Gapsted vs Mulgrave
Property investment comparison - Gapsted, VIC 3737 vs Mulgrave, VIC 3170
Head-to-head across core investment metrics: Gapsted wins 2, Mulgrave 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 | Gapsted | Mulgrave |
|---|---|---|
| Median house price | $1.1M | $1.1M |
| Median unit price | $505K | $850K |
| Gross rental yield (houses) | 2.73% | 3.14% |
| Gross rental yield (units) | 3.55% | - |
| 1-year house growth | - | +2.3% |
| 3-year house growth | - | +14.7% |
| Vacancy rate | 1.8% | 1.9% |
| Population | 156 | 19,889 |
Gapsted vs Mulgrave: what the numbers say
Houses cost about the same in both suburbs: the median house price is $1.1M in Gapsted and $1.1M in Mulgrave.
For units, Gapsted sits at a median of $505K against $850K in Mulgrave, which makes Gapsted the more affordable unit market and Mulgrave the pricier one.
On cash flow, Mulgrave leads: houses there return a gross rental yield of 3.14%, compared with 2.73% in Gapsted, a gap of 0.41 percentage points.
Rental vacancy is 1.8% in Gapsted and 1.9% in Mulgrave, so landlords in Gapsted face less competition for tenants. Anything under 2% is generally read as a tight market where tenants compete for homes.
Mulgrave is the bigger suburb, with a population of 19,889 against 156, roughly 127 times the size of Gapsted; a larger suburb usually means a deeper pool of buyers and tenants.
In short: Mulgrave for rental income, Gapsted 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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