You'll need $78,000/yr to live in Albert Park.
The 30%-rule benchmark for a single person, based on quarterly government bond data.
Location
Melbourne, VIC
Rent trend
Quarterly median rent
Can you afford it on your salary?
Pick your bracket to see weekly leftover, budget breakdown and cheaper alternatives in Albert Park
Closest to the $78,000/yr the 30% rule needs is highlighted.
Rent details
Suburb affordability ledger
ABS Census 2021 (income WPI-indexed to 2026) · rent vs household income
Household income is the 2021 Census median indexed forward to 2026 by ABS wage growth; rent-to-income and stress compare current rent to that estimate.
Nearby suburbs
About renting in Albert Park
Albert Park's 1-bedroom median rent is $450 a week, placing it in the most expensive quarter of the 168 Melbourne suburbs NestLedger tracks. This is premium territory for the area, and budget-focused renters usually look at least one suburb further out.
Rents have been broadly steady over the past year (+0.7%). Bond-lodgement medians go from $600 in 2023-Q4 to $698 in 2025-Q3. Stability makes budgeting easier, though it says nothing about how the suburb compares on price.
Using the 30% affordability benchmark, a single renter needs about $78,000 a year to take on Albert Park's 1-bedroom median rent without overextending (based on the $450/wk 1BR median, single household). On the local median household income, Albert Park stays under the 30% line: the typical household here is not in rental stress.
Within its immediate area, Albert Park is already one of the cheaper picks: nearby Docklands asks $600/wk. Renters trading down from here generally need to change area rather than suburb.
Is Albert Park expensive to rent in?
Albert Park's 1-bedroom median rent is $450/wk, above the middle of the 168 Melbourne suburbs NestLedger tracks (151 tracked suburbs are cheaper).
What salary do I need to rent in Albert Park?
About $78,000 a year for a single renter under the 30% rule: annual income = (weekly rent × 52) ÷ 0.3, using based on the $450/wk 1BR median, single household.
Is rent in Albert Park going up?
Over the past year the 1-bedroom median rent moved +0.7%, from $600 in 2023-Q4 to $698 in 2025-Q3.
How is the salary needed calculated?
The salary needed uses the 30% rule: annual income required = (weekly rent x 52) / 0.3. This is a widely used affordability benchmark: spending more than 30% of gross income on rent is considered "rental stress".
Where does the rent data come from?
Rent data comes from government bond lodgement records: NSW DCJ, QLD RTA, VIC DFFH, SA Consumer and Business Services via SA Housing Authority, and Tasmania Department of Justice rental bond data. This covers actual bonds lodged, making it one of the most reliable rent data sources in Australia.