Cheltenham vs Mardan
Property investment comparison - Cheltenham, VIC 3192 vs Mardan, VIC 3953
Head-to-head across core investment metrics: Cheltenham wins 2, Mardan 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 | Cheltenham | Mardan |
|---|---|---|
| Median house price | $1.3M | $1.3M |
| Median unit price | $700K | $640K |
| Gross rental yield (houses) | 3.09% | 2.01% |
| Gross rental yield (units) | 4.50% | 3.20% |
| 1-year house growth | +7.6% | - |
| 3-year house growth | -2.9% | - |
| Vacancy rate | 1.0% | 0.6% |
| Population | 23,992 | 248 |
Cheltenham vs Mardan: what the numbers say
Houses cost about the same in both suburbs: the median house price is $1.3M in Cheltenham and $1.3M in Mardan.
For units, Cheltenham sits at a median of $700K against $640K in Mardan, which makes Mardan the more affordable unit market and Cheltenham the pricier one.
On cash flow, Cheltenham leads: houses there return a gross rental yield of 3.09%, compared with 2.01% in Mardan, a gap of 1.08 percentage points.
Rental vacancy is 0.6% in Mardan and 1.0% in Cheltenham, so landlords in Mardan face less competition for tenants. Anything under 2% is generally read as a tight market where tenants compete for homes.
Cheltenham is the bigger suburb, with a population of 23,992 against 248, roughly 97 times the size of Mardan; a larger suburb usually means a deeper pool of buyers and tenants.
In short: Cheltenham for rental income, Mardan 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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