Affordability ranking · VIC

The most affordable suburbs in Victoria.

Suburbs with the lowest median house prices, great entry points into the property market. Filtered to Victoria suburbs only.

About this ranking

'Most affordable' here means lowest median house price, the entry-level suburbs in each state. Affordability isn't the same as good value: a $400K outer-fringe suburb with stagnant population growth and weak infrastructure can be a worse buy than a $700K middle-ring suburb with structural demand. Use this list as a starting point for further research, not a final shortlist.

Victoria property market in 2026

Victoria spent 2024-2025 in a softer cycle than the rest of the country, but 2026 sees the Melbourne market firming again as population growth and the steady drip of overseas migration meet a constrained pipeline of new family-suitable stock. Melbourne's median house price sits around $1.0M to $1.1M, roughly 35-40% below Sydney for an equivalent property, meaningful for first home buyers and rentvestors. Regional Victoria has been mixed: Geelong has held its COVID gains, Ballarat and Bendigo are flat-to-down. The state's planning reforms ('Plan for Victoria') are starting to push approvals up in middle-ring suburbs, which will eventually moderate growth in those pockets.

Buyer tip, VIC
Victorian first home buyers pay no stamp duty up to $600K, with reduced duty to $750K, on new and established homes. At $600K that's about $31K an owner-occupier who isn't a first home buyer would pay, money that goes straight to your deposit.
Watch out, VIC
Victoria's land tax regime hits investors harder than most states once portfolios cross the $300K-ish threshold. Run the numbers including land tax before assuming an investment property cashflows the way the gross rental yield suggests.
Methodology
Sorted by median house price, lowest first, from $100,000. Only a median the suburb's own page publishes is ranked: NSW Valuer General sales, Land Victoria and SA Government quarterly medians, and ABS statistical-area (SA2) medians in the other states and territories, on at least five recorded sales where the count is known. An SA2 median is for the area that carries the suburb's name, which can take in surrounding localities.
Best for
First home buyers prioritising entry into the property market; rentvestors looking for high-yield, lower-entry investments; buyers willing to commute further for a freestanding house.

By stateAll Australia NSW VIC QLD WA SA TAS NT ACT

By cityCheapest suburbs in Melbourne

Showing top 50 suburbs in Victoria

Ranked from 747 suburbs in Victoria with a published median. Prices are Land Victoria's quarterly suburb medians.

