Rental Market Overview for Students in Melbourne

Melbourne is one of Australia’s leading student cities. With globally recognised universities, a diverse culture, and plenty of career opportunities, it attracts thousands of students every year. But the rental market can be challenging. Understanding rental costs, demand, and housing options helps students plan better and avoid stress.

Why Student Rentals Are in High Demand

Melbourne has a high student population made up of both local and international students. Universities such as the University of Melbourne, RMIT, and Monash are located near the city centre, which increases demand in surrounding suburbs.

Drivers of demand include:

• High international enrolments
• Desire to live close to campus
• Limited affordable accommodation options
• Lifestyle appeal of inner-city suburbs

Average Rental Prices for Students

Rental prices vary depending on the suburb and housing type.

Typical weekly costs:

• Shared housing or apartment: $200–$350
• Purpose-built student accommodation: $250–$400
• Private studio near campus: $400–$600

Inner-city suburbs like Carlton, Parkville, and the CBD are more expensive. Outer areas such as Brunswick, Footscray, and Preston can be more affordable, though they may involve a commute.

Challenges in the Student Rental Market

Students often face barriers that make renting harder than for other groups.

Common issues include:

• High competition during semester intakes
• Rising rental prices due to demand
• Shortage of furnished rentals
• Need for flexible lease terms
• Extra upfront costs such as bonds and utility connections

Tips for Students Renting in Melbourne

Students can make renting easier with some planning.

Practical strategies:

• Begin your search early, especially before the semester starts
• Consider house-sharing to reduce costs
• Explore suburbs with strong public transport access
• Budget for additional costs beyond rent
• Use reputable rental platforms and licensed agents

The Role of Off the Plan Properties

Melbourne’s property market continues to grow, and new off the plan apartments are being built near key university areas. These developments often include student-friendly features like study lounges, gyms, and shared community spaces. Families of international students also invest in these properties for long-term accommodation and capital growth.

How Coposit Supports Students and Families

Saving for a deposit can feel impossible for families who want to secure property near Melbourne’s universities. Coposit makes this achievable. With just $10k upfront and the rest paid in weekly instalments during construction, buyers can secure an off the plan apartment before the project is complete. This helps families provide stable housing for students while also building long-term investment value.

Student Rental Market in Melbourne

Melbourne offers world-class education and a thriving lifestyle, but its rental market is competitive and costly. Students should plan early, consider shared housing, and explore suburbs beyond the CBD. Off the plan properties provide long-term solutions for families, and with Coposit, buying near Melbourne’s universities is more affordable than ever.