Ever wondered if your salary is enough to live comfortably in Australia? Best Financial Planners has conducted a fun and eye-opening study to reveal the minimum income needed to live comfortably across Australia’s major cities.
Sydney is undeniably the priciest city in Australia when it comes to comfortable living. With a hefty required hourly wage of $31.73, that equates to an annual salary of $59,976. Whether it’s the high rent in central areas or the cost of entertainment, Sydney’s lifestyle demands a higher income to keep up.
In second place, Canberra, with its well-paying government jobs, requires an hourly wage of $26.98, or $51,000 a year, to live comfortably. It’s followed closely by Brisbane, where the annual wage requirement is $50,088. Brisbane demands a bit more than its southern neighbours, but still offers a more affordable lifestyle than Sydney and Canberra.
Tied for fourth place, Melbourne and Perth both require an hourly wage of $25.46, leading to an annual salary of $48,120.
Top 5 Most Expensive Cities
| Rank | City | Hourly Wage Needed to Live Comfortably | Yearly Wage Needed to Live Comfortably |
|---|---|---|---|
| 1 | Sydney | $31.73 | $59,976 |
| 2 | Canberra | $26.98 | $51,000 |
| 3 | Brisbane | $26.50 | $50,088 |
| 4 | Melbourne | $25.46 | $48,120 |
| 4 | Perth | $25.46 | $48,120 |
Middle of the List: Median Cost Cities
| Rank | City | Hourly Wage Needed to Live Comfortably | Yearly Wage Needed to Live Comfortably |
|---|---|---|---|
| 13 | Hobart | $22.18 | $41,928 |
| 14 | Cairns | $21.39 | $40,436 |
| 15 | Warrnambool | $21.38 | $40,416 |
| 16 | Townsville | $20.62 | $38,976 |
| 17 | Launceston | $20.20 | $38,184 |
For those looking to live comfortably on a budget, cities like Bendigo, Bundaberg, and Ballarat offer affordable living options. Bendigo is the most affordable city, with a required annual salary of just $30,276, a far cry from the major cities at the top of the list. Bundaberg follows closely with $33,176, while Ballarat requires $34,296 a year.
The 5 Most Affordable Cities
| Rank | City | Hourly Wage Needed to Live Comfortably | Yearly Wage Needed to Live Comfortably |
|---|---|---|---|
| 30 | Bendigo | $16.02 | $30,276 |
| 29 | Bundaberg | $17.55 | $33,176 |
| 28 | Ballarat | $18.15 | $34,296 |
| 27 | Dubbo | $18.46 | $34,896 |
| 26 | Mackay | $18.66 | $35,276 |
Methodology
The study analysed public data (StudyAustralia and Numbeo) to determine the minimum income needed for a comfortable lifestyle for single individuals across Australia. The study considered housing, food, transportation, taxes, healthcare, utilities, and other essential expenses. The states were then ranked from most to least expensive places for a single person to live comfortably.
About Best Financial Planners
Best Financial Planners is a trusted platform that connects individuals and couples with top-rated financial advisors across Australia. Their mission is to make financial planning accessible, understandable, and tailored to life’s most important moments.
Full Ranking List of Top 30 Cities
| Rank | City | Hourly Wage Needed to Live Comfortably | Yearly Wage Needed to Live Comfortably |
|---|---|---|---|
| 1 | Sydney | $31.73 | $59,976 |
| 2 | Canberra | $26.98 | $51,000 |
| 3 | Brisbane | $26.50 | $50,088 |
| 4 | Melbourne | $25.46 | $48,120 |
| 4 | Perth | $25.46 | $48,120 |
| 6 | Darwin | $25.31 | $47,832 |
| 7 | Adelaide | $24.77 | $46,824 |
| 8 | Geelong | $24.30 | $45,922 |
| 9 | Newcastle | $24.05 | $45,456 |
| 10 | Caloundra | $23.92 | $45,216 |
| 11 | Gold Coast | $22.74 | $42,972 |
| 12 | Coffs Harbour | $22.46 | $42,456 |
| 13 | Hobart | $22.18 | $41,928 |
| 14 | Cairns | $21.39 | $40,436 |
| 15 | Warrnambool | $21.38 | $40,416 |
| 16 | Townsville | $20.62 | $38,976 |
| 17 | Launceston | $20.20 | $38,184 |
| 18 | Hervey Bay | $19.99 | $37,776 |
| 19 | Wollongong | $19.81 | $37,436 |
| 20 | Queanbeyan | $19.73 | $37,296 |
| 21 | Shepparton | $19.51 | $36,876 |
| 22 | Port Macquarie | $19.48 | $36,816 |
| 23 | Toowoomba | $19.35 | $36,576 |
| 24 | Ipswich | $19.16 | $36,216 |
| 25 | Bunbury | $18.72 | $35,376 |
| 26 | Mackay | $18.66 | $35,276 |
| 27 | Dubbo | $18.46 | $34,896 |
| 28 | Ballarat | $18.15 | $34,296 |
| 29 | Bundaberg | $17.55 | $33,176 |
| 30 | Bendigo | $16.02 | $30,276 |
