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Oak Park, VIC 3046
Suburb profile: median house and unit prices, rental yield, capital growth, vacancy and demographics
Data updated
Median House
$1,130,000
market range $1.1M-$1.3M
Median Unit
$665,000
market range $600K-$725K
Gross Yield (units)
4.3%
1yr Growth (houses)
-4.3%
market range -5.0% to +12.5%
Investment snapshot for Oak Park
Oak Park has enough public data for first-pass screening across yield, vacancy, price and supply signals.
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Oak Park market and investor summary
Oak Park (VIC 3046) runs a median house price of $1.1M. House prices have moved -4.3% over the past year and +4.2% over three years. At 1.5% vacancy, it is a tight rental market that favours landlords.
Rental demand looks steady, with vacancy at 1.5% and a resident base that is not shrinking.
Living in Oak Park: people, income and schools
About 6,714 people live in Oak Park, a number that has held fairly steady over five years. The median age is 36, broadly working-age, and families account for 71% of households.
Households here earn a median of about $114,000 a year, or roughly $2,200 a week. On socio-economic measures it ranks around the national middle on the ABS advantage index (5 out of 10). At current prices a median house runs to a steep 9.9 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.
There are 86 schools within about 5km, testing a little above the national school average on ICSEA. It is roughly 11 km from the CBD. Some errands can be done on foot, though a car still helps; the suburb scores 55 for walkability and 76 for transit out of 100. Fixed broadband is delivered over the NBN's Fibre to the Premises.
- Population
- 6,714
- +3% over 5yr
- Median age
- 36 years
- Median household income
- $114,000/yr
- Households renting
- 31%
- Family households
- 71%
- Socio-economic rank
- 5/10
- ABS advantage index
- Schools within 5km
- 86
- avg ICSEA 1091
- Unemployment
- 3.9%
- Distance to CBD
- 11 km
- Walk score
- 55/100
Demographic, school and socio-economic figures are sourced from the ABS Census, SEIFA and ACARA. Property metrics reflect PropRadar's latest data.
Properties in Oak Park
View all →Frequently asked questions about Oak Park
What should I check before investing in Oak Park?
Oak Park 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. Tight rental market (1.5% 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 Oak Park?
The median property price in Oak Park, VIC 3046 is $1.1M for houses and $665K for units.
What rental yield does Oak Park show?
The gross rental yield in Oak Park is 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 Oak Park?
House prices in Oak Park are down 4.3% over the past year and up 4.2% 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 Oak Park?
The current vacancy rate in Oak Park is 1.5%. 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 Oak Park?
Oak Park has a population of approximately 6,714 residents, with a median age of 36.
What schools are near Oak Park?
There are 86 schools within roughly 5km of Oak Park. 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 Oak Park affordable to buy in?
A median house in Oak Park costs about 9.9 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 Oak Park's population growing?
The population of Oak Park has grown modestly, about 3% over five years. Population growth feeds underlying housing demand, so it is worth weighing alongside price and yield.
How far is Oak Park from the CBD?
Oak Park is about 11 km from the CBD.
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