Alexandra vs Milltown
Property investment comparison - Alexandra, VIC 3714 vs Milltown, VIC 3304
Head-to-head across core investment metrics: Alexandra wins 1, Milltown wins 2. The better choice depends on whether you're optimising for cash flow, growth, affordability, or liquidity, the table below highlights the winner on each metric.
| Metric | Alexandra | Milltown |
|---|---|---|
| Median house price | $535K | - |
| Median unit price | - | $395K |
| Gross rental yield (houses) | 4.19% | 5.22% |
| Gross rental yield (units) | 4.60% | 2.24% |
| 1-year house growth | +7.9% | - |
| 3-year house growth | +7.9% | - |
| Vacancy rate | 0.9% | 0.5% |
| Population | 2,801 | 46 |
Alexandra vs Milltown: what the numbers say
On cash flow, Milltown leads: houses there return a gross rental yield of 5.22%, compared with 4.19% in Alexandra, a gap of 1.03 percentage points.
Rental vacancy is 0.5% in Milltown and 0.9% in Alexandra, so landlords in Milltown face less competition for tenants. Anything under 2% is generally read as a tight market where tenants compete for homes.
Alexandra is the bigger suburb, with a population of 2,801 against 46, roughly 61 times the size of Milltown; a larger suburb usually means a deeper pool of buyers and tenants.
In short: Milltown for rental income, Milltown for the tighter rental market. Which matters more depends on whether the investor is buying for cash flow, capital growth or affordability.
Keep exploring
- National investment guide - top suburbs across every metric
- Take the suburb finder quiz - 5 questions to match your goals
- How our investment score works
- Property investment glossary - every term defined
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