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Cost of living in Melbourne: rent, income and house prices

The median Melbourne suburb rents for $410 a week, and rent takes about 20% of local household income. Medians over 215 suburbs from the ABS Census 2021, with sale prices where open data exists.

By Formada3D research · Updated 10 October 2026

Measure (Melbourne, median suburb)Value
Median weekly rent$410
Cheapest tenth of suburbs (rent at or below)$350/wk
Dearest tenth of suburbs (rent at or above)$481/wk
Median weekly household income (2021 census)$2,042
Rent as a share of household income20%
Household income for rent at 30% of income$1,367/wk
Median house price$1,295,500
Suburbs counted215

How much does it cost to rent in Melbourne?

The median Melbourne suburb has a median weekly rent of $410 (about $21,320 a year), from ABS Census 2021 (whole-suburb medians). The cheapest tenth of suburbs rent at or below $350/wk and the dearest tenth at or above $481/wk. Census 2021 is the latest suburb-level rent we can use under an open licence, so current advertised rents will be higher.

What income do you need to live in Melbourne?

To keep rent at or under 30% of household income (a common affordability rule of thumb) in the median Melbourne suburb, a household would need about $1,367/wk ($71,067/yr) before tax. The median household in those suburbs earned $2,042/wk in the 2021 census, so rent took about 20% of it.

What are the cheapest suburbs to rent in Melbourne?

Among suburbs with at least 2,000 residents and a real rental market (rent of $250/wk or more), the lowest median rents are Flemington ($300), Albion ($301), Heidelberg West ($306), Braybrook ($312), Campbellfield ($320). Full table below.

How much do houses cost in Melbourne?

The median house price in the median Melbourne suburb is $1,295,500 and the median unit price $674,000 (Victorian Property Sales Report, Oct–Dec 2025). That is about 12.2 times the median household income in those suburbs ($106,184/yr, 2021 census). Treat it as indicative: the price and income periods differ.

Where does rent take the smallest share of income in Melbourne?

Rent takes the smallest share of local household income in Plenty (12%), Yallambie (15%), Ivanhoe East (15%), Eaglemont (16%), Kingsville (16%). It takes the biggest bite in the dearest suburbs, led by Ravenhall, Middle Park, Brighton East.

Cheapest suburbs to rent in Melbourne

SuburbMedian rent / wkMedian household income / wkRent as % of income
Flemington$300$1,52520%
Albion$301$1,31023%
Heidelberg West$306$1,25724%
Braybrook$312$1,45122%
Campbellfield$320$1,11029%
Kings Park$321$1,22426%
Dallas$323$1,08830%
St Albans$325$1,20527%
Albanvale$325$1,27925%
Laverton$330$1,51222%

Most expensive suburbs to rent in Melbourne

SuburbMedian rent / wkMedian household income / wkRent as % of income
Ravenhall$1,500$966155%
Middle Park$602$2,83621%
Brighton East$600$2,54424%
Brighton$600$2,71022%
Albert Park$590$2,53323%
Balwyn North$554$2,34624%
Carlton North$552$2,40023%
Clifton Hill$550$2,75520%
Cremorne$550$2,95919%
Port Melbourne$540$2,37223%

Rent and income are ABS Census 2021 medians for the whole suburb (census night, August 2021), so today's market rents are higher. Suburbs under 2,000 residents and rents under $250/wk (near-zero rental markets) are left out of the lists. Sale prices: Victorian Property Sales Report. Guidance only. No city, agent or developer can pay for placement here. How we rank suburbs.

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