Essendon is a large suburb in Victoria within the Moonee Valley local government area (postcode 3040). With a population of 21,240, the suburb has an established demographic with a median age of 39. Households earn a median income of $111K per year, with an average household size of 2.4 people. The most common occupations are professionals, managers, clerical & administrative. The top ancestries reported are English, Australian, Italian.
The median house price in Essendon is $1.7 million, having declined 3% over the past year. Units have a median price of $543,000 (+1.4% YoY). The current median weekly rent is $490. This gives a gross rental yield of approximately 1.5%. The median monthly mortgage repayment is $2,275.
Essendon is served by 7 schools, including 3 primary, 3 secondary, 1 combined. The average ICSEA score is 1117, which is well above the national average of 1,000. Public transport access includes 12 rail stations, 110 bus stops. The crime rate in the Moonee Valley LGA is moderate at 7,876 incidents per 100,000 population.
From an investment perspective, Essendon offers a gross rental yield of 1.5%, rated as low yield. Property prices are above the state median ($1.7M/$875K), placing it in the premium segment. The price-to-income ratio of 15.7x is considered stretched. House prices have moved -3.0% year-on-year.
Essendon is a large suburb in Victoria within the Moonee Valley local government area (postcode 3040). With a population of 21,240, the suburb has an established demographic with a median age of 39. Households earn a median income of $111K per year, with an average household size of 2.4 people. The most common occupations are professionals, managers, clerical & administrative. The top ancestries reported are English, Australian, Italian.
The median house price in Essendon is $1.7 million, having declined 3% over the past year. Units have a median price of $543,000 (+1.4% YoY). The current median weekly rent is $490. This gives a gross rental yield of approximately 1.5%. The median monthly mortgage repayment is $2,275.
Essendon is served by 7 schools, including 3 primary, 3 secondary, 1 combined. The average ICSEA score is 1117, which is well above the national average of 1,000. Public transport access includes 12 rail stations, 110 bus stops. The crime rate in the Moonee Valley LGA is moderate at 7,876 incidents per 100,000 population.
From an investment perspective, Essendon offers a gross rental yield of 1.5%, rated as low yield. Property prices are above the state median ($1.7M/$875K), placing it in the premium segment. The price-to-income ratio of 15.7x is considered stretched. House prices have moved -3.0% year-on-year.