Island in Queensland, Australia

Cost of living in Magnetic Island

Updated October 2026Sources

How much a month costs in Magnetic Island

For one person, including rent. A comfortable month costs about $2,780–3,820 (A$4,000–5,500).

Lean$1,740–2,220A$2,500–3,200 · Room or studio, local food

Comfortable$2,780–3,820A$4,000–5,500 · 1-bed apartment, eating out daily

Luxury$5,210–7,650A$7,500–11,000 · Upscale apartment, restaurants, taxis

Prices in Magnetic Island

Typical 2026 ranges in AUD, rounded. US$ at the 03 Oct 2026 exchange rate.

Item	AUD	US$
Housing
1-bedroom apartment, center (month)	A$1,300–2,000	$904–1,390
1-bedroom apartment, outside center (month)	A$1,100–1,700	$765–1,180
Hostel dorm bed (night)	A$35–55	$24–38
Mid-range hotel room (night)	A$160–300	$111–209
Food and drink
Local meal or street food	A$15–25	$10.4–17.4
Mid-range restaurant, per person	A$32–52	$22–36
Cappuccino	A$4–6	$2.8–4.2
Local beer, 0.5 l in a bar	A$9–13	$6.3–9.0
Getting around
Public transport, one ride	A$1	$0.70
Work and life
Mobile data, 20–50 GB (month)	A$30–50	$21–35

Value for money: 32/100

A value score of 32/100 means Magnetic Island gives more quality of life per dollar than 31% of the 1,319 places we cover. Quality here scores 92/100. It's the 6th most affordable of 28 places we cover in Australia.

Quality factor	Score
Safety	100
Air quality	99
Internet	73
Healthcare	100
Weather	83
Friendly locals	75
English	100

Cost of living across Australia

One person, comfortable lifestyle, including rent.

Place	Comfortable month	Value
Cairns	$2,640–3,610	27/100
Adelaide	$2,640–3,610	28/100
Whitsundays	$2,640–3,610	29/100
K'gari	$2,640–3,610	30/100
Launceston	$2,780–3,750	29/100
Hobart	$2,780–3,820	27/100
Magnetic Island	$2,780–3,820	32/100
Great Ocean Road	$2,920–4,030	23/100
Blue Mountains	$2,990–4,170	24/100
Gold Coast	$3,060–4,170	20/100
Perth	$3,060–4,310	18/100
Brisbane	$3,130–4,310	18/100
Newcastle	$3,130–4,310	16/100
Melbourne	$3,340–4,520	13/100
Byron Bay	$3,340–4,520	15/100
Darwin	$3,340–4,520	13/100
Sunshine Coast	$3,340–4,520	19/100
Fremantle	$3,340–4,520	15/100
Canberra	$3,340–4,520	16/100
Margaret River	$3,340–4,520	18/100
Alice Springs	$3,340–4,520	9/100
Port Douglas	$3,480–4,730	15/100
Noosa	$3,480–4,870	15/100
Broome	$3,610–4,870	9/100
Sydney	$3,820–5,210	8/100
Uluru	$3,820–5,560	6/100
Manly	$4,030–5,420	7/100
Bondi Beach	$4,170–5,560	6/100

Cheaper alternatives to Magnetic Island

Similar safety, lower cost, in Oceania.

Place	Country	Comfortable month
Rotorua	New Zealand	$1,960–2,690
Taupo	New Zealand	$1,960–2,690
Bay of Islands	New Zealand	$2,020–2,810
Christchurch	New Zealand	$2,130–2,810
Wellington	New Zealand	$2,360–3,090

Quick answers

How much money do you need per month in Magnetic Island?

About $1,740–2,220 on a lean budget, $2,780–3,820 for a comfortable month and $5,210–7,650 for a luxury one, rent included.

How much is rent in Magnetic Island?

A furnished 1-bedroom apartment costs A$1,300–2,000 ($904–1,390) a month in the center and A$1,100–1,700 ($765–1,180) outside it.

How much does food cost in Magnetic Island?

A local meal is A$15–25 ($10.4–17.4); a mid-range restaurant is A$32–52 ($22–36) per person.

Is Australia expensive?

Prices in Australia are about 90% of US price levels (World Bank PPP).

More about Magnetic Island

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Sources

Prices are SoloSquare estimates for 2026, reviewed against official and operator prices where available. Compiled and reviewed by SoloSquare. How we compile and score this. Spotted something out of date? Tell us.