True annual cost of living in Paddington, NSW 2021
Living in a house in Paddington costs about $6,529 a year: council rates, water and sewerage, commute and home insurance combined. Paddington sits 2.4 kilometres from Sydney CBD. Unit costs reach $8,259, 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.
Estimated from AER residential benchmarks for Paddington's climate zone at 2025 rates. Get the free report for a breakdown by your exact number of occupants.
Is it cheaper to drive or take public transport from Paddington to the CBD?
Driving saves Paddington residents $1,133 per year. Annual commute cost by car is $787 versus $1,920 by public transport using the Opal network.
What are the council rates in Paddington?
Paddington falls under Woollahra Council. The average residential rate for 2026-27 is $1,894 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 $1,894 per year. These figures cover the general rate only and exclude waste and cleansing charges.
What does it cost to run a unit in Paddington?
Running a unit in Paddington costs approximately $8,259 per year by car or $9,392 by public transport. This includes council rates of $1,894, water and sewerage $1,548, estimated body corporate levy of $3,500, and contents insurance of $530. Body corporate fees vary significantly between buildings. Always confirm the actual levy before purchasing.
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Data sources: Council rates: Woollahra rates (OLG 2024-25 + IPART 2026-27 peg). Water: Sydney Water 2026-27. Commute: ATO cents per kilometre rate 2025–26 (88c/km). Insurance: AI-estimated, disclosed as estimate. Schools: ACARA ICSEA 2025. Risk: Fire: NSW RFS Bush Fire Prone Land. Flood: modelled from 30m elevation (topographic). Data updated 2026-07. Cost estimates are for comparison purposes only and do not constitute financial, insurance, or credit advice.