Investor ranking · Greater Melbourne
By gross rental yield on the medians their own pages publish, the ten Greater Melbourne suburbs that give an investor the most rent for the price are Hampton Park, Heidelberg West, Cranbourne, Pakenham, Dandenong, Roxburgh Park, Footscray, Sunbury, Carrum Downs and Werribee.
Updated 1 October 2026. Medians for the latest published quarter (updated May 2026). Ranked from 101 Greater Melbourne suburbs.
The ten, in order
Hampton Park (3976) is about 37 km from the Melbourne CBD. The median house price is $675,000 and the latest median house rent from Victorian rental report is $550 a week, a gross yield of 4.2%, the highest in Greater Melbourne. 26,082 people lived there at the 2021 Census.
Heidelberg West (3081) is about 11 km from the Melbourne CBD. The median house price is $750,000 and the latest median house rent from Victorian rental report is $600 a week, a gross yield of 4.2%, the 2nd highest in Greater Melbourne. 5,252 people lived there at the 2021 Census.
Cranbourne (3977) is about 43 km from the Melbourne CBD. The median house price is $713,500 and the latest median house rent from Victorian rental report is $550 a week, a gross yield of 4.0%, the 3rd highest in Greater Melbourne. 21,281 people lived there at the 2021 Census.
Pakenham (3810) is about 54 km from the Melbourne CBD. The median house price is $690,000 and the latest median house rent from Victorian rental report is $530 a week, a gross yield of 4.0%, the 4th highest in Greater Melbourne. 54,118 people lived there at the 2021 Census.
Dandenong (3175) is about 29 km from the Melbourne CBD. The median house price is $755,000 and the latest median house rent from Victorian rental report is $560 a week, a gross yield of 3.9%, the 5th highest in Greater Melbourne. 30,127 people lived there at the 2021 Census.
Roxburgh Park (3064) is about 21 km from the Melbourne CBD. The median house price is $683,000 and the latest median house rent from Victorian rental report is $506 a week, a gross yield of 3.9%, the 6th highest in Greater Melbourne. 24,129 people lived there at the 2021 Census.
Footscray (3011) is about 6 km from the Melbourne CBD. The median house price is $880,000 and the latest median house rent from Victorian rental report is $640 a week, a gross yield of 3.8%, the 7th highest in Greater Melbourne. 17,131 people lived there at the 2021 Census.
Sunbury (3429) is about 34 km from the Melbourne CBD. The median house price is $675,000 and the latest median house rent from Victorian rental report is $490 a week, a gross yield of 3.8%, the 8th highest in Greater Melbourne. 38,851 people lived there at the 2021 Census.
Carrum Downs (3201) is about 36 km from the Melbourne CBD. The median house price is $775,000 and the latest median house rent from Victorian rental report is $560 a week, a gross yield of 3.8%, the 9th highest in Greater Melbourne. 21,976 people lived there at the 2021 Census.
Werribee (3030) is about 28 km from the Melbourne CBD. The median house price is $641,000 and the latest median house rent from Victorian rental report is $460 a week, a gross yield of 3.7%, the 10th highest in Greater Melbourne. 50,027 people lived there at the 2021 Census.
| # | Suburb | Median house price | Rent per week | Gross yield | Km to CBD | Profile |
|---|---|---|---|---|---|---|
| 1 | Hampton Park 3976 | $675,000 | $550 | 4.24% | 37 | View profile → |
| 2 | Heidelberg West 3081 | $750,000 | $600 | 4.16% | 11 | View profile → |
| 3 | Cranbourne 3977 | $713,500 | $550 | 4.01% | 43 | View profile → |
| 4 | Pakenham 3810 | $690,000 | $530 | 3.99% | 54 | View profile → |
| 5 | Dandenong 3175 | $755,000 | $560 | 3.86% | 29 | View profile → |
| 6 | Roxburgh Park 3064 | $683,000 | $506 | 3.85% | 21 | View profile → |
| 7 | Footscray 3011 | $880,000 | $640 | 3.78% | 6 | View profile → |
| 8 | Sunbury 3429 | $675,000 | $490 | 3.77% | 34 | View profile → |
| 9 | Carrum Downs 3201 | $775,000 | $560 | 3.76% | 36 | View profile → |
| 10 | Werribee 3030 | $641,000 | $460 | 3.73% | 28 | View profile → |
A dash means the suburb’s own page publishes no figure. “Area” marks an ABS statistical-area median.
Ranks 11 to 15 on the same rule, for a shortlist that runs past the ten.
Common questions
On the medians their own pages publish and their latest bond-data rents, the highest gross rental yields in Greater Melbourne are in Hampton Park (4.2%), Heidelberg West (4.2%) and Cranbourne (4.0%). Gross yield is the median weekly house rent times 52 divided by the median house price, so it counts none of the costs of holding a property; net yield is usually one to one and a half percentage points lower. The ranking is drawn from 101 suburbs.
None of the 15 Greater Melbourne suburbs at the top of this ranking has a published median house price under $500,000. The lowest among them is Werribee at $641,000. Prices are Land Victoria's quarterly suburb medians. A median is the middle sale, so some houses in these suburbs sold for less than it.
We do not label a suburb undervalued: that is a judgement about the future, and this page prints only what is measured. A high gross yield means the rent is high relative to the price, which is the nearest measured thing to it, and the ten suburbs above are where that ratio is highest among the 101 Greater Melbourne suburbs with a published median and a bond-data rent, led by Hampton Park at 4.2% gross. Among the ten on this page the published medians run from $641,000 in Werribee to $880,000 in Footscray. Whether a price is low for what it buys depends on the street, the block and the house, so read the suburb's own page and the sales it lists.
We do not predict which suburbs will boom, and we hold no growth figure to rank Melbourne suburbs on: the medians we publish for Victoria are quarterly medians for the latest published quarter (updated May 2026), and they come without a 12-month change. A figure beside a suburb here is a median, a rent, a yield, a walk score or a school ICSEA, each measured and sourced, never a forecast. Each suburb's own page shows its published median and says where it comes from.
The ten suburbs on this page yield between 3.7% and 4.2% gross, the ten highest of the 101 Greater Melbourne suburbs with a published median and a bond-data rent. Gross yield leaves out council rates, insurance, management fees, maintenance and vacancy, which together usually take one to one and a half percentage points off it, and a high yield often goes with slower capital growth. Run the net figure on the rental yield calculator before deciding.
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