Is $120K a Good Salary in Melbourne, AU?
Full budget breakdown for Melbourne on $120K/year — take-home after taxes, rent burden, what you can afford, and how it compares to the city median.
Monthly budget in Melbourne on $120K
US average equivalent
$109,000
Your $120K in Melbourne (COL: 110) buys the same as $109,000/yr in a city with average US cost of living.
Cities where $120K goes further
These cities have a lower rent burden at $120K than Melbourne.
Other salary levels in Melbourne
Frequently asked questions
Is $120K a good salary in Melbourne?
$120K/year in Melbourne gives you approximately $4,800/month in take-home pay after federal and state taxes. With a median 1BR rent of $1,600/month, your rent burden is 33% of take-home — which is considered manageable. Melbourne is on the expensive side for this salary, ranking #216 out of 238 cities.
How much is $120K after taxes in Melbourne?
On $120K/year in Melbourne (AU), you take home approximately $4,800/month after federal income tax, 45% AU state income tax, and FICA. That is roughly $57,600/year net.
What is the cost of living in Melbourne on $120K?
Monthly estimated costs in Melbourne: rent $1,600, groceries ~$380, transportation ~$150, utilities ~$130, internet ~$62. Total estimated expenses: ~$2,322/month, leaving ~$2,478/month after essentials on a $120K salary.
Tax estimates use 2026 brackets · Rent data: Zillow Observed Rent Index · Budget figures are estimates for general guidance only