Cost Of Living For a Couple in Sunshine Coast 2024

Average monthly spending for couples in Sunshine Coast

How much money does a couple need in a month to survive in Sunshine Coast?

Couples in Sunshine Coast spend around 6,600 AUD per month on average. Depending on the lifestyle, a couple can survive with a monthly budget as low as 2,200 AUD or as high as 35,000 AUD. Location and income are very important factors and have a huge influence on expenditure and budget.

Couple expenditure to income ratio in Sunshine Coast

Analysing the how affordable it is for couples to live in Sunshine Coast

One of the most definite ways to determine how affordable a place is measuring the ratio of expenses to salary. A high expense-to-income to ratio indicates a high cost-of-living index while a low expenditure-to-salary ratio means the place is affordable to live in. Couples usually spend a larger chunk of their income than other population groups. A typical and healthy expenditure percentage for a couple of four ranges between 70% to 80%.

Couples in Sunshine Coast spend around 73% of their monthly income. Some couples spend as low as 65% of their income while some as high as 81%.

How do couples spend their money in Sunshine Coast?

We asked thousands of couples about their spending habits and expenditure break down.

Housing and accomodation expenditure for couples

Couples in Sunshine Coast typically spend from 22% to 39% of their total monthly expenditure on housing with 29% being the average. The average monthly spend on housing is 2,200 AUD with expenditure ranging from 750 AUD to 12,000 AUD. This cost mainly goes for rent but it also includes other accommodation-related expenses.

Electricity, utilities, energy, water, internet, and mobile expenditure for couples

Utility expenditure like electricity, water, and gas in Sunshine Coast ranges from 4% to 10% of total expenses with 6% being the average for most couples. The average monthly cost of utilities is 300 AUD with 88 AUD and 1,900 AUD being the upper and lower limits for a couple of four.

Transport, fuel, and commute expenditure for couples

Fuel consumption and cost of transport depend heavily on whether a couple resides near school and work, but roughly speaking a couple would expect to spend from 260 AUD to 4,200 AUD in a month on commuting with 790 AUD being the norm for most couples. This means that money spent on transport constitutes about 10% of total spending on average but can go as low as 4% or as high as 15%.

Food, groceries, and basic shopping expenditure for couples

The average outlay on groceries and basic houshold items for a typical couple in a month in Sunshine Coast is 930 AUD. The cost of groceries can range between 310 AUD to 4,900 AUD. Couples spend on average about 16% on food and groceries with upper and lower bounds of 11% and 21% respectively.

Healthcare and medical services expenditure for couples

Couples in Sunshine Coast allocate 7% to 17% of their total monthly expenditure to healthcare including health insurance and out-of-pocket medical expenses. The average spending on medical services and clinic visits is around 13%. The range of medical expenses range from 240 AUD to 3,900 AUD with 730 AUD being the norm for most couples.

Leisure and shopping expenditure for couples

This category mostly contains discretionary or non-essential expenses but also some non-discretionary spending like furniture for example. The monthly expenses range from 130 AUD to 2,100 AUD with 400 AUD being the average. Speaking of percentages, that equates to 2% to 8% of total expenses with an average of 5% for most couples.

Education and schooling expenditure for couples

Spending on education can vary drastically between different couples. On average, education constitutes 2% of the monthly expenditure of couples with 1% and 4% being the lower and upper bounds respectively. The average reported education cost is 130 AUD per month with 44 AUD being the minimum spent amount and 710 AUD being the maximum.

What percentage of couples in Sunshine Coast are able to save money and how much can they save?

Percentage of couples that reported their ability to save money

Almost 64% of surveyed couples in Sunshine Coast said that they can save some money at the end of each month while 36% reported that they have to utilize their whole income to survive.

How much money do couples manage to add to their savings?

Saving to Income Ratio

Average Monthly Saved Amount

Savings to income distribution levels for couples

Interpretation and Analysis

Couples that are able to save money can put anywhere from 10% to 29% of their monthly income to their savings, with 19% being the average for most couples. The average monthly amount of money that couples can put aside is 2,700 AUD with 920 AUD and 15,000 AUD being the minimum and maximum respectively.

Saving Challenges in Sunshine Coast

Reasons that make it difficult for couples to save money

We wanted to understand what is stopping couples from maximizing their savings in Sunshine Coast. Listed below are the answers given by the survey participants.

