Killara vs Mepunga
Property investment comparison - Killara, VIC 3691 vs Mepunga, VIC 3277
Head-to-head across core investment metrics: Killara wins 1, Mepunga wins 4. 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 | Killara | Mepunga |
|---|---|---|
| Median house price | $775K | $770K |
| Median unit price | $445K | $375K |
| Gross rental yield (houses) | 4.20% | 3.61% |
| Gross rental yield (units) | 4.06% | 6.24% |
| 1-year house growth | +16.4%estimate | - |
| 3-year house growth | - | - |
| Vacancy rate | 3.3% | 1.6% |
| Population | 1,485 | 36 |
Killara vs Mepunga: what the numbers say
The median house price is $775K in Killara and $770K in Mepunga, so Mepunga is the cheaper entry point, with Killara houses about 1% dearer.
For units, Killara sits at a median of $445K against $375K in Mepunga, which makes Mepunga the more affordable unit market and Killara the pricier one.
On cash flow, Killara leads: houses there return a gross rental yield of 4.20%, compared with 3.61% in Mepunga, a gap of 0.59 percentage points.
Rental vacancy is 1.6% in Mepunga and 3.3% in Killara, so landlords in Mepunga face less competition for tenants. Anything under 2% is generally read as a tight market where tenants compete for homes.
Killara is the bigger suburb, with a population of 1,485 against 36, roughly 41 times the size of Mepunga; a larger suburb usually means a deeper pool of buyers and tenants.
In short: Killara for rental income, Mepunga for a lower purchase price, Mepunga 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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