Princes Hill vs Parkville.
Comparing two suburbs with median house prices of $1,800,000 and $2,025,000. Princes Hill edges out on more headline metrics in this comparison.
Princes Hill (median $1,800,000) is roughly 11% cheaper to buy into than Parkville ($2,025,000).
Princes Hill scores higher on walkability (100/100 vs 52/100 ), useful if you're optimising for a car-light household. On school quality, the average ICSEA across schools serving Princes Hill (1125) sits above Parkville (1082).
For buyers
Princes Hill is the lower entry point at $1,800,000 median, 11% below the other suburb. For first home buyers, that translates to a smaller deposit and lower stamp duty bill.
For investors
Parkville offers the higher gross rental yield (2.44% vs 1.56%), favouring cash-flow investors.
For families
Princes Hill edges out on average school ICSEA (1125 vs 1082).
Common questions
Is Princes Hill or Parkville cheaper to buy in?
Princes Hill has the lower median house price at $1,800,000, roughly 11% below Parkville ($2,025,000). The gap on units is usually similar but worth checking on the full suburb profiles.
Does Princes Hill or Parkville have better schools?
On average school ICSEA (the ACARA index that benchmarks educational advantage), Princes Hill scores 1125 vs 1082 in Parkville. 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 is more walkable, Princes Hill or Parkville?
Princes Hill scores 100/100 on walkability vs 52/100. Above 70 is considered very walkable (most errands on foot), 50-69 is walkable for some errands, below 50 typically requires a car for daily life.
Which suburb has higher rental yield, Princes Hill or Parkville?
Gross rental yield on houses is 2.44% in Parkville vs 1.56% in Princes Hill. 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 Princes Hill against another suburb