Richmond at a glance
Median house
$1,435,000
Median unit
$566,300
Weekly rent
$990
Houses · units $700
Gross yield
3.6%
Houses, on the median
Walk score
100
Walker's paradise
Prices: Median · Land Victoria · the latest published quarter (updated May 2026) · Rent: Victorian rental report, September 2025
Houses change hands at $1,435,000 on a typical sale, well above the Victoria median. Units come in around $566,300, roughly 61% below the house median.
For buyers
A 20% deposit on the median house works out to roughly $287,000. Prices sit well above the Victoria median, so plan for a stretched deposit and shop carefully on borrowing capacity.
Market
House prices in Richmond.
Median house price
$1,435,000
Median unit price $566,300.
Median · Land Victoria · the latest published quarter (updated May 2026)
Rental and ownership
Weekly rent (house)
$990/wk
Weekly rent (unit)
$700/wk
Owner occupied
–
Renter occupied
–
At a deeper level
$1,435,000
$566,300
Rental data as of September 2025· rental-vic
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The brief
What to know about Richmond.
Richmond's median house price is $1,435,000 (Land Victoria's quarterly suburb median, the latest published quarter (updated May 2026)).
Postcode 3121 (VIC), City of Yarra, part of Greater Melbourne.
Richmond (3121) sits in the Yarra region of Victoria. The median house here is $1,435,000, well above the Victoria median of around $850K.
Day-to-day life here is very walkable, with most errands manageable on foot.
Side by side
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Median, growth, schools, walkability, all in one view.
Day to day
What it’s like to live here.
Richmond 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 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 6 government primary, 5 government secondary, 2 Catholic, 5 independent.
Who lives here
Demographics.
Population
–
Median age
–
Family households
–
Lone person
–
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For investors
Investment overview.
Gross rental yield on houses sits at 3.59% (median rent $990/wk against a $1,435,000 price tag). Units yield 6.43% gross, often the better cash-flow play for first-time investors.
Gross Yield (House)
Source: Land Victoria / DTP · May 20263.59%
Based on $1,435,000 median
Gross Yield (Unit)
Source: Land Victoria / DTP · May 20266.43%
Based on $566,300 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.
4,045
total offences in 2026
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 2026· State Police Open Data
Getting around
Walkability.
100
100
100
Scores calculated from OpenStreetMap data (ODbL)
Walkability data as of May 2026· OpenStreetMap
Place
Location.
Amenities
Transport
Education
Schools in Richmond.
Local schools for Richmond
View the catchment for each school to find out more.
Government School Catchment
Richmond High School
Richmond Primary School
Bindjiroo Yaluk Community 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 Richmond.
- What is the median house price in Richmond?
- The median house price in Richmond, VIC 3121 is $1,435,000 (Land Victoria's quarterly suburb median, the latest published quarter (updated May 2026)). The median unit price is $566,300.
- How much is my house worth in Richmond?
- A useful starting point is the Richmond median house price of $1,435,000 (units $566,300). 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 Richmond a good investment?
- On the published figures, the gross rental yield on houses in Richmond is 3.6%: the median weekly house rent is $990 (Victorian rental report, September 2025) against the median house price of $1,435,000 (Land Victoria, the latest published quarter, updated May 2026). No 12-month price change is published for Richmond: the Land Victoria figures we hold do not measure one. Whether Richmond 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 Richmond postcode?
- Richmond is in the 3121 postcode, in VIC, in the City of Yarra region.
- Where is Richmond?
- Richmond is a suburb of Melbourne, in VIC 3121. It is part of the Greater Melbourne area, in the City of Yarra region.
- What is the average rent in Richmond?
- The median weekly rent for houses is $990, for units it's $700.
- What schools are in Richmond?
- There are 20 schools serving Richmond on this page, including Ignatius Learning Centre, Melbourne Indigenous Transition School, Richmond High School.
- How walkable is Richmond?
- Richmond has a Walk Score of 100 out of 100, very walkable. transit score 100, bike score 100.
- What suburbs are near Richmond?
- Richmond is close to Richmond South, Richmond East, Cremorne, Burnley North, Burnley.
Richmond
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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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