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Parkville, VIC 3052
Suburb profile: median house and unit prices, rental yield, capital growth, vacancy and demographics
Data updated
Median House
$1,770,000
market range $1.7M-$1.9M
Median Unit
$470,000
market range $425K-$500K
Gross Yield (houses)
3.1%
1yr Growth (houses)
-2.8%
market range -12.5% to +5.0%
Investment snapshot for Parkville
Parkville has enough public data for first-pass screening across yield, vacancy, price and supply signals.
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Parkville market and investor summary
Parkville (VIC 3052) runs a median house price of $1.8M, with houses yielding a gross 3.1%. House prices have moved -2.8% over the past year and -28.9% over three years. At 0.9% 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.
Living in Parkville: people, income and schools
About 7,074 people live in Parkville, a number that has held fairly steady over five years. The median age is 26, younger than the national median, with renters making up 64% of households. That renter share gives landlords a deep tenant pool to draw on through the year.
Households here earn a median of about $98,000 a year, or roughly $1,890 a week. On socio-economic measures it ranks among the most advantaged in the country (10 out of 10 on the ABS advantage index). At current prices a median house runs to a steep 18.1 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 112 schools within about 5km. It is roughly 3.1 km from the CBD. Most day-to-day errands are doable on foot; the suburb scores 80 for walkability and 97 for transit out of 100. Fixed broadband is delivered over the NBN's Fibre to the Premises.
- Population
- 7,074
- -0% over 5yr
- Median age
- 26 years
- Median household income
- $98,000/yr
- Households renting
- 64%
- Family households
- 48%
- Socio-economic rank
- 10/10
- ABS advantage index
- Schools within 5km
- 112
- Unemployment
- 4.9%
- Distance to CBD
- 3.1 km
- Walk score
- 80/100
Demographic, school and socio-economic figures are sourced from the ABS Census, SEIFA and ACARA. Property metrics reflect PropRadar's latest data.
Properties in Parkville
View all →Frequently asked questions about Parkville
What should I check before investing in Parkville?
Parkville has enough public data for first-pass screening across yield, vacancy, price and supply signals. Strong unit gross rental yield of 6.3%, before expenses, tax and loan costs. Tight rental market (0.9% 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 Parkville?
The median property price in Parkville, VIC 3052 is $1.8M for houses and $470K for units.
What rental yield does Parkville show?
The gross rental yield in Parkville is 3.1% for houses and 6.3% 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 Parkville?
House prices in Parkville are down 2.8% over the past year and down 28.9% 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 Parkville?
The current vacancy rate in Parkville is 0.9%. 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 Parkville?
Parkville has a population of approximately 7,074 residents, with a median age of 26.
What schools are near Parkville?
There are 112 schools within roughly 5km of Parkville. ICSEA is the ABS measure of a school community's socio-educational advantage.
Is Parkville affordable to buy in?
A median house in Parkville costs about 18.1 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 Parkville's population growing?
The population of Parkville has held roughly flat over five years. Population growth feeds underlying housing demand, so it is worth weighing alongside price and yield.
How far is Parkville from the CBD?
Parkville is about 3.1 km from the CBD.
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