You'll need $78,000/yr to live in Surrey Hills.
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 Surrey Hills
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 Surrey Hills
Surrey Hills'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 climbed a moderate 8.0% over the past year. Bond-lodgement medians go from $600 in 2023-Q4 to $678 in 2025-Q3. That is a steady drift upward rather than a spike, but it still compounds against a flat salary.
Using the 30% affordability benchmark, a single renter needs about $78,000 a year to take on Surrey Hills's 1-bedroom median rent without overextending (based on the $450/wk 1BR median, single household). On the local median household income, Surrey Hills stays under the 30% line: the typical household here is not in rental stress.
If Surrey Hills stretches the budget, the nearest cheaper options NestLedger tracks are Camberwell ($440/wk), close enough to keep the same commute patterns while cutting the weekly rent.
Is Surrey Hills expensive to rent in?
Surrey Hills's 1-bedroom median rent is $450/wk, above the middle of the 168 Melbourne suburbs NestLedger tracks (139 tracked suburbs are cheaper).
What salary do I need to rent in Surrey Hills?
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 Surrey Hills going up?
Over the past year the 1-bedroom median rent moved +8.0%, from $600 in 2023-Q4 to $678 in 2025-Q3.
What are cheaper suburbs near Surrey Hills?
Camberwell at $440/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.