Best Cheap Steak Melbourne

Melbourne is full of fantastic restaurant choices. Here are some of the best cheap steak in melbourne.

best cheap steak melbourne
Porterhouse. Credit: canva

If that’s the case, then this article will be perfect for you. We’ve put together a list of the 10 best steak houses in Melbourne and all their delicious details.

Top 10 Best Steak Restaurants in Melbourne CBD

Rare Steakhouse (Downtown/Midtown/Uptown)

Rare Steakhouse is one of Melbourne’s finest steakhouses, serving up classic cuts from the grill paired with Australian wines. The warm brick walls make for a cozy experience that you’ll never forget.

  • Address:
    • Rare Steakhouse Downtown: 42-44 King St, Melbourne VIC 3000, Australia
    • Rare Steakhouse Midtown: 12 Goldie Pl, Melbourne VIC 3000, Australia
    • Rare Steakhouse Uptown: 6/61 Little Collins St, Melbourne VIC 3000, Australia
  • Pricing range: $$-$$$
  • Opening Hours: Sun – Mon (closed), Tue – Sat (12pm – 3pm, 5.30pm – 9.30pm)
  • Recommended menu: Eye fillet, Rib-eye on the bone, Porterhouse
  • Website:


“Went here with a couple friends a few weeks back. Literally the best steak I’ve ever had. Well worth it and the friendly staff make you feel very welcome. I’ll definitely be returning.” (Google Review)


Celebrated my birthday there since I’ve been wanting to have a good steak! The atmosphere is warm, intimate and relaxing. Staff was very nice! Good food too especially the ribs!!! Yummmmm” (Tripadvisor Review)

The Railway Club Hotel Steakhouse

The Railway Club Hotel is a one-of-a kind dining room in Melbourne. It’s been going for over 40 years and it features grass-fed beef with an upscale pub setting, plenty of polished wood decor to admire while you sit down by the fire place or on their outdoor patio near Swanston Street.

  • Address: 107 Raglan St, Port Melbourne VIC 3207, Australia
  • Pricing range: $$-$$$
  • Opening Hours: Sun – Sat (11am – 11pm)
  • Recommended menu: Porterhouse, Ribeye
  • Website:


“Simply one of the best steak place!

Ordered the wagyu porterhouse and i have 0 complaint. The service is top notch, the vibe is amazing, great selection of wine and steak!

Must try and will definitely come back again!” (Google Review)

“The steaks were delicious

The steaks were delicious as was the service. The wine list offered a favourite of ours that brought back fond memories of when we visited the Barossa. The meals were generous but obviously cooked to perfection and the accompaniments were equally delicious. The service was friendly and added to the experience. The only thing that was not to our linking were all of the large sports screening throughout the venue. Many thanks for wonderful evening.” (Tripadvisor Review)


The Meatmaiden is an offbeat basement restaurant that has a focus on grilled and smoked meat cuts, with craft beers and bourbon. It’s located in the heart of Melbourne CBD.

  • Address: 195 Little Collins St, Melbourne VIC 3000, Australia
  • Pricing range: $$-$$$
  • Opening Hours: Sun – Mon (closed), Tue – Wed (5pm – 10.30pm), Thur – Fri (12pm – 2.30pm, 5pm – 9.30pm), Sat (5pm – 9.30pm)
  • Recommended Menu: Brisket, Oyster, Mac & Cheese, Kobe9+
  • Website:


“First of all, the food was fantastic. Loved every bit of it. Staff were absolutely supportive, friendly and knowledgeable about the dishes. Environment is romantic and inviting to dine with nice table arrangements and dim lights. Location was awesome as if you are dining in an old wine cellar.” (Google Review)

“Great experience

Highly recommended. The steak was amazing and so was the brisket. If you enjoy good quality meat this is your place. My 13 old son has said you have spoiled my future steaks as they have to compare to this one.” (Tripadvisor Review)

Palermo Restaurant

The Argentinian steakhouse, Palermo is a chic place for meat lovers to come and enjoy charcoal-grilled meats as well side dishes with diverse wine options.

