What is the Cost of Living in Perth?
Perth is Australia's most popular city and the capital of Western Australia. It is also known as the "City of Lights" due to its vibrant nightlife, which has attracted many tourists from all over the world.
With a population of 2 million people, Perth is one of the fastest-growing cities in Australia and has earned itself an international reputation for being one of the most liveable cities in the world.
Perth's economy is strong and diverse, with major industries including mining, tourism, manufacturing, and financial services. The city also boasts several educational institutions that attract students from all over the world to study at one of the city's various colleges and universities.
The cost of living in the city depends on various factors, including your lifestyle in Perth and where you choose to live. However, even after considering all factors, the overall cost of living in Perth is considered to be more affordable compared to other big cities around the world. In fact, the cost of living in Perth vs Melbourne, Sydney, or even Brisbane is quite low. So if you’re planning to move to Perth and wondering about its cost of living, then this blog is for you.
For a family of four estimated monthly costs in Perth amounts to AU$7,500, while for a single person, it comes to AU$4,500. Comparatively, the cost of living in Perth is higher than in 80% of cities in Australia, but then the quality of life is worth it.
Estimated Monthly Costs
When it comes to estimating your monthly expenses, several key factors play a crucial role. In terms of utilities, phone, and internet prices in your area can impact your budget. Additionally, considering public transportation costs is important for daily commuting.
When calculating your average monthly costs, it's essential to consider housing expenses, including rent or mortgage payments, as well as utilities such as electricity, water, and gas. Other costs to account for include groceries, transportation, and healthcare expenses.
It's also beneficial to research the average salary for your profession in your area to ensure your income aligns with your monthly expenses. Understanding the employment market and potential job opportunities is crucial for financial stability.
By taking all these factors into account, you can create a comprehensive estimation of your monthly costs, helping you effectively manage your budget and plan for a secure financial future.
A Breakdown of the Cost of Living in Perth in 2023
1. Housing
When calculating the Perth living cost, housing is one of the biggest expenses you will have to bear. The important thing to understand here is that the average cost of living in Perth may vary depending on which part of the city you choose to live in.
In general, the cost of living in Perth is the highest in and around the city center and it reduces as one moves toward the outskirts of the city.
The average rent for accommodation in Perth for a 1 bedroom apartment in the City Centre is around 2500 AUD per month, while a 1 bedroom apartment outside the City Centre has an average monthly rent of about 1800 AUD.
On the other hand, the rent prices in Perth for a 3-bedroom apartment inside the City Centre costs around 3,700 AUD on average for a month.
If you are willing to buy your own place, it will cost around 9,000 AUD for a square meter unit inside the City Centre and about 8,000 AUD outside the City Centre.
2. Transportation
Transportation is another crucial factor that affects your overall cost of living in Perth. If you are commuting within the city limits, you will need to buy an Opal card that can be used for train or bus rides and also to avail of special offers at different retailers across Perth.
The fare for trains and buses depends on the number of zones crossed during your travel. Public transport fees range from 3.50 AUD to 5 AUD for adults and children aged 15 and above. However, this amount may increase depending on where you live and which transport options you and your family are using at any given time. Also, if your commute extends beyond the city limits, you should consider the fuel costs incurred on driving to work or school every day.
If you’re planning to take a taxi, the costs generally start around 7 AUD and can go up to 85 AUD based on the distance.
3. Utilities
The cost of utilities (electricity, heating and cooling, and water) in Perth is among the highest in Australia. This can be attributed to the mild climate and high level of rainfall experienced in Perth. The price of electricity in Perth varies depending upon the size and type of the household and the energy usage needs.
For people living in apartments, the average electricity bill in Perth is around 332 AUD per month. If you live in a house, the average electricity bill Perth is generally slightly lower at 253 AUD per month.
The average heating and cooling costs are also high, with most apartments having air-conditioning installed. Thankfully, as is the case in the entire Western Australian region, the average water bill Perth per month is the lowest in Australia. The average water cost per litre Perth is around 1.00 AUD and most households receive a water bill every two months according to the readings collected from their water meters. However, there are other costs like internet fees, phone charges, etc, which add up to more than 10% of your monthly expenditure and tend to impact the cost of living in Perth quite significantly.
4. Food
Food is fairly expensive in Perth compared to other major cities in Australia and is a key contributor to the cost of living in Western Australia. However, it is still within an affordable range given the fact that Western Australia has some of the best agricultural lands on earth. Fresh produce is often flown in from interstate or overseas, which adds to the price tag of food items. However, the cost of making food at home is quite cheaper than eating out at restaurants.
When it comes to eating out in restaurants, Perth has one of the best food cultures in Australia. Perth beer prices are nearly half the national average price for the beverage. The city offers a wide variety of cuisines made available at relatively affordable prices. The price of one meal per person in Perth can start from as low as 26 AUD and can go up to 60 AUD. If you’re planning to eat a three-course meal for two people, then the cost can vary anywhere between 80 AUD and 140 AUD based on the restaurant you choose.
It's not difficult to find great restaurants offering delicious food within diverse budget ranges. If you're looking for specialties like Indian food or Chinese food, you won't be disappointed as there are plenty of options available at every corner.
5. Entertainment
Perth has a vibrant cultural scene with many festivals taking place throughout the year including Fringe World Festival, Perth International Film Festival, and Perth Writers Festival. Hence, it is not surprising that cultural diversity is an integral part of everyday life in Perth.
Perth also has a wide range of entertainment avenues such as Fremantle Markets and Rottnest Island. Other popular attractions include the Kings Park & Botanic Garden, which is home to numerous interesting species of plants and animals such as kangaroos and emus. The city also houses several museums, which include the Fremantle Prison Museum, Western Australian Maritime Museum, and Perth Mint Museum that offer visitors an insight into life in Perth during different times.
Clubbing is another important aspect of Perth Living, and the city houses several clubs offering various activities. Many clubs in Perth charge a nominal rate of 70 AUD per person and movie tickets are around 23 AUD per person.
6. Education (Excluding Tuition Fees)
The cost of education in Perth is very reasonable compared to other states in Australia. In fact, this is one area where you can save money when compared to other states given the significant difference in cost of living Melbourne vs Perth for people with school-going children. Several different public schools have been set up all over the city, making it easier for both parents and children to get quality education at no cost.
Conclusion - Summary of your Living Expenses
In conclusion, understanding the cost of living in Perth is essential for anyone planning a move to this vibrant Australian city. Knowing the major living expenditures, from housing to transit and groceries, aids in successful financial planning.
Perth has a wide variety of housing alternatives, with costs varying depending on location and home type. The city has a solid public transit system and also offers automobile ownership alternatives.
There are various marketplaces and supermarkets that provide economical grocery selections. Individuals may make educated decisions and efficiently manage their spending while enjoying the great quality of life that Perth has to offer by taking these things into account.
If you are still pondering the question of, “Is Perth a good place to live?”, the answer is definitely yes. The cost of living in Perth can be easily managed by those working here or planning to stay here for a longer period. Once you get the hang of the most affordable ways to manage Perth cost of living, you can enjoy a comfortable life with a decent income. Just make sure to keep the above estimates of the costs handy while using the Perth cost of living calculator to plan your move to the city more efficiently.
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