A study of the 20 most populated Australian cities has named Geelong as the third least affordable.
StandOut Resume data has broken down city affordability by comparing the net median salary to the amount spent on six basic life expenses: rent, electricity, gas, internet, public transport, and food.
Geelong has come out at the unfavourable end of the scale, named third least affordable behind Canberra in 2nd and the Gold Coast in the undesirable top spot.
The stats showed that of our net median salary of $47,547 (the second lowest in the study), 68.1% was being spent on the basics.
This left just $15,166 behind, still considerably more than the Gold Coast where locals are being left with just $10,127.
The study showing the annual spend on life expenses as follows:
- Rent- $21,446
- Electricity- $1,571
- Gas- $892
- Internet- $912
- Public transport- $2,184
- Food- $5,376
In news surprising to many, Melbourne was named as the fifth most affordable, with 59.9% of the median net salary put towards basics, with $24,078 remaining.
Wages stretched the furthest in Queensland’s Townsville, followed by Rockingham in WA and then Launceston down in Tassie.
