Rutherglen (postcode 3685) is a smaller residential area in Victoria within the Indigo local government area. With a population of 2,579, the suburb has an older-leaning population with a median age of 48. Households earn a median income of $68K per year, with an average household size of 2.3 people. Recent annual estimates show population movement staying broadly stable across the broader catchment, with population growth running at +0.8% year-on-year at the LGA level. VIC employment has moved +0.9% year-on-year in the official Jobs and Skills Australia NERO series, which provides the broader jobs backdrop for this suburb. VIC also had 45 Commonwealth-backed major projects under construction, 17 underway, and 27 in planning as at 2 October 2024, which is useful as a broader delivery backdrop rather than a suburb-specific project count. The most common occupations are labourers, professionals, managers. Employment in the area leans toward manufacturing and healthcare. The top ancestries reported are English, Australian, Irish.
Rutherglen has a median house price of $550,000, which has jumped by 14.8% year-on-year. The current median weekly rent is $480. This gives a gross rental yield of approximately 4.5%. The median monthly mortgage repayment is $1,300.
Rutherglen is served by 3 schools, including 2 primary, 1 secondary. The average ICSEA score is 988, which is around the national average of 1,000. Public transport access includes 7 bus stops. The crime rate in the Indigo LGA is below average at 3,341 incidents per 100,000 population.
From an investment perspective, Rutherglen shows a gross rental yield of approximately 4.5%, rated as moderate yield. Property prices sit below the state median ($550K/$875K), which can point to relative value. The price-to-income ratio of 8.1x is considered moderate. House prices have moved +14.8% year-on-year. Population growth of +0.8% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.