Located in Victoria within the Melbourne local government area, Carlton is a well-established suburb (postcode 3053). The area has roughly 16,055 residents and a younger, working-age population, with a median age of 27. Households earn a median income of $67K per year, with an average household size of 1.8 people. Recent annual estimates show population movement into the broader catchment, with population growth running at +3.7% year-on-year at the LGA level. VIC employment has moved +0.9% year-on-year in the official Jobs and Skills Australia NERO series, which provides the broader jobs backdrop for this suburb. VIC also had 45 Commonwealth-backed major projects under construction, 17 underway, and 27 in planning as at 2 October 2024, which is useful as a broader delivery backdrop rather than a suburb-specific project count. The most common occupations are professionals, community & personal service, clerical & administrative. Employment in the area leans toward professional services and accommodation & food. The top ancestries reported are Chinese, English, Australian.
Carlton has a median house price of $1.4 million, which has fallen by 7.3% year-on-year. Units have a median price of $323,000 (-21.1% YoY). The current median weekly rent is $620. This gives a gross rental yield of approximately 2.3%. The median monthly mortgage repayment is $1,898.
Carlton is served by 2 schools, including 2 primary. The average ICSEA score is 1045, which is around the national average of 1,000. Public transport access includes 53 bus stops. Healthcare facilities include 1 public hospital. The crime rate in the Melbourne LGA is higher than average at 23,998 incidents per 100,000 population.
Looking at the investment signals, Carlton shows a gross rental yield of approximately 2.3%, rated as low yield. Property prices are above the state median ($1.4M/$875K), placing it in the premium segment. The price-to-income ratio of 20.7x is considered stretched. House prices have moved -7.3% year-on-year. Population growth of +3.7% year-on-year points to strong growth demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.