What each type of home costs
| Home | Median rent | On $60k | On $80k | On $100k | Salary for rent under 30% of pay |
|---|---|---|---|---|---|
| All homes | $650 | 67% | 53% | 44% | $113,000 |
| 1-bedroom unit | $380 | 39% | 31% | 26% | $66,000 |
| 2-bedroom unit | $540 | 56% | 44% | 36% | $94,000 |
| 3-bedroom house | $625 | 65% | 51% | 42% | $109,000 |
A common guide is that rent above 30% of your gross income is "rental stress". In Mornington Penin'a, keeping the median rent under that line takes a salary of about $113,000, or a combined household income of that much if you rent with someone.
Nearby areas in Greater Melbourne
| Area | Median rent | On $80k |
|---|---|---|
| Boroondara | $650 | 53% |
| Whitehorse | $650 | 53% |
| Port Phillip | $650 | 53% |
| Stonnington | $650 | 53% |
| Yarra | $660 | 54% |
| Glen Eira | $640 | 52% |
| Knox | $630 | 51% |
| Monash | $670 | 55% |
| Melbourne | $680 | 55% |
| Yarra Ranges | $620 | 51% |
Cheaper nearby: Glen Eira ($640), Knox ($630), Yarra Ranges ($620).
Based on 642 new leases in Mornington Penin'a in the June quarter 2026.
See your full take-home pay with the pay calculator, or compare rents across Victoria and NSW.
Rent data: Homes Victoria, Rental Report: quarterly median rents by local government area (June quarter 2026), CC BY 4.0 (DataVic), Homes Victoria (source). Median weekly rent for new leases. Take-home pay is our calculation with the ATO's 2026–27 withholding formulas.