Melton is a mid-sized suburb in Victoria within the Melton local government area (postcode 3337). With a population of 7,953, the suburb has an established demographic with a median age of 40. Households earn a median income of $55K per year, with an average household size of 2.4 people. The most common occupations are machinery operators & drivers, technicians & trades, community & personal service. The top ancestries reported are Australian, English, Irish.
The median house price in Melton is $471,000, having risen modestly 0.1% over the past year. Units have a median price of $380,000 (+2.7% YoY). The current median weekly rent is $400. This gives a gross rental yield of approximately 4.4%. The median monthly mortgage repayment is $1,300.
Melton is served by 8 schools, including 3 primary, 3 secondary, 1 combined, 1 special. The average ICSEA score is 962, which is around the national average of 1,000. Public transport access includes 3 rail stations, 56 bus stops. The crime rate in the Melton LGA is moderate at 7,219 incidents per 100,000 population.
From an investment perspective, Melton offers a gross rental yield of 4.4%, rated as moderate yield. Property prices sit below the state median ($471K/$875K), suggesting a potential value opportunity. The price-to-income ratio of 8.6x is considered moderate. House prices have moved +0.1% year-on-year.
Melton is a mid-sized suburb in Victoria within the Melton local government area (postcode 3337). With a population of 7,953, the suburb has an established demographic with a median age of 40. Households earn a median income of $55K per year, with an average household size of 2.4 people. The most common occupations are machinery operators & drivers, technicians & trades, community & personal service. The top ancestries reported are Australian, English, Irish.
The median house price in Melton is $471,000, having risen modestly 0.1% over the past year. Units have a median price of $380,000 (+2.7% YoY). The current median weekly rent is $400. This gives a gross rental yield of approximately 4.4%. The median monthly mortgage repayment is $1,300.
Melton is served by 8 schools, including 3 primary, 3 secondary, 1 combined, 1 special. The average ICSEA score is 962, which is around the national average of 1,000. Public transport access includes 3 rail stations, 56 bus stops. The crime rate in the Melton LGA is moderate at 7,219 incidents per 100,000 population.
From an investment perspective, Melton offers a gross rental yield of 4.4%, rated as moderate yield. Property prices sit below the state median ($471K/$875K), suggesting a potential value opportunity. The price-to-income ratio of 8.6x is considered moderate. House prices have moved +0.1% year-on-year.