Cheapest Cities Near Melbourne (2026)

Melbourne has a cost of living index of 110 (US avg = 100). Here are 8 more affordable metros to consider as alternatives.

More affordable alternatives

1
Phnom Penh, KH73% cheaper
COL: 301BR: $350/moSave $1,250/mo on rent
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2
Buenos Aires, AR73% cheaper
COL: 301BR: $400/moSave $1,200/mo on rent
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3
Oaxaca, MX71% cheaper
COL: 321BR: $400/moSave $1,200/mo on rent
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4
Da Nang, VN70% cheaper
COL: 341BR: $350/moSave $1,250/mo on rent
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5
Medellín, CO68% cheaper
COL: 351BR: $500/moSave $1,100/mo on rent
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6
Marrakech, MA68% cheaper
COL: 351BR: $430/moSave $1,170/mo on rent
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7
Hanoi, VN66% cheaper
COL: 371BR: $450/moSave $1,150/mo on rent
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8
Cebu City, PH66% cheaper
COL: 371BR: $400/moSave $1,200/mo on rent
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Melbourne at a glance

110
COL index
100 = US avg
$1,600
1BR rent
per month
—
Home price
median
45%
State tax
income

Cities with similar cost of living

Atlanta, GACOL: 110Baltimore, MDCOL: 110New Haven, CTCOL: 110Nashville, TNCOL: 112

COL index sourced from Numbeo, Zillow, and BLS data · Q1 2026 · For general guidance only