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Cranbourne, VIC 3977
Suburb profile: median house and unit prices, rental yield, capital growth, vacancy and demographics
Data updated
Median House
$720,000
market range $675K-$800K
Median Unit
$540,000
market range $500K-$575K
Gross Yield (houses)
4.0%
1yr Growth (houses)
+6.4%
market range +5.0% to +12.5%
Investment snapshot for Cranbourne
Cranbourne has enough public data for first-pass screening across yield, vacancy, price and supply signals.
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Cranbourne market and investor summary
In Cranbourne, VIC 3977, the median house sells for around $720K, on a gross rental yield of 4.0% for houses. House prices have moved +6.4% over the past year and +9.9% over three years. At 1.9% vacancy, it is a tight rental market that favours landlords.
For an investor, the rent-to-price profile sits mid-range: a gross house yield near 4.0% is neither a standout cashflow play nor a pure growth bet. Rental demand looks steady, with vacancy at 1.9% and a resident base that is not shrinking.
Living in Cranbourne: people, income and schools
Cranbourne has a resident population of roughly 21,281, and the area has been growing steadily, up about 16% over five years. At a median age of 35, it reads as broadly working-age, and families account for 72% of households.
The typical household income runs to around $77,000 a year (about $1,480 a week). On socio-economic measures it ranks around the national middle on the ABS advantage index (6 out of 10). At current prices a median house runs to a steep 9.4 times local household income, so affordability is a genuine constraint on local buyers. Incomes have risen about 22% over five years, which tends to underpin what local buyers can pay.
Families have 29 schools within roughly 5km to choose from, testing below the national school average on ICSEA. Cranbourne sits about 42 km from the CBD. It is fairly car-dependent; the suburb scores 43 for walkability and 99 for transit out of 100. Fixed broadband is delivered over the NBN's Fibre to the Premises.
- Population
- 21,281
- +16% over 5yr
- Median age
- 35 years
- Median household income
- $77,000/yr
- Households renting
- 34%
- Family households
- 72%
- Socio-economic rank
- 6/10
- ABS advantage index
- Schools within 5km
- 29
- avg ICSEA 938
- Unemployment
- 5.7%
- Distance to CBD
- 42 km
- Walk score
- 43/100
Demographic, school and socio-economic figures are sourced from the ABS Census, SEIFA and ACARA. Property metrics reflect PropRadar's latest data.
Properties in Cranbourne
View all →Frequently asked questions about Cranbourne
What should I check before investing in Cranbourne?
Cranbourne has enough public data for first-pass screening across yield, vacancy, price and supply signals. Unit gross rental yield of 4.8% gives a usable rent-to-price starting point. Capital growth of +6.4% in the past year shows positive recent price momentum. Compare those signals with nearby suburbs and individual listings before relying on the suburb-level view.
What are typical property prices in Cranbourne?
The median property price in Cranbourne, VIC 3977 is $720K for houses and $540K for units.
What rental yield does Cranbourne show?
The gross rental yield in Cranbourne is 4.0% for houses and 4.8% for units. Gross yield is calculated as annual rent divided by property price, and it doesn't account for expenses or tax.
What does recent house price growth show for Cranbourne?
House prices in Cranbourne are up 6.4% over the past year and up 9.9% over three years. Capital growth is a key driver of total investment return, so pair it with rental yield to get a full picture.
How tight is the rental market in Cranbourne?
The current vacancy rate in Cranbourne is 1.9%. A rate under 2% generally signals a tight rental market. This suburb's rental market is very tight, with landlords typically holding strong bargaining power and low rental downtime.
How many people live in Cranbourne?
Cranbourne has a population of approximately 21,281 residents, with a median age of 35.
What schools are near Cranbourne?
There are 29 schools within roughly 5km of Cranbourne. Their average ICSEA is below the national mean of 1000. ICSEA is the ABS measure of a school community's socio-educational advantage.
Is Cranbourne affordable to buy in?
A median house in Cranbourne costs about 9.4 times the median local household income (a high multiple that makes the suburb a stretch for median local earners). The ratio compares the median house price with annual household income; it is a rough affordability gauge, not a substitute for your own borrowing assessment.
Is Cranbourne's population growing?
The population of Cranbourne has grown about 16% over the past five years, an above-average pace. Population growth feeds underlying housing demand, so it is worth weighing alongside price and yield.
How far is Cranbourne from the CBD?
Cranbourne is about 42 km from the CBD.
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