Quick Answer
60,000 is a decent salary in Melbourne, placing you above roughly 53% of earners. After taxes (~16.6% effective rate), your take-home is approximately $4,169/month. A 1-bedroom apartment averages $1,700/month (41% of net income).
Is 60k enough to live comfortably in Melbourne? This comprehensive guide examines the local cost of living, tax implications, and how your salary compares to typical earnings in the city. We'll also show you what the same purchasing power looks like in other major cities worldwide.
Melbourne (pop. 5.0 million) is moderately expensive compared to global metros, with a cost of living index of 70 (NYC = 100). Average 1-bedroom rent is $1,700/month and a monthly transit pass costs $130. It's considered a growing tech scene with a tech score of 6/10.
To truly evaluate 60k in Melbourne, you need to think in terms of purchasing power rather than raw numbers. Purchasing power adjusts for local prices—a salary that buys a comfortable life in one city might only cover basics in another. International indices like the Big Mac Index or the Numbeo cost-of-living index help contextualize what 60k really means in Melbourne.
Employer benefits in Melbourne can significantly alter the effective value of 60k. Stock options, pension contributions, meal subsidies, gym memberships, and transport allowances vary widely between companies and countries. A slightly lower base salary with strong benefits can be worth more than a higher base with minimal extras.
The stability and predictability of income at 60k in Melbourne also matters. Salaried roles provide consistency, while roles with significant variable compensation (commissions, bonuses) introduce uncertainty. Understanding how much of your target income is guaranteed versus performance-dependent shapes your financial planning.
Weather and seasonal factors might seem unrelated to salary, but they affect spending patterns in Melbourne. Cities with harsh winters require heating budgets and warmer wardrobes; tropical cities may have higher air conditioning costs. These climate-related expenses add up and should feature in your 60k budget planning.
Lastly, consider the "exit value" of working in Melbourne at 60k. Does experience in this market command a premium if you later relocate? Professionals who've worked in major financial or tech centers often find their experience valued higher when moving to lower-cost markets, effectively converting their time in Melbourne into future earning power.
Is 60k a good salary in Melbourne in 2026?
60k is a decent salary near the middle of the income distribution in Melbourne. The local median salary is $58,000, so earning $60,000 puts you at the 53th percentile. After accounting for housing (average $1,700/month for a 1-bedroom), taxes, and daily costs, this salary allows for meaningful monthly savings.
How much tax will I pay on 60k in Melbourne?
On a gross salary of $60,000 in Australia, you can expect an effective tax rate of approximately 16.6%. This means roughly $9,967 per year goes to taxes, leaving you with a net income of about $50,033 per year ($4,169 per month). The exact amount may vary based on deductions, filing status, and local levies.
What is the average rent in Melbourne in 2026?
As of 2026, the average rent for a 1-bedroom apartment in central Melbourne is approximately $1,700 per month, while a 2-bedroom averages around $2,400 per month. On a 60k salary, a 1-bedroom rent would consume about 41% of your after-tax income, which is a very high share of income.
How does 60k in Melbourne compare to other cities?
Purchasing power varies by city, so 60k in Melbourne is not equivalent elsewhere. Adjusted for cost of living, the same standard of living would require approximately: New York ($85,714), London ($72,857), San Francisco ($90,000). Melbourne has a purchasing power index of 82 (NYC = 100), meaning your money goes somewhat less far than in New York.
What is the cost of living in Melbourne in 2026?
Melbourne has a cost of living index of 70 (where New York = 100), making it a moderately expensive city. Key monthly costs include: rent ($1,700 for 1BR), groceries (~$360), transport ($130), and utilities (~$105). Total monthly expenses for a single professional average around $2,470 before discretionary spending.
Can I save money on 60k in Melbourne?
On 60k in Melbourne, your estimated monthly take-home pay is $4,169 after taxes. With typical expenses of $2,470/month (rent, groceries, transport, utilities, and leisure), you could potentially save around $1,699 per month ($20,388/year). This provides solid room for building an emergency fund and investing.
Last updated: 2026-02-19 | Data sources: Numbeo, OECD, Glassdoor, and local government statistics.
Disclaimer: This page uses market data and cost-of-living sources for guidance. All figures and advice are estimates, not guarantees. Local conditions and personal circumstances may vary.
