Pakenham is a major suburb in Victoria within the Cardinia local government area (postcode 3810). With a population of 54,118, the suburb has a mix of young professionals and families with a median age of 33. Households earn a median income of $87K per year, with an average household size of 2.8 people. The most common occupations are technicians & trades, professionals, community & personal service. The top ancestries reported are English, Australian, Scottish.
The median house price in Pakenham is $655,000, having increased 2.3% over the past year. Units have a median price of $490,000 (+2.4% YoY). The current median weekly rent is $470. This gives a gross rental yield of approximately 3.7%. The median monthly mortgage repayment is $1,733.
Pakenham is served by 12 schools, including 8 primary, 2 secondary, 2 combined. The average ICSEA score is 1000, which is around the national average of 1,000. Public transport access includes 13 rail stations, 171 bus stops. The crime rate in the Cardinia LGA is moderate at 7,195 incidents per 100,000 population.
From an investment perspective, Pakenham offers a gross rental yield of 3.7%, rated as moderate yield. Property prices are near the state median ($655K/$875K). The price-to-income ratio of 7.6x is considered moderate. House prices have moved +2.3% year-on-year.
Pakenham is a major suburb in Victoria within the Cardinia local government area (postcode 3810). With a population of 54,118, the suburb has a mix of young professionals and families with a median age of 33. Households earn a median income of $87K per year, with an average household size of 2.8 people. The most common occupations are technicians & trades, professionals, community & personal service. The top ancestries reported are English, Australian, Scottish.
The median house price in Pakenham is $655,000, having increased 2.3% over the past year. Units have a median price of $490,000 (+2.4% YoY). The current median weekly rent is $470. This gives a gross rental yield of approximately 3.7%. The median monthly mortgage repayment is $1,733.
Pakenham is served by 12 schools, including 8 primary, 2 secondary, 2 combined. The average ICSEA score is 1000, which is around the national average of 1,000. Public transport access includes 13 rail stations, 171 bus stops. The crime rate in the Cardinia LGA is moderate at 7,195 incidents per 100,000 population.
From an investment perspective, Pakenham offers a gross rental yield of 3.7%, rated as moderate yield. Property prices are near the state median ($655K/$875K). The price-to-income ratio of 7.6x is considered moderate. House prices have moved +2.3% year-on-year.