True annual cost of living in North Melbourne, VIC 3051
Living in a house in North Melbourne costs about $5,679 a year: council rates, water and sewerage, commute and home insurance combined. North Melbourne sits 2.5 kilometres from Melbourne CBD. Unit costs reach $7,629, with the $3,500 owners corporation 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 $109 a week to run a house here, including estimates
Unit annual cost
$7,629
Incl. owners corporation
$636/month
About $147 a week to run a unit here, including estimates
House vs unit difference
+$1,950
Unit costs more per year
Annual cost breakdown
Council rates
Official, 2026-27 Melbourne rates
$1,322
Water & sewerage
Official, 2026-27 Greater Western Water (central)
$1,499
Driving commute
Modelled, 2026-27 ATO 91c/km · 2.5km from CBD · 192 days
$858
Home insurance
Estimated flood High · fire Low
$2,000
Owners corporation
Estimated
$3,500
Total annual running cost
$5,679
($473/month, $109/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).
Near Melbourne City Council average
SuburbCost affordability score ●●●●○7.7/10 Good
Cheaper to run than 98% of Melbourne City Council suburbs. Score blends running cost (50%), schools (20%) and flood & fire risk (30%).
Estimated electricity cost
typical 2-person household
House
$1,699/yr
4,840 kWh
Unit
$1,385/yr
3,630 kWh
Estimated from AER residential benchmarks for North Melbourne'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 North Melbourne
within a 2 km walk
Nearest stop
Arden, 592 m away, about a 7 minute walk. It is a train stop.
Nearest hospital
Royal Children's Hospital, 618 m away, about an 8 minute walk.
Supermarkets
28
Cafes
155
Parks
100
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 North Melbourne to the CBD?
Driving saves North Melbourne residents $1,365 per year. Annual commute cost by car is $858 versus $2,223 by public transport using a yearly myki Pass at the 2026 standard full fare.
What are the council rates in North Melbourne?
North Melbourne falls under Melbourne City Council. The average residential rate for 2026-27 is $1,322 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 North Melbourne?
Running a unit in North Melbourne costs approximately $7,629 per year by car or $8,994 by public transport. This includes council rates of $1,322, water and sewerage $1,499, estimated owners corporation levy of $3,500, and contents insurance of $450. Owners corporation fees vary significantly between buildings. Always confirm the actual levy before purchasing.
Is North Melbourne close to public transport?
The nearest scheduled service to the centre of North Melbourne is Arden, a train stop about 592 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 North Melbourne?
The closest hospital to the centre of North Melbourne is Royal Children's Hospital, about 618 m away, about an 8 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 North Melbourne?
Within a 2 km walk of the centre of North Melbourne there are 28 supermarkets, 155 cafes and 100 parks. These counts come from OpenStreetMap via Overpass, which is contributed mapping and can lag a recent opening or closure.
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10-year cost projection
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Data sources: Council rates: Melbourne rates (2026-27 budget). Water: Greater Western Water (central) 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.