  • Consider applying for a student job to save some extra money.

Hence, clearly understanding the average expenses in Australia is crucial whether you are considering studying there or settling with your family. Making a budget and planning your finances will ensure you enjoy a fulfilling and comfortable life in one of the world's most amazing destinations.

FAQs about the Cost of Living in Australia