True annual cost of living in Cheltenham, VIC 3192
Living in a house in Cheltenham costs about $9,841 a year: council rates, water and sewerage, commute and home insurance combined. Cheltenham sits 18.4 kilometres from Melbourne CBD. Unit costs reach $10,941, with the $2,300 owners corporation levy accounting for the entire difference between the two. At 18.4km from the CBD, transport mode shifts the annual total by $2,735. The gap widens as commute costs rise.
About $189 a week to run a house here, including estimates
Unit annual cost
$10,941
Incl. owners corporation
$912/month
About $210 a week to run a unit here, including estimates
House vs unit difference
+$1,100
Unit costs more per year
Annual cost breakdown
Council rates
Official, 2026-27 Kingston rates
$1,869
Water & sewerage
Official, 2026-27 South East Water
$1,514
Driving commute
Modelled, 2026-27 ATO 91c/km · 18.4km from CBD · 192 days
$4,958
Home insurance
Estimated flood Low · fire Low
$1,500
Owners corporation
Estimated
$2,300
Total annual running cost
$9,841
($820/month, $189/week)
Excludes electricity, estimated separately below. Also excludes the state Emergency Services and Volunteers Fund levy on your rates notice: $139 a year plus 17.3 cents per $1,000 of your home's capital improved value (2026-27).
↓ 12% below Kingston City Council average
SuburbCost affordability score ●●●●○7.4/10 Good
Cheaper to run than 52% of Kingston City Council suburbs. Score blends running cost (50%), schools (20%) and flood & fire risk (30%).
Estimated electricity cost
typical 2-person household
House
$1,759/yr
4,840 kWh
Unit
$1,428/yr
3,630 kWh
Estimated from AER residential benchmarks for Cheltenham's climate zone at 2026-27 regulated prices for its electricity network. Get the free report for a breakdown by your exact number of occupants.
Getting around Cheltenham
within a 2 km walk
Nearest stop
Southland Shopping Centre/Karen Street, 548 m away, about a 7 minute walk. It is a bus stop.
Nearest hospital
Kingston Centre, 1,988 m away, about a 25 minute walk.
Supermarkets
8
Cafes
39
Parks
43
Counted from OpenStreetMap via Overpass inside a 2 km walking radius of the suburb centre, built 2026-11-03. Distances are straight line from that centre, so a specific address can be closer or further. Mapping is contributed and can lag a new opening.
Is it cheaper to drive or take public transport from Cheltenham to the CBD?
Public transport saves Cheltenham residents $2,735 per year. Annual commute cost by car is $4,958 versus $2,223 by public transport using a yearly myki Pass at the 2026 standard full fare.
What are the council rates in Cheltenham?
Cheltenham falls under Kingston City Council. The average residential rate for 2026-27 is $1,869 per year, from the council's budget: residential rate revenue divided by the number of residential assessments, plus the council's municipal charge where it sets one. Victorian councils rate on capital improved value, so individual properties pay more or less than the average. The figure excludes waste charges and the state Emergency Services and Volunteers Fund levy.
What does it cost to run a unit in Cheltenham?
Running a unit in Cheltenham costs approximately $10,941 per year by car or $8,206 by public transport. This includes council rates of $1,869, water and sewerage $1,514, estimated owners corporation levy of $2,300, and contents insurance of $300. Owners corporation fees vary significantly between buildings. Always confirm the actual levy before purchasing.
Is Cheltenham close to public transport?
The nearest scheduled service to the centre of Cheltenham is Southland Shopping Centre/Karen Street, a bus stop about 548 m away, about a 7 minute walk. That is measured from the suburb centre, so an individual address can be nearer or further. The commute figure used in the running cost on this page assumes driving, not this service.
What is the closest hospital to Cheltenham?
The closest hospital to the centre of Cheltenham is Kingston Centre, about 1,988 m away, about a 25 minute walk. Distance is straight line from the suburb centre and does not account for the road route or whether the hospital has an emergency department.
What shops and parks are in Cheltenham?
Within a 2 km walk of the centre of Cheltenham there are 8 supermarkets, 39 cafes and 43 parks. These counts come from OpenStreetMap via Overpass, which is contributed mapping and can lag a recent opening or closure.
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Data sources: Council rates: Kingston rates (2026-27 budget). Water: South East Water 2026-27. Commute: ATO cents per kilometre rate 2026–27 (91c/km). Insurance: estimated from ACCC 2026 premium rates for the area's cyclone risk on a standard $600,000 home, adjusted for flood and fire, disclosed as estimate. Schools: ACARA ICSEA 2025. Risk: Flood: Victorian planning scheme flood overlays (FO, LSIO, SBO). Fire: Bushfire Management Overlay and Bushfire Prone Area. Data last verified November 2026. Cost estimates are for comparison purposes only and do not constitute financial, insurance, or credit advice.