You need $78,000/yr
to live in Elwood
Based on government bond data
1BR median rent
$450/wk
Annual change
—
Rental stress
No
Location
Melbourne, VIC
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Rent trend
Quarterly median rent
Can you afford it?
Enter your gross salary to check
$85,000
Weekly take-home
$1,254/wk
Weekly rent
$595/wk
Rent share
47%
You'd have $659/wk left after rent
Weekly budget breakdown
$874/week total
Rent
$450/wk
Groceries
$180/wk
Transport
$55/wk
Utilities
$55/wk
Insurance
$45/wk
Other
$89/wk
Rent details
1 BR
$450/wk
2 BR
$608/wk
3 BR
$875/wk
4+ BR
$1,500/wk
Annual change
—
Quarterly change
—
Suburb snapshot
ABS Census 2021
Median household income
$2,096/wk
Median age
38
Avg household size
1.9
Rent-to-income
28%
Nearby suburbs
St Kilda
VIC
$560/wk
$80,600/yr
—
Elsternwick
VIC
$600/wk
$76,267/yr
—
East St Kilda
VIC
$550/wk
$73,667/yr
—
Brighton
VIC
$825/wk
$86,320/yr
—
Windsor
VIC
$590/wk
$79,734/yr
—
Caulfield
VIC
$650/wk
$86,667/yr
—
About renting in Elwood
Elwood is located in Melbourne, VIC. The median weekly rent is $595, meaning a single person needs to earn at least $78,000 per year to keep rent below 30% of income.
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, and VIC DFFH. This covers actual bonds lodged, making it one of the most reliable rent data sources in Australia.