Cost of Living in Melbourne For Students 2023

Melbourne – Australia’s second-biggest city is commonly named one of the world’s most liveable cities, and the first capital of Australia. It features grand Victorian buildings built during the 1850s Gold Rush and the 1880s boom. Australia’s “Sports Capital” is the venue of the Australian Open, the Formula 1 Grand Prix, and the Melbourne Cup, a top equestrian event. Melbourne’s cultural energy is apparent everywhere, its visual arts, literature, theatre, and, especially, live music scenes are dynamic and popular. If you intend to relocate to this beautiful city for further education, it is critical that you understand the cost of living in Melbourne as well as each of your individual costs so that you can plan your budget.

Cost Of Living In Melbourne For Students

The cost of living in Melbourne for international students can be quite high, with expenses such as accommodation, food, and transportation being the main contributors. The average cost of living in Melbourne for students ranges between AU$ 2,132 to AU$ 2,652 per month. Accommodation & food costs can vary depending on the type of housing and location students choose to live in. Public transportation in Melbourne is relatively affordable and efficient, with a range of options including buses, trains, and trams. International students should budget accordingly and be aware that Melbourne is considered one of the more expensive cities in Australia to live in.

Campus Accommodation

For many students, accommodation is considered the most expensive option, but it also comes with a lot of benefits and convenience for themselves. Staying on campus not only means you’re staying close to the University but also you save money on various expenses such as food and transport.

The average cost of living on campus at a university in the Melbourne area is around AU$ 3,156 per month. Keep in mind that you will have your meals cooked for you every day, so utilities are included and you will most likely be travelling less than you would be if you lived off-campus. However, you will still need to budget for eating out, health costs, your phone bill, and entertainment.

Student Accommodation

Living in student accommodation is getting a similar experience and culture to living on campus that too at an affordable price. There are numerous commercial accommodations for students scattered across Melbourne’s CBD. You can check UniAcco for the best and most affordable student accommodation options. The monthly cost of good off-campus accommodation in Melbourne ranges somewhere around AU$ 2,292 per month.

There can be variations in cost depending on the room choice, however, you need to remember this only includes your rent and utilities. You need to take care of food, entertainment, eating out, phone, and health costs. You can also find accommodations very close to the University, within walking distance so that you don’t need to spend any money on travel. 

Share House Accommodation

Moving into a share house is considered the cheapest accommodation option when you shift to Melbourne. The rent of the sharehouse depends on several factors such as where is the sharehouse located, how old is the house, how many people are you moving in with, etc. Your individual preference for the factors above will impact the price.

When signing a lease for a shared student accommodation in Melbourne you are expected to pay an upfront security bond payment to the Residential Tenancies Bond Authority. The standard amount is 4 x your weekly rent payment but could be more depending on the individual home. Once you have decided to move out of your sharehouse, you receive your amount back.

Travelling Cost

Trams, trains, and buses are favoured transport choices in Melbourne, and rightly so with easy access to Melbourne’s CBD and the top tourist spots.

Victoria offers International Students an iUSEpass that gives them a 50% discount on the annual price of Myki(reloadable smart card). On average, the travelling cost is around AU$ 159 per month. Depending on which accommodation option you settle on will influence your need for an iUSEpass. 

Food & Drinks

If you are looking at student accommodation you need to take care of your meals. You can either order your meals from UberEats and MenuLog or can also prepare meals at home. However, buying groceries and meal prepping at home is the most cost-efficient and healthy eating practice. If you prefer to go out and eat in a restaurant, it will cost you a significant amount more, as the average prices of meals in Melbourne are AU$1,200 per month.

Health

Overseas student health coverage is essential for your student visa when coming to Australia. It covers all your doctors’ appointments, hospital costs, emergency ambulance, and prescriptions

Entertainment 

Entertainment is another expense in the cost of living in Melbourne. Starting from going to the gym, movie nights, beach trips, live events, concerts, and much more. A student can expect to pay AU$66 per month for different entertainment activities.

FAQs

Is it expensive to live in Melbourne?

According to Mercer’s 2021 Cost of Living Survey, Melbourne is the 59th most expensive city in the world, suggesting that Melbourne is one of the cheapest locations among other global cities.

How expensive is rent in Melbourne?

Students who plan on studying on-campus pay rent of around AU$1,460 and off-campus will cost around AU$596 per month. Since living in private student accommodation is a cheaper option most students prefer living off-campus.

Is Melbourne in Australia affordable?

Melbourne is the most inexpensive capital city in Australia for rental housing, followed by Adelaide. According to the most recent data, Melbourne has surpassed Adelaide as Australia’s most cheap city for renting accommodation.

Is Melbourne a safe city?

Melbourne is one of the top ten safest cities in the world. The city has scored highly for cybersecurity, health security, infrastructure security, and personal security, and it has had very few natural disasters in the past years.