Aspendale vs Illowa
Property investment comparison - Aspendale, VIC 3195 vs Illowa, VIC 3282
Head-to-head across core investment metrics: Aspendale wins 2, Illowa wins 3. 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 | Aspendale | Illowa |
|---|---|---|
| Median house price | $1.4M | $1.4M |
| Median unit price | $865K | $535K |
| Gross rental yield (houses) | 3.00% | 1.51% |
| Gross rental yield (units) | 4.14% | 1.71% |
| 1-year house growth | +5.2%estimate | - |
| 3-year house growth | - | - |
| Vacancy rate | 1.0% | 0.7% |
| Population | 7,285 | 304 |
Aspendale vs Illowa: what the numbers say
The median house price is $1.4M in Aspendale and $1.4M in Illowa, so Illowa is the cheaper entry point, with Aspendale houses about 1% dearer.
For units, Aspendale sits at a median of $865K against $535K in Illowa, which makes Illowa the more affordable unit market and Aspendale the pricier one.
On cash flow, Aspendale leads: houses there return a gross rental yield of 3.00%, compared with 1.51% in Illowa, a gap of 1.49 percentage points.
Rental vacancy is 0.7% in Illowa and 1.0% in Aspendale, so landlords in Illowa face less competition for tenants. Anything under 2% is generally read as a tight market where tenants compete for homes.
Aspendale is the bigger suburb, with a population of 7,285 against 304, roughly 24 times the size of Illowa; a larger suburb usually means a deeper pool of buyers and tenants.
In short: Aspendale for rental income, Illowa for a lower purchase price, Illowa 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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