Southbank is a vibrant inner-city suburb located just south of Melbourneās CBD, along the Yarra River. Known for its high-rise apartments, arts precinct, and riverside lifestyle, Southbank is one of the most sought-after locations for renters who prioritise convenience and city living.
With its close proximity to the CBD and major cultural landmarks, Southbank attracts young professionals, students, and newcomers looking for a dynamic urban environment.
Average Rent Prices (2026)
Studio: $420 to $500 per week
1 bedroom: $500 to $650 per week
2 bedroom: $650 to $800 per week
Share house: $250 to $350 per week
What the Suburb Offers
Transport and Location
Southbank is within walking distance to Melbourneās CBD and is well-connected by tram routes. Flinders Street Station is easily accessible, providing train connections across Melbourne.
Amenities and Convenience
The suburb offers a wide range of amenities, including supermarkets, gyms, cafes, and restaurants. Residents also benefit from close access to the South Melbourne Market and Crown entertainment complex.
Lifestyle and Vibe
Southbank is known for its lively and energetic atmosphere. The riverside promenade, arts venues, and dining options create a vibrant city lifestyle. It is ideal for those who enjoy being close to entertainment and cultural activities.
Community and Safety
The area is populated by a mix of professionals, students, and international residents. Due to its central location, Southbank remains active throughout the day and evening.
Education and Nearby Campuses
Southbank provides convenient access to major universities in Melbourne, including University of Melbourne and RMIT University, both accessible via tram or short commute.
Who Is This Suburb Best For?
- Young professionals working in the CBD
- International students
- Renters seeking city lifestyle
- New arrivals to Melbourne
Pros and Cons
Pros
- Walking distance to CBD
- Strong public transport access
- Vibrant lifestyle and entertainment options
- Modern apartment living
Cons
- Higher rental prices
- Busy and crowded at times
- Limited standalone housing
- Noise levels in certain areas
Tips for Renting in Southbank, VIC 3006
- Well-presented apartments are highly competitive
- Buildings with amenities (gym, concierge) attract strong demand
- Prepare documents in advance for faster applications
- Inspect properties early, as listings move quickly
Find My Home Tip
Southbank is a high-demand suburb where applications are often reviewed quickly. In competitive environments like this, renters are assessed not only on affordability but also on how clearly and professionally their application is presented. A well-prepared application can help you stand out when multiple applicants are being considered at the same time.
Looking to rent in Southbank?
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Disclaimer: Rental prices are estimates based on publicly available listings as of 2026 and may vary. Availability and approval are not guaranteed. Find My Home provides application support and guidance but does not act as a licensed real estate agent or guarantee housing.