  • Address: 401 Little Bourke St, Melbourne VIC 3000, Australia
  • Pricing range: $$-$$$
  • Opening Hours: Sun – Mon (closed), Tue – Thur (12pm – 10pm), Fri – Sat (12pm – 11pm)
  • Recommended menu: Cuadril de Cordero (Lamb rump), Solomillo (Porterhouse)
  • Website:


“Entrees and side dishes were really nice along with the pork main dish. The scotch fillet was “nice” but not great. Nicely chargrilled but a bit tasteless. I have had better steaks for $50. The Palermo sour cocktail was very good. Quite a pricey meal though. A really nice evening and meal however and will return.” (Google Review)

“Reliably fabulous

Our group of four chose a number of entrees. The Baked cheese, sweetbreads and both types of empanadas were delicious. Our mains consisted of two types/cuts of beef – the scotch fillet was wonderful and the chicken was cooked to perfection. Vegetables were fresh & tasty.” (Tripadvisor Review)

Lady Nelson’s Wine + Steak

Lady Nelson’s Wine + Steak is a restaurant with the ambiance of an old-fashioned pub. It offers all sorts of dishes, from burgers to steaks and even pasta. The cocktail menu has some delicious choices as well.

  • Address: Windsor, 44 Chapel St, Melbourne VIC 3181, Australia
  • Pricing range: $$-$$$
  • Opening Hours: Sun – Sat (5.30pm – 9pm)
  • Recommended menu: Eye fillet, Porterhouse
  • Website:


“Amazing venue, steak, wine & service, truly cannot rate highly enough. We feel like family every time we dine!” (Google Review)

“Best steak ever

I am the fussiest person when it comes to steaks, has to be tender and on the rare side. Most of the time when I order a rare steak I end up getting a medium rare or overcooked steak for my taste. But not here, not only was the service friendly and attentive but I truly think I have found the best steak ever and not to mention the wine, simply divine. Pity I don’t live in Melbourne and it will be a while before I get back, but back I will be!!!!” (Tripadvisor Review)

Squires Loft South Yarra

Squires Loft is a grillhouse that serves hearty portions of grass-fed steaks and ribs, as well as surf ‘n’ turf. They provide top quality beef coming from the Western District of Victoria and Gippsland’s lush pastures that is known for producing premium grade steak excelling in taste and tenderness.

  • Address: 166 Toorak Rd, South Yarra VIC 3141, Australia
  • Pricing range: $$-$$$
  • Opening Hours: Sun – Wed (5.30pm – 10pm), Thur – Fri (12pm – 3pm, 5.30pm – 10.30pm), Sat (5.30pm – 10.30pm)
  • Recommended menu: Rump, Lamb loin chop, Rib eye
  • Website:


“Fantastic service and perfectly cooked steak. Can’t get better than that. Meat was tender and full of flavour. Pork ribs were amazing. My kids absolutely loved the fried onions too. Will be back for sure” (Google Review)

“Eight thirty pm on a freezing

Eight thirty pm on a freezing May evening in Melbourne – alone – hungry – and dare I say it – looking for a HUGE mouthwatering STEAK ..

And there it was – starring me in the face – Squire’s Loft South Yarra .. all I needed was a dare-devil-ish dash across Toorak Road without breaking a leg on the slippery road ..

I ordered a small 200g Rib eye, brocollini, and a small garden salad ..

It couldn’t have been more perfect !

I could not fault anything – perfectly cooked steak, crunchy greens, ultra fresh lemon wedges, mushroom sauce to kill for and service to match the perfection ..

Be warned – it’s not an el cheap o steak dive- prices are mid to high and although the decor doesn’t scream “FANCY/UPMARKET” (in fact more like a second rate tavern) this place offers a high quality product .. Well worth the hike in the rain ..

Now for the bill !.. Check out the menu first ..” (Tripadvisor Review)

A Hereford Beefstow

One of the best steakhouses in Melbourne, A Hereford Beefstouw couples Nordic cooking methods with high-quality meats. Like any good steakhouse, they source their meats locally and some are even sourced from famous Burvill family farm near Lucindale in South Australia’s Coonawarra region.

