Cost of Living in Australia in 2024

Australia is one of the world’s premier destinations for international students seeking a high-quality education, diverse cultural experiences, and breathtaking landscapes. With its world-class universities, innovative research opportunities, and a reputation for academic excellence, the country attracts students from all over the globe. However, along with the promise of a top-tier education comes the inevitable question: What is the cost of living in Australia in 2024?

Well, let’s explore the overall expenditure in this blog by MSM Unify. 

The cost of studying in Australia varies from institution to institution. The cost of studying can vary widely depending on several factors, including the level of study (undergraduate, postgraduate, or doctoral), the specific university or college, the location, and your lifestyle.

• Tuition fees 

Tuition fees are often the most substantial expense for international students studying in Australia. On average, bachelor’s degrees are between AUD 20,000 and AUD 45,000 per annum, and for master’s, the prices range from AUD 20,000 to AUD 50,000 per annum. 

• Living cost

The cost of living in Australia can vary widely, with major cities generally being more expensive than smaller towns. On average, monthly expenses for accommodation, including rent and utilities, can range from AUD 1,500 to AUD 2,500. 

• Australian student visa fees (Subclass 500)

The cost of an Australian student visa (Subclass 500) for international students can vary depending on the duration of your course and your circumstances. However, on average the cost is approximately AUD 630 (base application charge) for the primary applicant.

• Health insurance fees

International students in Australia must possess health insurance. Most universities and colleges offer health insurance plans that you can purchase as part of your student fees. The cost of health insurance can range from AUD 450 to AUD 600 per year, depending on the institution and the coverage provided.

• Additional costs

Some courses might have specific additional costs, such as lab fees, field trips, or equipment. Be sure to check your program’s details.

 

Cost of living in Australia for Indian students 

Thanks to the numerous scholarships and grants provided by most Australian universities, international studies have become more accessible for Indian students. 

Here is a summary of the typical annual costs associated with studying in Australia:

Type of education	Tuition fees per yearÂ
UndergraduateÂ	AUD 20,000 – AUD 50,000 approximately
PostgraduateÂ	AUD 22,000 – AUD 60,000 approximately

 

Here are the top 5 universities in Australia, along with their average tuition:

Name of universitiesÂ	Tuition fees per yearÂ
University of Melbourne	AUD 40,000 – AUD 45,000 approximately
Australian National University	AUD 38,000 – AUD 42,000 approximately
University of Sydney	AUD 37,000 – AUD 42,000 approximately
University of Queensland	AUD 34,000 – AUD 40,000 approximately
University of New South Wales (UNSW)	AUD 37,000 – AUD 42,000 approximately

Please note: these tuition fees are approximate and can vary based on the specific course of study, scholarships, and other factors. It’s essential to research each university’s website for the most up-to-date tuition fee information and available financial aid opportunities.  

 

Cost of living in Australia for international students

Every year, students from around enroll in prestigious Australian universities, with aspirations of pursuing their dream careers. The country is home to some of the globe’s top educational institutions. Nonetheless, it’s important to note that the expenses associated with studying in Australia for international students can be quite substantial.

Cost category	Approximate annual cost rangeÂ
Tuition fees	AUD 25,000 – AUD 45,000 approximatelyÂ
Accommodation (Rent)	AUD 8,000 – AUD 20,000 approximately
Utilities (Electricity, water, etc.)	AUD 1,500 – AUD 2,500 approximately
Food (Groceries)	AUD 2,400 – AUD 5,000 approximately
Public transportation	AUD 1,400 – AUD 2,400 approximately
Health insurance (OSHC)	AUD 450 – AUD 600 approximately
Mobile/Internet	AUD 720 – AUD 1,200 approximately
Course materials	AUD 500 – AUD 1,000 approximately
​​Miscellaneous (Entertainment/ Personal)	AUD 2,000 – AUD 4,000 approximately

Please note: These figures are approximate and can vary based on the specific course of study, scholarships, and other factors. It’s essential to research each university’s website for the most up-to-date tuition fee information and available financial aid opportunities.  

 

Average cost of living in Australia for students

Here’s an approximate overview of the average cost of living in Australia during your studies:

Expense category  Â	Average monthly cost (AUD)
Accommodation (Rent)Â	AUD 800 – AUD 1,600 approximately  Â
Groceries (Food)    Â	AUD 200 – AUD 400  approximately
Utilities (Electricity, water, gas, etc.)	AUD 150 – AUD 250 approximately
Public transportationÂ	AUD 120 – AUD 180 approximately
Mobile/Internet    Â	AUD 20 – AUD 50 approximately
Health insurance (OSHC) Â	AUD 37 – AUD 62  approximately
Dining out/Eating at cafes/RestaurantsÂ	AUD 10 – AUD 50 approximately
Course materials/Books	AUD 40 – AUD 80   approximately
Entertainment/Leisure Â	AUD 50 – AUD 150   approximately
Total monthly expenses  Â	AUD 1,337 – AUD 2,572 approximately

Please note: These figures are approximate and can vary based on the specific course of study, scholarships, and other factors. It’s essential to research each university’s website for the most up-to-date tuition fee information and available financial aid opportunities.  

 

Eligibility requirements to study in Australia

1. Admission to a recognized institution: You should have an offer of enrollment from a registered Australian education institution. 
2. Valid student visa (Subclass 500): You must apply for and hold the appropriate student visa. The most common visa for international students is the Australian student visa (Subclass 500).
3. Financial capacity: You must demonstrate that you have sufficient funds to cover your tuition fees, living expenses, and return airfare. You may be required to provide bank statements or other evidence of financial capacity.
4. English proficiency: You will likely need to show your English language proficiency. This can be done through English language tests such as IELTS, TOEFL, or PTE Academic. 
5. Health insurance: You are required to have Overseas Student Health Cover (OSHC) for the duration of your stay in Australia. You will need to purchase OSHC before you arrive at your study destination.
6. Academic qualifications: You must provide evidence of your academic qualifications, which typically includes transcripts, diplomas, and certificates.
7. Character and health requirements: You may be required to provide a police clearance certificate and undergo a medical examination to prove that you meet character and health requirements.

 

Overall, studying in Australia will provide you with plenty of opportunities in the future. If you will 

invest in a good education. It will broaden your horizons and experience. In the beginning, the cost of studying in Australia can be overwhelming but do not worry and make the best out of it. 

If you are struggling to get the right guidance and support from educational consultants, please contact MSM Unify as soon as possible!

At MSM Unify, you can explore more than 50,000 courses across 1500+ campuses across the globe. MSM Unify has helped 2,00,000+ students achieve their study abroad dream so far. Now, it is your turn to attain your study-abroad dreams and elevate your professional journey!

 

FAQs

1. How much money does one need to live comfortably in Australia?

The amount needed for a comfortable life in Australia varies by location, lifestyle, and family size. As a rough estimate, an individual may require around AUD 2,000 to AUD 3,000 per month for an individual. 

2. How much does it cost on average to live in Australia?

The average cost of living in Australia for a single international student is around AUD 20,000 to AUD 25,000 per year. This includes expenses like accommodation, food, transport, health insurance, and other essentials. 

3. How much an Indian can earn in Australia?

The income an Indian can earn in Australia varies widely based on factors like qualifications, job industry, experience, and location. On average, Indian migrants in Australia may earn a median full-time income of approximately AUD 75,000 to AUD 80,000 annually. Skilled professionals and those in high-demand industries may earn higher salaries.