Merrigum (postcode 3618) is a close-knit residential community in Victoria within the Greater Shepparton local government area. With a population of 679, the suburb has a settled, mature resident base with a median age of 47. Households earn a median income of $54K per year, with an average household size of 2.3 people. Recent annual estimates show population movement staying broadly stable across the broader catchment, with population growth running at +0.6% 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 managers, labourers, technicians & trades. Employment in the area leans toward agriculture and healthcare. The top ancestries reported are Australian, English, Scottish.
Median house prices in Merrigum stand at $275,000, having risen solidly by 7.8% over the last twelve months. The current median weekly rent is $470. This gives a gross rental yield of approximately 8.9%. The median monthly mortgage repayment is $1,083.
Merrigum is served by 1 school, including 1 primary. The average ICSEA score is 813, which is well below the national average of 1,000. Public transport access includes 1 rail station, 2 bus stops. The crime rate in the Greater Shepparton LGA is higher than average at 14,955 incidents per 100,000 population.
From an investment perspective, Gross rental yield sits at around 8.9% (high yield). Property prices sit below the state median ($275K/$875K), which can point to relative value. The price-to-income ratio of 5.1x is considered affordable. House prices have moved +7.8% year-on-year. Population growth of +0.6% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.