North Melbourne, VIC 3051
City of MelbourneGreater MelbourneAll suburbs in postcode 3051
Updated
Median house price
$1,326,000
Median · Land Victoria · the latest published quarter (updated May 2026)
Selling in North Melbourne?
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North Melbourne at a glance
- Median unit
- $517,500
- Weekly rent
- $853
- Houses · units $660
- Population
- 15.0k
- Median age 31
Prices: Median · Land Victoria · the latest published quarter (updated May 2026) · Rent: Victorian rental report, September 2025 · Population: 2021 Census
House prices in North Melbourne
Houses change hands at $1,326,000 on a typical sale, well above the Victoria median. Units come in around $517,500, roughly 61% below the house median.
For buyers
A 20% deposit on the median house works out to roughly $265,000. 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 North Melbourne
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What to know about North Melbourne
North Melbourne (3051) sits in the Melbourne region of Victoria. The median house here is $1,326,000, well above the Victoria median of around $850K.
North Melbourne has roughly 14,953 residents, with a young-family demographic. Households are renter-heavy. Day-to-day life here is very walkable, with most errands manageable on foot.
What it’s like to live here
North Melbourne scores 100/100 on walkability, which makes it very walkable with workable public transport options. Coffee, groceries and a meal out are mostly walking-distance, which keeps a household viable on one car.
Summer days here average around 27°C (mild), winter mornings around 7°C (cool). Annual rainfall lands at about 582 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 7 government primary, 3 government secondary, 6 Catholic, 1 independent.
Schools in North Melbourne
Location
Walkability
- Walk
- 100/100
- Transit
- 80/100
- Bike
- 100/100
Walker's paradise. Scores out of 100, calculated from OpenStreetMap data (ODbL).
Walkability data as of May 2026· OpenStreetMap
Demographics
The 2021 Census put North Melbourne's population at 14,953, with a median age of 31. That sits as a young-family demographic. Households are renter-heavy (33% own, 64% rent), which shapes everything from school catchment stability to how often properties turn over. Lone-person households are notable here (40%), often a marker of unit-heavy stock and walkable infrastructure.
- Family households
- 48%
- Lone person
- 40%
- Owner occupied
- 33%
- Renter occupied
- 64%
Demographics data as of May 2026· ABS 2021 Census
Investment overview
Gross rental yield on houses sits at 3.35% (median rent $853/wk against a $1,326,000 price tag). Units yield 6.63% gross, often the better cash-flow play for first-time investors. With 64% 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
- 3.35%
- On the $1,326,000 median
- Gross yield, unitsSource: Land Victoria / DTP · May 2026
- 6.63%
- On the $517,500 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
1,932 offences recorded in 2026
Top offence categories
Source: State Police Open Data
Crime data as of December 2026
Weather year-round
- Annual rainfall
- 582 mm
- Hottest month, avg max
- 26.9°C
- Coldest month, avg min
- 6.8°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 North Melbourne
- What is the median house price in North Melbourne?
- The median house price in North Melbourne, VIC 3051 is $1,326,000 (Land Victoria's quarterly suburb median, the latest published quarter (updated May 2026)). The median unit price is $517,500.
- How much is my house worth in North Melbourne?
- A useful starting point is the North Melbourne median house price of $1,326,000 (units $517,500). 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 North Melbourne a good investment?
- On the published figures, the gross rental yield on houses in North Melbourne is 3.3%: the median weekly house rent is $853 (Victorian rental report, September 2025) against the median house price of $1,326,000 (Land Victoria, the latest published quarter, updated May 2026). No 12-month price change is published for North Melbourne: the Land Victoria figures we hold do not measure one. Whether North Melbourne 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 North Melbourne postcode?
- North Melbourne is in the 3051 postcode, in VIC, in the City of Melbourne region.
- Where is North Melbourne?
- North Melbourne is a suburb of Melbourne, in VIC 3051. It is part of the Greater Melbourne area, in the City of Melbourne region.
- What is the average rent in North Melbourne?
- The median weekly rent for houses is $853, for units it's $660.
- What schools are in North Melbourne?
- There are 20 schools serving North Melbourne on this page, including St Aloysius College, St Michael's Primary School, North Melbourne Primary School.
- How walkable is North Melbourne?
- North Melbourne has a Walk Score of 100 out of 100, very walkable. transit score 80, bike score 100.
- What suburbs are near North Melbourne?
- North Melbourne is close to Hotham Hill, Kensington, Parkville.
- What is the population of North Melbourne?
- The population of North Melbourne is approximately 14,953 (2021 Census). The median age is 31.
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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.