Best Places to Rent in Melbourne

August 6, 2022
Best Places to Rent in Melbourne

Over the years, more and more people have been considering renting a home in Melbourne. This isn’t surprising—the city consistently ranks as one of the best places to live in Australia, and it’s easy to see why. 

From the world-class food and wine scene to the endless list of things to do, there’s something for everyone in Melbourne. Plus, with its diverse range of neighbourhoods, you’re sure to find a rental that suits your lifestyle.

Why Melbourne?

The median rent in Melbourne is about $430 to $450 for weekly stays, making it one of the cheapest places to rent a home in Australia. Furthermore, if you end up loving the place you live, you won’t have a hard time finding Melbourne property for sale.

Most Affordable, Livable Suburbs

Anyone looking for an affordable place to live in Melbourne should consider Watsonia, Dandenong, or Frankston. These suburbs have the lowest median rental prices of any livable suburb in the city—$360 to $380 per week. That’s a far cry from the expensive inner-city neighbourhoods, where prices can easily top $1,000 per week.

Most Liveable

Best Places to Rent in Melbourne

South Yarra, East Melbourne, and Carlton are three of the most livable locales in the city of Melbourne. What makes these areas so comfortable?

Access to education is crucial—all three suburbs are home to many quality schools. They also have relatively low traffic levels, and residents have easy access to essential services. In addition, all three suburbs boast recreational and cultural amenities, making them ideal places for families and professionals alike.

However, most liveable doesn’t mean the cheapest. These areas can have some of the priciest home maintenance and the highest cost of pest inspection in Melbourne.

Most Livable Suburb for Renting a House

Watsonia is the perfect suburb for anyone looking to rent a house in Melbourne. It’s only eighteen kilometres northeast of the city, so you’ll have no problem getting into the city for work or play. If you need to get around by train, Watsonia has you covered—it ranks 22nd overall for access to the train. 

Watsonia isn’t just a convenient place to live, it also ranks well for proximity to primary schools and tree cover, making it a livable and desirable place to call home. It’s also a great place to raise a family, so if you’re looking for a place to rent in Melbourne, give Watsonia a look–you won’t be disappointed.

Most Livable Suburb for Renting an Apartment

Macleod is the most livable suburb for renting units. Located south of Watsonia, Macleod is the most cost-effective area for apartments, with a median rental fee of $265 per week. The area has experienced substantial growth in recent years, fueled by an influx of young families and professionals looking for affordable places that are close to the city. Macleod offers several parks and reserves, as well as a variety of shops and restaurants. 

This suburb also has a railway station, making commuting into the city easy. With its combination of affordability, convenience, and lifestyle amenities, it’s no wonder Macleod is one of the most livable suburbs in Melbourne.

Final Thoughts

Best Places to Rent in Melbourne
Source: Melbourne Places

Melbourne is a great city with plenty of things to do and places to see. 

If you’re looking for the most affordable places to live in Melbourne, check out the suburbs of Watsonia, Dandenong, and Frankston. These areas offer good value for your money while providing a variety of amenities. On the other hand, if you’re after a luxurious rental experience, consider South Yarra, East Melbourne, or Carlton. Finally,  if you’re looking for a place to raise a family, put Watsonia on top of your list as it’s one of the most livable suburbs in Melbourne.

Soho
Join Soho for free, the new way to discover and swipe your dream home, connect to experts in the real estate community and stay updated with market trends when you are buying, renting or selling property.
Share this article
soho-logo-Hoz-Light
Want the latest real estate news in your inbox?
Just let us know your email and we will do the rest

Latest

Let us Find your next Dream Home

Our AI will create a personalised list of property matches for you to rank from over 100,000 available listings

Let us Find your next Dream Home

Our AI will create a personalised list of property matches for you to rank from over 100,000 available listings