Happy Valley vs Kilmore
Property investment comparison - Happy Valley, VIC 3360 vs Kilmore, VIC 3764
Head-to-head across core investment metrics: Happy Valley wins 0, Kilmore 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 | Happy Valley | Kilmore |
|---|---|---|
| Median house price | $630K | $630K |
| Median unit price | - | $445K |
| Gross rental yield (houses) | 2.93% | 4.15% |
| Gross rental yield (units) | - | 4.80% |
| 1-year house growth | - | +2.6% |
| 3-year house growth | - | +3.4% |
| Vacancy rate | 2.0% | 1.4% |
| Population | 162 | 9,207 |
Happy Valley vs Kilmore: what the numbers say
Houses cost about the same in both suburbs: the median house price is $630K in Happy Valley and $630K in Kilmore.
On cash flow, Kilmore leads: houses there return a gross rental yield of 4.15%, compared with 2.93% in Happy Valley, a gap of 1.22 percentage points.
Rental vacancy is 1.4% in Kilmore and 2.0% in Happy Valley, so landlords in Kilmore face less competition for tenants. Anything under 2% is generally read as a tight market where tenants compete for homes.
Kilmore is the bigger suburb, with a population of 9,207 against 162, roughly 57 times the size of Happy Valley; a larger suburb usually means a deeper pool of buyers and tenants.
In short: Kilmore for rental income, Kilmore 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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