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Thomastown, VIC 3074
Suburb profile: median house and unit prices, rental yield, capital growth, vacancy and demographics
Data updated
Median House
$780,000
market range $750K-$825K
Median Unit
$610,000
market range $575K-$650K
Gross Yield (houses)
3.6%
1yr Growth (houses)
+5.1%
market range +0.0% to +7.5%
Investment snapshot for Thomastown
Thomastown has enough public data for first-pass screening across yield, vacancy, price and supply signals.
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Thomastown market and investor summary
Thomastown (VIC 3074) runs a median house price of $780K, with houses yielding a gross 3.6%. House prices have moved +5.1% over the past year and +14.3% over three years. At 1.1% vacancy, it is a tight rental market that favours landlords.
For an investor, the rent-to-price profile sits mid-range: a gross house yield near 3.6% is neither a standout cashflow play nor a pure growth bet.
Living in Thomastown: people, income and schools
Thomastown has a resident population of roughly 20,234, a count that has slipped about 3% over five years. The median age is 39, broadly working-age, and 72% 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 $64,000 a year, or roughly $1,230 a week. On socio-economic measures it ranks toward the more disadvantaged end of the ABS advantage index (1 out of 10). At current prices a median house runs to a steep 12.2 times local household income, so affordability is a genuine constraint on local buyers. Locally, around 36% of household income goes to mortgage repayments, a level usually flagged as mortgage stress.
There are 57 schools within about 5km, testing below the national school average on ICSEA. It is roughly 15 km from the CBD. Some errands can be done on foot, though a car still helps; the suburb scores 50 for walkability and 15 for transit out of 100. Fixed broadband is delivered over the NBN's Fibre to the Premises.
- Population
- 20,234
- -3% over 5yr
- Median age
- 39 years
- Median household income
- $64,000/yr
- Households renting
- 28%
- Family households
- 52%
- Socio-economic rank
- 1/10
- ABS advantage index
- Schools within 5km
- 57
- avg ICSEA 945
- Unemployment
- 10.0%
- Distance to CBD
- 15 km
- Walk score
- 50/100
Demographic, school and socio-economic figures are sourced from the ABS Census, SEIFA and ACARA. Property metrics reflect PropRadar's latest data.
Properties in Thomastown
View all →Frequently asked questions about Thomastown
What should I check before investing in Thomastown?
Thomastown has enough public data for first-pass screening across yield, vacancy, price and supply signals. Unit gross rental yield of 4.2% gives a usable rent-to-price starting point. Capital growth of +5.1% in the past year shows positive recent price momentum. Compare those signals with nearby suburbs and individual listings before relying on the suburb-level view.
What are typical property prices in Thomastown?
The median property price in Thomastown, VIC 3074 is $780K for houses and $610K for units.
What rental yield does Thomastown show?
The gross rental yield in Thomastown is 3.6% for houses and 4.2% 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 Thomastown?
House prices in Thomastown are up 5.1% over the past year and up 14.3% 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 Thomastown?
The current vacancy rate in Thomastown 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 Thomastown?
Thomastown has a population of approximately 20,234 residents, with a median age of 39.
What schools are near Thomastown?
There are 57 schools within roughly 5km of Thomastown. Their average ICSEA is below the national mean of 1000. ICSEA is the ABS measure of a school community's socio-educational advantage.
Is Thomastown affordable to buy in?
A median house in Thomastown costs about 12.2 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 Thomastown's population growing?
The population of Thomastown has fallen about 3% over five years. Population growth feeds underlying housing demand, so it is worth weighing alongside price and yield.
How far is Thomastown from the CBD?
Thomastown is about 15 km from the CBD.
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