Sydney is one of the top hottest destinations for expats and international students alike. People from abroad dream of settling or moving to this metropolitan city of Australia. Before moving to Australia when you start your research on the cost of living in Australia Sydney, you will be stumped. This is because Sydney is not only the most expensive city in Australia but also one of the top 2% of most expensive cities in the world. At one point, the cost of living in Sydney might have been even more than that of New York and London.
However, the purchasing power of the people in Sydney grows equivalently. So, if you are going to work in Sydney, the money problem could be evaded. Moreover, the average cost of living in Sydney Australia will vary depending on one the part of the city you live in. In the central parts of the city, the average cost of living in Sydney Australia will be higher than if you choose to live in one of the suburban areas of the city.
The average cost of living in Sydney Australia varies anywhere from $1500 to any upper limit, depending on how luxurious a lifestyle you can afford. The living costs mentioned ahead would mostly be based on a weekly or monthly budget. So, depending on how long you are going to live in the city, especially if you are moving for studies, you need to extend the budget for a specific number of weeks.
The cost of living in Sydney varies based on whether you are a single person living alone, with housemates, a family of two, a family of four, or more. With a good financial management plan, you can work on a budget that meets your needs of the monthly cost of living in Sydney. Keep reading to find out more about how much you need to live well and meet the cost of living in Sydney.
Average Housing rent
The biggest chunk of your income will be going towards the rent of your accommodation in the city, and it will form your main cost of living in Australia Sydney. The amount of rent you pay will depend on where you live and in what kind of housing setup you live in. There are a number of accommodation options you could go for. The obvious one is your own home which could be one bedroom, two, or three-bedroom apartment. It could be a larger house all to yourself as well.
For those with income on the lower end, there are shared housing situations or small apartments with a combined room and kitchen setup. There is also the option of living with local hosting families. This option is especially famous with international students. Another popular choice for students is the dorm room of the university.
Regardless of what your living situation is, expect to spend at least $300 per week on the cost of the rent. The average cost of living in Sydney Australia is estimated at $520 per week on rent alone. Rent usually includes water bills but often does not have utilities included in it.
The cost of living in Sydney in the inner city starts from $352 per week for an average shared housing system where you might be living with other professionals or students. You can get a serviced apartment for about $370 per week or a one-bedroom apartment for $815 per week where you can live alone. If you want to cut the cost of living in Sydney even more, consider the option of living with a local family where you usually receive one meal a day as well. This comes at the cost of $320 per week.
The cost of living in Sydney comes down steeply when you move towards the suburbs. The average cost there for a one-bedroom apartment starts at $540 per week. You may be able to find a shared housing system in the suburbs for as low as $317 per week.
In total, you can expect to pay at least $1800 per month for a one-bedroom apartment and about $2500 per month for a two-bedroom apartment. This doesn’t include utilities. For gas, electricity, and heating, you may have to pay an additional $150 USD a month. For a bigger family of four or more, if you need a three-bedroom home, you can expect to pay at least $3000 to $5000 per month in the inner city and bout $1500 to $2000 for the same home in the suburbs.
Average Transportation Cost
The cost of living in Sydney also includes transportation costs. While transport can be expensive in Sydney, especially if you keep a private car, there is a well-built system of public transport like buses, trains, light rail, and ferries which can be used to move around anywhere in the city. To use any of these facilities to get around the city, you need to get an Opal Card first. Domestic students are eligible for a discount, but international students are not eligible for any discount on the card as of now. You can get the Opal card from any registered retailer in the city.
The amount of money you pay for travel on public transport will depend on where you are going. The further you travel, the more money you will have to pay. The average amount you can expect to pay for a trip is $26. For a monthly estimate, the cost of travel on public transport comes up to $210 per month, which is still higher than in other major cities of Australia.
For an average taxi trip, you might have to pay $55. On Sundays, the cost of travel is $2.70 for the entire day, no matter how much you travel. You can buy a monthly travel ticket for about $175. The cost of a train ticket to and from the airport is around $12.50, but around the city, it ranges from $2.5 to $3.5. You can expect an amount of $1200 to $2000 for the annual cost of transport.
Compare that to owning a private transport, which will cost you at least $29000 in fuel and maintenance.
Average Food and Entertainment Expenditure
The cost of living in Sydney covers food as well. The monthly cost of living in Sydney for food will vary depending on where you eat. If you cook meals at home, expect to spend around $2 for breakfast, $5 for lunch, and $11 for dinner. If you be careful with the groceries, you can save money on eating in than eating out. For students, eating on campus can be a bit more expensive as each meal can cost around $10. Sydney has incredible restaurants, from high-end diners to small eateries and cafes; you can find a range of cuisines and places to eat in the city, which can account for a large part of the cost of living in Australia Sydney. Eating out can cost you an average of $15 for breakfast, $16 for lunch, and $25 for dinner. High-end restaurants can lie on the higher end of the money scale, with meals starting from at least $50.
Grocery can cost anywhere between $80 to $280 for one person depending on where you shop. Go to fresh food markets, discount supermarkets like Aldi, and buy in bulk to save money.
Average Medical-Healthcare Cost
Health Insurance will take up another portion of the cost of living in Sydney. Overseas student health cover is essential for all international students to get. The cost of this insurance will depend on the insurance provider and on any additional prescription medicines you need to take. Different insurance coverage is available for other foreign individuals as well who are not in the city to study.
For overseas students, the basic package of health insurance starts at $400. You can expect to pay an average of $2000 per year in health insurance costs for one person, which amounts to $160 per month. For couples and small families, the cost of health insurance can total at $350 approximately.
Other than that, you may want to get a gym membership for fitness purposes. This may cost you an additional $82 per month, or some gyms may cost you only $18 per week. The price of typical cold medicine for a week is $9 AUS, while one box of antibiotics is $13 AUS.
Average Phone Bills
Phone bills are a necessary cost of living in Australia Sydney in this day and age. For the internet, you can get 60Mbps or more, unlimited data, cable/ADSL, and you will have to pay an average of $71.49 per month. For calls and other uses, a prepaid phone is the best option in Sydney. Telstra 4G Pre-Paid Max is a great option for a prepaid phone package in the city.
On average, you can expect to spend around $15 per week or between $360 to $780 per month on phone bills depending on how much you use it.
Average Utility Cost
Another big chunk of the cost of living in Sydney goes to utility bills which are not included in the rent. The average cost of using electricity in the city comes up to $182.48 per month. Sometimes water may or may not be included in the rent cost. Usually, the utilities are divided between the tenants, but if you are living alone, this can be expensive.
For two people, expect to pay about $650 AUS per month in utilities. In a studio apartment, the monthly cost of living in Sydney for one person can come down to $316 AUS. In quarterly amounts, you can expect to pay about $170 for gas, $300 for water, and $500 for electricity. If the internet is included separately as well, you may have to pay an additional $120 per quarter.
Average Childcare Cost
Childcare can form a big portion of the cost of living in Sydney for people who have kids as you will have you arrange for someone to take care of them while you work or study, especially if both spouses work. For an average day of 8 am to 6 pm, you can expect to pay between $70 to $190 per day.
The tuition fee will vary from public to private institutes. Public schools are cheaper than private schools. Uniforms and other essentials could cost you around $500.