Australia generally has a high standard of living compared to most countries, consistently ranking as a wealthy and developed nation with a high average income and strong public services. However, in recent years, it has experienced a significant decline in real living standards due to a severe cost-of-living crisis, placing it worse off than many other developed nations in that specific metric.
When weighing life in Australia vs America, the overall cost of living is often top of mind. Both countries offer high standards of living, but the price tags can vary depending on where you settle. Australia is known for its relatively high cost of living, especially in major cities like Sydney and Melbourne.
Yes, $70k is a fair salary in Australia, often near the median income, making it a decent living for a single person, especially outside major cities, but it can be tight in expensive areas or for those with high living costs like mortgages, with full-time averages now closer to $90k-$100k.
Australia (Ranked 16th) :: Legatum Prosperity Index 2023.
The top 10 issues Australians say are the most concerning
Cons of Living in Australia
Australia has a stable political system based on democratic principles, with a strong rule of law. We have a well-established legal framework and robust democratic institutions that ensure political stability and the protection of individual rights and freedoms.
Yes, $100k (AUD) is generally a very good salary in Australia, placing you above the median income and offering financial stability, though it's becoming tighter in expensive cities like Sydney due to high living costs and housing prices, making lifestyle comfort dependent on location and dependents. While it's a strong income, it's closer to the median ($90k) than the high-earning average ($108k), meaning it provides comfort but not necessarily luxury, especially with rising costs.
Australia has a highly developed mixed economy. As of 2025, Australia was the 15th-largest national economy by nominal GDP (gross domestic product), the 22nd-largest by PPP-adjusted GDP, and was the 21st-largest goods exporter and 24th-largest goods importer.
The average Australian full-time worker is now earning more than $2000 a week for the first time in history. New figures from the Australian Bureau of Statistics (ABS) show the average ordinary full-time weekly earnings for adults hit $2011.40 before tax in May.
Australia has high demand for workers in Healthcare (nurses, aged/disability carers, allied health), Tech (software engineers, cybersecurity, data analysts), Construction & Trades (managers, electricians, fitters, civil engineers), and Education (teachers, early childhood educators) due to an aging population, infrastructure projects, and digital transformation, with roles like Chefs, Project Managers, and Automotive Technicians also sought after across various industries.
The middle class falls in-between. In 2022 the median income in Australia was $65,000 a year according to the Australian Bureau of Statistics. Anyone making less than this amount would be considered working class. Anyone making more than $137,000 falls in the top 10% which is considered upper class.
Adelaide is often regarded as the cheapest place to live in Australia, with lower living costs compared to major cities. Regional areas are becoming more popular due to remote work opportunities, making them affordable choices.
The proportion of all people in poverty rose by 1.8 percentage points from 12.4% (one in eight) in 2020-21 to 14.2% (one in seven) in 2022-23. The depth of poverty (average gap between incomes of people in poverty and the poverty line) increased from $372 per week to $390 over the same two-year period.
South Sudan is widely considered the poorest country in the world in 2025-2026, consistently ranking first due to extremely low GDP per capita and a high percentage (over 80%) of its population living in extreme poverty, driven by prolonged civil conflict, displacement, and disruption of its agricultural economy. Other nations frequently cited as among the poorest include Burundi, the Central African Republic, and Yemen, also suffering from conflict and instability.
In terms of mean wealth, the average Australian adult had US$550,110 in 2021 after seeing an annual increase of US$66,350 in their net worth. This put Australia at number four in the world, after Switzerland, the United States and Hong Kong.
Yes, $600,000 can be enough to retire at 60 in Australia for many, especially if you're a single person aiming for a comfortable lifestyle, but it depends heavily on your spending, assets, and eligibility for the Age Pension. While some sources suggest $600k covers a single's comfortable retirement (around $52k-$53k/year), it's near the lower end, and couples might need closer to $700k for a similar standard, making financial planning crucial for a stress-free retirement.
Jobs paying $150k+ in Australia span various sectors, including Tech (Senior Business Analysts, IT roles), Healthcare (Podiatrists, Clinical Managers), Construction & Trades (Construction Managers, Electricians, Site Supervisors, Drillers), Finance (Finance Managers, Financial Planners, Accountants), Sales, and Leadership (HR Directors, Operations Managers, School Principals, Government Directors). High-demand areas often involve senior or specialized roles in Engineering, Mining, Digital Marketing, and Management, with opportunities both with and without degrees.
How much do you need to live comfortably in Australia? Living comfortably in Australia varies greatly depending on factors such as location, lifestyle and personal preferences. As a general guide, a single person living outside of a major city would need an annual income of $70 - $80k per annum or $5,800+ per month.
A single adult earning less than $80,000 per year cannot afford to live comfortably in a single U.S. state, a new report found. The report, released by SmartAsset on June 4, also revealed that families of four must earn more than $200,000 to live comfortably in nearly every state.
Iceland is consistently ranked as the #1 safest country in the world by the Global Peace Index (GPI), a position it has held for over a decade due to extremely low crime, no standing army, high social cohesion, and minimal conflict, though some other reports might place Switzerland or the Netherlands first based on different survey criteria.
Low crime rates for your peace of mind
Canberra is officially Australia's #1 safest city, with a crime index rating of 26 out of 100.
However, the "First World" is generally thought of as the capitalist, industrial, wealthy, and developed countries. This definition includes the countries of North America and Western Europe, Japan, South Korea, Australia, and New Zealand.