Lucas vs Naringal
Property investment comparison - Lucas, VIC 3350 vs Naringal, VIC 3277
Head-to-head across core investment metrics: Lucas wins 3, Naringal 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 | Lucas | Naringal |
|---|---|---|
| Median house price | $645K | $645K |
| Median unit price | $375K | $725K |
| Gross rental yield (houses) | 3.91% | 4.35% |
| Gross rental yield (units) | 5.30% | 3.16% |
| 1-year house growth | +4.0% | - |
| 3-year house growth | +0.8% | - |
| Vacancy rate | 0.8% | 1.6% |
| Population | 2,994 | 124 |
Lucas vs Naringal: what the numbers say
Houses cost about the same in both suburbs: the median house price is $645K in Lucas and $645K in Naringal.
For units, Lucas sits at a median of $375K against $725K in Naringal, which makes Lucas the more affordable unit market and Naringal the pricier one.
On cash flow, Naringal leads: houses there return a gross rental yield of 4.35%, compared with 3.91% in Lucas, a gap of 0.44 percentage points.
Rental vacancy is 0.8% in Lucas and 1.6% in Naringal, so landlords in Lucas face less competition for tenants. Anything under 2% is generally read as a tight market where tenants compete for homes.
Lucas is the bigger suburb, with a population of 2,994 against 124, roughly 24 times the size of Naringal; a larger suburb usually means a deeper pool of buyers and tenants.
In short: Naringal for rental income, Lucas 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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