What Salary Do You Need to Live in Victoria?

4 min.

What Salary Do You Need to Live in Victoria?

Victoria, Australia, is known for its vibrant cities, stunning landscapes, and high quality of life. Whether you’re drawn to the cultural hub of Melbourne or the serene beauty of regional areas like Ballarat and Geelong, the state offers a variety of lifestyles. But how much do you need to earn to live comfortably in Victoria?

This article explores the salary required to live in Victoria, considering factors such as housing, transportation, groceries, healthcare, and lifestyle expenses. We’ll break it down for singles, couples, and families, offering insights into how costs differ between Melbourne and regional areas.

Key Factors That Determine Living Costs in Victoria

The cost of living in Victoria depends on several factors:

Location: Living in Melbourne is significantly more expensive than in regional areas.
Housing: Rent or mortgage payments often make up the largest expense.
Lifestyle: Dining out, entertainment, and hobbies can vary widely.
Family Size: Families have higher costs due to childcare, education, and larger housing needs.

Average Costs of Living in Victoria

1. Housing

Housing is typically the biggest expense for residents in Victoria.

Melbourne:

Average Rent: AUD $450–$750 per week for a two-bedroom apartment in Melbourne.
Median House Price: Around AUD $900,000 for a house.
Utilities: Electricity, water, and gas bills average AUD $200–$300 per month.

Regional Victoria:

Average Rent: AUD $300–$500 per week for a two-bedroom house.
Median House Price: AUD $550,000–$700,000 in towns like Geelong or Bendigo.
Utilities: Slightly lower than in Melbourne, averaging AUD $150–$250 per month.

2. Groceries

Groceries in Victoria are relatively consistent across the state, but shopping locally can save money.

Single Person: AUD $100–$150 per week.
Family of Four: AUD $200–$300 per week.

Tip: Farmers’ markets in regional Victoria often offer fresh produce at lower prices.

3. Transportation

Your transportation costs depend on whether you rely on public transport or own a car.

Public Transport:

Melbourne’s Myki system costs approximately AUD $160–$200 per month for unlimited travel in Zone 1 and 2.
Regional areas offer cheaper bus services, but options may be limited.

Car Ownership:

Fuel costs: AUD $1.80–$2 per liter.
Car insurance, registration, and maintenance: AUD $150–$250 per month.

4. Healthcare

Healthcare costs in Victoria are manageable, thanks to the Medicare system, which covers most essential services.

Private Health Insurance: AUD $100–$200 per month for singles, AUD $250–$400 for families.
Out-of-Pocket Expenses: Some specialist visits or prescriptions may cost extra.

5. Education (If Applicable)

Education costs can vary significantly:

Public Schools: Free or minimal fees.
Private Schools: AUD $10,000–$30,000 per year per child.
Higher Education: Tuition fees depend on the course and institution.

6. Entertainment and Lifestyle

Melbourne offers countless entertainment options, from theaters to sports, but these come at a cost.

Dining Out: AUD $20–$40 per person at casual restaurants.
Fitness Memberships: AUD $50–$100 per month.
Events: Tickets for concerts or sports events average AUD $50–$150.

How Much Salary Do You Need?

Single Person

A single person living in Melbourne needs an annual salary of approximately AUD $70,000–$80,000 to cover living expenses comfortably, while in regional Victoria, AUD $60,000–$70,000 may suffice.

Monthly Budget Breakdown:

Rent: AUD $2,000–$3,000 (Melbourne); AUD $1,300–$2,000 (Regional).
Groceries: AUD $500–$600.
Transport: AUD $200–$300.
Utilities and Internet: AUD $250–$400.
Miscellaneous: AUD $500–$800.

Couples

For a couple, the combined income required increases to AUD $100,000–$120,000 annually in Melbourne and AUD $80,000–$100,000 in regional areas.

Shared Expenses:

Housing and utilities are split, reducing individual costs.
Dining and entertainment expenses are similar to a single person’s budget.

Family of Four

Families with children typically need AUD $120,000–$150,000 annually in Melbourne and AUD $100,000–$120,000 in regional Victoria to live comfortably.

Additional Costs:

Childcare: AUD $100–$150 per day per child.
Education: Costs vary depending on the type of school.
Groceries: AUD $200–$300 per week.

Living in Melbourne vs. Regional Victoria

Melbourne: Higher Costs, More Opportunities

Living in Melbourne comes with higher housing and transportation costs, but it offers:

Access to better job opportunities.
A vibrant cultural and entertainment scene.
World-class healthcare and education.

Regional Victoria: Affordable and Relaxed

Regional areas like Geelong, Ballarat, and Bendigo provide:

Lower housing and lifestyle costs.
A slower pace of life with natural beauty.
Growing job markets in specific sectors like healthcare and education.

Tips for Managing Living Costs in Victoria

Choose the Right Suburb: Suburbs further from Melbourne’s CBD, such as Werribee or Cranbourne, offer more affordable housing.
Use Public Transport: Avoid car ownership if public transport is accessible in your area.
Shop Smart: Buy groceries in bulk or shop at local markets for fresh produce.
Take Advantage of Government Grants: Programs like the First Home Owner Grant (FHOG) can help reduce initial housing costs.
Plan for Unexpected Costs: Always set aside funds for emergencies.

Conclusion: What Salary Do You Need to Live in Victoria?

To live comfortably in Victoria, a single person should aim for an annual salary of AUD $70,000–$80,000, while families may need AUD $120,000–$150,000, depending on their size and location. Melbourne’s higher costs are balanced by its cultural and economic opportunities, while regional areas provide a more affordable and relaxed lifestyle.

Understanding your expenses and planning accordingly will help you make the most of life in this beautiful state, whether you’re drawn to its bustling urban centers or serene countryside.

Call to Action

What’s your experience living in Victoria? Share your tips and insights in the comments below! Don’t forget to subscribe to our blog for more guides on living in Australia. If you’re planning a move, bookmark this article to help budget for your new life in Victoria.

By Lyanne Hero