Cranbourne, VIC 3977
Frankston City CouncilAll suburbs in postcode 3977
Updated
Median house price
$713,500
Median · Land Victoria · the latest published quarter (updated May 2026)
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Cranbourne at a glance
- Median unit
- $492,500
- Weekly rent
- $550
- Houses · units $460
- Population
- 21.3k
- Median age 35
Prices: Median · Land Victoria · the latest published quarter (updated May 2026) · Rent: Victorian rental report, September 2025 · Population: 2021 Census
House prices in Cranbourne
Houses change hands at $713,500 on a typical sale, below the Victoria median. Units come in around $492,500, roughly 31% below the house median.
For buyers
A 20% deposit on the median house works out to roughly $143,000. Prices are below the Victoria median, which keeps Cranbourne on the radar for first-home buyers and right-sizers.
Rental data as of September 2025· Victorian rental report
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What to know about Cranbourne
Cranbourne (3977) sits in the Frankston region of Victoria. The median house here is $713,500, below the Victoria median of around $850K.
Cranbourne has roughly 21,281 residents, with a typical family-age mix. Households are mostly owner-occupied.
What it’s like to live here
Summer days here average around 26°C (mild), winter mornings around 6°C (cool). Annual rainfall lands at about 815 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 10 government primary, 4 government secondary, 4 Catholic, 1 independent.
Schools in Cranbourne
Schools serving Cranbourne: government first, then Catholic and independent.
Government schools
© ACARA, licensed under CC BY 4.0.
Location
Demographics
The 2021 Census put Cranbourne's population at 21,281, with a median age of 35. That sits as a typical family-age mix. Households are mostly owner-occupied (64% own, 34% rent), which shapes everything from school catchment stability to how often properties turn over. The household mix skews family-dominated (72% family households, 24% lone person), so amenity decisions tend to follow what families want: parks, schools, supermarkets.
- Family households
- 72%
- Lone person
- 24%
- Owner occupied
- 64%
- Renter occupied
- 34%
Demographics data as of May 2026· ABS 2021 Census
Investment overview
Gross rental yield on houses sits at 4.01% (median rent $550/wk against a $713,500 price tag). Units yield 4.86% gross, often the better cash-flow play for first-time investors. With 34% of households renting, the leasing market is established and vacancy risk tends to be lower than in owner-dominated suburbs.
- Gross yield, housesSource: Land Victoria / DTP · May 2026
- 4.01%
- On the $713,500 median
- Gross yield, unitsSource: Land Victoria / DTP · May 2026
- 4.86%
- On the $492,500 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
3,137 offences recorded in 2026
Top offence categories
Source: State Police Open Data
Crime data as of December 2026
Weather year-round
- Annual rainfall
- 815 mm
- Hottest month, avg max
- 26.0°C
- Coldest month, avg min
- 6.4°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 Cranbourne
- What is the median house price in Cranbourne?
- The median house price in Cranbourne, VIC 3977 is $713,500 (Land Victoria's quarterly suburb median, the latest published quarter (updated May 2026)). The median unit price is $492,500.
- How much is my house worth in Cranbourne?
- A useful starting point is the Cranbourne median house price of $713,500 (units $492,500). 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 Cranbourne a good investment?
- On the published figures, the gross rental yield on houses in Cranbourne is 4.0%: the median weekly house rent is $550 (Victorian rental report, September 2025) against the median house price of $713,500 (Land Victoria, the latest published quarter, updated May 2026). No 12-month price change is published for Cranbourne: the Land Victoria figures we hold do not measure one. Whether Cranbourne 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 Cranbourne postcode?
- Cranbourne is in the 3977 postcode, in VIC, in the Frankston City Council region.
- Where is Cranbourne?
- Cranbourne is a suburb in the Frankston City Council area, VIC 3977.
- What is the average rent in Cranbourne?
- The median weekly rent for houses is $550, for units it's $460.
- What schools are in Cranbourne?
- There are 20 schools serving Cranbourne on this page, including Cranbourne Park Primary School, Cranbourne Secondary College, St Agatha's School.
- What suburbs are near Cranbourne?
- Cranbourne is close to Cranbourne West, Cranbourne East, Junction Village, Cranbourne North, Botanic Ridge.
- What is the population of Cranbourne?
- The population of Cranbourne is approximately 21,281 (2021 Census). The median age is 35.
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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.