More than 5 million people call the Sydney metropolitan area home, but having that luxury comes at a price.
Currently ranked as the most expensive city in Australia, and one of the most expensive cities in the world, Sydney is a popular living destination among every generation. From the outer suburbs like Blacktown, and the inner city’s Surry Hills to Bondi, Manly, and Coogee beaches, Sydneysiders’ cost of living depends heavily on the suburb they choose to live in. While there isn’t a straight answer to “how expensive is Sydney to live in?”, we’ll give a breakdown of the average cost of various day-to-day expenses you might incur when living in Sydney.
Income
Before diving into the cost of living, we should probably give some thought to the average income in Sydney. According to budget direct, the average monthly income after tax here is around $6200, which is $500 more than the national average. These salary experts calculate the average annual salary in Sydney to be about $93,000, as opposed to the $87,500 national average. This will, of course, vary greatly based on your role and level of experience, but is nonetheless a good figure to have in mind when looking into the cost of living in Sydney.
Cost of Living in Sydney
There are a few non-negotiables expenses you’ll need to pay for when living in Sydney, and here are some of the average costs of these.
Housing
With townhouses, condos, and a skyline of high rise apartment blocks, you can choose whatever style of living appeals to you. Regardless of whether you’re renting or buying, you can expect to pay significantly more to live in one of Sydney’s inner suburbs than if you live a little further away.
To live in or very near the city, a one bedroom apartment costs, on average, $3,200 per month to rent. This places the rental price in Sydney a full thousand dollars above the national average in Australia.
If you plan to buy a house in Sydney, the median house price as of April 2024 is an estimated $1.6m.
Utilities
Gas, electric, and water bills are other non-negotiable expenses, whether you have your own place or are renting. Although the cost of accommodation is higher in Sydney, you’ll be happy to hear that utility bills are generally aligned with what you’d be paying elsewhere in Australia.
Phone and Internet
You can shop around for phone and internet plans in Sydney to find what best suits your needs. The average person in Sydney pays about $40 per month for a sim-only phone plan, and closer to $80 for their home internet or NBN.
Transport
The greater Sydney area spans more than 12,000 square kilometres. Even if you live close to where you work, you’ll probably want to explore the city in your spare time, meaning you’ll need to set some money aside for transport costs.
Sydney’s public transport system is made up of trains, trams, and buses, which are paid for either via your phone or bank card’s contactless payment, or with an Opal card. If you’re using public transport frequently, you may want to purchase a monthly pass for $217, which is roughly $50 more expensive than elsewhere in the country. If driving, fuel prices are only marginally more than other cities.
Groceries
When grocery shopping in Sydney, you’ll find the supermarket prices just over 3% higher than the national average. Many Sydneysiders report an average weekly spend of $150-$200 on their grocery hauls.
Leisure
Sydney offers ample ways to spend your free time without spending any of your hard-earned cash. When the sun is shining, you can expect to see the beaches filled with people, as well as the saltwater pools like Bondi Icebergs. If being outdoors is your cup of tea, then the Blue Mountains offers great free walking and hiking routes, but as it’s over an hour away, you should factor transport costs into your plans.
For indoor activities in the city, cinema tickets cost around $24, and gym memberships come in at an average of $87 per month. On rainy days, you can seek shelter in Sydney’s many galleries and museums, many of which offer free admission.
Moving Time
Ready to pack your bags and move to Sydney? At Allied, we can help out with everything from packing to vehicle relocation, and storage for those items that you’re not quite ready to take with you just yet. When you’re ready to get going, our team of Allied experts in Sydney will be ready to lend a helping hand. Get in touch with our Allied Sydney team to speak with one of our specialists and begin planning your relocation!