Cost of Living in Sydney

Is Sydney expensive?

Sydney ranks as the 24th most expensive city in the world. For a family of four, monthly expenses without rent are around A$6,196. With rent, the total goes up to about A$12,576. A single person's monthly cost of living in Sydney is about A$1,740 without rent, but including rent, it adds up to roughly A$5,047.

Let's compare these totals with other major cities like London and Berlin. In London, a family of four can expect to pay aroundA $16,037 per month, while a single person’s costs reach about A$6,313 monthly. Berlin, on the other hand, is more affordable. A family of four spends approximately A$9,395 monthly, and a single person’s total is around A$3,661. So, while Sydney is expensive, especially in terms of rent, it still sits between London and Berlin, with London being much more expensive (Source: Numbeo).

Rent per month

Here's an idea of the average monthly rent in Sydney, depending on the apartment's size and location (Source: Numbeo):

• Apartment (1 bedroom) in the city center: A$3,307
• Apartment (1 bedroom) outside of center: A$2,235
• Apartment (3 bedrooms) in the city center: A$6,380
• Apartment (3 bedrooms) outside of center: A$3,930

Sydney's rental market in 2024 is tight, with vacancy rates at just 1.3%. High demand, fewer rental properties, and population growth are driving up prices. Finding a place can be tough, especially in popular areas like the Sutherland Shire and Northern Beaches. As an expat, you should be ready to act fast and consider areas with slightly higher vacancy rates for a better shot at finding a rental (Source: Soho).

Best neighborhoods to live In:

• Mosman — Upscale living, excellent schools, and stunning harbor views.
• Manly — Beachfront lifestyle with surfing, vibrant dining, and a relaxed atmosphere.
• Lane Cove — Family-friendly suburb with leafy streets and strong community spirit.
• Balmain — Historic charm, boutique shopping, and a lively, welcoming vibe.
• Surry Hills — Trendy inner-city area, known for arts, cafes, and nightlife.
• North Sydney — Close to the CBD with good schools, parks, and shopping.
• Wahroonga — Quiet suburban life, excellent schools, and plenty of green spaces.
• Cronulla — Coastal suburb with beautiful beaches and a laid-back feel.
• Castle Hill — Family-oriented with excellent amenities, shopping centers, and schools.

Up-and-coming neighborhoods:

• Marrickville — Close to the CBD, rising in popularity, with affordable units.
• Bankstown — Affordable housing, ongoing development, and low rental vacancies.
• Kenthurst — Recent price drops, spacious homes, and a suburban appeal.
• Woronora — Offers great value, nature nearby, and increasing interest from buyers.
• Croydon Park — Affordable homes with renovation potential in a gentrifying area.
• Engadine — Affordable suburb with nature access and a family-friendly vibe.
• Rooty Hill — Consistent growth, low vacancy rates, and reasonably priced homes.

Worst areas (based on crime rates):

• Blacktown — High crime rates, frequent thefts, drug issues, and safety concerns.
• Doonside — Divided areas with high unemployment and frequent drug-related crimes.
• Claymore — High rates of burglary, social disadvantage, and ongoing crime issues.
• Merrylands — Notorious for drive-by shootings, frequent car break-ins, and thefts.
• Fairfield — Known for gang activity, high robbery rates, and drug offenses.
• Liverpool — Petty theft, harassment, and increasing incidents of violent crime.
• Bankstown — High rates of assault, thefts, and prevalent drug-related crimes.

How to find an apartment in Sydney

Finding a rental in Sydney can be tough due to high demand, rising prices, and competitive property viewings. Start by choosing neighborhoods that suit your budget and lifestyle. For quick property searches, use websites like Realestate.com.au, Domain.com.au, and Rent.com.au. Flat sharing can be more affordable and is a great social option. Sites like Flatmates and Gumtree list shared accommodation options. Remember, rental inspections in Sydney are often scheduled in 15-minute slots, and properties can get snapped up fast; so don’t be late for viewings. Mid-week inspections usually have less competition, so make those a priority for a better chance.

Before viewing properties, prepare all documents, like your ID, proof of income, and a brief cover letter introducing yourself. Most rentals require one month's rent and a security deposit (bond) upfront, which can be challenging to manage with the high cost of living in Sydney. Leases vary from short-term to long-term, so it's crucial to know what suits your situation. Short-term rentals through Airbnb or HomeExchange can be a good temporary solution while you search for a longer-term place. And keep in mind that while water costs are generally covered by landlords, you'll need to pay for electricity, gas, and internet. For any disputes or rental issues, reach out to the NSW Fair Trading for advice on your rights as a tenant.

If you need help finding a place to rent in Sydney, we're here to assist. We can provide a personalized quote or connect you with trusted local partners who have successfully helped others secure rentals in the city. Let us make your search smoother and less stressful.

Property prices

The average price per square meter to buy an apartment in Sydney is around (Source: Numbeo):

• City center: A$22,477/sqm
• Outside of the city center: A$14,159/sqm

If you’re an expat looking to buy property in Sydney, you don’t have to have Australian citizenship, but there are a few key things you should know. Non-residents and foreign investors must get approval from the Foreign Investment Review Board (FIRB) before purchasing. FIRB usually allows foreigners to buy new homes or vacant land intended for building, but existing homes are generally off-limits unless you're planning to redevelop them into multiple dwellings. If you’re on a temporary visa, you can buy one property to live in, but you’ll need to sell it if you leave Australia. Permanent residents don’t need FIRB approval, which gives them more freedom in choosing properties.

