Top 10 Melbourne Accommodation Options For Every Budget

Melbourne is one of Australia’s most beloved cities, known for its rich culture, art, shopping, and coffee scene. Whether you're a backpacker seeking a central and affordable crash pad or a business traveller looking for luxury and convenience, Melbourne offers a wide range of accommodation to suit every type of traveller and budget.

Here's a curated list of the top 10 accommodation options in Melbourne, organized to cater to all spending levels—from budget-conscious guests to high-end explorers.

1. Space Hotel (Budget)

Location: Melbourne CBD
A hybrid between a hostel and hotel, Space Hotel is perfect for solo travellers and backpackers. It offers both dormitory beds and private rooms, complete with a gym, cinema, and a rooftop hot tub with panoramic views. The shared kitchen also helps guests save on food expenses.

2. The Village Melbourne (Budget)

Location: Franklin Street, Melbourne
A favorite among young travellers, this lively hostel is minutes away from Queen Victoria Market. It has a social vibe with nightly events, large communal areas, and basic but clean rooms. The price point makes it ideal for those exploring on a tight budget.

3. ibis Budget Melbourne CBD (Budget-Midrange)

Location: Elizabeth Street
If you’re seeking central location without the price tag, this budget hotel provides compact rooms with all the essentials. It's within walking distance of Federation Square, public transport, and numerous cafes and shops.

4. Pegasus Apart'Hotel (Midrange)

Location: William Street
This property blends hotel convenience with the flexibility of serviced apartments. Each room comes with a kitchenette, making it suitable for families or long-stay guests. There’s also a heated indoor pool and gym, and it's within a short walk of Flagstaff Gardens and Queen Victoria Market.

5. Corporate Keys – Furnished Apartments (Midrange to Executive)

Location: Multiple locations including Southbank, Docklands, and St Kilda Road
Corporate Keys offers fully furnished, spacious serviced apartments, ideal for extended stays or corporate travellers. These apartments are more affordable than traditional hotels when staying for more than a week and come with full kitchens, laundry facilities, and living areas—making them perfect for both business and leisure travellers.

6. Mantra Southbank (Midrange)

Location: Southbank
Just a short stroll from the National Gallery of Victoria and the Arts Centre, Mantra Southbank offers one- and two-bedroom apartments with kitchenettes and laundry. It’s a great choice for families or couples wanting extra space in a prime location.

7. The Jazz Corner Hotel (Midrange-Upper)

Location: Corner of William & A’Beckett Streets
This stylish hotel offers a musical twist—partnered with Bird’s Basement Jazz Club. Rooms are modern and spacious with kitchenettes, and the location is excellent for both business and cultural travel.

8. Art Series – The Larwill Studio (Upper-Midrange)

Location: Parkville
This art-centric boutique hotel near the Royal Melbourne Hospital is known for its colorful interiors and creative flair. Overlooking Royal Park, it’s ideal for travellers who prefer a peaceful location while staying close to Melbourne’s CBD.

9. The Langham, Melbourne (Luxury)

Location: Southbank Promenade
If indulgence is your goal, The Langham delivers with 5-star service, stunning river views, and award-winning spa and dining. It’s centrally located along the Yarra River and offers easy access to Melbourne’s cultural hotspots.

10. Crown Towers (Luxury)

Location: Southbank
The epitome of luxury, Crown Towers is part of the famous Crown Entertainment Complex. Guests enjoy spacious rooms, world-class restaurants, a day spa, designer shopping, and a glamorous pool area. It's a destination in itself for those willing to splurge.

Final Thoughts

Melbourne caters to all types of travellers and budgets. From affordable hostels and value-packed serviced apartments to premium luxury hotels with five-star amenities, this vibrant city ensures that every guest feels at home.

Whether you’re visiting for a weekend, relocating, or planning an extended work assignment, choosing the right accommodation will significantly enhance your experience. If you're after flexibility, space, and home-like comfort—furnished apartments in Melbourne like those offered by Corporate Keys may be your ideal fit.

Tip: Book early, especially during events like the Australian Open or Melbourne International Comedy Festival, when accommodations fill quickly and prices surge.