East Melbourne vs Richmond.
Comparing two suburbs with median house prices of $2,400,000 and $1,435,000. Richmond edges out on more headline metrics in this comparison.
Richmond (median $1,435,000) is roughly 67% cheaper to buy into than East Melbourne ($2,400,000).
On school quality, the average ICSEA across schools serving Richmond (1091) sits above East Melbourne (1038).
For buyers
Richmond is the lower entry point at $1,435,000 median, 67% below the other suburb. For first home buyers, that translates to a smaller deposit and lower stamp duty bill.
For investors
Richmond offers the higher gross rental yield (3.59% vs 1.41%), favouring cash-flow investors.
For families
Richmond edges out on average school ICSEA (1091 vs 1038).
Common questions
Is East Melbourne or Richmond cheaper to buy in?
Richmond has the lower median house price at $1,435,000, roughly 67% below East Melbourne ($2,400,000). The gap on units is usually similar but worth checking on the full suburb profiles.
Does East Melbourne or Richmond have better schools?
On average school ICSEA (the ACARA index that benchmarks educational advantage), Richmond scores 1091 vs 1038 in East Melbourne. 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, East Melbourne or Richmond?
Gross rental yield on houses is 3.59% in Richmond vs 1.41% in East Melbourne. 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 East Melbourne against another suburb