McKinnon (postcode 3204) is a medium-sized suburb in Victoria within the Glen Eira local government area. It is home to about 6,878 residents, with an established demographic and a median age of 40. Households earn a median income of $125K per year, with an average household size of 2.8 people. Recent annual estimates show population movement into the broader catchment, with population growth running at +1.6% 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, managers, clerical & administrative. Employment in the area leans toward professional services and healthcare. The top ancestries reported are English, Australian, Chinese.
The median house price in McKinnon is $1.8 million, having declined steeply by 8.5% over the past year. Units have a median price of $486,000 (-40.7% YoY). The current median weekly rent is $625. This gives a gross rental yield of approximately 1.8%. The median monthly mortgage repayment is $2,689.
McKinnon is served by 1 school, including 1 secondary. The average ICSEA score is 1118, which is well above the national average of 1,000. Public transport access includes 3 rail stations, 22 bus stops. The crime rate in the Glen Eira LGA is moderate at 4,737 incidents per 100,000 population.
On the investment side, McKinnon shows a gross rental yield of approximately 1.8%, rated as low yield. Property prices are above the state median ($1.8M/$875K), placing it in the premium segment. The price-to-income ratio of 14.6x is considered stretched. House prices have moved -8.5% year-on-year. Population growth of +1.6% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.