True annual cost of living in South Yarra, VIC 3141
Living in a house in South Yarra costs about $6,279 a year: council rates, water and sewerage, commute and home insurance combined. South Yarra sits 3.7 kilometres from Melbourne CBD. Unit costs reach $8,299, 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 $121 a week to run a house here, including estimates
Unit annual cost
$8,299
Incl. owners corporation
$692/month
About $160 a week to run a unit here, including estimates
House vs unit difference
+$2,020
Unit costs more per year
Annual cost breakdown
Council rates
Official, 2026-27 Stonnington rates
$1,687
Water & sewerage
Official, 2026-27 South East Water
$1,514
Driving commute
Modelled, 2026-27 ATO 91c/km · 3.7km from CBD · 192 days
$1,228
Home insurance
Estimated flood Medium · fire Low
$1,850
Owners corporation
Estimated
$3,500
Total annual running cost
$6,279
($523/month, $121/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).
Cheaper to run than 95% of Stonnington 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 South Yarra'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 South Yarra
within a 2 km walk
Nearest stop
South Yarra, 80 m away, about a minute on foot. It is a train stop.
Nearest hospital
Alfred Hospital, 1,196 m away, about a 15 minute walk.
Supermarkets
17
Cafes
104
Parks
70
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 South Yarra to the CBD?
Driving saves South Yarra residents $995 per year. Annual commute cost by car is $1,228 versus $2,223 by public transport using a yearly myki Pass at the 2026 standard full fare.
What are the council rates in South Yarra?
South Yarra falls under Stonnington City Council. The average residential rate for 2026-27 is $1,687 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 South Yarra?
Running a unit in South Yarra costs approximately $8,299 per year by car or $9,294 by public transport. This includes council rates of $1,687, water and sewerage $1,514, estimated owners corporation levy of $3,500, and contents insurance of $370. Owners corporation fees vary significantly between buildings. Always confirm the actual levy before purchasing.
Is South Yarra close to public transport?
The nearest scheduled service to the centre of South Yarra is South Yarra, a train stop about 80 m away, about a minute on foot. 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 South Yarra?
The closest hospital to the centre of South Yarra is Alfred Hospital, about 1,196 m away, about a 15 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 South Yarra?
Within a 2 km walk of the centre of South Yarra there are 17 supermarkets, 104 cafes and 70 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: Stonnington 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.