Cost of Living in Bankstown,Australia in 2023
The cost of living in Bankstown can vary depending on the location and lifestyle of the individual or family. However, Bankstown is considered to have a relatively high cost of living compared to other countries.
The cost of living in Bankstown,Australia in 2023 is affected by:
Housing in Bankstown
The cost of housing in Bankstown is quite high, especially in popular neighborhoods. Rent and mortgage payments can be expensive, and the cost of buying a home in Bankstown can also be high. However, the cost of housing is more affordable in smaller neighborhoods on the outskirts of Bankstown. The map below shows the areas around Bankstown that are more affordable.
Groceries Cost in Bankstown
Prices for basic items such as bread, milk, and eggs in Bankstown are consistent throughout the country.
The cost of transportation in Bankstown can vary depending on the mode of transportation used. Public transportation is generally more affordable than owning and maintaining a car, but it may not be as convenient in some areas of Bankstown.
Healthcare in Bankstown
The cost of medical care in Bankstown is high when compared to other countries. Bankstown has a universal healthcare system called Medicare, which provides affordable access to medical services for all citizens and some permanent residents. However, some services may not be covered by Medicare. Under the Medicare system, most basic medical services, such as doctor visits and hospital care in Bankstown are covered by the government, and patients are only required to pay a small fee for each visit, called the Medicare Levy.
Some medical services are not covered by Medicare in Bankstown and can be expensive. For example, dental care and most prescription drugs are not covered and patients may need to pay for these services out of pocket. Additionally, some specialists may charge more than the Medicare rate.
The local taxes in Bankstown are relatively high, which can affect the overall cost of living. At a Federal level, Australia has a progressive income tax system, and sales tax (GST) of 10% is also applied to most goods and services.
Entertainment and leisure in Bankstown
The cost of entertainment and leisure activities in Bankstown,Australia such as going to the movies or dining out can be expensive compared to other Towns and Cities in the State, while others activities such as visiting national parks is still free in 2023.