A living wage in Australia isn't a single official figure but the amount needed for a decent standard of living, which often exceeds the current minimum wage ($24.95/hr or ~$948/wk as of July 2025), especially for families, with researchers like Anglicare finding minimum wage earners have little left after rent, food, and transport. Estimates suggest a single adult needs $70-80k/year for comfort outside cities, while families need significantly more, highlighting a gap that welfare aims to bridge but advocacy groups argue the minimum wage itself should cover.
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.
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.
The ASFA Retirement Standard suggests a single person can enjoy a 'comfortable lifestyle' on around $51,000 a year while a couple would need around $72,000 for the same standard of living.
On average, Australians consider a 'good' base salary to be around $152,775 per year, according to a survey of just over 1000 respondents by comparison website Finder. Younger Australians have significantly higher salary expectations than other age groups.
A low income in Australia varies, but generally involves earning below the median (around $1,425/week in Aug 2025) or below specific government thresholds, like the $948/week ($24,95/hr) National Minimum Wage (as of July 2025) for full-time work, with lower thresholds applying for benefits like the Low Income Health Care Card (around $800/week for singles). For tax purposes, incomes under $37,500-$45,000 might qualify for offsets, while affordable housing eligibility depends heavily on household size, with singles needing under $52,100 annually for low-cost options.
On average, respondents said they would have to earn around $74,000 to feel financially satisfied — although nearly 1 in 5 stated they'd require at least six figures to enjoy their lifestyle comfortably.
In Australia, the middle-class income range is generally considered to be between 75% to 200% of the median income, which translates roughly to $48,000 to $130,000 annually for individuals, though figures vary by definition (personal vs. household) and year, with some placing the core middle at $90k-$140k household income, supporting a lifestyle of home ownership and family activities, but facing rising costs.
Retiring at 50 with $500k requires careful financial planning. With 35 years to cover, a $29,400 annual withdrawal limit, and Social Security not available until you reach age 62, you'll need to focus on investments, minimizing expenses, and finding additional sources of income to stay on track.
The 50/30/20 rule in Australia is a simple budgeting guideline that suggests allocating 50% of your after-tax income to essential living costs (needs), 30% to lifestyle expenses (wants), and 20% to savings and debt repayment, though many Australians find they need to adjust it due to high living costs, sometimes shifting towards 60/20/20 or similar ratios.
While living costs in Melbourne are generally lower than those in Sydney, they remain among the highest in Australia. Data from the Victorian state government indicate that average weekly rent ranges from AU$470 to AU$570, with costs varying significantly based on the type of accommodation.
Currently, 34 states, territories and districts have minimum wages above the federal minimum wage of $7.25 per hour. Five states have not adopted a state minimum wage: Alabama, Louisiana, Mississippi, South Carolina and Tennessee. Three states, Georgia, Oklahoma and Wyoming, have a minimum wage below $7.25 per hour.
Yes, $50 an hour ($98,800/year) is a very good wage in Australia, significantly above the average full-time salary and national median earnings, offering a solid income for comfortable living, even in expensive cities, and is common in skilled trades, healthcare, and tech, though high living costs in major centers require careful budgeting.
The median annual wage for individuals was just below $62,000 at the end of 2024, according to the Bureau of Labor Statistics. But it takes a salary of at least $80,829 for a single adult to live comfortably in West Virginia, the most affordable state, according to a recent SmartAsset study.
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.
Melbourne, Australia, 11 June 2025 – Despite employment reaching a record high in 2024, half of Australian workers (50%) are living paycheck to paycheck, according to ADP Research's People at Work 2025 report.
When asked when they plan to retire, most people say between 65 and 67. But according to a Gallup survey the average age that people actually retire is 61.
The top tax bracket kicks in at $180,000 a year and is often cited as shorthand for high income. Just 4.3 per cent of taxpayers had a taxable income that high in 2020-21.
Low income in Australia is generally defined as earning less than 50% of the median household income, which translates to roughly under $584/week for a single person or around $1,226/week for a couple with two children, though figures vary and government support has specific thresholds, like the $37,000 cap for the superannuation tax offset. Official poverty lines are set at half the median income, but factors like location (e.g., Sydney) and living costs significantly impact what's considered "low" in practice.
Earning more than $110,000 in household income doesn't make you rich — but in most states, it means you're upper-middle class. Nationwide, upper-middle class households earn a median income between $117,000 and $150,000, according to a new GOBankingRates analysis of 2023 Census Bureau data.
You can live on $1,000 a month by making a bare-bones budget, prioritizing your necessary expenses, and cutting costs wherever you can. You should also want to build an emergency fund, so you are prepared for unexpected bills.
Kahneman's original study that put the plateau around $75,000 more specifically saw happiness flatten in the $60,000 to $90,000 salary range, making the $75,000 number the midpoint, which is why it gets cited as the official plateau.
The 70% money rule usually refers to the 70/20/10 budgeting rule, a simple guideline that splits your after-tax income into three categories: 70% for needs/living expenses, 20% for savings/investments, and 10% for debt repayment or giving. It helps you balance essential spending, building wealth, and managing debt by allocating funds for day-to-day costs (housing, food, bills), future goals (retirement, emergency fund), and debt reduction (loans, credit cards).