You'll need $91,000/yr to live in North Melbourne.
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 North Melbourne
Closest to the $91,000/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 North Melbourne
North Melbourne's 1-bedroom median rent is $525 a week, a little under the middle of the 168 Melbourne suburbs NestLedger tracks, with 79 tracked suburbs coming in cheaper. It is not a bargain pocket, but renters get in below the local median.
Rents have been broadly steady over the past year (+1.7%). Bond-lodgement medians go from $550 in 2023-Q4 to $600 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 $91,000 a year to take on North Melbourne's 1-bedroom median rent without overextending (based on the $525/wk 1BR median, single household). On the local median household income, North Melbourne stays under the 30% line: the typical household here is not in rental stress.
If North Melbourne stretches the budget, the nearest cheaper options NestLedger tracks are Parkville ($500/wk), Kensington ($470/wk), Flemington ($470/wk), close enough to keep the same commute patterns while cutting the weekly rent.
Is North Melbourne expensive to rent in?
North Melbourne's 1-bedroom median rent is $525/wk, below the middle of the 168 Melbourne suburbs NestLedger tracks (79 tracked suburbs are cheaper).
What salary do I need to rent in North Melbourne?
About $91,000 a year for a single renter under the 30% rule: annual income = (weekly rent × 52) ÷ 0.3, using based on the $525/wk 1BR median, single household.
Is rent in North Melbourne going up?
Over the past year the 1-bedroom median rent moved +1.7%, from $550 in 2023-Q4 to $600 in 2025-Q3.
What are cheaper suburbs near North Melbourne?
Parkville at $500/wk, Kensington at $470/wk, Flemington at $470/wk, the closest tracked suburbs with a lower single-basis rent.
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.