Fitzroy vs Richmond
Richmond (median $1,435,000) is roughly 21% cheaper to buy into than Fitzroy ($1,815,000).
Buying in Fitzroy or Richmond?
Selling in Fitzroy? The free selling guide
Fitzroy and Richmond side by side
| Measure | Fitzroy | Richmond |
|---|---|---|
| Price and market | ||
| Median house | $1,815,000 | $1,435,000 |
| Median unit | $824,000 | $566,300 |
| Renting | ||
| House rent | $1100/wk | $990/wk |
| Unit rent | $750/wk | $700/wk |
| Schools | ||
| Schools nearby | 20 | 20 |
| Average ICSEA | 1071 | 1091 |
| Lifestyle and people | ||
| Walk score | 100 | 100 |
| Transit score | 100 | 100 |
| Bike score | 100 | 100 |
| Climate | ||
| Annual rainfall | 611 mm | 611 mm |
| Mean max, January | 27.0°C | 27.0°C |
Green dot: better on that measure (lower price, higher growth, higher walkability, lower risk). Each suburb’s profile gives the source and period of its figures.
Which suits whom
On school quality, the average ICSEA across schools serving Richmond (1091) sits above Fitzroy (1071).
- For buyers
- Richmond is the lower entry point at $1,435,000 median, 21% 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 3.15%), favouring cash-flow investors.
- For families
- Richmond edges out on average school ICSEA (1091 vs 1071).
Fitzroy vs Richmond: common questions
Is Fitzroy or Richmond cheaper to buy in?
Richmond has the lower median house price at $1,435,000, roughly 21% below Fitzroy ($1,815,000). The gap on units is usually similar but worth checking on the full suburb profiles.
Does Fitzroy or Richmond have better schools?
On average school ICSEA (the ACARA index that benchmarks educational advantage), Richmond scores 1091 vs 1071 in Fitzroy. 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, Fitzroy or Richmond?
Gross rental yield on houses is 3.59% in Richmond vs 3.15% 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.
Keep comparing
The two suburbs
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Choosing between Fitzroy and Richmond?
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