Glebe vs Ultimo: true annual running costs compared (2026)
Last updated July 2026 · council rates current NSW schedules, ATO 91c/km, Opal & Translink fares, AER electricity benchmarks
Glebe and Ultimo are both Sydney rates (OLG suburbs, sitting 2.3 km and 1.7 km from Sydney CBD respectively, and are commonly compared by buyers weighing up running costs within the same council area.
Ultimo runs $850 a year cheaper than Glebe, driven mostly by home insurance. Over 10 years at 3% growth that gap compounds to about $9,744.
Over 10 years, Ultimo costs about $9,700 less to run than Glebe — the same as paying $9,700 less for the home. It's the cost no listing shows you.
Get the free report: 10-year costs, flood & fire risk, crime, schools and overall verdict →Glebe
Ultimo
Annual cost breakdown
| Category | Glebe | Ultimo | Difference |
|---|---|---|---|
| Council rates | $924 | $924 | - |
| Water & sewerage | $1,548 | $1,548 | - |
| Commute (driving) | $781 | $581 | +$200 |
| Commute (public transport) | $1,920 | $1,920 | - |
| Home insurance | $2,950 | $2,300 | +$650 |
| Body corporate (unit) | $3,500 | $3,500 | - |
| Total (driving) | $6,203 | $5,353 | +$850 |
| Total (public transport) | $7,342 | $6,692 | +$650 |
Green = cheaper. Commute: ATO 91c/km, 220 working days. Insurance AI-estimated; actual premiums vary. Council rates: average residential rate (NSW, IPART-uplifted).
| Dwelling | Glebe | Ultimo | Difference |
|---|---|---|---|
| House | $2,342 | $2,342 | - |
| Unit | $1,909 | $1,909 | - |
Estimated from AER residential benchmarks for each suburb's climate zone at 2026-27 regulated prices for each suburb's electricity network, including supply charge (AER Default Market Offer caps, or the QCA price in regional Queensland; unit ≈ 75% of a house). Get the free report for a breakdown by your exact number of occupants.
Cost breakdown chart
Annual cost breakdown — Glebe vs Ultimo (2026-27)
What the numbers show
Ultimo costs $850 less per year to run by car. Held over ten years at 3% annual cost growth, that gap compounds to $9,744 in favour of Ultimo.
The biggest single gap is home insurance at $650 per year. Glebe carries high flood risk, which pushes estimated premiums higher.
On public transport the gap is $650 per year, $7,342 from Glebe versus $6,692 from Ultimo.
Where the difference actually comes from
- Council rates is identical at $924 a year.
- Water and sewerage is identical at $1,548 a year.
- Driving commute favours Ultimo by $200 a year, $581 against $781.
- Building insurance favours Ultimo by $650 a year, $2,300 against $2,950.
Both suburbs sit in the same council area, so the rates line is identical and none of the difference between them comes from council. What separates them is commute distance and the insurance band.
Flood risk is rated high in Glebe against medium in Ultimo, which feeds the insurance estimate. The catchment state school scores 10 in Glebe against 8.2 in Ultimo, on ACARA's ICSEA percentile scaled to ten.
10-year cumulative cost projection
| Year | Glebe cumulative | Ultimo cumulative | Difference |
|---|---|---|---|
| Year 1 | $6,203 | $5,353 | $850 |
| Year 3 | $19,173 | $16,546 | $2,627 |
| Year 5 | $32,933 | $28,420 | $4,513 |
| Year 10 | $71,110 | $61,366 | $9,744 |
Assumes 3% annual cost growth. Excludes purchase price, mortgage, and personal expenses.
Frequently asked questions
Is Glebe or Ultimo cheaper to live in?
Ultimo is cheaper to run by car at $5,353 per year versus $6,203 for Glebe, a difference of $850 annually. Figures cover council rates, water, commute (ATO 91c/km), and home insurance. Source: SuburbCost 2026 data.
What are council rates in Glebe and Ultimo?
Annual council rates for a house are $924 in Glebe (Sydney rates (OLG) and $924 in Ultimo (Sydney rates (OLG). Water and sewerage adds $1,548 in Glebe and $1,548 in Ultimo. Both figures are the average residential rate reported to the Office of Local Government, uplifted by each council's IPART rate peg.
How does the commute cost compare between Glebe and Ultimo?
Annual driving commute costs are $781 from Glebe and $581 from Ultimo to Sydney CBD (ATO 91c/km). Public transport costs $1,920 from Glebe and $1,920 from Ultimo.
What is the 10-year cost difference between Glebe and Ultimo?
At 3% annual cost growth, Glebe costs a cumulative $71,110 and Ultimo costs $61,366 over 10 years by car. The cumulative difference is $9,744 in favour of Ultimo. Excludes purchase price, mortgage, and personal expenses.
Which of Glebe and Ultimo is best to actually live in?
You've got the costs. Get the free personalised report for the rest: a clear verdict on which suburb wins, the full flood, fire and crime risk profile, nearest schools, estimated electricity cost by number of occupants, and your own loan or rent stress-tested over 10 years. No spam.
Related comparisons
Sources: Sydney rates (OLG and Sydney rates (OLG rate data, water utility pricing (QLD: Queensland Urban Utilities / Unitywater; NSW: Sydney Water / Hunter Water), ATO 91c/km, and SuburbCost AI insurance estimates. Data updated July 2026.