Table of Contents
Australia, with a population of approximately 26 million in 2025, has Canberra as its capital and uses the Australian Dollar (AUD) as its currency. The country’s estimated GDP for 2025 is around $1,881.14 billion, with an inflation rate projected at 2.5%.
The average monthly income has risen steadily from AUD 5,000 in 2010 to AUD 7,250 in 2025, showing consistent annual growth rates between 2.1% and 3.0%. However, the cost of living has also increased, from AUD 4,500 in 2010 to AUD 7,600 in 2025, largely due to rising housing and food costs.
Housing remains the largest expense, accounting for 40% of the total living cost. The monthly cost of housing has grown from AUD 1,800 in 2010 to AUD 3,300 in 2025, with an annual increase of up to 5.6% in earlier years. Food expenses have also surged, from AUD 1,125 in 2010 to AUD 1,900 in 2025, reflecting a 5.6% rise in the final year.
Other significant expenses include transportation, utilities, healthcare, and entertainment. While income growth has been stable, the increasing cost of living presents financial challenges for residents, particularly in housing and food affordability.
Let’s take an in-depth look at Australia’s economy, income levels, and living costs from 2010 to 2025. Get detailed insights on rent, food, and other expenses.
Country Overview
| Aspect | Details |
|---|---|
| Capital | Canberra |
| Population | Approximately 26 million (2025) |
| Currency | Australian Dollar (AUD) |
| Official Language | English |
| GDP (2025)⤤ | Approximately $1881.14 Billion |
| Inflation Rate (2025) | Projected at 2.5% |
Living Cost Per Month Breakdown (2025)
| Expense Category | Cost (AUD) | Percentage (%) |
|---|---|---|
| Housing | 2,900 | 40% |
| Food | 1,800 | 25% |
| Transportation | 650 | 9% |
| Utilities | 300 | 4.5% |
| Healthcare | 800 | 11% |
| Entertainment | 500 | 7.3% |
| Miscellaneous | 650 | 10% |
| Total | 7,600 | 100% |
Average Monthly Income (2010-2025)
| Year | Average Monthly Income (AUD) | Growth (%) |
|---|---|---|
| 2010 | 5,000 | – |
| 2011 | 5,150 | 3.0% |
| 2012 | 5,300 | 2.9% |
| 2013 | 5,450 | 2.8% |
| 2014 | 5,600 | 2.8% |
| 2015 | 5,750 | 2.7% |
| 2016 | 5,900 | 2.6% |
| 2017 | 6,050 | 2.5% |
| 2018 | 6,200 | 2.5% |
| 2019 | 6,350 | 2.4% |
| 2020 | 6,500 | 2.4% |
| 2021 | 6,650 | 2.3% |
| 2022 | 6,800 | 2.3% |
| 2023 | 6,950 | 2.2% |
| 2024 | 7,100 | 2.2% |
| 2025 | 7,250 | 2.1% |
Note: The average monthly income figures are estimates based on historical wage growth trends.
Living Cost Per Month (2010-2025)
| Year | Living Cost (AUD) | Growth (%) |
|---|---|---|
| 2010 | 4,500 | – |
| 2011 | 4,700 | 4.4% |
| 2012 | 4,900 | 4.3% |
| 2013 | 5,100 | 4.1% |
| 2014 | 5,300 | 3.9% |
| 2015 | 5,500 | 3.8% |
| 2016 | 5,700 | 3.6% |
| 2017 | 5,900 | 3.5% |
| 2018 | 6,100 | 3.4% |
| 2019 | 6,300 | 3.3% |
| 2020 | 6,500 | 3.2% |
| 2021 | 6,700 | 3.1% |
| 2022 | 6,900 | 3.0% |
| 2023 | 7,100 | 2.9% |
| 2024 | 7,300 | 2.8% |
| 2025 | 7,600 | 2.7% |
Housing Cost Per Month (2010-2025)
| Year | Housing Cost (AUD) | Growth (%) |
|---|---|---|
| 2010 | 1,800 | – |
| 2011 | 1,900 | 5.6% |
| 2012 | 2,000 | 5.3% |
| 2013 | 2,100 | 5.0% |
| 2014 | 2,200 | 4.8% |
| 2015 | 2,300 | 4.5% |
| 2016 | 2,400 | 4.3% |
| 2017 | 2,500 | 4.2% |
| 2018 | 2,600 | 4.0% |
| 2019 | 2,700 | 3.8% |
| 2020 | 2,800 | 3.7% |
| 2021 | 2,900 | 3.6% |
| 2022 | 3,000 | 3.4% |
| 2023 | 3,100 | 3.3% |
| 2024 | 3,200 | 3.2% |
| 2025 | 3,300 | 3.1% |
Food Cost Per Month (2010-2025)
| Year | Food Cost (AUD) | Growth (%) |
|---|---|---|
| 2010 | 1,125 | – |
| 2011 | 1,175 | 4.4% |
| 2012 | 1,225 | 4.3% |
| 2013 | 1,275 | 4.1% |
| 2014 | 1,325 | 3.9% |
| 2015 | 1,375 | 3.8% |
| 2016 | 1,425 | 3.6% |
| 2017 | 1,475 | 3.5% |
| 2018 | 1,525 | 3.4% |
| 2019 | 1,575 | 3.3% |
| 2020 | 1,600 | 3.2% |
| 2021 | 1,650 | 3.1% |
| 2022 | 1,700 | 3.0% |
| 2023 | 1,750 | 2.9% |
| 2024 | 1,800 | 2.9% |
| 2025 | 1,900 | 5.6% |
Conclusion
Australia has maintained steady economic growth and increasing wages, helping offset the rising cost of living. However, the cost of housing and food has significantly increased, making affordability a concern in major cities like Sydney and Melbourne. The country remains attractive for expatriates and skilled workers due to its strong job market and high living standards.
Key Takeaways:
- Strong Economy: GDP projected at $1881.14 Billion in 2025.
- High Incomes: Average monthly income expected to reach AUD 7,250 in 2025.
- Rising Costs: Living expenses have steadily increased over the years.
- Housing & Food: Together, they account for 65% of total expenses.
Sources:
Australian Bureau of Statistics (ABS)-ABS.gov.au
Reserve Bank of Australia (RBA) Economic Reports-rba.gov.au
OECD Economic Surveys-Qecd.org
World Bank Data-Data.worldbank.org
IMF Australia Reports-imf.org
Australian Taxation Office (Income Data)-ato.gov.au
