Prahran is a well-established suburb in Victoria within the Stonnington local government area (postcode 3181). With a population of 12,203, the suburb has a mix of young professionals and families with a median age of 34. Households earn a median income of $110K per year, with an average household size of 1.8 people. The most common occupations are professionals, managers, clerical & administrative. The top ancestries reported are English, Australian, Irish.
The median house price in Prahran is $1.6 million, having dropped significantly 9.7% over the past year. Units have a median price of $540,000 (+4.9% YoY). The current median weekly rent is $575. This gives a gross rental yield of approximately 1.9%. The median monthly mortgage repayment is $2,274.
Prahran is served by 1 school, including 1 primary. The average ICSEA score is 1142, which is well above the national average of 1,000. Public transport access includes 2 rail stations, 49 bus stops. Healthcare facilities include 2 private hospitals. The crime rate in the Stonnington LGA is higher than average at 12,012 incidents per 100,000 population.
From an investment perspective, Prahran offers a gross rental yield of 1.9%, rated as low yield. Property prices are above the state median ($1.6M/$875K), placing it in the premium segment. The price-to-income ratio of 14.4x is considered stretched. House prices have moved -9.7% year-on-year.
Prahran is a well-established suburb in Victoria within the Stonnington local government area (postcode 3181). With a population of 12,203, the suburb has a mix of young professionals and families with a median age of 34. Households earn a median income of $110K per year, with an average household size of 1.8 people. The most common occupations are professionals, managers, clerical & administrative. The top ancestries reported are English, Australian, Irish.
The median house price in Prahran is $1.6 million, having dropped significantly 9.7% over the past year. Units have a median price of $540,000 (+4.9% YoY). The current median weekly rent is $575. This gives a gross rental yield of approximately 1.9%. The median monthly mortgage repayment is $2,274.
Prahran is served by 1 school, including 1 primary. The average ICSEA score is 1142, which is well above the national average of 1,000. Public transport access includes 2 rail stations, 49 bus stops. Healthcare facilities include 2 private hospitals. The crime rate in the Stonnington LGA is higher than average at 12,012 incidents per 100,000 population.
From an investment perspective, Prahran offers a gross rental yield of 1.9%, rated as low yield. Property prices are above the state median ($1.6M/$875K), placing it in the premium segment. The price-to-income ratio of 14.4x is considered stretched. House prices have moved -9.7% year-on-year.