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Port Melbourne, VIC 3207
Suburb profile: median house and unit prices, rental yield, capital growth, vacancy and demographics
Data updated
Median House
$1,500,000
list-price estimate
Median Unit
$740,000
market range $675K-$900K
Gross Yield (houses)
2.9%
1yr Growth (houses)
+0.0%
market range -5.0% to +7.5%
Investment snapshot for Port Melbourne
Port Melbourne has enough public data for first-pass screening across yield, vacancy, price and supply signals.
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Port Melbourne market and investor summary
In Port Melbourne, VIC 3207, houses show a gross rental yield of 2.9%. House prices have moved +0.0% over the past year and -8.8% over three years. At 1.1% 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 2.9% will not cover holding costs in the early years, so the case leans on price appreciation. Rental demand looks steady, with vacancy at 1.1% and a resident base that is not shrinking. If you are weighing units rather than houses, a pipeline of new approvals is worth watching as future supply that can hold back apartment price and rent growth.
Living in Port Melbourne: people, income and schools
Port Melbourne is home to around 17,633 people, a number that has held fairly steady over five years. The median age is 42, skewed a little older, and families account for 59% of households.
Households here earn a median of about $123,000 a year, or roughly $2,370 a week. On socio-economic measures it ranks among the most advantaged in the country (10 out of 10 on the ABS advantage index). Incomes have risen about 13% over five years, which tends to underpin what local buyers can pay.
There are 69 schools within about 5km, and they test well above the national school average on ICSEA, a draw for education-focused families. It is roughly 4.2 km from the CBD. Most day-to-day errands are doable on foot; the suburb scores 84 for walkability and 90 for transit out of 100. Fixed broadband is delivered over the NBN's Fibre to the Curb.
- Population
- 17,633
- +0% over 5yr
- Median age
- 42 years
- Median household income
- $123,000/yr
- Households renting
- 43%
- Family households
- 59%
- Socio-economic rank
- 10/10
- ABS advantage index
- Schools within 5km
- 69
- avg ICSEA 1118
- Unemployment
- 4.4%
- Distance to CBD
- 4.2 km
- Walk score
- 84/100
Demographic, school and socio-economic figures are sourced from the ABS Census, SEIFA and ACARA. Property metrics reflect PropRadar's latest data.
Properties in Port Melbourne
View all →Frequently asked questions about Port Melbourne
What should I check before investing in Port Melbourne?
Port Melbourne has enough public data for first-pass screening across yield, vacancy, price and supply signals. Unit gross rental yield of 5.0% gives a usable rent-to-price starting point. Tight rental market (1.1% 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 Port Melbourne?
The median property price in Port Melbourne, VIC 3207 is $740K for units.
What rental yield does Port Melbourne show?
The gross rental yield in Port Melbourne is 2.9% for houses and 5.0% 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 Port Melbourne?
House prices in Port Melbourne are up 0.0% over the past year and down 8.8% 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 Port Melbourne?
The current vacancy rate in Port Melbourne is 1.1%. 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 Port Melbourne?
Port Melbourne has a population of approximately 17,633 residents, with a median age of 42.
What schools are near Port Melbourne?
There are 69 schools within roughly 5km of Port Melbourne. Their average ICSEA sits well above the national mean of 1000, which points to a more advantaged school catchment. ICSEA is the ABS measure of a school community's socio-educational advantage.
Is Port Melbourne's population growing?
The population of Port Melbourne 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 Port Melbourne from the CBD?
Port Melbourne is about 4.2 km from the CBD.
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