#	Suburb	State	Median price	Annual growth	Profile
1	Jeparit 3423	VIC	$149,000	–	View profile →
2	Hopetoun 3396	VIC	$155,000	–	View profile →
3	Murtoa 3390	VIC	$175,000	–	View profile →
4	Minyip 3392	VIC	$180,000	–	View profile →
5	Kaniva 3419	VIC	$182,000	–	View profile →
6	Rupanyup 3388	VIC	$185,000	–	View profile →
7	Ouyen 3490	VIC	$200,000	–	View profile →
8	Underbool 3509	VIC	$200,000	–	View profile →
9	Nhill 3418	VIC	$203,000	–	View profile →
10	Warracknabeal 3393	VIC	$205,000	–	View profile →
11	Lismore 3324	VIC	$210,000	–	View profile →
12	Mortlake 3272	VIC	$220,000	–	View profile →
13	Rainbow 3424	VIC	$220,000	–	View profile →
14	Sea Lake 3533	VIC	$230,000	–	View profile →
15	Edenhope 3318	VIC	$240,000	–	View profile →
16	Birchip 3483	VIC	$242,500	–	View profile →
17	Coleraine 3315	VIC	$245,000	–	View profile →
18	Charlton 3525	VIC	$250,000	–	View profile →
19	Dimboola 3414	VIC	$252,500	–	View profile →
20	Wedderburn 3518	VIC	$257,000	–	View profile →
21	Casterton 3311	VIC	$269,000	–	View profile →
22	Nyah 3594	VIC	$290,000	–	View profile →
23	Boort 3537	VIC	$300,000	–	View profile →
24	Yarram 3971	VIC	$305,000	–	View profile →
25	Kerang 3579	VIC	$312,500	–	View profile →
26	Loch Sport 3851	VIC	$315,000	–	View profile →
27	St Arnaud 3478	VIC	$317,500	–	View profile →
28	Stanhope 3623	VIC	$319,000	–	View profile →
29	Cohuna 3568	VIC	$320,000	–	View profile →
30	Eildon 3713	VIC	$322,500	–	View profile →
31	Tungamah 3728	VIC	$327,500	–	View profile →
32	Paradise Beach 3851	VIC	$335,000	–	View profile →
33	Eureka 3350	VIC	$337,000	–	View profile →
34	Ararat 3377	VIC	$341,000	–	View profile →
35	Donald 3480	VIC	$350,000	–	View profile →
36	Koondrook 3580	VIC	$350,000	–	View profile →
37	Heywood 3304	VIC	$353,000	–	View profile →
38	Morwell 3840	VIC	$355,000	–	View profile →
39	Rawson 3825	VIC	$358,500	–	View profile →
40	Orbost 3888	VIC	$360,000	–	View profile →
41	East Bairnsdale 3875	VIC	$362,500	–	View profile →
42	Lockington 3563	VIC	$362,500	–	View profile →
43	Robinvale 3549	VIC	$364,400	–	View profile →
44	Churchill 3842	VIC	$365,000	–	View profile →
45	Terang 3264	VIC	$365,000	–	View profile →
46	Lake Boga 3584	VIC	$370,000	–	View profile →
47	Nathalia 3638	VIC	$378,500	–	View profile →
48	Horsham 3401	VIC	$379,500	–	View profile →
49	Horsham 3400	VIC	$379,500	–	View profile →
50	Maryborough 3465	VIC	$379,500	–	View profile →

