Murrumbeena is a mid-sized suburb in Victoria within the Glen Eira local government area (postcode 3163). With a population of 9,996, the suburb has a mix of young professionals and families with a median age of 37. Households earn a median income of $107K per year, with an average household size of 2.4 people. The most common occupations are professionals, managers, clerical & administrative. The top ancestries reported are English, Australian, Irish.
The median house price in Murrumbeena is $1.7 million, having increased 3.4% over the past year. Units have a median price of $591,000 (+0.6% YoY). The current median weekly rent is $560. This gives a gross rental yield of approximately 1.7%. The median monthly mortgage repayment is $2,167.
Murrumbeena is served by 2 schools, including 2 primary. The average ICSEA score is 1151, which is well above the national average of 1,000. Public transport access includes 7 rail stations, 46 bus stops. The crime rate in the Glen Eira LGA is moderate at 4,737 incidents per 100,000 population.
From an investment perspective, Murrumbeena offers a gross rental yield of 1.7%, rated as low yield. Property prices are above the state median ($1.7M/$875K), placing it in the premium segment. The price-to-income ratio of 15.9x is considered stretched. House prices have moved +3.4% year-on-year.
Murrumbeena is a mid-sized suburb in Victoria within the Glen Eira local government area (postcode 3163). With a population of 9,996, the suburb has a mix of young professionals and families with a median age of 37. Households earn a median income of $107K per year, with an average household size of 2.4 people. The most common occupations are professionals, managers, clerical & administrative. The top ancestries reported are English, Australian, Irish.
The median house price in Murrumbeena is $1.7 million, having increased 3.4% over the past year. Units have a median price of $591,000 (+0.6% YoY). The current median weekly rent is $560. This gives a gross rental yield of approximately 1.7%. The median monthly mortgage repayment is $2,167.
Murrumbeena is served by 2 schools, including 2 primary. The average ICSEA score is 1151, which is well above the national average of 1,000. Public transport access includes 7 rail stations, 46 bus stops. The crime rate in the Glen Eira LGA is moderate at 4,737 incidents per 100,000 population.
From an investment perspective, Murrumbeena offers a gross rental yield of 1.7%, rated as low yield. Property prices are above the state median ($1.7M/$875K), placing it in the premium segment. The price-to-income ratio of 15.9x is considered stretched. House prices have moved +3.4% year-on-year.