Quick Answer
70,000 is an above-average salary in Melbourne, placing you above roughly 65% of earners. After taxes (~18.9% effective rate), your take-home is approximately $4,732/month. A 1-bedroom apartment averages $1,700/month (36% of net income).
How does 70k stack up in Melbourne? The answer isn't as simple as checking a cost-of-living index. Your industry, household size, neighborhood choices, and spending habits all play a role. This detailed analysis covers every angle to help you evaluate this salary level.
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.
The question of whether 70k is "good" in Melbourne often reveals more about expectations than economics. For recent graduates, it might represent an exciting milestone. For experienced professionals, it could feel like a plateau. Context—your career stage, industry, and personal ambitions—shapes perception as much as data does.
Childcare and family costs in Melbourne can completely transform salary adequacy. Daycare, school supplies, extracurricular activities, and family healthcare add thousands to annual expenses. Families evaluating 70k should model these costs carefully, as they can consume 20-30% of take-home income in some markets.
Digital nomad and remote work trends have added a new dimension to salary evaluation. If you're earning 70k from a Melbourne-based employer but living part-time in lower-cost locations, your effective purchasing power increases substantially. However, tax implications of cross-border work arrangements can be complex.
Inflation trends in Melbourne directly impact whether 70k will feel the same in 12 months. Cities experiencing above-average inflation effectively give workers a pay cut each year if salaries don't adjust accordingly. Monitoring local CPI trends helps you anticipate whether your compensation is keeping pace.
The final dimension of salary evaluation is psychological. Research consistently shows that income satisfaction is relative—people compare themselves to peers, neighbors, and media portrayals. Understanding that 70k objectively provides a certain quality of life in Melbourne, regardless of what others earn, is key to financial contentment.
Is 70k a good salary in Melbourne in 2026?
70k is an above-average salary, placing you above roughly 65% of earners in Melbourne. The local median salary is $58,000, so earning $70,000 puts you at the 65th 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 70k in Melbourne?
On a gross salary of $70,000 in Australia, you can expect an effective tax rate of approximately 18.9%. This means roughly $13,217 per year goes to taxes, leaving you with a net income of about $56,783 per year ($4,732 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 70k salary, a 1-bedroom rent would consume about 36% of your after-tax income, which is a significant portion of income.
How does 70k in Melbourne compare to other cities?
Purchasing power varies by city, so 70k in Melbourne is not equivalent elsewhere. Adjusted for cost of living, the same standard of living would require approximately: New York ($100,000), London ($85,000), San Francisco ($105,000). 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 70k in Melbourne?
On 70k in Melbourne, your estimated monthly take-home pay is $4,732 after taxes. With typical expenses of $2,470/month (rent, groceries, transport, utilities, and leisure), you could potentially save around $2,262 per month ($27,144/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.
