Melbourne vs Seoul
Home Price & Cost of Living Comparison
Live DataLast updated: March 31, 2026·Source: OECD, Numbeo & National Statistics
💡 Why it matters: Melbourne vs Seoul
Seoul is 15% more affordable for homebuyers. Melbourne has a price-to-income ratio of 9.2x compared to 15.2x in Seoul.
| Metric | Melbourne | Seoul |
|---|---|---|
| Avg Home Price | $680,000 | $580,000 |
| Price / sqm | $8,500 | $12,000 |
| Rent (1BR) | $2,200/mo | $1,000/mo |
| Rent (3BR) | $3,200/mo | $2,000/mo |
| Price-to-Income | 9.2x | 15.2x |
| Mortgage Rate | 6.2% | 3.8% |
| 1yr Change | +3.2% | -1.2% |
| Median Income | $74,000/yr | $38,000/yr |
| Population | 5,100,000 | 9,700,000 |
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HomePricePeek Research TeamData Specialists
Our team analyzes data from OECD, Numbeo & National Statistics to deliver accurate, up-to-date information. All data is verified and cross-referenced with official sources.
✓ OECD, Numbeo & National Statistics✓ Updated 2025
Frequently Asked Questions
Is Melbourne or Seoul more expensive?
Seoul is more affordable. Home prices differ by $100,000 (15%).
Which city has cheaper rent, Melbourne or Seoul?
Rent for a 1BR in Melbourne is $2,200/mo vs $1,000/mo in Seoul.
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