Can a Psychologist afford to live in Melbourne?

Excellent46% of take-home left to save — you can save aggressively here.
Median salary (gross)
Psychologist · Melbourne
$107,284
Income tax (~28% effective)
Australia
– $30,212
Take-home pay
$6,423/mo
$77,072
Living costs (1 person)
$3,500/mo · derived
– $42,000
Savings potential
$2,923/mo · 46% of take-home
$35,072

Single professional, after-tax. Salary − tax − living costs = what you could save each year.

Full salary breakdown →Is this a good salary in Melbourne? →Compare Melbourne with another city →

How we calculated this

• Salary: OECD 2024 median for Psychologist, adjusted for Melbourne.

• Tax: Australia single-filer effective rate (~28%). Official calculator.

• Living costs: derived from cost-of-living index for a single professional.

Planning estimates, not financial or tax advice. Updated 2026. Your situation will differ.