What price should you pay for your Melbourne rental? It is an impossible question to answer because the answer itself has so many variables. There’s the number of bedrooms, the type of rental house and also the suburb/location to consider. You could start from just under $300 per week rent to as high as $3,000 all dependent on so many factors.
The better question is: how much you are willing to pay for rent?
Your budget is important when you are relocating and you are paying for your rent. You need to ask yourself how much of your salary will you be setting aside for this ongoing expense. It probably is the biggest expense so knowing how much you allocate for rent will help you narrow down the Melbourne suburbs in your search.
This rental map can help you find out the prices of rent in each Melbourne suburb.
The people at FlatMates.com.au have been diligent enough to create a rental map that gives you the average price of each room. This map uses the metropolitan Melbourne’s train network as a base and specifies the average rent is around that train station and suburb per room.
How to Get the Average Rent in Melbourne Suburbs
To use the map, multiply the number of rooms you want by the rent price affixed to each station and then you’ll get the average price for the flat or house. There is a variance of about 10% but it is fairly accurate. This rental map works better for 2 or more bedrooms because 1 bedroom apartments have a premium…whether it is a well-presented flat or not. And the premium will hover between 30 to 50%.
This rental map published last November 2015 guides you to realistically set expectations when you are relocating to Melbourne and are wondering how much you might end up spending to live here.