Highest rental yield suburbs in Melbourne
The top 25 suburbs in Melbourne by gross rental yield, ranked separately for houses and units. Gross yield is a year's median rent as a share of the median price. A suburb is ranked only when it has at least 10 sales of that dwelling type in the past year and a median price and rent that independent evidence agrees on, so a figure built from a handful of listings cannot top the table.
Highest rental yield suburbs in Melbourne: houses
Gross yield on the median house price and median weekly house rent.
| # | Suburb | Gross yield | Median price | Median rent |
|---|---|---|---|---|
| 1 | DallasVIC 3047 | 4.3% | $625,000 | $510/wk |
| 2 | CampbellfieldVIC 3061 | 4.2% | $705,000 | $540/wk |
| 3 | SelbyVIC 3159 | 4.2% | $870,000 | $705/wk |
| 4 | BroadmeadowsVIC 3047 | 4.2% | $660,000 | $520/wk |
| 5 | DovetonVIC 3177 | 4.1% | $655,000 | $530/wk |
| 6 | TarneitVIC 3029 | 4.1% | $680,000 | $525/wk |
| 7 | Wattle GlenVIC 3096 | 4.1% | $1,050,000 | $830/wk |
| 8 | JacanaVIC 3047 | 4.1% | $665,000 | $500/wk |
| 9 | CoolarooVIC 3048 | 4.0% | $645,000 | $500/wk |
| 10 | Launching PlaceVIC 3139 | 4.0% | $790,000 | - |
| 11 | BelgraveVIC 3160 | 3.9% | $885,000 | $650/wk |
| 12 | EumemmerringVIC 3177 | 3.9% | $730,000 | $575/wk |
| 13 | Carrum DownsVIC 3201 | 3.9% | $815,000 | $600/wk |
| 14 | Kings ParkVIC 3021 | 3.9% | $680,000 | $500/wk |
| 15 | KilsythVIC 3137 | 3.9% | $875,000 | $650/wk |
| 16 | LavertonVIC 3028 | 3.9% | $625,000 | $460/wk |
| 17 | MaidstoneVIC 3012 | 3.8% | $880,000 | $650/wk |
| 18 | EppingVIC 3076 | 3.8% | $745,000 | $550/wk |
| 19 | Springvale SouthVIC 3172 | 3.8% | $880,000 | $650/wk |
| 20 | KeysboroughVIC 3173 | 3.8% | $1,005,000 | $725/wk |
| 21 | Frankston NorthVIC 3200 | 3.8% | $715,000 | $520/wk |
| 22 | BurnsideVIC 3023 | 3.8% | $810,000 | $565/wk |
| 23 | GreenvaleVIC 3059 | 3.8% | $900,000 | $650/wk |
| 24 | TecomaVIC 3160 | 3.8% | $925,000 | $670/wk |
| 25 | DerrimutVIC 3026 | 3.7% | $840,000 | $600/wk |
Highest rental yield suburbs in Melbourne: units
Gross yield on the median unit price and median weekly unit rent.
