Yahoo Finance 6 Surprisingly Affordable Places To Retire in Australia
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.
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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.
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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.
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