Cost of Living Near Monash University Caulfield for Students (2026)
Understanding what it actually costs to live near Monash Caulfield in Caulfield is essential for budgeting your time at university. With 18,000 students on campus, the local economy is shaped by student demand – which keeps some costs competitive and drives others up.
This breakdown uses real price data for the Caulfield area as of early 2026. Every number here is based on typical local costs, not national averages. Melbourne is not Sydney and Caulfield is not Toorak – your costs will reflect where you actually live.
Rent
Rent is the largest single expense for every student. What you pay depends on how you choose to live:
| Housing type | Weekly cost | Monthly estimate |
|---|---|---|
| Share house room | $170-250/week | $736-1,083 |
| Studio apartment | $250-350/week | $1,083-1,516 |
| One-bedroom apartment | $300-400/week | $1,300-1,733 |
| PBSA (purpose-built student) | $300-450/week | $1,300-1,950 |
| On-campus residence | $350-550/week | $1,520-2,390 |
The realistic choice for most students: A share house room at $170-250/week. This is the most common arrangement for Monash Caulfield students and balances cost with livability.
Living in nearby Carnegie or Elsternwick can save $30-60 per week on rent compared to Caulfield itself, at the cost of a 10-20 minute commute.
Groceries
What you spend on groceries depends on where you shop and how you cook:
| Shopping method | Weekly cost | Monthly estimate |
|---|---|---|
| Aldi-focused shop | $50-70 | $217-304 |
| Coles/Woolworths | $70-100 | $304-434 |
| Market + Asian grocer | $40-60 | $174-260 |
| Mixed (market + supermarket) | $55-80 | $239-347 |
Tips to reduce grocery costs:
- Aldi for staples (milk, bread, pasta, rice, tinned goods). Quality is equivalent to the major brands.
- Fresh fruit and vegetables from markets when available. Prices are 20-40% below supermarket equivalents.
- Asian grocers for rice, noodles, tofu, sauces, and spices. Dramatically cheaper than Coles or Woolworths for these items.
- Batch cooking: prepare large quantities on Sunday and portion for the week. Reduces waste and the temptation to order delivery.
Transport
Public transport is the primary way Monash Caulfield students commute. Costs depend on your fare type and how often you travel:
| Fare type | Per trip (2-hour) | Daily cap | Weekly cap |
|---|---|---|---|
| Full fare | $5.30 | $10.60 | $53.00 |
| Concession | $2.65 | $5.30 | $26.50 |
Monthly transport estimate:
- Full-time student with concession Myki: $80-110/month (5 days/week commuting)
- Full fare: $160-220/month
- Cycling (no transport cost): $0/month (plus occasional maintenance)
Get your concession Myki. If you are a full-time domestic student, you are eligible for a concession card through your university. This halves your transport costs. Apply through the Monash Caulfield student portal before semester starts.
International students: you pay full fare unless your university has negotiated a concession arrangement. Check with Monash Caulfield’s student services.
Utilities
If you are in a share house or private rental, utilities are an additional cost on top of rent. PBSA and on-campus accommodation typically include utilities in the quoted rent.
| Utility | Weekly cost (share house) | Weekly cost (living alone) |
|---|---|---|
| Electricity + gas | $15-25 | $25-45 |
| Internet (share of plan) | $10-15 | $20-30 |
| Water | $5-8 | $8-12 |
| Total | $30-48 | $53-87 |
Monthly utilities estimate:
- Share house: $130-210/month
- Living alone: $230-380/month
Tips:
- Compare energy providers using the Victorian Government’s Energy Compare tool. Switching can save $200-400 per year.
- Internet: most students share an NBN plan. TPG, Superloop, and Aussie Broadband offer reliable plans at $60-80/month, split between 3-4 housemates.
Phone and Internet
| Service | Monthly cost |
|---|---|
| Mobile plan (student-suitable, 20-40GB) | $25-45 |
| Home internet (shared NBN, your portion) | $15-25 |
| Total | $40-70 |
Prepaid plans from Boost, Aldi Mobile, and Woolworths Mobile offer the best value in the $25-35/month range with 20-40GB data. Postpaid plans from Telstra, Optus, and Vodafone cost more but include international call allowances useful for international students.
Other Regular Costs
| Expense | Monthly cost |
|---|---|
| Health insurance (OSHC, international students) | $50-60 |
| Gym membership (campus gym, subsidised) | $20-35 |
| Textbooks and study materials | $30-80 (varies by course) |
| Personal care and clothing | $50-100 |
| Social and entertainment | $80-150 |
| Laundry (if no machine at home) | $20-30 |
Monthly Budget Summary
Here is what a realistic monthly budget looks like for a Monash Caulfield student living in Caulfield:
Budget Option: Share House + Careful Spending
| Category | Monthly cost |
|---|---|
| Rent (share house room) | $736-1,083 |
| Groceries (market + Aldi) | $180-260 |
| Transport (concession Myki) | $80-110 |
| Utilities (share of house) | $130-210 |
| Phone | $25-45 |
| Personal + social | $100-150 |
| TOTAL | $1,251-1,858 |
Moderate Option: Studio Apartment + Standard Spending
| Category | Monthly cost |
|---|---|
| Rent (studio apartment) | $1,083-1,516 |
| Groceries (mixed shopping) | $240-350 |
| Transport (concession Myki) | $80-110 |
| Utilities (solo) | $230-380 |
| Phone | $30-50 |
| Personal + social | $150-250 |
| TOTAL | $1,813-2,656 |
How to Make Your Money Last
- Track your spending. Use a budgeting app (Up Bank, Frollo, or even a spreadsheet) for the first month. Most students are surprised by where their money actually goes.
- Cook at home. This is the single biggest lever you have. Eating out adds $50-100 per week to your food costs compared to cooking.
- Get your concession card immediately. Transport savings compound fast – $26.50/week versus $53.00/week is $1,378 per year saved.
- Work part-time strategically. Most students work 10-20 hours per week. Hospitality, retail, and tutoring are the most common student jobs near Caulfield. Earn $250-500/week depending on hours and role.
- Use free university services. Monash Caulfield provides free counselling, medical services, legal advice, and financial hardship support. These exist because students need them – there is no stigma in using them.
- Apply for Centrelink if eligible. Youth Allowance, Austudy, and Rent Assistance can contribute $200-500/fortnight depending on your circumstances. Apply early – processing times can take weeks.
Data sourced from university websites, PTV, ABS Census 2021. Compiled April 2026. All costs are estimates based on typical Caulfield prices as of early 2026 and will vary based on individual circumstances.
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