Melbourne at a glance
Median house
$440,000
Median unit
$567,500
Walk score
100
Walker's paradise
Population
54.9k
Median age 29
The brief
What to know about Melbourne.
The postcode for Melbourne is 3004 (VIC), part of Greater Melbourne.
The median house price in Melbourne is $440,000.
Melbourne (3004) sits in the Melbourne region of Victoria. The median house here is $440,000, well below the Victoria median of around $850K.
Melbourne has roughly 54,941 residents, with a young-family demographic. Households are dominated by renters. Day-to-day life here is very walkable, with most errands manageable on foot.
Side by side
Compare Melbourne with a nearby suburb.
Median, growth, schools, walkability, all in one view.
Day to day
What it’s like to live here.
Melbourne 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 5 government primary, 5 government secondary, 2 Catholic, 7 independent.
Who lives here
Demographics.
The 2021 Census put Melbourne's population at 54,941, with a median age of 29. That sits as a young-family demographic. Households are dominated by renters (26% own, 71% rent), which shapes everything from school catchment stability to how often properties turn over. Lone-person households are notable here (47%), often a marker of unit-heavy stock and walkable infrastructure.
Population
54,941
Median age
29
Family households
38%
Lone person
47%
Demographics data as of May 2026· ABS 2021 Census
Houses change hands at $440,000 on a typical sale, well below the Victoria median. Units come in around $567,500, roughly -29% below the house median.
For buyers
A 20% deposit on the median house works out to roughly $88,000. Prices are well below the Victoria median, which keeps Melbourne on the radar for first-home buyers and right-sizers.
Market
The price of a home here.
Median house price
$440,000
+0.0% over the past year. Median unit price $567,500.
Sales data as of May 2026· sales-vic
Rental and ownership
Weekly rent (house)
$451/wk
Weekly rent (unit)
$381/wk
Owner occupied
26%
Renter occupied
71%
At a deeper level
$440,000
$567,500
54,941
Median age: 29
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For investors
Investment overview.
Gross rental yield on houses sits at 5.33% (median rent $451/wk against a $440,000 price tag). Units yield 3.49% gross, often the better cash-flow play for first-time investors. With 71% of households renting, the leasing market is established and vacancy risk tends to be lower than in owner-dominated suburbs.
Gross Yield (House)
Source: Land Victoria / DTP · May 20265.33%
Based on $440,000 median
Gross Yield (Unit)
Source: Land Victoria / DTP · May 20263.49%
Based on $567,500 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 · May 202626%
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.
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 Melbourne.
Local schools for Melbourne
View the catchment for each school to find out more.
Government School Catchment
MacRobertson Girls High School
South Yarra Primary School
Victorian College Of The Arts Secondary 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 Melbourne.
- What is the median house price in Melbourne?
- The median house price in Melbourne, VIC 3004 is $440,000. The median unit price is $567,500.
- What is the Melbourne postcode?
- Melbourne is in the 3004 postcode, in VIC, in the City of Melbourne region.
- Where is Melbourne?
- Melbourne is a suburb of Melbourne, in VIC 3004. It is part of the Greater Melbourne area, in the City of Melbourne region.
- What is the average rent in Melbourne?
- The median weekly rent for houses is $451, for units it's $381.
- What schools are in Melbourne?
- There are 20 schools serving Melbourne on this page, including Melbourne Grammar School, Melbourne Girls Grammar, MacRobertson Girls High School.
- How walkable is Melbourne?
- Melbourne has a Walk Score of 100 out of 100, very walkable. transit score 0, bike score 100.
- What suburbs are near Melbourne?
- Melbourne is close to Domain Road Po, St Kilda Road Central, St Kilda Road Melbourne, Cremorne, South Yarra.
- What is the population of Melbourne?
- The population of Melbourne is approximately 54,941 (2021 Census). The median age is 29.
For Sale
Melbourne
Buying
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Side by side
Compare Melbourne vs a nearby suburb
See median prices, growth, schools, walkability and risk side by side in one view.
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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