#1Jeparit

VIC 3423

Median price

$149,000

Annual growth

–

View profile →

#2Hopetoun

VIC 3396

Median price

$155,000

Annual growth

–

View profile →

#3Murtoa

VIC 3390

Median price

$175,000

Annual growth

–

View profile →

#4Minyip

VIC 3392

Median price

$180,000

Annual growth

–

View profile →

#5Kaniva

VIC 3419

Median price

$182,000

Annual growth

–

View profile →

#6Rupanyup

VIC 3388

Median price

$185,000

Annual growth

–

View profile →

#7Ouyen

VIC 3490

Median price

$200,000

Annual growth

–

View profile →

#8Underbool

VIC 3509

Median price

$200,000

Annual growth

–

View profile →

#9Nhill

VIC 3418

Median price

$203,000

Annual growth

–

View profile →

#10Warracknabeal

VIC 3393

Median price

$205,000

Annual growth

–

View profile →

#11Lismore

VIC 3324

Median price

$210,000

Annual growth

–

View profile →

#12Mortlake

VIC 3272

Median price

$220,000

Annual growth

–

View profile →

#13Rainbow

VIC 3424

Median price

$220,000

Annual growth

–

View profile →

#14Sea Lake

VIC 3533

Median price

$230,000

Annual growth

–

View profile →

#15Edenhope

VIC 3318

Median price

$240,000

Annual growth

–

View profile →

#16Birchip

VIC 3483

Median price

$242,500

Annual growth

–

View profile →

#17Coleraine

VIC 3315

Median price

$245,000

Annual growth

–

View profile →

#18Charlton

VIC 3525

Median price

$250,000

Annual growth

–

View profile →

#19Dimboola

VIC 3414

Median price

$252,500

Annual growth

–

View profile →

#20Wedderburn

VIC 3518

Median price

$257,000

Annual growth

–

View profile →

#21Casterton

VIC 3311

Median price

$269,000

Annual growth

–

View profile →

#22Nyah

VIC 3594

Median price

$290,000

Annual growth

–

View profile →

#23Boort

VIC 3537

Median price

$300,000

Annual growth

–

View profile →

#24Yarram

VIC 3971

Median price

$305,000

Annual growth

–

View profile →

#25Kerang

VIC 3579

Median price

$312,500

Annual growth

–

View profile →

#26Loch Sport

VIC 3851

Median price

$315,000

Annual growth

–

View profile →

#27St Arnaud

VIC 3478

Median price

$317,500

Annual growth

–

View profile →

#28Stanhope

VIC 3623

Median price

$319,000

Annual growth

–

View profile →

#29Cohuna

VIC 3568

Median price

$320,000

Annual growth

–

View profile →

#30Eildon

VIC 3713

Median price

$322,500

Annual growth

–

View profile →

#31Tungamah

VIC 3728

Median price

$327,500

Annual growth

–

View profile →

#32Paradise Beach

VIC 3851

Median price

$335,000

Annual growth

–

View profile →

#33Eureka

VIC 3350

Median price

$337,000

Annual growth

–

View profile →

#34Ararat

VIC 3377

Median price

$341,000

Annual growth

–

View profile →

#35Donald

VIC 3480

Median price

$350,000

Annual growth

–

View profile →

#36Koondrook

VIC 3580

Median price

$350,000

Annual growth

–

View profile →

#37Heywood

VIC 3304

Median price

$353,000

Annual growth

–

View profile →

#38Morwell

VIC 3840

Median price

$355,000

Annual growth

–

View profile →

#39Rawson

VIC 3825

Median price

$358,500

Annual growth

–

View profile →

#40Orbost

VIC 3888

Median price

$360,000

Annual growth

–

View profile →

#41East Bairnsdale

VIC 3875

Median price

$362,500

Annual growth

–

View profile →

#42Lockington

VIC 3563

Median price

$362,500

Annual growth

–

View profile →

#43Robinvale

VIC 3549

Median price

$364,400

Annual growth

–

View profile →

#44Churchill

VIC 3842

Median price

$365,000

Annual growth

–

View profile →

#45Terang

VIC 3264

Median price

$365,000

Annual growth

–

View profile →

#46Lake Boga

VIC 3584

Median price

$370,000

Annual growth

–

View profile →

#47Nathalia

VIC 3638

Median price

$378,500

Annual growth

–

View profile →

#48Horsham

VIC 3401

Median price

$379,500

Annual growth

–

View profile →

#49Horsham

VIC 3400

Median price

$379,500

Annual growth

–

View profile →

#50Maryborough

VIC 3465

Median price

$379,500

Annual growth

–

View profile →

Common questions

About this ranking

Are the cheapest suburbs always the worst suburbs?

No. Affordability often reflects distance from CBD, sparse public transport, or limited amenity rather than 'bad' attributes. Plenty of affordable suburbs are growing strongly because the local economy and demographics are improving. Always look at population trend, infrastructure pipeline, and rental vacancy alongside price.

Should I buy the cheapest house I can or save for longer?

Depends on your timeline. If you'll hold for 10+ years, time-in-market usually beats waiting for a bigger deposit on a 'better' suburb. If you'll move within 3-5 years, transaction costs (stamp duty + agent fees) on the entry purchase can wipe out modest growth.

What about regional vs outer-metro for affordability?

Outer-metro typically holds value better because it's still tied to the capital city economy. Regional towns can offer better entry pricing but add commute risk if you need to fall back on metro employment. Strong regional centres (Newcastle, Geelong, Toowoomba) split the difference well.

Other rankings

Best Suburbs for Families Highest Growth Suburbs Most Walkable Suburbs Lowest Flood Risk Suburbs Best Rental Yield Suburbs

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The most affordable suburbs in Victoria.

Victoria property market in 2026

Buyer tip, VIC

Watch out, VIC

Methodology

Best for

About this ranking

Shortlisted a suburb? Buy it well.