Essendon vs Gherang
Property investment comparison - Essendon, VIC 3040 vs Gherang, VIC 3240
Head-to-head across core investment metrics: Essendon wins 2, Gherang 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 | Essendon | Gherang |
|---|---|---|
| Median house price | $1.8M | $1.8M |
| Median unit price | $600K | $605K |
| Gross rental yield (houses) | 2.28% | 2.34% |
| Gross rental yield (units) | 4.59% | 5.13% |
| 1-year house growth | +6.8% | - |
| 3-year house growth | +1.4% | - |
| Vacancy rate | 1.5% | 8.4% |
| Population | 21,240 | 391 |
Essendon vs Gherang: what the numbers say
The median house price is $1.8M in Essendon and $1.8M in Gherang, so Gherang is the cheaper entry point, with Essendon houses about 4% dearer.
For units, Essendon sits at a median of $600K against $605K in Gherang, which makes Essendon the more affordable unit market and Gherang the pricier one.
On cash flow, Gherang leads: houses there return a gross rental yield of 2.34%, compared with 2.28% in Essendon, a gap of 0.06 percentage points.
Rental vacancy is 1.5% in Essendon and 8.4% in Gherang, so landlords in Essendon face less competition for tenants. Anything under 2% is generally read as a tight market where tenants compete for homes.
Essendon is the bigger suburb, with a population of 21,240 against 391, roughly 54 times the size of Gherang; a larger suburb usually means a deeper pool of buyers and tenants.
In short: Gherang for rental income, Gherang for a lower purchase price, Essendon 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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