Benalla vs Hamilton
Property investment comparison - Benalla, VIC 3673 vs Hamilton, VIC 3300
Head-to-head across core investment metrics: Benalla wins 2, Hamilton 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 | Benalla | Hamilton |
|---|---|---|
| Median house price | $445K | $440K |
| Median unit price | $315K | $325K |
| Gross rental yield (houses) | 5.87% | 4.76% |
| Gross rental yield (units) | 3.31% | 5.53% |
| 1-year house growth | - | +10.6%estimate |
| 3-year house growth | - | - |
| Vacancy rate | 3.0% | 0.3% |
| Population | 10,822 | 10,346 |
Benalla vs Hamilton: what the numbers say
The median house price is $445K in Benalla and $440K in Hamilton, so Hamilton is the cheaper entry point, with Benalla houses about 1% dearer.
For units, Benalla sits at a median of $315K against $325K in Hamilton, which makes Benalla the more affordable unit market and Hamilton the pricier one.
On cash flow, Benalla leads: houses there return a gross rental yield of 5.87%, compared with 4.76% in Hamilton, a gap of 1.11 percentage points.
Rental vacancy is 0.3% in Hamilton and 3.0% in Benalla, so landlords in Hamilton face less competition for tenants. Anything under 2% is generally read as a tight market where tenants compete for homes.
Benalla is the bigger suburb, with a population of 10,822 against 10,346, larger than Hamilton; a larger suburb usually means a deeper pool of buyers and tenants.
In short: Benalla for rental income, Hamilton for a lower purchase price, Hamilton 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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