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Essendon, VIC 3040
Suburb profile: median house and unit prices, rental yield, capital growth, vacancy and demographics
Data updated
Median House
$1,820,000
market range $1.8M-$1.9M
Median Unit
$600,000
market range $525K-$650K
Gross Yield (houses)
2.3%
1yr Growth (houses)
+6.8%
market range -2.5% to +15.0%
Investment snapshot for Essendon
Essendon has enough public data for first-pass screening across yield, vacancy, price and supply signals.
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Essendon market and investor summary
Essendon (VIC 3040) runs a median house price of $1.8M, with houses yielding a gross 2.3%. House prices have moved +6.8% over the past year and +1.4% over three years. At 1.5% vacancy, it is a tight rental market that favours landlords.
For an investor, this reads as a capital-growth market more than a cashflow one. A gross house yield around 2.3% will not cover holding costs in the early years, so the case leans on price appreciation. Rental demand looks steady, with vacancy at 1.5% and a resident base that is not shrinking.
Living in Essendon: people, income and schools
About 21,240 people live in Essendon, a number that has held fairly steady over five years. The median age is 39, broadly working-age.
Households here earn a median of about $111,000 a year, or roughly $2,130 a week. On socio-economic measures it ranks among the most advantaged in the country (9 out of 10 on the ABS advantage index). At current prices a median house runs to a steep 16.4 times local household income, so affordability is a genuine constraint on local buyers. Incomes have risen about 15% over five years, which tends to underpin what local buyers can pay.
There are 78 schools within about 5km, and they test well above the national school average on ICSEA, a draw for education-focused families. It is roughly 8.4 km from the CBD. Most day-to-day errands are doable on foot; the suburb scores 71 for walkability and 100 for transit out of 100. Fixed broadband is delivered over the NBN's Fibre to the Curb.
- Population
- 21,240
- +2% over 5yr
- Median age
- 39 years
- Median household income
- $111,000/yr
- Households renting
- 38%
- Family households
- 48%
- Socio-economic rank
- 9/10
- ABS advantage index
- Schools within 5km
- 78
- avg ICSEA 1110
- Unemployment
- 3.8%
- Distance to CBD
- 8.4 km
- Walk score
- 71/100
Demographic, school and socio-economic figures are sourced from the ABS Census, SEIFA and ACARA. Property metrics reflect PropRadar's latest data.
Properties in Essendon
View all →Frequently asked questions about Essendon
What should I check before investing in Essendon?
Essendon has enough public data for first-pass screening across yield, vacancy, price and supply signals. Unit gross rental yield of 4.6% gives a usable rent-to-price starting point. Capital growth of +6.8% 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 Essendon?
The median property price in Essendon, VIC 3040 is $1.8M for houses and $600K for units.
What rental yield does Essendon show?
The gross rental yield in Essendon is 2.3% for houses and 4.6% 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 Essendon?
House prices in Essendon are up 6.8% over the past year and up 1.4% 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 Essendon?
The current vacancy rate in Essendon is 1.5%. 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 Essendon?
Essendon has a population of approximately 21,240 residents, with a median age of 39.
What schools are near Essendon?
There are 78 schools within roughly 5km of Essendon. Their average ICSEA sits well above the national mean of 1000, which points to a more advantaged school catchment. ICSEA is the ABS measure of a school community's socio-educational advantage.
Is Essendon affordable to buy in?
A median house in Essendon costs about 16.4 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 Essendon's population growing?
The population of Essendon has grown modestly, about 2% over five years. Population growth feeds underlying housing demand, so it is worth weighing alongside price and yield.
How far is Essendon from the CBD?
Essendon is about 8.4 km from the CBD.
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