Wellington Shire Council
Paynesville
Paynesville at a glance
Median house
$521,500
Median unit
$340,000
Walk score
0
Very car dependent
Population
4,235
Median age 63
The brief
What to know about Paynesville.
Paynesville (3880) sits in the Wellington region of Victoria. The median house here is $521,500, below the Victoria median of around $850K.
Paynesville has roughly 4,235 residents, with a retiree-heavy demographic. Households are dominated by renters. Daily life is car-dependent: most residents drive to work, school and the shops.
Side by side
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Day to day
What it’s like to live here.
Paynesville scores 0/100 on walkability, which makes it car-dependent with limited public transport. Plan for two cars in a typical household, especially if work isn't local.
Schooling within or near the suburb covers 10 government primary, 1 government secondary, 2 Catholic, 2 independent.
Who lives here
Demographics.
The 2021 Census put Paynesville's population at 4,235, with a median age of 63. That sits as a retiree-heavy demographic.
Population
4,235
Median age
63
Family households
–
Lone person
–
Houses change hands at $521,500 on a typical sale, below the Victoria median. Units come in around $340,000, roughly 35% below the house median.
For buyers
A 20% deposit on the median house works out to roughly $104,000. Prices are below the Victoria median, which keeps Paynesville on the radar for first-home buyers and right-sizers.
Market
The price of a home here.
Median house price
$521,500
+0.0% over the past year. Median unit price $340,000.
Sales data as of May 2026· sales-vic
Rental and ownership
Weekly rent (house)
$309/wk
Weekly rent (unit)
$263/wk
Owner occupied
–
Renter occupied
–
At a deeper level
$521,500
$340,000
4,235
Median age: 63
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For investors
Investment overview.
Gross rental yield on houses sits at 3.08% (median rent $309/wk against a $521,500 price tag). Units yield 4.02% gross, often the better cash-flow play for first-time investors.
Gross Yield (House)
Source: Land Victoria / DTP · May 20263.08%
Based on $521,500 median
Gross Yield (Unit)
Source: Land Victoria / DTP · May 20264.02%
Based on $340,000 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–
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.
Safety
Crime and safety.
114
total offences in 2025
Top offence categories
Crime statistics are reported at LGA level and may cover a broader area than this suburb.
Source: State Police Open Data
Crime data as of December 2025· State Police Open Data
Getting around
Walkability.
0
0
0
Scores calculated from OpenStreetMap data (ODbL)
Walkability data as of May 2026· OpenStreetMap
Place
Location.
Amenities
Transport
Education
Schools in Paynesville.
Local schools for Paynesville
View the catchment for each school to find out more.
Government School Catchment
Paynesville Primary School
Eagle Point Primary School
Nicholson Primary School
© ACARA, licensed under CC BY 4.0.
Frequently asked
About Paynesville.
- What is the median house price in Paynesville?
- The median house price in Paynesville, VIC 3880 is $521,500. The median unit price is $340,000. Annual growth is +0.0%.
- What is the Paynesville postcode?
- Paynesville is in the 3880 postcode, in VIC, in the Wellington Shire Council region.
- What is the average rent in Paynesville?
- The median weekly rent for houses is $309, for units it's $263.
- What schools are in Paynesville?
- There are 16 schools serving Paynesville on this page, including Paynesville Primary School, Eagle Point Primary School, Nicholson Primary School.
- How walkable is Paynesville?
- Paynesville has a Walk Score of 0 out of 100, highly car-dependent. transit score 0, bike score 0.
- What suburbs are near Paynesville?
- Paynesville is close to Raymond Island, Newlands Arm, Eagle Point, Banksia Peninsula, Boole Poole.
- What is the population of Paynesville?
- Paynesville has approximately 4,235 residents. The median age is 63.
For Sale
Paynesville
Guides
Surrounding Suburbs
Side by side
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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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