You’ll also need to consider the taxes involved. In New South Wales, non-residents face an additional 8% stamp duty surcharge, on top of regular stamp duty fees. If you rent out the property, that income is taxable, and you might also have to pay capital gains tax (CGT) if you sell it for a profit. It’s a good idea to check with the Australian Tax Office (ATO) for specifics on tax rates and exemptions. You might also want to talk to a Property Tax Specialist to understand all the costs involved and how they affect your financial situation.

Utilities

A considerable chunk of your Sydney cost of living is the monthly utilities (Source: Numbeo):

• Basic utilities (electricity, heating, cooling, water, garbage) for an 85m² apartment: A$300
• Mobile phone monthly plan with calls and 10GB+ Data: A$40
• Internet (60 Mbps or more, unlimited data, cable/ADSL): A$78

These costs can add up quickly over the year. Here are some tips to help you cut them down:

• Use energy efficiently: Turn off lights and use energy-efficient appliances to cut costs. Install smart meters to track your usage (AGL Energy).
• Compare and switch providers: Use Energy Made Easy or Canstar Blue to find cheaper electricity and gas plans. Bill Hero can help you switch to the best deals automatically.
• Access government rebates: Check out the National Energy Bill Relief program in NSW for financial help. They offer support for those struggling with utility bills.

Public transport

Sydney has a great transport network with trains, buses, ferries, and light rail throughout the city. Get an Opal card at newsagents or supermarkets or use contactless payments on all public transport. Use the Trip Planner to find routes and schedules. Trains are great for city and regional travel, while buses and light rail cover other areas. Ferries are perfect for exploring the harbor, and you can check schedules on Sydney Ferries. If you drive, check parking fees at your accommodation and find electric vehicle charging stations on PlugShare. For parking, use apps like Secure Parking to find spots and rates. Taxis and rideshare apps like Uber and Ola are widely available. Sydney is also bike and scooter-friendly, with paths across the city; check out Lime for bike and scooter rentals.

Sydney travel ticket (Source: TransportNSW):

• Opal card: Free to obtain, pay-as-you-go fares with daily and weekly caps. All fares are discounted at off-peak times to help with the Sydney cost of living.
• Contactless card: No extra card needed, the same fares and daily/weekly caps as the Opal card.

• Daily cap:

  ◦ Mon-Thu: A$18.70

  ◦ Fri-Sun & Public Holidays: A$9.35

• Weekly cap: A$50

• Single journey:

  ◦ Metro/Train: A$4.20 (0-10 km); A$5.22 (10-20 km); A$6.01 (20-35 km)

  ◦ Bus: A$3.20 (0-3 km); A$4.36 (3-8 km)

  ◦ Ferry: A$7.13 (0-9 km); A$8.92 (9+ km)

  ◦ Light rail: A$3.20 (0-3 km); A$4.36 (3-8 km)

Taxi (Source: Numbeo):

• Taxi start (normal tariff): A$7
• Taxi 1 km: A$5
• Taxi 1 hour waiting: A$85
• From the Airport to the city center: A$45-A$55

Food

Grocery shopping in Sydney has options for every budget. If you are looking to save, Aldi offers discounted prices on a variety of products, while Woolworths and Coles have a bigger selection and regular promotions. Both have loyalty programs that can earn you discounts on future purchases. IGA stores are smaller and can be slightly pricier, but they are independently owned and operated. If you prefer specialty and international groceries, areas like Haymarket/Chinatown and Eastwood are great spots to explore for Asian and other international foods. Bulk buying at Costco is a good way to save on non-perishables and household items. For more tips on saving money, try Frugl Grocery to help you compare prices across supermarkets, this can be super helpful with the high cost of living in Sydney. If you’re looking for local produce, check out farmers' markets on weekends for fresh and often cheaper options.

Depending on shopping and dietary habits, the monthly cost for groceries in Sydney is (Source: MyConnect):

• For a single person: A$200-A$400
• For a couple: A$500-A$800
• For a family of four: A$1,000-A$1,600

Here are some typical grocery items to give you an idea of price (Source: Numbeo):

• Milk (1 liter): A$2.60
• Loaf of fresh white bread (500g): A$4.25
• Rice (1kg): A$3.50
• Eggs (12): A$6.36
• Chicken fillets (1kg): A$13
• Domestic beer (0.5 liter draught): A$11

Childcare

Childcare in Sydney can get expensive. Thankfully, the Australian Government's Child Care Subsidy (CCS) can help lower those costs, covering up to 90% of fees based on your income and the number of kids in care. There's also extra support if you're facing financial hardship and need help with the Sydney cost of living. It's a good idea to visit different childcare centers to see what works best for your schedule and budget. Don't forget to check for things like opening hours and any extra costs. You can use the Child Care Subsidy Calculator to get an idea of how much you might save.

Childcare types and prices in Sydney (Source: VIE):

• Long day care: A$100-A$200 per day
• Preschool/kindergarten: A$45-A$80 per day
• Family day care: A$7.50-A$16.80 per hour
• Before-school care: A$15-A$30 per morning session
• After-school care: A$25-A$45 per afternoon session
• Au pair: A$350-A$450 per week (plus meals and board)
• Babysitter: A$15-A$35 per hour
• In-home care: A$30-A$35 per hour
• Nanny: A$30-A$45 per hour
• Preschool (or kindergarten), full day, private, monthly for 1 child: A$2,992 (around €1,800)

International yearly school fees:

• St. Paul’s Grammar School: A$6,604-A$20,888
• St. Andrew's Cathedral School: A$22,989-A$39,528
• German International School of Sydney: A$13,850-A$22,050
• Japanese School in Sydney: A$13,280-A$13,680
• International primary school, yearly for 1 child: A$27,524 (roughly €16,700)