Cheltenham, VIC 3192
Bayside CouncilAll suburbs in postcode 3192
Updated
Median house price
$1,302,500
Median · Land Victoria · the latest published quarter (updated May 2026)
Selling in Cheltenham?
Get the free selling guide, personalised to Cheltenham, or ask for a free appraisal from a local agent.
Cheltenham at a glance
- Median unit
- $675,000
- Weekly rent
- $720
- Houses · units $550
Prices: Median · Land Victoria · the latest published quarter (updated May 2026) · Rent: Victorian rental report, September 2025
House prices in Cheltenham
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.
Rental data as of September 2025· Victorian rental report
Free appraisal in Cheltenham
What’s your home worth in Cheltenham?
Ask us to introduce one participating agent who sells in your area for an appraisal backed by recent comparable sales. Only with your permission, and no commitment to list.
What to know about Cheltenham
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.
Day-to-day life here is very walkable, with most errands manageable on foot.
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 640 mm. Figures are our 1991 to 2020 averages of SILO data for this location (Queensland Government, built from Bureau of Meteorology observations).
Schooling within or near the suburb covers 9 government primary, 2 government secondary, 6 Catholic, 2 independent.
Schools in Cheltenham
Location
Walkability
- Walk
- 100/100
- Transit
- 0/100
- Bike
- 100/100
Walker's paradise. Scores out of 100, calculated from OpenStreetMap data (ODbL).
Walkability data as of May 2026· OpenStreetMap
Demographics
Investment overview
Gross rental yield on houses sits at 2.87% (median rent $720/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, housesSource: Land Victoria / DTP · May 2026
- 2.87%
- On the $1,302,500 median
- Gross yield, unitsSource: Land Victoria / DTP · May 2026
- 4.24%
- On the $675,000 median
Gross rental yield is a year’s rent divided by the purchase price, before expenses. It leaves out vacancy, management fees, maintenance and financing costs, so treat it as a starting point.
Crime and safety
1,972 offences recorded in 2026
Top offence categories
Source: State Police Open Data
Crime data as of December 2026
Weather year-round
- Annual rainfall
- 640 mm
- Hottest month, avg max
- 26.1°C
- Coldest month, avg min
- 6.7°C
Rainfall by month
Our 1991 to 2020 averages of SILO data (Queensland Government, built from Bureau of Meteorology observations, CC BY 4.0) for this location.
Climate data as of October 2026· SILO (Queensland Government), from Bureau of Meteorology observations
Questions about Cheltenham
- What is the median house price in Cheltenham?
- The median house price in Cheltenham, VIC 3192 is $1,302,500 (Land Victoria's quarterly suburb median, the latest published quarter (updated May 2026)). The median unit price is $675,000.
- How much is my house worth in Cheltenham?
- A useful starting point is the Cheltenham median house price of $1,302,500 (units $675,000). Your home will sit above or below that depending on land size, condition, position and what comparable homes nearby have sold for recently. For a figure specific to your property, request a free property appraisal from a local agent using the form on this page.
- Is Cheltenham a good investment?
- On the published figures, the gross rental yield on houses in Cheltenham is 2.9%: the median weekly house rent is $720 (Victorian rental report, September 2025) against the median house price of $1,302,500 (Land Victoria, the latest published quarter, updated May 2026). No 12-month price change is published for Cheltenham: the Land Victoria figures we hold do not measure one. Whether Cheltenham is a good investment for you depends on the price you pay, your loan and holding costs, vacancy and your tax position. These are published market figures, not financial advice.
- 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 in the Bayside Council area, VIC 3192.
- What is the average rent in Cheltenham?
- The median weekly rent for houses is $720, 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, Cheltenham North, Mentone East, Mentone, Heatherton.
Selling in Cheltenham? Get the free selling guide
What selling costs, how agents price homes, what to ask them and a 12-week plan to settlement, personalised to Cheltenham. A free PDF, in about a minute.
More on Cheltenham and nearby
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Sources. House and unit medians from the NSW Valuer General, Land Victoria, the SA Government and the ABS; rents from the state rental bond authorities. Census from the ABS (2021), climate from the Bureau of Meteorology, hazard from Geoscience Australia, schools from ACARA and crime from state police open data. Each figure carries its source and date. How we source data
How we’re paid. The guides and this page are free. When a seller asks, we introduce one local agent, and the agent pays us a flat fee for the introduction, never a share of their commission; it costs the seller nothing. If a figure looks wrong, tell us and we’ll fix it.