6 Surprisingly Affordable Places To Retire in Australia

bennymarty / Getty Images/iStockphoto

Commitment to Our Readers

GOBankingRates' editorial team is committed to bringing you unbiased reviews and information. We use data-driven methodologies to evaluate financial products and services - our reviews and ratings are not influenced by advertisers. You can read more about our editorial guidelines and our products and services review methodology.

20 Years
Helping You Live Richer

Reviewed
by Experts

Trusted by
Millions of Readers

When retirees think of affordable places to live overseas, Australia doesn’t always come to mind. While a beautiful country with an embarrassment of riches, much of the country is known for being expensive, particularly its most well-known city, Sydney. But there are actually many surprisingly affordable places to retire in Australia. Some may be better known than others but all have plenty to offer American retirees.

Here’s a look at how the cost of living in these Australian cities compares with living in Los Angeles, California, using data from Numbeo.

Hobart

• Overall prices vs. Los Angeles: 9.5% lower than Los Angeles 
• Cost of rent vs. Los Angeles: 49.7% lower than Los Angeles
• Cost of restaurants vs. Los Angeles: 28.3% lower than Los Angeles

Hobart is considered not just the most affordable capital city in all of Australia, but also among the safest. With rent essentially half the cost of Los Angeles, you can afford to live in a city capital without paying the price. In addition to a vibrant arts and culture scene, Hobart also has gorgeous beaches — a refrain that you’ll hear about many Australian cities if you are looking at retiring there.

Adelaide

• Overall prices vs. Los Angeles: 9.9% lower than Los Angeles
• Cost of rent vs. Los Angeles: 48.9% lower than Los Angeles
• Cost of restaurants vs. Los Angeles: 15.7% lower than Los Angeles

Although overall costs in Adelaide are only about 10% below those in Los Angeles, rent is where the city really shines. If that’s your major expense, moving to Adelaide could save you nearly half of your rental budget. In addition to being the festival capital in Australia, Adelaide also offers free public transportation, which helps keep costs lower and could be particularly important for seniors.

Darwin

• Overall prices vs. Los Angeles: Not enough data to calculate
• Cost of rent vs. Los Angeles: 37.3% lower than Los Angeles
• Cost of restaurants vs. Los Angeles: 11.4% lower than Los Angeles

Darwin is the capital of Australia’s Northern Territory and boasts the big-city amenities that come with a population of over 132,000. Described by some as the place where the Outback meets the city, Darwin boasts the best of both worlds, with natural beauty and parks right alongside the cultural and lifestyle benefits of a big city.

Perth

• Overall prices vs. Los Angeles: 14.2% lower than Los Angeles
• Cost of rent vs. Los Angeles: 46.5% lower than Los Angeles
• Cost of restaurants vs. Los Angeles: 27.2% lower than Los Angeles

Perth often gets overlooked because it’s one of the most remote major cities in the world, lying in the southwest corner of the Australian continent. But unlike its sister cities on the country’s east coast, the capital of Western Australia boasts abundant sunshine year-round, plentiful, less-crowded beaches and a lower cost of living.

Gold Coast

• Overall prices vs. Los Angeles: 20.2% lower than Los Angeles
• Cost of rent vs. Los Angeles: 41.7% lower than Los Angeles
• Cost of restaurants vs. Los Angeles: 33% lower than Los Angeles

The spectacularly named Gold Coast is one of the most affordable cities in Australia, despite its ample riches. In addition to the gorgeous beaches that seem to be everywhere in the country, the Gold Coast also boasts numerous national parks. The city is among the safest in the nation, is culturally diverse and is a good place to raise a family.

Sydney

• Overall prices vs. Los Angeles: 3.8% lower than Los Angeles
• Cost of rent vs. Los Angeles: 18.5% lower than Los Angeles
• Cost of restaurants vs. Los Angeles: 28.6% lower than Los Angeles

Surprise surprise, even “expensive” Sydney, Australia, actually has a lower cost of living than Los Angeles. While overall costs are neck-and-neck, it costs almost 20% less to rent in Sydney than in L.A., and eating out costs nearly one-third less. If you’re looking to live in a beach city that actually has warm water, you might prefer Sydney to Los Angeles, or any West Coast U.S. beach city for that matter. 

Share This Article: