Would $700/w rent be insane on my income?

Just seeking a sense check I guess. Looking at moving out for the first time, much closer to work and other amenities. Obviously my ability to save will be considerably impacted, but I have lived at home and managed to save a fair amount over the last 5 years or so. My normal monthly pay net is about $7.8k, so it would be nearly 40% of my take home which seems kind of crazy. In a way I kind of want to try before I commit to buying a unit in a metro area given I've always lived kinda far away from the CBD in a house.

Also not overly keen on room-sharing with a random. Any thoughts are appreciated :)