Around 6% of the couples said that their salary is too low to accommodate a portion for savings while 9% said that the high cost of living leaves little room for savings. 17% of the residents said that they are burdened with debt and find it challenging to save money. 10% reported that they just don't have the knowledge or discipline to create and stick to a budget, leading to overspending and an inability to save. 10% of couples blamed impulsive spending as the reason for saving inability. Around 6% said that unexpected expenses like medical bills or car repairs are derailing their savings goals. 7% bluntly said that they don't see the purpose of it and prefer to live each day to the fullest. 17% reported that they understand the value of saving but are putting off saving for the future, thinking they have plenty of time to start later. 11% blamed inflation, saying that every time they save some money they end up using it immediately. A surprising 3% said that social pressure and keeping up with peers or social expectations makes them overspend. Lastly, 3% blamed market instability and price fluctuations.

Typical saving choices for couples in Sunshine Coast

Where do people choose to put their savings?

A typical and healthy budgeting structure

The 50/30/20 rule

Spending among different people can vary significantly based on factors such as their income, lifestyle, location, and personal preferences. A commonly used guideline for budgeting is the 50/30/20 rule, which suggests allocating your income into three main categories in the following percentages.

• 50% for needs and financial obligations

  This category includes essential expenses like housing, utilities, groceries, transportation, and healthcare.

• 30% for wants and discretionary spending

  This category covers discretionary spending on non-essential items, such as dining out, entertainment, travel, and other lifestyle choices.

• 20% for savings and emergency fund

  This is the percentage that must be allocated to savings, emergency funds, and retirement accounts.

About financial planning, money management, and household budgeting

Affordable living in Sunshine Coast

Income and cost of living compatibility

We asked couples one simple question and recorded their answers.

Is it affordable or economical to live in Sunshine Coast?

Around 72% of surveyed couples think that living in Sunshine Coast is affordable with proper budgeting while 28% reported that it is just too expensive and not affordable even with frugality and thriftness.

Low-cost alternatives in Sunshine Coast

People are always looking for ways to cut down expenses and reduce expenditures. The hallmark of any affordable place is the availability of discount stores, bargain deals, smart or secondhand shopping, refurbished items, and couponing. We asked couples how easily cost-cutting is and the answers were distributed as follows:

Plenty of low-cost options56%

Few low-cost options44%

Based on the survey, 56% of the couples living in Sunshine Coast have no problem finding low-cost alternatives to support a frugal lifestyle while 44% think that thriftness is difficult due to scarcity in discount markets and secondhand outlets.

Emergency Funds For Couples

An emergency fund is a financial safety net comprised of easily accessible savings set aside to cover unexpected expenses or financial emergencies, typically amounting to three to six months' worth of living expenses. We asked couples of Sunshine Coast whether they have an emergency fund and the answers were as follows.

Yes69%

No31%

Based on the survey, 31% of the couples living in Sunshine Coast said that they don't have an emergency fund while 69% said that they do.

Financial Literacy in Australia

Financial literacy is the knowledge of concepts and principles related to personal finance that allow individuals to make informed decisions regarding their money such as budgeting, saving, investing, borrowing, managing debt, financial risk management, and planning.

Financial Leteracy73%

We asked couple guardians and parents in Sunshine Coast whether they acquired any adequate personal financial training in their lives. Approximately 27% of the people who participated in the survey said that they are not well informed about the topics of budgeting, saving, etc., and just manage things based on their own experience, while 73% said that they know about the general principles of personal finance from sources other than their own experience.

Difficulty in Budgeting and Financial Planning

We wanted to understand whether couples of Australia have problems or difficulties in managing their expenditures and savings so we asked people one simple question: do you struggle with your personal finances? 27% of the participants reported that they indeed struggle in creating budgets and in organizing their finances while 73% said that they have everything under control.

Struggles with finance27%

Easily manages finances73%

Financial goals of couples in Sunshine Coast

In an attempt to understand the economic situation in Sunshine Coast, we asked participants about their financial targets. By knowing what the population in general is trying to achieve, we can shed light on the economic outlook, cost of living, and quality of life in general.

Around 7% of couples said that their main goal is to establish an emergency fund to cover unexpected expenses while 34% said their number one priority is to pay off high-interest debt or loans and improve credit. 8% of surveyed people confirmed that saving for retirement to ensure a comfortable lifestyle in the final years is their main target. Around 8% reported that their priority is saving for the tuition fees and education costs of their children while 17% choose to buy a home or pay off existing mortgage before other things. 8% of the population would like to build wealth through investments such as stocks, bonds, mutual funds, or real estate. For 10% of people, saving for vacations or upgrading their lifestyle is the number one concern. Approximately 10% of the residents said that saving for healthcare expenses including insurance premiums is their main goal.