| # | Suburb | Gross yield | Median price | Median rent |
|---|---|---|---|---|
| 1 | TravancoreVIC 3032 | 7.4% | $370,000 | $530/wk |
| 2 | ParkvilleVIC 3052 | 6.3% | $470,000 | $570/wk |
| 3 | DocklandsVIC 3008 | 6.3% | $580,000 | $720/wk |
| 4 | FootscrayVIC 3011 | 6.1% | $475,000 | $550/wk |
| 5 | North MelbourneVIC 3051 | 5.9% | $530,000 | $600/wk |
| 6 | CollingwoodVIC 3066 | 5.8% | $625,000 | $700/wk |
| 7 | CairnleaVIC 3023 | 5.8% | $415,000 | $500/wk |
| 8 | AbbotsfordVIC 3067 | 5.8% | $530,000 | $610/wk |
| 9 | South MelbourneVIC 3205 | 5.8% | $615,000 | $680/wk |
| 10 | RipponleaVIC 3185 | 5.7% | $470,000 | $540/wk |
| 11 | Brunswick EastVIC 3057 | 5.7% | $535,000 | $600/wk |
| 12 | DandenongVIC 3175 | 5.7% | $470,000 | $485/wk |
| 13 | OakleighVIC 3166 | 5.7% | $580,000 | $630/wk |
| 14 | MaribyrnongVIC 3032 | 5.6% | $500,000 | $535/wk |
| 15 | CremorneVIC 3121 | 5.6% | $620,000 | $690/wk |
| 16 | St KildaVIC 3182 | 5.6% | $520,000 | $550/wk |
| 17 | West FootscrayVIC 3012 | 5.6% | $430,000 | $480/wk |
| 18 | St Kilda EastVIC 3183 | 5.3% | $580,000 | $550/wk |
| 19 | BundooraVIC 3083 | 5.3% | $505,000 | $505/wk |
| 20 | FlemingtonVIC 3031 | 5.3% | $515,000 | $525/wk |
| 21 | Fitzroy NorthVIC 3068 | 5.3% | $710,000 | $650/wk |
| 22 | Caroline SpringsVIC 3023 | 5.2% | $495,000 | $520/wk |
| 23 | BrunswickVIC 3056 | 5.2% | $600,000 | $600/wk |
| 24 | Roxburgh ParkVIC 3064 | 5.2% | $500,000 | $495/wk |
| 25 | CoburgVIC 3058 | 5.2% | $590,000 | $580/wk |
How this ranking works
- Gross yield is the median weekly rent x 52, divided by the median sale price, for each dwelling type.
- A suburb is ranked only with at least 10 sales of that dwelling type in the past 12 months, at least 1,000 residents, and a median price that independent evidence agrees on.
- Yields outside 3% to 9.5% are left out: figures beyond that range usually describe a wider area than the suburb, not the suburb itself.
- Where several suburbs share one postcode's figures, only the largest is listed. A rent shown as a dash is not yet well enough supported to publish.
- Suburb figures are refreshed as new market data arrives, at most about once a fortnight. Gross yield is before costs; use the rental yield calculator for net yield and cashflow on a specific property.
Rental yields in other states and cities
Growth outlook
Melbourne suburbs by 12-month outlook
Where prices are expected to rise or ease, ranked within each state.
Investment guide
Where to invest in Melbourne
Yield, growth, affordability and tight rental markets in one guide.
Calculator
Rental yield calculator
Gross and net yield, cashflow after interest and DSCR for one property.
Rental yield in Melbourne: frequently asked questions
Which Melbourne suburbs have the highest rental yield for houses?
On current figures the highest gross yields for houses in Melbourne are in Dallas VIC 3047, Campbellfield VIC 3061 and Selby VIC 3159. Dallas VIC 3047 leads at 4.3%, with a median house price of $625,000.
Which Melbourne suburbs have the highest rental yield for units?
For units, the highest gross yields in Melbourne are in Travancore VIC 3032, Parkville VIC 3052 and Docklands VIC 3008. Travancore VIC 3032 leads at 7.4%, on a median rent of $530/wk.
How is gross rental yield calculated?
Gross rental yield = weekly rent x 52 / price x 100. A suburb's figure uses its median weekly rent and median sale price for that dwelling type. It is before costs: rates, insurance, management, maintenance, strata and vacancy usually take 1.5 to 2 percentage points off, which is the net yield.
Is the highest-yield suburb the best investment?
Not on its own. High yields often come with lower expected growth, a thinner buyer pool or more vacancy risk, and a high figure can reflect a fall in prices rather than a rise in rents. Use the ranking to find suburbs to research, then check each suburb's vacancy, growth outlook and recent sales.
How often are these rankings updated?
Suburb medians are refreshed as new market data arrives, at most about once a fortnight, and this page picks the changes up within a day.
General information only, not personal financial advice. Check a suburb's own page and recent sales before relying on any figure.