Rent Calculator Victoria

This calculator converts weekly rent to monthly using the official Consumer Affairs Victoria formula, checks rent against the 30% affordability benchmark, calculates the impact of a rent increase, and estimates the bond amount. Updated for the November 2025 rental law changes, including the new 90-day notice period for rent increases.

How to convert weekly rent to monthly in Victoria

The most common rent mistake in Australia is multiplying weekly rent by 4. This gives you only 28 days — not a full calendar month.

The correct formula, used by Consumer Affairs Victoria, is:

Monthly rent = Weekly rent / 7 x 365 / 12

This works out to a multiplier of approximately 4.34524 (365 divided by 12, divided by 7). The formula uses 365 days regardless of leap years.

Worked example

At the Melbourne metro median rent of $570 per week:

• Correct monthly rent: $570 / 7 x 365 / 12 = $2,476.79
• Wrong method (x 4): $570 x 4 = $2,280.00
• Difference: $196.79 per month, or $2,361.43 per year

If you are budgeting using “weekly times four”, you are underestimating your annual rent by nearly $2,400. This matters when comparing rent to mortgage repayments, assessing affordability, or working out investment returns.

All conversion periods

Source: Consumer Affairs Victoria — Rent calculator, retrieved 17 Feb 2026.

The 30% affordability rule and housing stress

A widely used benchmark in housing policy is the “30% rule”: if more than 30% of your gross (before-tax) household income goes towards rent, you are considered to be in housing stress. According to the Australian Institute of Health and Welfare (AIHW), 26% of all Australian households currently exceed this threshold.

What income do you need for Melbourne rents?

If your rent exceeds 30% of your gross income, it does not necessarily mean you cannot afford it — the rule is a guideline, not a hard boundary. People with lower incomes feel the impact more acutely, while higher-income households may comfortably spend above 30% on housing. Use the calculator above to check your specific situation.

Victorian rent increase rules (updated November 2025)

How often and how much

• Frequency: Rent can only be increased once every 12 months for periodic (month-to-month) leases. For fixed-term leases, rent can only increase if the lease agreement specifies the amount or method of increase.
• Notice period: From 25 November 2025, landlords must give 90 days’ written notice of a rent increase. This was previously 60 days.
• No statutory cap: Victoria does not have a legislated rent cap. However, increases cannot be “excessive” compared to the general market level for similar properties in the area.
• Acceptable methods: CPI-linked increases, rent index adjustments, fixed percentage, or fixed dollar amount. A “market valuation” alone, without reference to comparable properties, is not considered a valid method.
• Challenging an increase: If you believe a rent increase is excessive, you can apply to VCAT (Victorian Civil and Administrative Tribunal) within 30 days of receiving the notice for a ruling on whether the increase is fair.

Source: Consumer Affairs Victoria — Rent increases, retrieved 17 Feb 2026.

Bond rules in Victoria

Bond (security deposit) in Victoria has specific rules that differ from some other states:

• Maximum bond: One month’s rent — calculated as weekly rent / 7 x 365 / 12. This is more than four weeks’ rent. At $570/week, bond is $2,476.79 (not $2,280.00).
• Exception for high rents: If the weekly rent exceeds $900, the landlord may negotiate a bond higher than one month’s rent.
• Lodgement: The landlord or agent must lodge the bond with the Residential Tenancies Bond Authority (RTBA) within 14 days of receiving it.
• Pet bond: From 2 September 2024, landlords can no longer charge a pet bond. Tenants can keep pets without the landlord’s consent in most circumstances, subject to reasonable conditions.

Source: Consumer Affairs Victoria — Bond amounts, retrieved 17 Feb 2026.

Victorian median rents (DFFH data)

The Victorian Department of Families, Fairness and Housing (DFFH) publishes quarterly rental reports with median rent data.

June Quarter 2025 medians

These figures represent the midpoint of all rents — half of properties rent for more, half for less. Median rents vary significantly by property type (houses vs units), number of bedrooms, and specific suburb.

Source: Housing Victoria — Rental costs in Victoria, retrieved 2 Apr 2026.

November 2025 rental law changes — what you need to know

Significant changes to Victorian rental laws took effect on 25 November 2025 (some provisions from 1 December 2025):

1. No-fault evictions banned. Landlords can no longer end a tenancy “without reason”. All notices to vacate must now state a valid ground (such as the landlord moving in, major renovations, or sale of the property with vacant possession required).
2. Rental bidding prohibited. Landlords and agents cannot invite, encourage, or accept rental offers above the advertised price. This applies to all new tenancy agreements.
3. 90-day rent increase notice. The notice period for rent increases has been extended from 60 to 90 days. This applies to all increases from 25 November 2025 onward.
4. Mandatory smoke alarm checks. Landlords must arrange annual checks of all smoke alarms in the property.

These changes apply to all residential tenancies in Victoria, including existing agreements.

Source: Consumer Affairs Victoria — New changes to the rental laws, retrieved 17 Feb 2026.

Rental yield for Victorian investors

For property investors, rental yield is a key metric for comparing investment returns. The gross rental yield is calculated as:

Gross rental yield = (Annual rent / Property value) x 100

Using the Melbourne median rent of $570/week and a property value of $750,000:

• Annual rent: $29,721.43
• Gross yield: 3.96%

Melbourne yields typically range from 3% to 4.5%, which is moderate by national standards. Regional Victoria often offers higher yields (4% to 6%) but may have lower capital growth potential.

Net yield — which subtracts expenses like council rates, insurance, management fees, repairs, and land tax — is always lower than gross yield. A property yielding 4% gross may yield only 2.5% to 3% net. Use our Rental Yield Calculator for a detailed net yield breakdown.

What this calculator assumes

• Uses the Consumer Affairs Victoria formula for all rent conversions (weekly / 7 x 365 / 12)
• Uses 365 days per year (not adjusted for leap years)
• Housing stress threshold is 30% of gross income (AIHW definition)
• Bond is calculated as one month’s rent (VIC standard)
• High rent threshold is $900/week (above which higher bonds may apply)
• Rental yield is gross only (does not subtract expenses)
• All amounts are in Australian dollars (AUD)

This calculator provides general information only. It is not legal advice. For tenancy disputes or specific legal questions, contact Consumer Affairs Victoria on 1300 558 181 or visit consumer.vic.gov.au.