Mulgrave is an established suburb in Victoria within the Monash local government area (postcode 3170). With a population of 19,889, the suburb has a settled mid-life population with a median age of 40. Households earn a median income of $99K 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 +0.8% year-on-year in the official ABS Labour Force trend series, which provides the broader jobs backdrop for this suburb. VIC also had 41 Commonwealth-backed major projects under construction, 18 underway, and 24 in planning as at 2025-09-01, which is useful as a broader delivery backdrop rather than a suburb-specific project count. The most common occupations are professionals, clerical & administrative, managers. Employment in the area leans toward healthcare and retail trade. The top ancestries reported are Chinese, Australian, English.
Units have a median price of $830,000 (-3.9% YoY). The current median weekly rent is $695. This gives a gross rental yield of approximately 4.4%. The median monthly mortgage repayment is $2,167.
Mulgrave is served by 5 schools, including 3 primary, 2 secondary. The average ICSEA score is 1048, which is around the national average of 1,000. Public transport access includes 110 bus stops. Healthcare facilities include 1 public and 1 private hospitals. The crime rate in the Monash LGA is moderate at 7,056 incidents per 100,000 population.
On the investment side, Mulgrave shows a gross rental yield of approximately 4.4%, rated as moderate yield. Property prices are near the state median ($830K/$850K). The price-to-income ratio of 8.3x is considered moderate. House prices have moved -3.9% 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.