Carlton vs Fitzroy.
Comparing two suburbs with median house prices of $1,761,500 and $1,815,000.
Carlton (median $1,761,500) is roughly 3% cheaper to buy into than Fitzroy ($1,815,000).
On school quality, the average ICSEA across schools serving Fitzroy (1071) sits above Carlton (1044).
For buyers
Carlton is the lower entry point at $1,761,500 median, 3% below the other suburb. For first home buyers, that translates to a smaller deposit and lower stamp duty bill.
For investors
Carlton offers the higher gross rental yield (2.80% vs 2.01%), favouring cash-flow investors.
For families
Fitzroy edges out on average school ICSEA (1071 vs 1044).
Common questions
Is Carlton or Fitzroy cheaper to buy in?
Carlton has the lower median house price at $1,761,500, roughly 3% below Fitzroy ($1,815,000). The gap on units is usually similar but worth checking on the full suburb profiles.
Does Carlton or Fitzroy have better schools?
On average school ICSEA (the ACARA index that benchmarks educational advantage), Fitzroy scores 1071 vs 1044 in Carlton. ICSEA is a school-community indicator, not a quality rating, so always check NAPLAN results and catchment boundaries for the specific address you're considering.
Which suburb has higher rental yield, Carlton or Fitzroy?
Gross rental yield on houses is 2.80% in Carlton vs 2.01% in Fitzroy. Gross yield equals annual rent divided by purchase price. Net yield (after strata, rates, insurance, agent fees and maintenance) typically runs 1.5-2 percentage points lower.
The numbers behind the take
Price & Market
Rental
Lifestyle & Demographics
Risk & Hazard
Schools
Climate
Green dot = better on that metric (lower price, higher growth, higher walkability, lower risk).
Compare Carlton against another suburb