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Milltown, VIC 3304
Suburb profile: median house and unit prices, rental yield, capital growth, vacancy and demographics
Data updated
Median House
$590,000
list-price estimate
Median Unit
$395,000
Gross Yield (houses)
5.2%
1yr Growth
-
Investment snapshot for Milltown
Milltown has enough public data for first-pass screening across yield, vacancy, price and supply signals.
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Milltown market and investor summary
In Milltown, VIC 3304, houses show a gross rental yield of 5.2%. At 0.5% vacancy, it is a tight rental market that favours landlords.
For an investor, the rent-to-price maths here leans toward cashflow: a gross house yield near 5.2% does more of the early heavy lifting than capital growth usually would at this price point. Houses also take time to sell, around 121 days on market, so plan for a slower exit if you ever need one.
Living in Milltown: people, income and schools
Milltown is home to around 46 people, a number that has held fairly steady over five years. The median age is 54, an older, established demographic, 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 $49,000 a year, or roughly $950 a week. On socio-economic measures it ranks toward the more disadvantaged end of the ABS advantage index (2 out of 10).
Fixed broadband is delivered over the NBN's Fixed Wireless.
- Population
- 46
- -1% over 5yr
- Median age
- 54 years
- Median household income
- $49,000/yr
- Households renting
- 16%
- Family households
- 43%
- Socio-economic rank
- 2/10
- ABS advantage index
- Unemployment
- 2.3%
Demographic, school and socio-economic figures are sourced from the ABS Census, SEIFA and ACARA. Property metrics reflect PropRadar's latest data.
Properties in Milltown
No properties currently listed in Milltown
Search Milltown listings →Frequently asked questions about Milltown
What should I check before investing in Milltown?
Milltown has enough public data for first-pass screening across yield, vacancy, price and supply signals. Solid house gross rental yield of 5.2%, giving a stronger rent-to-price starting point than many suburbs. Tight rental market (0.5% 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 Milltown?
The median property price in Milltown, VIC 3304 is $395K for units.
What rental yield does Milltown show?
The gross rental yield in Milltown is 5.2% for houses and 2.2% 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 Milltown?
The current vacancy rate in Milltown is 0.5%. 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 Milltown?
Milltown has a population of approximately 46 residents, with a median age of 54.
Is Milltown's population growing?
The population of Milltown has held roughly flat over five years. Population growth feeds underlying housing demand, so it is worth weighing alongside price and yield.
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