Cheltenham at a glance
Median house
$1,302,500
Median unit
$675,000
Walk score
100
Walker's paradise
Population
24.1k
Median age 40
The brief
What to know about Cheltenham.
The postcode for Cheltenham is 3192 (VIC), part of Greater Melbourne.
The median house price in Cheltenham is $1,302,500.
Cheltenham (3192) sits in the Bayside region of Victoria. The median house here is $1,302,500, well above the Victoria median of around $850K.
Cheltenham has roughly 24,129 residents, with a typical family-age mix. Households are dominated by renters. Day-to-day life here is very walkable, with most errands manageable on foot.
Side by side
Compare Cheltenham with a nearby suburb.
Median, growth, schools, walkability, all in one view.
Day to day
What it’s like to live here.
Cheltenham scores 100/100 on walkability, which makes it very walkable with limited public transport. Coffee, groceries and a meal out are mostly walking-distance, which keeps a household viable on one car.
Summer days here average around 26°C (mild), winter mornings around 7°C (cool). Annual rainfall lands at about 639mm. Data comes from the Bureau of Meteorology's Melbourne (Olympic Park) station, 64.9km away.
Schooling within or near the suburb covers 9 government primary, 2 government secondary, 6 Catholic, 2 independent.
Who lives here
Demographics.
The 2021 Census put Cheltenham's population at 24,129, with a median age of 40. That sits as a typical family-age mix.
Population
24,129
Median age
40
Family households
–
Lone person
–
Houses change hands at $1,302,500 on a typical sale, well above the Victoria median. Units come in around $675,000, roughly 48% below the house median.
For buyers
A 20% deposit on the median house works out to roughly $261,000. Prices sit well above the Victoria median, so plan for a stretched deposit and shop carefully on borrowing capacity.
Market
The price of a home here.
Median house price
$1,302,500
+0.0% over the past year. Median unit price $675,000.
Sales data as of May 2026· sales-vic
Rental and ownership
Weekly rent (house)
$635/wk
Weekly rent (unit)
$550/wk
Owner occupied
–
Renter occupied
–
At a deeper level
$1,302,500
$675,000
24,129
Median age: 40
Rental data as of September 2025· rental-vic
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For investors
Investment overview.
Gross rental yield on houses sits at 2.54% (median rent $635/wk against a $1,302,500 price tag). Units yield 4.24% gross, often the better cash-flow play for first-time investors.
Gross Yield (House)
Source: Land Victoria / DTP · May 20262.54%
Based on $1,302,500 median
Gross Yield (Unit)
Source: Land Victoria / DTP · May 20264.24%
Based on $675,000 median
Annual Growth (House)
Source: Land Victoria / DTP · May 2026–
Year-on-year capital growth
Annual Growth (Unit)
Source: Land Victoria / DTP · May 2026–
Year-on-year capital growth
Owner Occupancy
Source: ABS Census 2021–
Higher = more owner-occupier demand
Days on Market
Source: Land Victoria / DTP · May 2026–
Lower = higher buyer demand
Gross rental yield is annual rent divided by purchase price, before expenses. It does not account for vacancy rates, management fees, maintenance, or financing costs. Use this as a starting point for further research.
Safety
Crime and safety.
2,043
total offences in 2025
Top offence categories
Crime statistics are reported at LGA level and may cover a broader area than this suburb.
Source: State Police Open Data
Crime data as of December 2025· State Police Open Data
Getting around
Walkability.
100
0
100
Scores calculated from OpenStreetMap data (ODbL)
Walkability data as of May 2026· OpenStreetMap
Place
Location.
Amenities
Transport
Education
Schools in Cheltenham.
Local schools for Cheltenham
View the catchment for each school to find out more.
Government School Catchment
Cheltenham East Primary School
Le Page Primary School
Cheltenham Primary School
© ACARA, licensed under CC BY 4.0.
Climate
Weather year-round.
Annual Rainfall
639 mm
Hottest Month (avg max)
26.0°C
Coldest Month (avg min)
6.5°C
Monthly Rainfall (mm)
Weather data from BOM station Melbourne (Olympic Park) (65 km away)
Climate data as of May 2026· Bureau of Meteorology
Frequently asked
About Cheltenham.
- What is the median house price in Cheltenham?
- The median house price in Cheltenham, VIC 3192 is $1,302,500. The median unit price is $675,000.
- What is the Cheltenham postcode?
- Cheltenham is in the 3192 postcode, in VIC, in the Bayside Council region.
- Where is Cheltenham?
- Cheltenham is a suburb of Melbourne, in VIC 3192. It is part of the Greater Melbourne area, in the Bayside Council region.
- What is the average rent in Cheltenham?
- The median weekly rent for houses is $635, for units it's $550.
- What schools are in Cheltenham?
- There are 20 schools serving Cheltenham on this page, including Cheltenham East Primary School, Our Lady of the Assumption School, Le Page Primary School.
- How walkable is Cheltenham?
- Cheltenham has a Walk Score of 100 out of 100, very walkable. transit score 0, bike score 100.
- What suburbs are near Cheltenham?
- Cheltenham is close to Cheltenham East, Southland Centre, Cheltenham North, Mentone East, Mentone.
- What is the population of Cheltenham?
- The population of Cheltenham is approximately 24,129 (2021 Census). The median age is 40.
For Sale
Cheltenham
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Side by side
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Sources cited
Median, growth and rental data from state revenue offices and ABS. Census from ABS 2021. Climate from BoM. Hazard from Geoscience Australia. School data from ACARA. Crime from state police open data. Full methodology →
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