How much do you need to earn to live comfortably in Perth?

Year-round sun, low unemployment rates and living costs that won’t break the bank: that’s what they say is on offer in Perth. While Perth is known as one of the more affordable capital cities to live in Australia, it’s still essential to understand all of your expenses and the general cost of living in order to budget for the type of lifestyle you’re truly looking for.

In this article, we outline clear and up-to-date budgets for:

• Perth property market (renting and buying options covered)
• Vehicle and transport expenses
• Food and dining costs
• Electrictly and household bills

And since your budget will be a reflection of your earnings - we’re covering salaries in Perth too.

Rent in Perth

Like many other Australian capitals, Perth has seen a rise in property costs over recent years. This has led to higher rental costs and a general increase in accommodation costs across the board.

Perth recorded the strongest rental growth, with annual rents increasing by 12.7% followed by Regional WA at 10.6%.

According to CoreLogic, the median rental price in Perth is $669 per week.

Detailed below is a list of median house and unit rental costs across each area in Perth.

Naturally, Perth City ranks as the most expensive area in the capital city when it comes to rental costs while the cheapest areas are the eastern suburbs.

Weekly budget: $300 to rent a room / $800 to live alone

What if I have a mortgage

According to the June 2024 Domain House Report, the median house price in Perth currently sits at $850,240.

This average reflects a continuous increase over the last 12 months (a total increase of 23.8%).

• To put down a 20% deposit on a property of this value you would need $170,048.

• According to the RBA, the average mortgage rate offered by Australian lenders is currently 6.22% for new loans.

• At this rate, your mortgage repayments would come to roughly $1,042 per week, or $4,515 per month.

For those looking to keep costs down to a minimum there is always the option of house sharing with other like-minded professionals.

The median house price in Perth currently sits at $850,240.

Alternatively, you could explore cheaper suburbs such as Banksia Grove in the city’s North East region. The current median house price there is $588,000 and the suburb is still only about 27 km from Perth’s central business district.

Based on this property value you could pay a 20% deposit of $117,600, leaving a loan of $470,400 and weekly repayments of roughly $723.

Weekly cost: $723 - $1,042

This budget will vary depending on the area you choose and whether you choose to live independently or with flat mates

How much will I spend on food in Perth each week?

Food costs will vary greatly depending on your diet and personal taste. But, in the interest of budgeting we’ve outlined the average weekly food costs for singles, students and families living in Perth.

• Student: $160

• Single: $201

• Family: $511

If you're on a food budget, use these methods to save money on groceries.

Average electricity & household bill in Perth

Budget Direct estimates the average monthly cost in Perth for basic utilities including electricity, heating, water and garbage for an apartment of 85m2 is $308.94 per month / $71.29 per week.

If you also have internet and a mobile phone with data and a monthly plan you can expect to pay a little more on top of this cost.

Internet: $78.14 per month / $18.03 per week*

Mobile phone: $42.92 per month / $9.90 per week*

*Internet with 60 Mbps or more, unlimited data, Cable/ADSL) and Mobile Phone Monthly Plan with Calls and 10GB+ Data

Based on the above figures, Perth utilities are higher in cost than the national average.

NOTE: Perth is a city that experiences extreme heat (particularly in summer). This means it’s important to budget for higher utility costs throughout hotter months to account for air conditioning and additional water requirements.

Weekly cost: $100

Transportation costs in Perth Australia

Perth has a robust and relatively cheap public transport system including buses, ferries and trains. In some cases travel in the inner city areas is free of charge, which makes getting around easy, accessible, and affordable. People in Perth spend an average $45.90 per week on public transport.

While public transport is popular, many Perth locals still choose to own and use a car. If this is something you’re considering, we’ve put all the important weekly budgeting costs for drivers in Perth below.

• Fuel: Car owners spend an average $95.70 per week
• Car loan payments (if applicable) : $214.87 per week
• Insurance: An average $31.22 per week
• Servicing and tyres: $37.67 per week
• Roadside assistance $2.29 per week
• Registration, CTP & Licensing: $36.67 per week

Weekly cost: $418.42 per person, per week (car costs including estimated loan repayments)

Restaurant and bar prices in Perth

Perth is home to a smorgasbord of dining and drinking venues. With everything on offer from fine dining through to street eateries and coffee shops, you’re sure to find a spot to suit your budget.

To make the selection and budgeting process easier, we’ve looked at bars, restaurants and cafes in the central city to give you an idea around the type of dining and drinking budget you may need to account for.

In Perth, an average meal including a few drinks will cost about $65 - $100.

Weekly cost: $100

What will I spend on entertainment in the city?

Perth is lucky enough to have sunny weather throughout most of the year. This makes free / low cost outdoor activities more accessible. Beach trips, visits to the wine regions or exploring the coastline are available to residents at no cost.

However, there is more to enjoy than just the natural wonders. Perth is also home to a number of exciting events, shows, exhibitions and sports.

• Scitech is a popular interactive science and technology exhibition which costs roughly $24 to visit.

• The Comedy Lounge is also a popular form of weekend entertainment with shows on Friday or Saturday night and tickets starting at $53.50 for adults.

• Mini golf is another popular attraction. A session at the 3D mini golf at Glowing Rooms is just $25 per adult and $18 for kids under 15 years old.

Weekly cost: $20 - $100

How much can I expect to spend to live basically in Perth?

Based on the above budget (low-end costs, renting a room in a shared house etc.) we estimate a single person in Perth would spend around $59,249 a year.

If $60k covers the basics, how much do I need to earn to live comfortably?

If you’re spending around $60,000 living in Perth you’ll need to earn more than this to afford this lifestyle after tax.

Single people should aim to earn at least $80,000 to live in Perth. This leaves you with around $63,000 cash in hand after tax which leaves a little left over for unexpected costs. More info on the Australian tax system here.

If you live in Perth and have children you can expect your budget to be significantly higher in order to live comfortably. Instarem estimates a family of four would need to earn close to $135,000 (combined income) to cover the cost of living essentials.

To live more comfortably a family would need to earn $162,000, although this still would not leave a lot for savings or big surprise expenditures.

What’s the average salary in Perth Australia?

The average salary in Perth Australia is $97,834.

Remember, this is just the average wage, so if you’re working in a high-paying industry or profession, you may expect to earn more.

Some of the most popular jobs in Perth include:

• Civil engineer
• Registered nurse
• Property manager

These roles pay anywhere between $75,000 and $95,000 per year.

Moving to Perth

If you're looking to make the move to Perth, you can make the process simple and stress-free by booking with Upmove. You’ll get access to Australia’s most trusted removalists, so you have peace of mind during the move.