Debt, loans, and mortgages in Sunshine Coast

Percentage of couples who are in debt

According to the survey, 26% of the couples in Sunshine Coast have some kind of debt, loan, mortgage, or credit card payments while 74% reported that they don't have financial obligations to banks.

Debt-to-income ratio in Sunshine Coast

Interpretation

The debt-to-income ratio measures the percentage of income being paid as debt settlement across the population. It is calculated by dividing the monthly debt settlement payment of an individual by their monthly income. Based on collected data, approximately 26% of a couple's monthly income in Sunshine Coast goes to debt settlement.

Debt levels

Monthly debt settlement payment as percentage of monthly income

According to our data, 3% of the debtors in Sunshine Coast pay 60%+ of their income as debt settlement while 12% of the people pay 50% to 60% of their income for the same, which is quite an alarming financial situation for those individuals. 12% of people in debt dedicate 40% to 50% of their income to loan and mortgage payments while 14% dedicated 30% to 40% of income for same. Things are looking brighter for 14% of individuals as they only pay 20% to 30% of their income for loan and credit card repayment.

Distribution by type of debt in Sunshine Coast

12% of debtors in Sunshine Coast confirm that real estate mortgages constitutes the main part of their outstanding debt while 26% say that credit card payments are the reason they are in debt. Auto loans were the main type of debt for 21% of people and personal loans rose at 37%. Lastly, student loans are the main source of debt for 3% of debtors in Sunshine Coast.

Good debt vs. Bad debt

Not all debt is bad. Good debt typically refers to borrowing money for investments that can increase in value or generate income over time like purchasing a home or acquiring student loans. On the other hand, bad debt involves borrowing for things that fail to generate lasting value like high-interest credit card debt used for non-essential expenses like luxury items or vacations.

Loan Affordability Index in Sunshine Coast

Besides measuring the loan-to-income ratio, we asked couples of Sunshine Coast how many times in a year they defaulted or were unable to pay their due credit card or loan payments on time. Understanding how often people default on their due payments is one of the indicators of the cost of living and economic situation.

Frequency and percentage of people who failed to pay their monthly credit card or loan payments on time last year.

Housing costs, accommodation, and housing affordability in Sunshine Coast

Rent Cost in Sunshine Coast

Monthly Rent Prices

Studio apartment monthly rent cost

520 AUD

780 AUD

2,100 AUD

MINIMUM

AVERAGE

MAXIMUM

$340

$510

$1,400

1-bedroom apartment monthly rent cost

780 AUD

1,200 AUD

3,100 AUD

MINIMUM

AVERAGE

MAXIMUM

$510

$810

$2,000

2-bedroom apartment monthly rent cost

1,000 AUD

1,600 AUD

4,200 AUD

MINIMUM

AVERAGE

MAXIMUM

$680

$1,000

$2,700

3-bedroom apartment monthly rent cost

1,200 AUD

2,100 AUD

5,700 AUD

MINIMUM

AVERAGE

MAXIMUM

$810

$1,400

$3,700

Furnished apartment monthly rent cost

2,500 AUD

6,200 AUD

12,000 AUD

MINIMUM

AVERAGE

MAXIMUM

$1,600

$4,100

$8,100

Townhouse monthly rent cost

2,100 AUD

3,100 AUD

8,900 AUD

MINIMUM

AVERAGE

MAXIMUM

$1,400

$2,000

$5,800

House monthly rent cost

2,500 AUD

6,200 AUD

12,000 AUD

MINIMUM

AVERAGE

MAXIMUM

$1,600

$4,100

$8,100

Villa monthly rent cost

3,100 AUD

7,800 AUD

12,000 AUD

MINIMUM

AVERAGE

MAXIMUM

$2,000

$5,100

$8,100

The monthly rental cost of a studio apartment in Sunshine Coast ranges between 520 AUD and 2,100 AUD, meanwhile the cost of monthly rental of a one-bedroom apartment can be anywhere from 780 AUD to 3,100 AUD. Two-bedroom rentals rate ranges between 1,000 AUD and 4,200 AUD per month. The monthly rental for a three-bedroom apartment ranges from 1,200 AUD to 5,700 AUD. The average rent of a townhouse in Sunshine Coast is around 3,100 AUD while house rental costs can be as high as 6,200 AUD per month. Finally, if you want to rent a villa, expect to pay anywhere from 3,100 AUD to 12,000 AUD per month.

