Rental market inSouth Melbourne VIC 3205
The rental market
Median rent, history and gross-yield calculations for South Melbourne, VIC 3205.
Current rent
What it costs to rent here right now.
House (median)
$950/wk
Unit (median)
$700/wk
3 bedroom
$950/wk
2 bedroom
$700/wk
1 bedroom
$548/wk
Rental data as of September 2025· rental-vic
Investor view
Rental yield versus purchase price.
Median house price
$1,760,000
Median weekly rent
$950/wk
Gross rental yield
2.81%
Gross yield = (weekly rent × 52) ÷ median house price × 100. Does not account for expenses, vacancy, or management fees. Use the rental yield calculator for a net-yield estimate.
History
How rents have moved.
| Period | House median | Unit median |
|---|---|---|
| 2025-Q3 | $950/wk | $700/wk |
| 2025-Q2 | $950/wk | $680/wk |
| 2025-Q1 | $980/wk | $680/wk |
| 2024-Q4 | $995/wk | $680/wk |
| 2024-Q3 | $995/wk | $680/wk |
| 2024-Q2 | $950/wk | $680/wk |
| 2024-Q1 | $955/wk | $650/wk |
| 2023-Q4 | $950/wk | $650/wk |
| 2023-Q3 | $900/wk | $625/wk |
| 2023-Q2 | $900/wk | $600/wk |
| 2023-Q1 | $880/wk | $570/wk |
| 2022-Q4 | $860/wk | $550/wk |
| 2022-Q3 | $850/wk | $517/wk |
| 2022-Q2 | $833/wk | $500/wk |
| 2022-Q1 | $775/wk | $460/wk |
| 2021-Q4 | $750/wk | $450/wk |
| 2021-Q3 | $775/wk | $440/wk |
| 2021-Q2 | $775/wk | $450/wk |
| 2021-Q1 | $763/wk | $450/wk |
| 2020-Q4 | $850/wk | $505/wk |
Active listings
Properties for rent in South Melbourne.
Browse current rental listings.
Thinking about investing in South Melbourne?
Gross yield is only half the picture. Get matched with a local expert who knows vacancy, tenant demand and what actually rents in South Melbourne. Free, no obligation.
Talk to an investment expert