McKinnon is a mid-sized suburb in Victoria within the Glen Eira local government area (postcode 3204). With a population of 6,878, the suburb has an established demographic with a median age of 40. Households earn a median income of $125K per year, with an average household size of 2.8 people. The most common occupations are professionals, managers, clerical & administrative. The top ancestries reported are English, Australian, Chinese.
The median house price in McKinnon is $1.8 million, having dropped significantly 8.5% over the past year. Units have a median price of $820,000 (-4.1% YoY). The current median weekly rent is $560. This gives a gross rental yield of approximately 1.6%. 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.
From an investment perspective, McKinnon offers a gross rental yield of 1.6%, 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.
McKinnon is a mid-sized suburb in Victoria within the Glen Eira local government area (postcode 3204). With a population of 6,878, the suburb has an established demographic with a median age of 40. Households earn a median income of $125K per year, with an average household size of 2.8 people. The most common occupations are professionals, managers, clerical & administrative. The top ancestries reported are English, Australian, Chinese.
The median house price in McKinnon is $1.8 million, having dropped significantly 8.5% over the past year. Units have a median price of $820,000 (-4.1% YoY). The current median weekly rent is $560. This gives a gross rental yield of approximately 1.6%. 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.
From an investment perspective, McKinnon offers a gross rental yield of 1.6%, 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.