Coolaroo is a smaller suburb in Victoria within the Hume local government area (postcode 3048). With a population of 3,193, the suburb has a mix of young professionals and families with a median age of 37. Households earn a median income of $53K per year, with an average household size of 2.9 people. The most common occupations are machinery operators & drivers, community & personal service, labourers. The top ancestries reported are Australian, English, Lebanese.
The median house price in Coolaroo is $540,000, having risen modestly 1.8% over the past year. The current median weekly rent is $480. This gives a gross rental yield of approximately 4.6%. The median monthly mortgage repayment is $1,324.
Coolaroo is served by 2 schools, including 1 primary, 1 combined. The average ICSEA score is 964, which is around the national average of 1,000. Public transport access includes 6 rail stations, 35 bus stops. The crime rate in the Hume LGA is higher than average at 8,365 incidents per 100,000 population.
From an investment perspective, Coolaroo offers a gross rental yield of 4.6%, rated as moderate yield. Property prices sit below the state median ($540K/$875K), suggesting a potential value opportunity. The price-to-income ratio of 10.1x is considered stretched. House prices have moved +1.8% year-on-year.
Coolaroo is a smaller suburb in Victoria within the Hume local government area (postcode 3048). With a population of 3,193, the suburb has a mix of young professionals and families with a median age of 37. Households earn a median income of $53K per year, with an average household size of 2.9 people. The most common occupations are machinery operators & drivers, community & personal service, labourers. The top ancestries reported are Australian, English, Lebanese.
The median house price in Coolaroo is $540,000, having risen modestly 1.8% over the past year. The current median weekly rent is $480. This gives a gross rental yield of approximately 4.6%. The median monthly mortgage repayment is $1,324.
Coolaroo is served by 2 schools, including 1 primary, 1 combined. The average ICSEA score is 964, which is around the national average of 1,000. Public transport access includes 6 rail stations, 35 bus stops. The crime rate in the Hume LGA is higher than average at 8,365 incidents per 100,000 population.
From an investment perspective, Coolaroo offers a gross rental yield of 4.6%, rated as moderate yield. Property prices sit below the state median ($540K/$875K), suggesting a potential value opportunity. The price-to-income ratio of 10.1x is considered stretched. House prices have moved +1.8% year-on-year.