Carrum Downs vs Elingamite
Property investment comparison - Carrum Downs, VIC 3201 vs Elingamite, VIC 3266
Head-to-head across core investment metrics: Carrum Downs wins 3, Elingamite wins 1. 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 | Carrum Downs | Elingamite |
|---|---|---|
| Median house price | $810K | $810K |
| Median unit price | $620K | $795K |
| Gross rental yield (houses) | 3.76% | 2.28% |
| Gross rental yield (units) | 4.50% | 1.42% |
| 1-year house growth | +11.0% | - |
| 3-year house growth | +19.0% | - |
| Vacancy rate | 0.8% | 0.5% |
| Population | 21,976 | 57 |
Carrum Downs vs Elingamite: what the numbers say
Houses cost about the same in both suburbs: the median house price is $810K in Carrum Downs and $810K in Elingamite.
For units, Carrum Downs sits at a median of $620K against $795K in Elingamite, which makes Carrum Downs the more affordable unit market and Elingamite the pricier one.
On cash flow, Carrum Downs leads: houses there return a gross rental yield of 3.76%, compared with 2.28% in Elingamite, a gap of 1.48 percentage points.
Rental vacancy is 0.5% in Elingamite and 0.8% in Carrum Downs, so landlords in Elingamite face less competition for tenants. Anything under 2% is generally read as a tight market where tenants compete for homes.
Carrum Downs is the bigger suburb, with a population of 21,976 against 57, roughly 386 times the size of Elingamite; a larger suburb usually means a deeper pool of buyers and tenants.
In short: Carrum Downs for rental income, Elingamite 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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