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Mulgrave, VIC 3170
Suburb profile: median house and unit prices, rental yield, capital growth, vacancy and demographics
Data updated
Median House
$1,125,000
market range $1.1M-$1.3M
Median Unit
$850,000
market range $800K-$875K
Gross Yield (houses)
3.1%
1yr Growth (houses)
+2.3%
market range -5.0% to +7.5%
Investment snapshot for Mulgrave
Mulgrave has enough public data for first-pass screening across yield, vacancy, price and supply signals.
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Mulgrave market and investor summary
Mulgrave (VIC 3170) runs a median house price of $1.1M, with houses yielding a gross 3.1%. House prices have moved +2.3% over the past year and +14.7% over three years. At 1.9% 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 3.1% will not cover holding costs in the early years, so the case leans on price appreciation. Rental demand looks steady, with vacancy at 1.9% and a resident base that is not shrinking.
Living in Mulgrave: people, income and schools
Mulgrave is home to around 19,889 people, a number that has held fairly steady over five years. The median age is 40, skewed a little older, and 75% 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 $99,000 a year, or roughly $1,910 a week. On socio-economic measures it ranks comfortably above the national middle (8 out of 10 on the ABS advantage index). At current prices a median house runs to a steep 11.3 times local household income, so affordability is a genuine constraint on local buyers. Incomes have risen about 16% over five years, which tends to underpin what local buyers can pay.
There are 50 schools within about 5km, testing a little above the national school average on ICSEA. It is roughly 22 km from the CBD. Some errands can be done on foot, though a car still helps; the suburb scores 60 for walkability and 8 for transit out of 100. Fixed broadband is delivered over the NBN's Hybrid Fibre Coaxial (HFC).
- Population
- 19,889
- +2% over 5yr
- Median age
- 40 years
- Median household income
- $99,000/yr
- Households renting
- 22%
- Family households
- 79%
- Socio-economic rank
- 8/10
- ABS advantage index
- Schools within 5km
- 50
- avg ICSEA 1035
- Unemployment
- 2.7%
- Distance to CBD
- 22 km
- Walk score
- 60/100
Demographic, school and socio-economic figures are sourced from the ABS Census, SEIFA and ACARA. Property metrics reflect PropRadar's latest data.
Properties in Mulgrave
View all →Frequently asked questions about Mulgrave
What should I check before investing in Mulgrave?
Mulgrave has enough public data for first-pass screening across yield, vacancy, price and supply signals. Tight rental market (1.9% 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 Mulgrave?
The median property price in Mulgrave, VIC 3170 is $1.1M for houses and $850K for units.
What rental yield does Mulgrave show?
The gross rental yield in Mulgrave is 3.1% 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 Mulgrave?
House prices in Mulgrave are up 2.3% over the past year and up 14.7% 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 Mulgrave?
The current vacancy rate in Mulgrave is 1.9%. 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 Mulgrave?
Mulgrave has a population of approximately 19,889 residents, with a median age of 40.
What schools are near Mulgrave?
There are 50 schools within roughly 5km of Mulgrave. 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 Mulgrave affordable to buy in?
A median house in Mulgrave costs about 11.3 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 Mulgrave's population growing?
The population of Mulgrave 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 Mulgrave from the CBD?
Mulgrave is about 22 km from the CBD.
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