You need $98,800/yr
to live in Southbank
Based on government bond data
1BR median rent
$570/wk
Annual change
—
Rental stress
Yes
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
$680/wk
Rent share
54%
You'd have $574/wk left after rent
Weekly budget breakdown
$994/week total
Rent
$570/wk
Groceries
$180/wk
Transport
$55/wk
Utilities
$55/wk
Insurance
$45/wk
Other
$89/wk
Rent details
1 BR
$570/wk
2 BR
$720/wk
3 BR
$1,010/wk
Annual change
—
Quarterly change
—
Suburb snapshot
ABS Census 2021
Median household income
$1,926/wk
Median age
31
Avg household size
1.8
Rent-to-income
35%
Nearby suburbs
South Melbourne
VIC
$650/wk
$94,987/yr
—
East Melbourne
VIC
$650/wk
$90,134/yr
—
Docklands
VIC
$700/wk
$104,000/yr
—
Albert Park
VIC
$698/wk
$78,000/yr
—
South Yarra
VIC
$620/wk
$86,667/yr
—
Carlton
VIC
$620/wk
$86,667/yr
—
About renting in Southbank
Southbank is located in Melbourne, VIC. The median weekly rent is $680, meaning a single person needs to earn at least $98,800 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.