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McCrae, VIC 3938
Suburb profile: median house and unit prices, rental yield, capital growth, vacancy and demographics
Data updated
Median House
$1,200,000
market range $1.1M-$1.3M
Median Unit
$785,000
market range $700K-$875K
Gross Yield (houses)
3.4%
1yr Growth (houses)
-7.5%
market range -10.0% to +2.5%
Investment snapshot for McCrae
McCrae has enough public data for first-pass screening across yield, vacancy, price and supply signals.
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McCrae market and investor summary
McCrae (VIC 3938) runs a median house price of $1.2M, with houses yielding a gross 3.4%. House prices have moved -7.5% over the past year and -9.4% over three years. At 4.4% vacancy, it is a softer rental market with more choice for tenants.
For an investor, this reads as a capital-growth market more than a cashflow one. A gross house yield around 3.4% will not cover holding costs in the early years, so the case leans on price appreciation. Demand is softer at 4.4% vacancy, so longer gaps between tenants are more likely and worth building into the numbers.
Living in McCrae: people, income and schools
About 3,311 people live in McCrae, a number that has held fairly steady over five years. The median age is 55, an older, established demographic, and 81% 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 $75,000 a year, or roughly $1,430 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 a steep 16.1 times local household income, so affordability is a genuine constraint on local buyers. Locally, around 30% of household income goes to mortgage repayments, a level usually flagged as mortgage stress.
There are 8 schools within about 5km, testing a little above the national school average on ICSEA. It is roughly 61 km from the CBD. It is fairly car-dependent; the suburb scores 5 for walkability out of 100. Fixed broadband is delivered over the NBN's Fibre to the Node.
- Population
- 3,311
- +2% over 5yr
- Median age
- 55 years
- Median household income
- $75,000/yr
- Households renting
- 15%
- Family households
- 72%
- Socio-economic rank
- 7/10
- ABS advantage index
- Schools within 5km
- 8
- avg ICSEA 1023
- Unemployment
- 6.2%
- Distance to CBD
- 61 km
- Walk score
- 5/100
Demographic, school and socio-economic figures are sourced from the ABS Census, SEIFA and ACARA. Property metrics reflect PropRadar's latest data.
Properties in McCrae
No properties currently listed in McCrae
Search McCrae listings →Frequently asked questions about McCrae
What should I check before investing in McCrae?
McCrae has enough public data for first-pass screening across yield, vacancy, price and supply signals. Unit gross rental yield of 4.3% gives a usable rent-to-price starting point. Compare those signals with nearby suburbs and individual listings before relying on the suburb-level view.
What are typical property prices in McCrae?
The median property price in McCrae, VIC 3938 is $1.2M for houses and $785K for units.
What rental yield does McCrae show?
The gross rental yield in McCrae is 3.4% for houses and 4.3% 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 McCrae?
House prices in McCrae are down 7.5% over the past year and down 9.4% 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 McCrae?
The current vacancy rate in McCrae is 4.4%. 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 McCrae?
McCrae has a population of approximately 3,311 residents, with a median age of 55.
What schools are near McCrae?
There are 8 schools within roughly 5km of McCrae. 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 McCrae affordable to buy in?
A median house in McCrae costs about 16.1 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 McCrae's population growing?
The population of McCrae 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 McCrae from the CBD?
McCrae is about 61 km from the CBD.
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