True annual cost of living in Milsons Point, NSW 2061
Living in a house in Milsons Point costs about $6,006 a year: council rates, water and sewerage, commute and home insurance combined. Milsons Point sits 2.3 kilometres from Sydney CBD. Unit costs reach $7,836, with the $3,500 body corporate levy accounting for the entire difference between the two. Transport mode has the biggest effect on total cost in a suburb this close to the city.
About $116 a week to run a house here, including estimates
Unit annual cost
$7,836
Incl. body corporate
$653/month
About $151 a week to run a unit here, including estimates
House vs unit difference
+$1,830
Unit costs more per year
Annual cost breakdown
Council rates
Official, 2026-27 North Sydney Council rates (IPART approved SRV, 23.3% in
$1,327
Water & sewerage
Official, 2026-27 Sydney Water
$1,548
Driving commute
Modelled, 2026-27 ATO 91c/km · 2.3km from CBD · 192 days
$781
Home insurance
Estimated flood High · fire Low
$2,350
Body corporate
Estimated
$3,500
Total annual running cost
$6,006
($501/month, $116/week)
Excludes electricity, estimated separately below.
Near North Sydney Council average
SuburbCost affordability score ●●●●○7.5/10 Good
Cheaper to run than 98% of North Sydney Council suburbs. Score blends running cost (50%), schools (20%) and flood & fire risk (30%).
Estimated electricity cost
typical 2-person household
House
$2,342/yr
5,238 kWh
Unit
$1,909/yr
3,929 kWh
Estimated from AER residential benchmarks for Milsons Point'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 Milsons Point
within a 2 km walk
Nearest stop
Milsons Point Wharf, 168 m away, about a 2 minute walk. It is a ferry stop.
Nearest hospital
Ramsay Clinic Cremorne, 1,940 m away, about a 24 minute walk.
Supermarkets
15
Cafes
151
Parks
138
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 Milsons Point to the CBD?
Driving saves Milsons Point residents $1,139 per year. Annual commute cost by car is $781 versus $1,920 by public transport using the Opal network.
What are the council rates in Milsons Point?
Milsons Point falls under North Sydney Council. The average residential rate for 2026-27 is $1,327 per year for an owner-occupied house, based on OLG data uplifted by the council's IPART rate peg. Individual properties pay more or less depending on land value. Unit owners in strata schemes pay $1,327 per year. These figures cover the general rate only and exclude waste and cleansing charges.
What does it cost to run a unit in Milsons Point?
Running a unit in Milsons Point costs approximately $7,836 per year by car or $8,975 by public transport. This includes council rates of $1,327, water and sewerage $1,548, estimated body corporate levy of $3,500, and contents insurance of $680. Body corporate fees vary significantly between buildings. Always confirm the actual levy before purchasing.
Is Milsons Point close to public transport?
The nearest scheduled service to the centre of Milsons Point is Milsons Point Wharf, a ferry stop about 168 m away, about a 2 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 Milsons Point?
The closest hospital to the centre of Milsons Point is Ramsay Clinic Cremorne, about 1,940 m away, about a 24 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 Milsons Point?
Within a 2 km walk of the centre of Milsons Point there are 15 supermarkets, 151 cafes and 138 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: North Sydney Council rates (IPART approved SRV, 23.3% in 2026-27, Final Report June 2026). Water: Sydney 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: Fire: NSW RFS Bush Fire Prone Land. Flood: modelled from 30m elevation (topographic). Data last verified September 2026. Cost estimates are for comparison purposes only and do not constitute financial, insurance, or credit advice.