  • Address: 22 Duckboard Pl, Melbourne VIC 3000, Australia
  • Pricing range: $$-$$$
  • Opening Hours: Mon – Wed (5.30pm – 10.30pm), Thur – Fri (10.30am – 10.30pm), Sat – Sun (5pm – 10.30)
  • Recommended menu: Tomahawk steak, 100-day dry-aged beef Côte de boeuf (ribeye on bone)
  • Website:


“Of of my all time favourite places for a good steak. I’m never disappointed when I go here. The food is usually pretty from order, and cooked to perfection. On this trip my steak had a little extra gristle/fat than I had noticed before, but the flavour was amazing. They also have a great drink selection! Ideal for a night out with a special somebody, or as a group outing!” (Google Review)

“One of Melbourne’s best

One of Melbourne’s best, booked for valentines night early dinner before a show. Quite clear when booking it was a set menu as most restaurants are on this night.

The food was amazing, staff wonderful and not noisy like a lot of places these days.

Had a great night” (Tripadvisor Review)

Marbl Steakhouse

  • Address: 11 Izett St, Prahran VIC 3181, Australia
  • Pricing range: $$-$$$
  • Opening Hours: Mon – Tue (closed), Wed – Sun (6pm – 9.30pm)
  • Recommended menu: Wagyu rump, Eye fillet
  • Website:


“Simply The BEST

This is my favourite steakhouse. Everything tastes amazing, but my personal go-to is Wagyu Rump with mushroom sauce. Recently tried beef ribs and they were supreme too!” (Tripadvisor Review)

“The fact I have been to this restaurant 3 times in the last 4 months speaks volumes. Amazing experience from the moment you walk in the door – the staff are wonderfully accommodating, the selection of wines is amazing and the food is absolutely outstanding. The only venue in Melbourne that I trust to cook my blue steak perfectly. Cannot recommend enough!” (Google Review)

Lygon Charcoal Grill and Steakhouse

Lygon is a restaurant that has char-grilled meat and fish, as well as hearty Serbian dishes. The outdoor terrace offers the perfect atmosphere for any occasion!

  • Address: 120 Lygon St, Carlton VIC 3053, Australia
  • Pricing range: $$-$$$
  • Opening Hours:
  • Recommended menu: Mon – Thur & Sat (5pm – 11pm), Fri & Sun (12pm – 3pm, 5pm – 11pm)
  • Website:


“Very impressed! Came across this little treasure in the city. Quaint old Melbourne setting with indoor and outdoor seating. If you’re looking for a fresh tasting grill then this is the place to go. The meat platter is big and has a great selection. Chicken shaslicks also tasted so good. All the meat tastes like it’s straight from the butcher to the grill and to your plate. Staff are friendly. Service was good. Well recommended.” (Google Review)

“Great meat, not for vegos

Served old school the focus is on serving quality meat done over flame, great for the steak lover although you need a big appetite.” (Tripadvisor Review)

San Telmo

The Argentinian restaurant, San Telmo is known for serving up the best chargrills in town. The eclectic space has high ceilings with cow hides hanging on them too.

  • Address: 14 Meyers Pl, Melbourne VIC 3000, Australia
  • Pricing range: $$-$$$
  • Opening Hours: 12pm – 11pm
  • Recommended menu: Bife de lomo (eye fillet), Solomillo (sirloin)
  • Website:


“Very nice setting. Felt like we were in a snow village resort. The service was top notch. Food was fantastic.

On the pricey end of the scale but a very nice experience.” (Google Review)

“Served old school the focus is on serving quality meat done oAmazing AND THE BEST ARGENTINEAN RESTAURANT IN AUSTRALIA

I first discovered San Telmo Argentinian restaurant by sheer luck back in October 2019, and was immediately HOOKED.

Due to the current global Covid pandemic I’ve only just managed to return to Melbourne for the SOLE purpose of dining at San Telmo.

I cannot thank all the Amazing team for my extraordinary dining experience, especially the talented professionals in the kitchen.

I looked forward to returning to San Telmo in the very near future and appreciate the amazing service from everyone at San Telmo.

The most grateful customer

SONER ( Pomme from London & Cairns )ver flame, great for the steak lover although you need a big appetite.” (Tripadvisor Review)

Also see: Best Halal Brunch Melbourne: Top 11 Halal Cafe to Enjoy