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12 Aug, 2020

Cheapest Suburbs to Buy and Rent in Melbourne

Melbourne is the second-most populous city in Australia. Every year, hundreds and thousands of people move to the capital city of Victoria in search of better job opportunities, higher education and health facilities. However, all these people face a common problem, and that is expensive accommodation. The average median house price in Melbourne is $834,000, while the median rent is $430 per week.

Although the accommodation price in this city remains on the higher side, there are a few options where the price and rent are quite low. If you are also planning to move to this city and want to save money, you should know about these places. You can further save money by hiring cheap removalists in Melbourne and by moving minimum belongings. Here is a list of cheapest suburbs to buy and rent in Melbourne. Let’s have a look!

Melton

If you are planning to move to Melbourne and look for a cheap suburb that can fulfil all the essential requirements, Melton is a great option! A lot of families prefer this place because it offers a lower cost of living, excellent schools, public transport, shopping centres and so on. The population of this suburb is around 8500 and 64.80% of families have kids.

The median house price in Melton is only $385k while the rent is $320 per week. If you move to this place, there are numerous places to visit, such as Royal Botanic Gardens Victoria, Dandenong Ranges National Park, SEA LIFE Melbourne Aquarium, etc. These places are not far from this suburb.

Werribee

Werribee is another great option when it comes to the cheapest suburbs to buy and rent in Melbourne. It offers privacy, peaceful environment, low crime rate and greenery. This suburb has more than 40k people, and 68% of the families live with children. The median house price in this suburb is only $510k, and if you want to move to a rental property then, you will pay $365 per week.

Do your research properly and hire reliable removalists in Melbourne to relocate in a hassle-free manner. National Gallery of Victoria, Australian Sports Museum, Queen Victoria Gardens and many such amazing places are hardly 30 minutes drive.

Rockbank

Rockbank is a family-friendly and cheap suburb in Melbourne. The overall population here is around 2000, and more than 62% of the families live with their children. Whether you want to purchase a property or live in rental property, Rockbank has numerous options! It is a clean and green suburb that has a peaceful environment, Neighbourly Spirit and many restaurants.

The median house price here is $472k, and the median rent is $360 per week. To get a suitable house, you need to study the market properly. So, spend time doing research and visiting such places. Contact experienced Removals Company in Melbourne to pack and move your belongings.

Coolaroo

As this suburb is only 18 kilometres away from Melbourne CBD, this is an ideal place for those people who are looking for a place that offers cheap accommodation and also easy access to the CBD. It has more than 3000 residents, and 77% of the families have children.

The median house price in Coolaroo is only $442k while the median rent $370 per week. If you have small kids, then this suburb is highly recommended for you. It is great childcare, medical facilities, minimum traffic, low cost of living and so on. Relocation with kids can be difficult and stressful, so it is advisable to hire cheap removalists in Melbourne.

Craigieburn

Craigieburn is one of the highly populated suburbs in Melbourne. At the moment, it has a population above 50,000, and 75% of the households have children. It has a massive demand among people because it is one of the cheapest suburbs to purchase a house as well as rent. The median house price in this suburb is $536k, and the median rent is $410 per week. It has developed as a vibrant and popular place in Melbourne.

Shopping centres, sports centres and other similar developments take place from time to time. Popular spots like Melbourne Zoo, Queen Victoria Market, Federation Square and Royal Botanic Gardens are not that far from this suburb.

Dandenong

Dandenong is another popular suburb in Melbourne that attracts people from all over the country. It is because this place offers it offers all kind of facilities to its people, and the price is quite cheap. The median house price is $610k, whereas the median rent is $380 per week.

That is the reason why 55% of the families live here in rental property. The overall population is more than 30k, and 68% of the families have children. If you move here, you can spend your weekend visiting excellent places like the National Gallery of Victoria, Melbourne Zoo, Yarra River Cruise and many more.

Hoppers Crossing

The Hoppers Crossing is a beautiful and one of the most affordable suburbs in Melbourne with a population above 39,000. It is considered an ideal place to move with your children because it offers safety, peaceful environment, privacy, low cost of living, good neighbourhood and affordable accommodation.

Thus, 70% of the families live here have children. The median house price of this suburb is $530k, and if you want to move in a rental property, you will have to pay around $365 per week. If you are planning to move with the kids, it is better to contact reliable removalists in Melbourne and get the job done perfectly.

Millgrove

If you want to stay close to nature and live a relaxed lifestyle without spending a lot of money, Millgrove is the best option for you. It is a small suburb in Melbourne with a population of 2000 people but offers all essential amenities to the residents.

This beautiful suburb offer security, peaceful environment, privacy but most importantly, a lot of greenery. It has 13 parks which cover around 24.6% of the total suburb area. Although the predominant age group here is 50-59 years, a lot of families also stay here. The median house price in Millgrove is $425k, while the median rent is $320 per week.

Tarneit

Tarneit has emerged as a popular choice for the buyers because of its new railway station, extensive local bus network, top class private and state schools and easy access to the shopping centre in Werribee. It also offers affordable accommodation to its people. The median house price here is $550k, so you can purchase a new home within your budget.

If you want to stay on rent, the median house rent is $410 per week. The total population is more than 35k, and 76% of the families have children. Spend sufficient time in your research so you can find a suitable home. And to ensure a smooth relocation, hire removalists in Melbourne. After moving here, you can visit popular places like Melbourne Zoo, National Gallery of Victoria, Royal Botanic Gardens, etc. on weekends and spend quality time with your family.

The Bottom Line

Many people face the dilemma at the time of moving that whether they should buy a new house or live in a rental property. Experts believe that living in a rental property is always beneficial, particularly if you are moving from another city. You get a chance to understand your requirement and your budget in a better way. However, whether you decide to purchase or rent a property, consider the cheapest suburbs mentioned above.