Apartment and house prices in Sunshine Coast

Cost of buying a property

Studio apartment price

100,000 AUD

160,000 AUD

310,000 AUD

MINIMUM

AVERAGE

MAXIMUM

$68,000

$100,000

$200,000

1-bedroom apartment price

120,000 AUD

210,000 AUD

780,000 AUD

MINIMUM

AVERAGE

MAXIMUM

$81,000

$140,000

$510,000

2-bedroom apartment price

210,000 AUD

620,000 AUD

1.2M AUD

MINIMUM

AVERAGE

MAXIMUM

$140,000

$410,000

$810,000

3-bedroom apartment price

690,000 AUD

1M AUD

3.1M AUD

MINIMUM

AVERAGE

MAXIMUM

$450,000

$680,000

$2M

Townhouse price

890,000 AUD

2.1M AUD

7.8M AUD

MINIMUM

AVERAGE

MAXIMUM

$580,000

$1.4M

$5.1M

House price

1M AUD

6.2M AUD

8.9M AUD

MINIMUM

AVERAGE

MAXIMUM

$680,000

$4.1M

$5.8M

Villa price

1.2M AUD

6.9M AUD

10M AUD

MINIMUM

AVERAGE

MAXIMUM

$810,000

$4.5M

$6.8M

The average price of a studio apartment in Sunshine Coast can range from 100,000 AUD to 310,000 AUD depending on location. One bedroom cost can be anywhere from 120,000 AUD to 780,000 AUD. A villa can cost you 6.9M AUD on average with prices ranging from 1.2M AUD to 10M AUD.

House / apartment prices to income ratio

Property prices in Sunshine Coast can be x114 to x198 multiples of the monthly income depending on the property and the income of the person. On average, property prices are approximately x114 multiples of the average monthly salary in Sunshine Coast.

Rent to income ratio

The average rent-to-income ratio in Sunshine Coast is around 30%. This means that people pay 30% of their income for rent. Those figures can range from 20% to 39% depending on the salary, location, and type of property.

Housing affordability index

The housing affordability index measures how affordable accommodation is in a particular place. This can measured in multiple ways, the most common being housing expenditure to total expenditure ratio and the rent to income ratio. The housing expenditure ratio is a figure reported by individuals on the percentage they allocate for housing. Rent to income ratio is calculated by dividing the average monthly rent by the average income. Because these values are both percentages, we can find their average and get the best of the two worlds.

Property Taxes

Real estate owners pay property taxes to local tax authorities, which are determined by the assessed value of their property. Typically, these taxes are paid once a year. Property tax funds contribute to community development, financing infrastructure improvements, public services, and local education initiatives.

Home Maintenance Costs

Home maintenance costs encompass various expenses associated with the upkeep and repair of a residence. These expenditures include regular tasks such as lawn care, pest control, and HVAC system servicing, as well as occasional repairs and renovations like fixing leaks, painting, or replacing appliances.

Urban vs. rural living costs

Urban living typically entails higher housing and transportation costs due to demand and limited space, while rural areas generally offer lower housing expenses but may have higher prices for goods and services. The differnce in rental rates between urban areas and rural areas can be as high as 300% in some cases.

Monthly costs and expenses of energy and basic utilities in Sunshine Coast

Energy, electricity, water, gas, internet, and mobile cost in Sunshine Coast

Utility Bill Cost / Electricity + Water + Gas / Couple

88 AUD

300 AUD

1,900 AUD

MINIMUM

AVERAGE

MAXIMUM

$57

$190

$1,300

Internet and cable cost

33 AUD

66 AUD

89 AUD

MINIMUM

AVERAGE

MAXIMUM

$22

$43

$58

Mobile phone bill and charges

27 AUD

44 AUD

130 AUD

MINIMUM

AVERAGE

MAXIMUM

$17

$29

$86

The average monthly energy and water consumption of couples is around 300 AUD. The cost of internet and WiFi ranges from 33 AUD to 89 AUD with 66 AUD being the average internet bill. Finally, the average monthly mobile charges is around 44 AUD but can range between 27 AUD and 130 AUD depending on consumption. Mobile charges include both calling minutes as well as data packages.

Energy / Utility expense to income ratio

The average utility-to-income ratio in Sunshine Coast is around 4.6%. This means that people pay 4.6% of their income for energy, water, internet, and mobile charges. Those figures can range from 1.9% to 8.3% depending on salary and location.

