As of 2026, Australia remains one of the most expensive countries in the world to live in, consistently ranking in the top tier for cost of living. The primary driver of this expense is the housing market, particularly in major cities like Sydney and Melbourne, where rent and property prices are among the highest globally. A single individual can expect to need roughly $20,000 to $25,000 AUD per year for basic living expenses excluding rent, while a family of four may require over $60,000 to $75,000 AUD. Groceries, utilities, and transportation are also notably higher than in many European or Asian nations. For example, a mid-range meal out can cost between $25 and $40 per person. However, these high costs are often balanced by higher-than-average wages and a robust minimum wage, which provides a high standard of living for many residents. Public services like healthcare (Medicare) and education are also high quality, though they may involve out-of-pocket costs for non-citizens. While regional areas offer more affordable housing, the overall cost of goods and services remains high due to the country's geographic isolation and logistical costs, making a well-planned budget essential for anyone moving to or living in the Land Down Under.