Melbourne, known for its vibrant arts scene, stunning architecture, and diverse culture, often ranks high on the list of desirable cities to live in. However, with its reputation comes a cost. Housing prices in Melbourne can be daunting for many, especially those looking for affordable living options.
Whether you’re a student, young professional, or family looking to cut down on living expenses, finding a cheap place to live in Melbourne can be a top priority. Fortunately, several suburbs and neighbourhoods within Melbourne offer affordable rental and housing options without sacrificing the perks of city living. Let’s dive into some of the cheapest places to live in Melbourne, why they are budget-friendly, and how you can make the most of your living experience.
Where Is The Cheapest Place To Live In Melbourne?
When considering the cheapest places to live in Melbourne, several suburbs come to mind, each offering its unique charm while keeping housing costs low. Some of the cheapest places to rent in melbourne include:
Melton
Melton, located around 35 kilometres west of Melbourne’s central business district (CBD), is often regarded as one of the most affordable suburbs in the region. Known for its family-friendly atmosphere and quiet streets, Melton offers a mix of houses and units at much lower prices compared to inner-city suburbs. While it’s a bit further from the city, Melton’s expanding infrastructure and frequent public transport options make it a viable option for those who don’t mind the commute.
Werribee
Werribee is another suburb that provides great value for money. Situated about 32 kilometres southwest of the CBD, Werribee offers an appealing mix of affordability and lifestyle amenities. It is close to the Werribee River, parks, and the Open Range Zoo, a plus for nature enthusiasts. Rental prices and property values here are generally more budget-friendly, making it a popular choice for families and first-time homebuyers.
Frankston
Located on the shores of Port Phillip Bay, Frankston is about 40 kilometres southeast of Melbourne’s CBD. It’s known for its beaches, parks, and vibrant arts scene. While Frankston offers a coastal lifestyle, it remains one of Melbourne’s most affordable bayside suburbs. With good public transport options and a developing town centre, it’s attractive for those looking to balance city access with coastal living at a lower price.
Sunshine
Sunshine, located about 12 kilometres west of Melbourne’s CBD, has seen significant growth and development in recent years. Once considered a purely industrial area, Sunshine has transformed into a thriving multicultural suburb with affordable housing options. It offers a blend of detached houses and apartments, and with continued investment in local infrastructure, it’s becoming a desirable location for budget-conscious renters and buyers.
Why Are These Areas More Affordable?
There are several reasons why certain areas in Melbourne offer more affordable housing options compared to others. Understanding the dynamics behind these prices can help when choosing where to live.
Distance From The CBD
One of the key factors influencing the affordability of housing is the distance from the central business district (CBD). Suburbs that are further from Melbourne’s CBD tend to have lower property prices and rental costs.
Melton and Werribee, for example, are both located around 30-40 kilometres from the city, making them more affordable compared to inner-city suburbs like South Yarra or Fitzroy. The trade-off is that you may face longer commute times, but if you’re looking to save on rent or property costs, this distance could be worth it.
Ongoing Development
Many affordable suburbs are located in areas that are undergoing significant development or regeneration. Sunshine and Werribee, for instance, have experienced recent investments in infrastructure, retail centres, and public spaces.
However, these areas haven’t yet reached their full potential in terms of property value, meaning you can still find budget-friendly options. As these areas continue to develop, housing prices may increase, but for now, they remain accessible for those looking for affordable living.
Economic And Demographic Factors
Certain areas may be more affordable due to economic or demographic reasons. Suburbs with a higher proportion of rental properties, lower average incomes, or limited access to luxury amenities tend to offer cheaper housing.
Frankston, for example, has long been known as a more affordable suburb due to its working-class roots, even though it offers a great coastal lifestyle. Additionally, areas with higher crime rates or less desirable schools may also offer lower property prices, though these factors should be weighed against personal preferences and lifestyle needs.
How to Find Affordable Housing in Melbourne
If you’re on the hunt for cheap housing in Melbourne, there are a few strategies you can employ to find the best deals.
Explore Outer Suburbs
As mentioned earlier, Melbourne’s outer suburbs are generally more affordable than those closer to the city. While you may need to travel longer distances, many of these areas offer great community amenities and growing infrastructure. Some outer suburbs, like Werribee and Frankston, even have their thriving local centres, meaning you won’t always need to travel into the city for entertainment or shopping.
Consider Public Transport Accessibility
If you’re working or studying in Melbourne’s CBD, public transport accessibility should be a key factor in your decision. Many affordable suburbs have frequent train or bus services that connect to the city, making commuting easier. Sunshine, for instance, is only a 20-minute train ride from the CBD, making it one of the best value-for-money options in terms of housing and transport.
Share Accommodation
Another way to cut down on housing costs is by considering shared accommodation. Renting a room in a shared house or apartment can be significantly cheaper than renting an entire property on your own. Many affordable suburbs, such as Melton and Sunshine, have plenty of options for shared housing. Additionally, sharing rent and utility costs with housemates can free up extra money for other expenses.
Negotiate Rent And Look For Deals
If you’re renting, don’t be afraid to negotiate with landlords or real estate agents, especially in areas where there may be a surplus of available properties. You can sometimes secure lower rent by signing longer leases or negotiating on property features. Additionally, keep an eye out for rental deals or discounts, particularly during the offseason or in areas with lots of available properties.
Conclusion
Finding affordable housing in Melbourne may seem challenging, but with the right approach, it’s entirely possible to live comfortably without breaking the bank. Suburbs like Melton, Werribee, Frankston, and Sunshine provide excellent options for those looking to balance affordability with a quality lifestyle.
While some of these areas may be farther from the city, they offer a great sense of community, growing infrastructure, and unique features that make them worthwhile places to call home. By exploring outer suburbs, considering shared accommodation, and negotiating your rent, you can significantly cut down on living expenses while still enjoying all that Melbourne has to offer.
Whether you’re moving to Melbourne for work, study, or simply looking for a change, affordable living options are available if you know where to look. With ongoing developments and investments in public transport and local amenities, these affordable suburbs may even become more valuable over time, making now the perfect time to consider them as your next home.