Food Prices, Dining Expenses, and Grocery Costs in Sunshine Coast

Prices and cost of goods and services in Sunshine Coast

Dining out, food, and beverages costs. Price variations for common food items.

Fast food combo meal price

6.6 AUD

13 AUD

22 AUD

MINIMUM

AVERAGE

MAXIMUM

$4.3

$8.6

$14

The average price of a regular combo meal at a fast food outlet or chain like McDonald's, Pizzahut, or KFC in Sunshine Coast is approximatly 13 AUD with meal cost ranging from 6.6 AUD to 22 AUD. The typical combo meal consists of a burger, french fries, and a drink.

Restaurant meal for one price

21 AUD

32 AUD

64 AUD

MINIMUM

AVERAGE

MAXIMUM

$14

$21

$42

If you are planning to have a nice meal at a mid-range restaurant, expect to pay anywhere between 21 AUD and 64 AUD with 32 AUD being the average price of a plate for one person at a regular restaurant in Sunshine Coast.

Fine dining meal for one price

43 AUD

64 AUD

260 AUD

MINIMUM

AVERAGE

MAXIMUM

$28

$42

$170

The price range of a meal at fine-dining restaurant is 43 AUD to 260 AUD with the average cost being 64 AUD for one person. This is what you would expect to pay a top-tier diner in Sunshine Coast.

Beverage prices, cappuccino, latte etc..

5.5 AUD

8.9 AUD

13 AUD

MINIMUM

AVERAGE

MAXIMUM

$3.6

$5.8

$8.6

The average price of a regular beverage like cappuccino or latte at Starbucks, Costa, or similar coffee shops and cafes in Sunshine Coast is around 8.9 AUD. Price ranges between 5.5 AUD and 13 AUD depending on the type of beverage, the size, and optional add-ons.

Grocery and market costs

Large bottle of milk price

4.4 AUD

5.3 AUD

6.6 AUD

MINIMUM

AVERAGE

MAXIMUM

$2.9

$3.5

$4.3

The average price of a large bottle of milk in Sunshine Coast is 5.3 AUD. The maximum what you would pay for milk is 6.6 AUD and the minimum being 4.4 AUD depending on the brand of milk and other properties.

12 eggs price

3.3 AUD

4.4 AUD

6.6 AUD

MINIMUM

AVERAGE

MAXIMUM

$2.2

$2.9

$4.3

A dozen eggs costs around 4.4 AUD on average with 3.3 AUD and 6.6 AUD being the lower and upper limits respectively.

Fresh whole chicken price

7.6 AUD

9.8 AUD

14 AUD

MINIMUM

AVERAGE

MAXIMUM

$4.9

$6.3

$9

The price range of a fresh whole chicken in Sunshine Coast is between 7.6 AUD and 14 AUD depending on the size of the chicken and whether it is oraganic or not. The average price is approximatly 9.8 AUD.

Pack of beef price

8.9 AUD

13 AUD

27 AUD

MINIMUM

AVERAGE

MAXIMUM

$5.8

$8.6

$17

The price of a regular pack of beef or meat is around 13 AUD. A pack of beef contains around 1Kg or 1lb depending on packing.

Medium bag of rice price

3.6 AUD

4.9 AUD

6.9 AUD

MINIMUM

AVERAGE

MAXIMUM

$2.3

$3.2

$4.5

A bag of rice in Sunshine Coast costs around 4.9 AUD on average with prices rangeing between 3.6 AUD and 6.9 AUD depending on the brand and quality.

Bag of tomatos price

1.3 AUD

1.8 AUD

3.3 AUD

MINIMUM

AVERAGE

MAXIMUM

$0.86

$1.2

$2.2

A bag of tomatoes costs anywhere from 1.3 AUD to 3.3 AUD. A bag of tomatoes denotes 1Kg or 1lb depending on location.

Bag of apples price

2.4 AUD

3.1 AUD

5.1 AUD

MINIMUM

AVERAGE

MAXIMUM

$1.5

$2

$3.3

A bag of apples costs 3.1 AUD on average. A bag of apples denotes 1Kg or 1lb depending on location.

Grocery and food expenditure to income ratio

The average grocery-to-income ratio in Sunshine Coast is around 23%. This means that couples spend 23% of their income on grocery and basic household items. The expenditure can range from 16% to 29% depending on salary and location.

Expenditure on food and grocery for couples