If you’re finishing at RMIT and looking at where in Melbourne your first salary actually lets you live, this is the 2026 reality check. Median graduate salaries by industry, realistic rent ranges by suburb, and the savings rate that’s actually achievable.
The Australian Bureau of Statistics’ graduate-salary data (Survey of Education and Work, 2024–2025 release) puts median graduate starting salaries at:
- Engineering, IT, finance — $65,000–$78,000
- Health (nursing, allied health) — $58,000–$72,000
- Law (junior associate) — $70,000–$95,000 (top-tier firms)
- Teaching — $74,000–$80,000 (Victorian government schools, EBA-set)
- Arts, humanities, social science — $52,000–$62,000
- Business and commerce — $58,000–$72,000
After tax in 2026, $65,000 gross is roughly $54,200 net = $1,043 per week in the bank. A $80,000 salary nets to around $63,400, or $1,219/week. The marginal rate kicks in around $135,000 (37% above that threshold), so high earners feel the gap.
What $1,000–$1,100 Per Week Actually Buys
The honest budget for a graduate earning around $65k:
- Rent (33% rule) — up to $345/week
- Bills, groceries, transport — $250–$300/week
- Saving and discretionary — $400–$450/week
A $345/week rent budget in Melbourne 2026 buys:
- A studio or 1-bedroom in North Melbourne (older blocks), Brunswick, Brunswick West — yes
- A 1-bedroom apartment in inner suburbs (Fitzroy, Brunswick, Richmond, Carlton) — at the low end of the range, possibly
- A share-house room in any inner suburb — comfortably
- A 1-bedroom in Melbourne CBD apartments, Carlton proper — no; rent here runs $500–$700+/week
Most RMIT graduates spend their first 1–2 working years sharing — both for the rent saving and for the social structure. Solo living becomes feasible around the 3-year mark when salary growth has caught up.
The Industry Bands
Higher-earning industries open more suburbs:
- $60–$70k — share-house anywhere; 1-bed in cheap inner suburbs only
- $75–$85k — 1-bed inner-suburb fair territory
- $90–$110k (law, senior IT) — 1-bed in any inner suburb except the most expensive
- $110k+ (rare graduate roles) — 1-bed in Melbourne CBD apartments, Carlton proper achievable
The big variable is HECS-HELP repayments. From the 2026 financial year, HECS repayment thresholds start at around $54,000 with rising rates above. A $65k graduate pays around 4.5% of gross income to HECS — about $55/week, which substantially affects the rent budget.
The Suburb Rent Reality
Realistic 1-bedroom rents for 2026:
- North Melbourne (older blocks), Brunswick, Brunswick West — $380–$520/week
- Brunswick, Coburg, Northcote, Thornbury (north) — $420–$580/week
- Fitzroy, Carlton, Collingwood, Richmond (inner-east/north) — $480–$620/week
- South Yarra, Prahran, Windsor, St Kilda (inner-south) — $480–$650/week
- Toorak, Hawthorn, Kew, Malvern (premium inner-east) — $550–$800/week
Sharing a 2-bedroom drops the per-person rent by 35–50% — sometimes more if the place has 3 bedrooms.
The Saving Rate
If a RMIT graduate on $65k saves 15% of net income (around $160/week, or $8,300/year), they hit a 5% deposit on a $500,000 property in around 6 years — assuming no salary growth, no parental help, and no other major expenses. With salary growth (typical 3–5% annual through the first five years post-graduation), the timeline tightens to 4–5 years.
The catch: a $500k property in inner Melbourne in 2026 buys a 1-bedroom apartment in a middle-ring suburb. Standalone houses in inner suburbs run $1m+. The realistic first-property pathway for most RMIT graduates: a 1-bedroom apartment as a first stepping-stone, sold to upgrade after 5–8 years.
The Honest Trade-Offs
The decisions RMIT graduates make in their first three years that compound:
- Rent vs save — every $50/week extra on rent is $2,600/year less on a deposit
- Living alone vs share — sharing typically saves $150–$250/week
- Inner-city vs middle-ring — middle-ring saves $100–$200/week but adds 30–60 minutes daily commute
The best math is usually: share in an inner suburb for years 1–2, save aggressively, transition to solo or partnered living in years 3+ once salary growth has compounded.
How HECS Affects the Math
A subtle factor most graduates underestimate: the HECS-HELP repayment kicks in at $54,435 (2026 threshold) at 1% of gross income, rising to 10% at $147,000+. For an RMIT graduate earning $65,000 gross, the repayment is around 4–4.5% of gross — roughly $55–$60 per week — which substantially affects the rent-and-savings math.
A graduate with a $50,000 HECS debt who lives below the threshold for a full year (rare) doesn’t repay; once you cross, the repayment is automatic through PAYG.
Budgeting for Year 1 Out of Uni
The first year out of university is the critical year for establishing financial habits. The patterns that compound positively:
- Continue the student-rent share-house — keep the rent at $260/week for the first 6–12 months even if you can afford more
- Maximise super contributions through salary sacrifice — a 5% salary sacrifice on $65k is $3,250/year going into super, with a tax saving of around $750
- Build a 3-month emergency fund first — about $12,000–$15,000 in cash before any property savings begin
- Keep one cheap car or no car — a graduate buying a $30k car immediately wipes out two years of savings discipline
The honest advice: live like a student for one more year after graduation. The compounding effect on long-term savings is large.
What This Means for You
A RMIT graduate earning the typical $58–$78k starting salary can afford to live solo in North Melbourne (older blocks), Brunswick, Brunswick West, share in any inner suburb, and save toward a deposit on a 4–6 year horizon. The math doesn’t work for solo living in Melbourne CBD apartments, Carlton proper — share or move further out.
For more, see share houses near RMIT and the commute-time guide for RMIT.
Jack Carver writes about Melbourne for MELBZ.
