Living in Southbank as a Student: The Complete Guide (2026)
Southbank (postcode 3006) is 1.5km from Melbourne’s CBD with a population of around 26,400. For students at University of Melbourne, RMIT, Southbank offers proximity to campus and city life.
Southbank is an established inner Melbourne suburb 1.5km from the CBD, with a population of approximately 26,400. The area combines residential streets with local commercial strips and is well-connected to the broader inner-city network.
This guide covers what you need to know about living in Southbank as a student – rent costs, transport options, where to eat cheaply, and what the social scene looks like.
Universities and TAFEs Near Southbank
The following campuses are accessible from Southbank:
- University of Melbourne
- RMIT
Commute times from Southbank to these campuses vary by mode of transport. Inner-suburb students can often walk or cycle to campus.
Rental Costs for Students
One-bedroom apartments in Southbank rent for approximately $402 per week. For most students, a share house is more realistic:
| Housing type | Weekly cost | Monthly estimate |
|---|---|---|
| Share house room | $222-302/week | $962-1,308/month |
| Studio apartment | $362-422/week | $1,568-1,828/month |
| 1-bedroom apartment | $402/week | $1,742/month |
Where to find share houses:
- Flatmates.com.au and Fairy Floss Real Estate (Facebook group) are the most active platforms
- University housing boards and student union noticeboards
- Inspect in person before paying any bond or signing a lease
Transport to Campus
Southbank has strong public transport connections including tram and train services. The suburb is 1.5km from the CBD, making commutes short by public transport or cycling.
Myki fares (full-time student concession):
- 2-hour fare: $2.65 (concession) / $5.30 (full)
- Daily cap: $5.30 (concession) / $10.60 (full)
- Weekly cap: $26.50 (concession) / $53.00 (full)
Apply for your concession Myki through your university portal before semester starts. The savings add up to $1,300+ per year compared to full fare.
Cycling: Southbank has cycling infrastructure connecting to the broader Melbourne bike network. For students living within 5km of campus, cycling is the fastest and cheapest commute option.
Budget Grocery Shopping
Keeping food costs down is essential on a student budget. In and around Southbank:
- Aldi is the budget leader – a weekly shop costs 15-25% less than Coles or Woolworths
- Asian grocers sell rice, noodles, tofu, and sauces at prices below supermarket equivalents
- Local markets (if available nearby) offer fresh produce at 20-40% below supermarket prices
- Meal prepping on Sundays can bring your weekly food spend down to $40-60
A realistic weekly food budget for a student in Southbank: $50-80 if cooking at home, $100-150 if eating out regularly.
Social Scene
Southbank is 1.5km from the CBD, which means the city’s bars, clubs, and live music venues are very accessible.
Within Southbank itself, the local scene includes pubs, cafes, and community events.
Safety
Southbank is a busy inner suburb with strong foot traffic on main streets. Standard Melbourne safety practices apply:
- Main commercial areas are well-lit
- Use well-lit, well-trafficked routes late at night
- The PTV app shows real-time transport options to avoid waiting alone at stops
- University security services operate around the clock at most campuses
Monthly Student Budget in Southbank
| Category | Budget option | Moderate option |
|---|---|---|
| Rent (share house) | $222/week ($962/mo) | $302/week ($1,308/mo) |
| Groceries | $50/week ($217/mo) | $80/week ($347/mo) |
| Transport (concession) | $26.50/week ($115/mo) | $26.50/week ($115/mo) |
| Utilities (share) | $30/week ($130/mo) | $40/week ($174/mo) |
| Phone | $30/mo | $45/mo |
| Social | $60/mo | $120/mo |
| Total | $1,514/mo | $2,109/mo |
Frequently Asked Questions
Is Southbank a good suburb for students?
Southbank is 1.5km from the CBD with direct transport links. Share house rent runs $222-302/week. For students who want inner-suburb access, Southbank is practical and well-connected.
How much does it cost to live in Southbank as a student?
A budget-conscious student in a share house can expect $1,514 to $2,109 per month, covering rent, food, transport, utilities, and basic social costs.
Data sourced from ABS Census 2021, Domain median prices, PTV fare information. Compiled April 2026. Rental prices are indicative and vary by property.