Oak Park is a mid-sized suburb in Victoria within the Moreland local government area (postcode 3046). With a population of 6,714, the suburb has a mix of young professionals and families with a median age of 36. Households earn a median income of $114K per year, with an average household size of 2.5 people. The most common occupations are professionals, clerical & administrative, managers. The top ancestries reported are English, Australian, Italian.
The median house price in Oak Park is $1.1 million, having increased 3.5% over the past year. Units have a median price of $650,000 (+6.4% YoY). The median weekly rent is $401 (Census 2021). This gives a gross rental yield of approximately 1.9%. The median monthly mortgage repayment is $2,167.
Oak Park is served by 2 schools, including 2 primary. The average ICSEA score is 1090, which is above the national average of 1,000. Public transport access includes 1 rail station, 19 bus stops.
From an investment perspective, Oak Park offers a gross rental yield of 1.9%, rated as low yield. Property prices are near the state median ($1.1M/$875K). The price-to-income ratio of 9.8x is considered moderate. House prices have moved +3.5% year-on-year.
Oak Park is a mid-sized suburb in Victoria within the Moreland local government area (postcode 3046). With a population of 6,714, the suburb has a mix of young professionals and families with a median age of 36. Households earn a median income of $114K per year, with an average household size of 2.5 people. The most common occupations are professionals, clerical & administrative, managers. The top ancestries reported are English, Australian, Italian.
The median house price in Oak Park is $1.1 million, having increased 3.5% over the past year. Units have a median price of $650,000 (+6.4% YoY). The median weekly rent is $401 (Census 2021). This gives a gross rental yield of approximately 1.9%. The median monthly mortgage repayment is $2,167.
Oak Park is served by 2 schools, including 2 primary. The average ICSEA score is 1090, which is above the national average of 1,000. Public transport access includes 1 rail station, 19 bus stops.
From an investment perspective, Oak Park offers a gross rental yield of 1.9%, rated as low yield. Property prices are near the state median ($1.1M/$875K). The price-to-income ratio of 9.8x is considered moderate. House prices have moved +3.5% year-on-year.