What Is The Average Cost Of A Furnished Apartment In Melbourne?

Melbourne is a vibrant and bustling city that is home to many people from all over the world. It is a popular destination for students, young professionals, and families, as it offers a high quality of life and a wide range of employment opportunities. However, like many major cities around the world, finding affordable housing in Melbourne can be a challenge, especially if you are looking for a furnished apartment.

Furnished apartments are a great option for those who are moving to Melbourne for a short-term period, such as students or those on work assignments, as they offer the convenience of not having to purchase or move furniture. They also provide a more comfortable and homey environment than an empty apartment, which can be particularly important for those who are new to the city.

So, what is the average cost of a furnished apartment in Melbourne? The answer is that it depends on a number of factors, including location, size, and quality of the apartment, as well as the duration of the lease.

As of 2021, according to data from Domain, the median weekly rent for a furnished one-bedroom apartment in Melbourne is around $430 to $480 AUD, while a two-bedroom apartment can cost around $550 to $620 AUD per week. It is important to note that these prices are subject to change and can vary based on a number of factors, including the suburb and proximity to the city center, as well as the condition and age of the apartment.

For example, apartments in the city center tend to be more expensive than those in the suburbs, due to the convenience of being close to employment, entertainment, and cultural amenities. In areas like Southbank, South Yarra, and Docklands, the average cost of a furnished one-bedroom apartment is around $500 to $600 AUD per week, while a two-bedroom apartment can cost upwards of $700 AUD per week.

On the other hand, suburbs further away from the city center, such as Preston, Brunswick, and Footscray, tend to have more affordable furnished apartments, with one-bedroom apartments costing around $350 to $400 AUD per week, and two-bedroom apartments costing around $450 to $500 AUD per week.

It's important to note that these prices are for furnished apartments only, and do not include utilities such as electricity, water, and gas, which may be an additional expense. Some landlords or real estate agents may include these expenses in the rent, so it's important to clarify this before signing a lease.

It's also worth noting that the duration of the lease can have a significant impact on the cost of a furnished apartment. Generally, the longer the lease, the lower the weekly rent will be. For example, a six-month lease may be more expensive on a weekly basis than a 12-month lease.

In addition to the weekly rent, there may be other costs associated with renting a furnished apartment in Melbourne, such as a security deposit, application fee, or cleaning fee. These costs can vary depending on the landlord or real estate agent, so it's important to clarify these fees before signing a lease.

Overall, the cost of a furnished apartment in Melbourne can vary widely depending on a number of factors, including location, size, and quality of the apartment, as well as the duration of the lease. However, with a little research and a clear understanding of your needs and budget, it is possible to find a comfortable and affordable furnished apartment in this dynamic and exciting city.