Millgrove is a small community in Victoria within the Yarra Ranges local government area (postcode 3799). With a population of 1,666, the suburb has an established demographic with a median age of 40. Households earn a median income of $62K per year, with an average household size of 2.3 people. The most common occupations are technicians & trades, community & personal service, labourers. The top ancestries reported are English, Australian, Irish.
The median house price in Millgrove is $590,000, having increased 4.6% over the past year. The current median weekly rent is $525. This gives a gross rental yield of approximately 4.6%. The median monthly mortgage repayment is $1,300.
Millgrove is served by 1 school, including 1 primary. The average ICSEA score is 923, which is below the national average of 1,000. Public transport access includes 5 bus stops. The crime rate in the Yarra Ranges LGA is moderate at 5,164 incidents per 100,000 population.
From an investment perspective, Millgrove offers a gross rental yield of 4.6%, rated as moderate yield. Property prices sit below the state median ($590K/$875K), suggesting a potential value opportunity. The price-to-income ratio of 9.4x is considered moderate. House prices have moved +4.6% year-on-year.
Millgrove is a small community in Victoria within the Yarra Ranges local government area (postcode 3799). With a population of 1,666, the suburb has an established demographic with a median age of 40. Households earn a median income of $62K per year, with an average household size of 2.3 people. The most common occupations are technicians & trades, community & personal service, labourers. The top ancestries reported are English, Australian, Irish.
The median house price in Millgrove is $590,000, having increased 4.6% over the past year. The current median weekly rent is $525. This gives a gross rental yield of approximately 4.6%. The median monthly mortgage repayment is $1,300.
Millgrove is served by 1 school, including 1 primary. The average ICSEA score is 923, which is below the national average of 1,000. Public transport access includes 5 bus stops. The crime rate in the Yarra Ranges LGA is moderate at 5,164 incidents per 100,000 population.
From an investment perspective, Millgrove offers a gross rental yield of 4.6%, rated as moderate yield. Property prices sit below the state median ($590K/$875K), suggesting a potential value opportunity. The price-to-income ratio of 9.4x is considered moderate. House prices have moved +4.6% year-on-year.