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Garfield, VIC 3814
Suburb profile: median house and unit prices, rental yield, capital growth, vacancy and demographics
Data updated
Median House
$780,000
market range $725K-$900K
Median Unit
$575,000
market range $550K-$625K
Gross Yield (houses)
3.9%
1yr Growth (houses)
+2.5%
market range -2.5% to +15.0%
Investment snapshot for Garfield
Garfield has enough public data for first-pass screening across yield, vacancy, price and supply signals.
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Garfield market and investor summary
Garfield (VIC 3814) runs a median house price of $780K, with houses yielding a gross 3.9%. House prices have moved +2.5% over the past year and -6.6% over three years. At 1.1% 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 3.9% is neither a standout cashflow play nor a pure growth bet. Rental demand looks steady, with vacancy at 1.1% and a resident base that is not shrinking. Houses also take time to sell, around 72 days on market, so plan for a slower exit if you ever need one.
Living in Garfield: people, income and schools
About 2,114 people live in Garfield, and the area has been growing steadily, up about 7% over five years. The median age is 39, broadly working-age, and 84% 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 $87,000 a year, or roughly $1,680 a week. On socio-economic measures it ranks comfortably above the national middle (7 out of 10 on the ABS advantage index). At current prices a median house runs to about 8.9 times local household income, in line with much of metropolitan Australia. Incomes have risen about 14% over five years, which tends to underpin what local buyers can pay.
There are 4 schools within about 5km, testing close to the national school average on ICSEA. It is roughly 70 km from the CBD. It is fairly car-dependent; the suburb scores 8 for walkability and 39 for transit out of 100. Fixed broadband is delivered over the NBN's Fibre to the Premises.
- Population
- 2,114
- +7% over 5yr
- Median age
- 39 years
- Median household income
- $87,000/yr
- Households renting
- 11%
- Family households
- 79%
- Socio-economic rank
- 7/10
- ABS advantage index
- Schools within 5km
- 4
- avg ICSEA 1002
- Unemployment
- 3.0%
- Distance to CBD
- 70 km
- Walk score
- 8/100
Demographic, school and socio-economic figures are sourced from the ABS Census, SEIFA and ACARA. Property metrics reflect PropRadar's latest data.
Properties in Garfield
No properties currently listed in Garfield
Search Garfield listings →Frequently asked questions about Garfield
What should I check before investing in Garfield?
Garfield has enough public data for first-pass screening across yield, vacancy, price and supply signals. Solid unit gross rental yield of 5.0%, giving a stronger rent-to-price starting point than many suburbs. Tight rental market (1.1% vacancy) gives landlords pricing power and low rental downtime. Compare those signals with nearby suburbs and individual listings before relying on the suburb-level view.
What are typical property prices in Garfield?
The median property price in Garfield, VIC 3814 is $780K for houses and $575K for units.
What rental yield does Garfield show?
The gross rental yield in Garfield is 3.9% for houses and 5.0% 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 Garfield?
House prices in Garfield are up 2.5% over the past year and down 6.6% 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 Garfield?
The current vacancy rate in Garfield is 1.1%. 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 Garfield?
Garfield has a population of approximately 2,114 residents, with a median age of 39.
What schools are near Garfield?
There are 4 schools within roughly 5km of Garfield. Their average ICSEA is close to the national mean of 1000. ICSEA is the ABS measure of a school community's socio-educational advantage.
Is Garfield affordable to buy in?
A median house in Garfield costs about 8.9 times the median local household income (broadly in line with metropolitan Australia). 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 Garfield's population growing?
The population of Garfield has grown about 7% 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 Garfield from the CBD?
Garfield is about 70 km from the CBD.
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