While Australia ranks as one of the world's more expensive countries overall (often in the top 10 globally), Sydney is consistently the most expensive major city for living costs, especially for housing, followed closely by Canberra, with Melbourne also high on the list, while places like Darwin and Adelaide offer more affordable living.
Sydney is the most expensive major city in Australia and the most expensive city overall. Townsville is 43% less expensive than Sydney, it is the least expensive city in the country. Insurance and financial services saw the largest increase in average prices from October 2023 to October 2024.
Currently, the top 10 most expensive countries are Switzerland, Bahamas, Iceland, Singapore, Barbados, Norway, Denmark, Hong Kong (China), United States, and Australia. The lowest cost of living countries are Pakistan, Libya, Egypt, India, and Bangladesh.
Hobart, Tasmania: Australia's most affordable major city
Hobart, the capital of Tasmania, consistently ranks as the cheapest area in Australia among major cities. Nestled between the River Derwent and Mount Wellington, Hobart offers breathtaking scenery, a vibrant arts scene, and a welcoming community.
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.
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.
While $55,000 a year is lower than the national average salary, it may be enough for a single person to support themselves. However, cost of living, financial obligations, personal spending habits, inflation, and other factors can impact how far the money goes.
Adelaide has been ranked Australia's happiest city in the global Happy City Index, scoring highly across 82 measures of liveability and wellbeing. Our beloved South Australian capital seems to find itself on lists like these rather frequently, and we don't think it's by coincidence.
Yes, AUD 5,000 (around $3,300 USD) can be enough for a single person's month in Australia, especially in regional areas or if you're budget-conscious and can find work quickly, but it will be tight in major cities like Sydney or Melbourne, where it covers basics but leaves little for luxury, according to Anzuk Education and Reddit users, as city living costs, especially rent, can quickly consume most of that, requiring careful planning for accommodation, food, and activities.
The cheapest places to rent in Australia vary, but generally, regional towns in South Australia, Queensland, and Western Australia offer the lowest rents, while Hobart (Tasmania) is often the most affordable capital city, followed by Adelaide, with suburbs like Melton (VIC) and Gagebrook (TAS) being particularly cheap within their capital cities. Expect to find the absolute lowest prices in very remote areas, while major cities have affordable pockets further from the CBD.
Sydney. Sydney boasts a staggering 126,900 resident millionaires, along with 184 centi-millionaires and 15 billionaires, residing in some of the world's most exclusive residential suburbs, such as Bellevue Hill, Darling Point, Mosman, Point Piper, and Vaucluse.
Hong Kong tops the global list with a staggering house price-to-income ratio of 14.4. This means the typical home costs more than 14 years worth of household income. Limited land supply and strong demand from global capital continue to keep prices out of reach for most residents.
Bread has seen the largest increase in relative price since 1973, with a basic loaf of white bread bought in a supermarket costing $4.40 in 2023 compared to $0.20 in 1973 (or $2.30 in today's money) for a similar sized loaf delivered to home.
Singapore is ranked 1st & most expensive while Kuala Lumpur is the least expensive city. Addendum : The finding is based on Mercer's 2020 cost of living surveys among employers & employees/expatriates worldwide. Hong Kong has the highest cost of living while Tunis is the least expensive worldwide.
$500,000 in Australian retirement can last anywhere from 10-15 years for high spending ($40k-$50k/yr) to 20+ years if supplemented by the Age Pension and lower spending ($30k/yr), depending heavily on your age, lifestyle, investment returns (3-7% p.a. for 10-20 years), and if you qualify for the Age Pension. Expect 10-13 years at $50k/year or 17-20 years at $30k/year if you're 60, but combining it with the Age Pension at 65+ significantly extends its life, potentially covering expenses until 90-95.
$100,000/year is above an average salary and if you're frugal enough, on $100,000/year, you should be able to live a good life and save some money too. Usually if you consider living in desirable locations of cities like Melbourne and Sydney, most of your income will be consumed in the house rents.
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.
TOP 7 Cheapest Places to Live in Australia
There's no single "most beautiful" town, but Richmond, Tasmania, often tops lists for its historic Georgian architecture and colonial bridge, while Noosa, Queensland, and Byron Bay, NSW, are famous for stunning beaches and vibrant vibes, and coastal towns like Esperance, WA, and Port Fairy, VIC, are celebrated for breathtaking natural beauty, making your choice depend on whether you prefer history, coast, or countryside charm**.
Copenhagen has an impressive résumé when it comes to high-quality living. This year, the Happy City Index ranked Copenhagen as the world's happiest city, based on factors like health, mobility, and environment. Plus, the World Happiness Report named Denmark the second-happiest country in 2025.
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).
Living alone offers unmatched freedom — but it also comes with a unique financial burden that can't be ignored: you carry 100% of the cost, 100% of the time. From rent to groceries to unexpected maintenance, there's no second income or built-in help when things get tight, go bad or break down.
You can get 25% off your bill if you're the only person 18 or over living in your home - use the form to apply, cancel if someone 18 or over is now living with you or respond to a review letter. You can get 25% off your council tax bill if you are the only person aged 18 or over living in your home.