Melbourne Suburb Profile

Victoria 3004

Melbourne has 13,566 properties. Over the last 5 years, Houses in Melbourne have seen a 113.98% increase in median value, while Units have seen a 0.22% increase. As at 31 May 2024:

• The median value for Houses in Melbourne is $1,992,441 while the median value for Units is $651,715.
• Houses have a median rent of $578 while Units have a median rent of $630.

The size of Melbourne is approximately 3.8 square kilometres. It has 14 parks covering nearly 74.2% of total area. The population of Melbourne in 2011 was 28,370 people. By 2016 the population was 47,293 showing a population growth of 66.7% in the area during that time. The predominant age group in Melbourne is 20-29 years. Households in Melbourne are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Melbourne work in a professional occupation. In 2011, 34.7% of the homes in Melbourne were owner-occupied compared with 29% in 2016.