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Korumburra, VIC 3950
Suburb profile: median house and unit prices, rental yield, capital growth, vacancy and demographics
Data updated
Median House
$620,000
market range $550K-$675K
Median Unit
$450,000
market range $400K-$475K
Gross Yield (houses)
4.3%
1yr Growth (houses)
+4.4%
market range +0.0% to +12.5%
Investment snapshot for Korumburra
Korumburra has enough public data for first-pass screening across yield, vacancy, price and supply signals.
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Korumburra market and investor summary
In Korumburra, VIC 3950, the median house sells for around $620K, on a gross rental yield of 4.3% for houses. House prices have moved +4.4% over the past year. At 0.7% 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 4.3% is neither a standout cashflow play nor a pure growth bet. Rental demand looks steady, with vacancy at 0.7% and a resident base that is not shrinking.
Living in Korumburra: people, income and schools
Korumburra is home to around 4,749 people, a number that has held fairly steady over five years. At a median age of 47, it reads as skewed a little older, and 77% of homes are owner-occupied. Owner-occupiers dominate, so stock turns over slowly and listings can be thin when you are trying to buy.
The typical household income runs to around $61,000 a year (about $1,180 a week). On socio-economic measures it ranks toward the more disadvantaged end of the ABS advantage index (2 out of 10). At current prices a median house runs to a steep 10.1 times local household income, so affordability is a genuine constraint on local buyers. Locally, around 33% of household income goes to mortgage repayments, a level usually flagged as mortgage stress.
Families have 3 schools within roughly 5km to choose from, testing close to the national school average on ICSEA. It is fairly car-dependent; the suburb scores 12 for walkability and 6 for transit out of 100. Fixed broadband is delivered over the NBN's Fibre to the Node.
- Population
- 4,749
- +3% over 5yr
- Median age
- 47 years
- Median household income
- $61,000/yr
- Households renting
- 19%
- Family households
- 66%
- Socio-economic rank
- 2/10
- ABS advantage index
- Schools within 5km
- 3
- avg ICSEA 978
- Unemployment
- 2.5%
- Walk score
- 12/100
Demographic, school and socio-economic figures are sourced from the ABS Census, SEIFA and ACARA. Property metrics reflect PropRadar's latest data.
Properties in Korumburra
No properties currently listed in Korumburra
Search Korumburra listings →Frequently asked questions about Korumburra
What should I check before investing in Korumburra?
Korumburra has enough public data for first-pass screening across yield, vacancy, price and supply signals. House gross rental yield of 4.3% gives a usable rent-to-price starting point. Capital growth of +4.4% 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 Korumburra?
The median property price in Korumburra, VIC 3950 is $620K for houses and $450K for units.
What rental yield does Korumburra show?
The gross rental yield in Korumburra is 4.3% for houses. 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 Korumburra?
House prices in Korumburra are up 4.4% over the past year. 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 Korumburra?
The current vacancy rate in Korumburra is 0.7%. 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 Korumburra?
Korumburra has a population of approximately 4,749 residents, with a median age of 47.
What schools are near Korumburra?
There are 3 schools within roughly 5km of Korumburra. 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 Korumburra affordable to buy in?
A median house in Korumburra costs about 10.1 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 Korumburra's population growing?
The population of Korumburra has grown modestly, about 3% over five years. Population growth feeds underlying housing demand, so it is worth weighing alongside price and yield.
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