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Devon Meadows, VIC 3977
Suburb profile: median house and unit prices, rental yield, capital growth, vacancy and demographics
Data updated
Median House
$775,000
list-price estimate
Median Unit
$670,000
market range $650K-$2.8M
Gross Yield (units)
4.0%
1yr Growth
-
Investment snapshot for Devon Meadows
Devon Meadows has enough public data for first-pass screening across yield, vacancy, price and supply signals.
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Devon Meadows market and investor summary
Devon Meadows sits in VIC, postcode 3977. At 6.2% vacancy, it is a softer rental market with more choice for tenants.
Demand is softer at 6.2% vacancy, so longer gaps between tenants are more likely and worth building into the numbers.
Living in Devon Meadows: people, income and schools
Devon Meadows is home to around 1,551 people, and the area has been growing steadily, up about 16% over five years. The median age is 44, skewed a little older, and 80% of homes are owner-occupied. Owner-occupiers dominate, so stock turns over slowly and listings can be thin when you are trying to buy.
Households here earn a median of about $93,000 a year, or roughly $1,790 a week. On socio-economic measures it ranks around the national middle on the ABS advantage index (6 out of 10). Incomes have risen about 22% over five years, which tends to underpin what local buyers can pay.
There are 6 schools within about 5km, testing a little above the national school average on ICSEA. It is roughly 49 km from the CBD. It is fairly car-dependent; the suburb scores 2 for walkability and 1 for transit out of 100. Fixed broadband is delivered over the NBN's Fixed Wireless.
- Population
- 1,551
- +16% over 5yr
- Median age
- 44 years
- Median household income
- $93,000/yr
- Households renting
- 13%
- Family households
- 81%
- Socio-economic rank
- 6/10
- ABS advantage index
- Schools within 5km
- 6
- avg ICSEA 1058
- Unemployment
- 5.7%
- Distance to CBD
- 49 km
- Walk score
- 2/100
Demographic, school and socio-economic figures are sourced from the ABS Census, SEIFA and ACARA. Property metrics reflect PropRadar's latest data.
Properties in Devon Meadows
View all →Frequently asked questions about Devon Meadows
What should I check before investing in Devon Meadows?
Devon Meadows has enough public data for first-pass screening across yield, vacancy, price and supply signals. Use the available metrics below to compare it with nearby suburbs before relying on the suburb-level view.
What are typical property prices in Devon Meadows?
The median property price in Devon Meadows, VIC 3977 is $670K for units.
What rental yield does Devon Meadows show?
The gross rental yield in Devon Meadows is 4.0% for units. Gross yield is calculated as annual rent divided by property price, and it doesn't account for expenses or tax.
How tight is the rental market in Devon Meadows?
The current vacancy rate in Devon Meadows is 6.2%. A rate under 2% generally signals a tight rental market. This suburb's rental market is softer, with tenants having more choice and rents possibly under pressure.
How many people live in Devon Meadows?
Devon Meadows has a population of approximately 1,551 residents, with a median age of 44.
What schools are near Devon Meadows?
There are 6 schools within roughly 5km of Devon Meadows. Their average ICSEA is a little above the national mean of 1000. ICSEA is the ABS measure of a school community's socio-educational advantage.
Is Devon Meadows's population growing?
The population of Devon Meadows 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 Devon Meadows from the CBD?
Devon Meadows is about 49 km from the CBD.
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