Rental prices vary considerably in Melbourne. In order to choose the right housing option, you need to consider the cost of living in Melbourne, your budget and whether you require additional financial support.

Cost of living

Preparing your budget before choosing your housing is crucial, as what you can afford will directly influence where you can live.

Living on your own is generally more expensive. Usually the more people you live with, the cheaper it becomes. However you still need to consider whether living a large household would suit you.

Establishment costs

When moving house, you generally need to pay your first month's rent in advance plus the equivalent of one month's rent as bond. You may also need to pay for utilities connection, furniture and household goods.

Bond Loan Scheme

If it is difficult for you to arrange bond money, you can apply for an interest-free repayable Bond Loan from the Office of Housing, part of the State Government of Victoria's Department of Human Services.

Eligibility criteria apply and you must be a Permanent Resident of Australia. More information about the Bond Loan Scheme is available on the Office of Housing's website.

University of Melbourne students who are ineligible for the Bond Loan Scheme and who are in a difficult financial situation, may apply for a student loan through Student Financial Aid..

Student Housing Bursary

The Housing Bursary is administered through the Scholarships Office. It is part of the University of Melbourne's Access and Equity program.

Student Housing Bursaries provide financial support to students who live away from their usual home in order to study. The Grant aims to assist students from low socio-economic backgrounds and those who need to live away from home in order to attend University. Such students are typically from rural or interstate areas as well as those from outlying areas of Melbourne.