Rye is a mid-sized suburb in Victoria within the Mornington Peninsula local government area (postcode 3941). With a population of 9,438, the suburb has a mature demographic with a median age of 51. Households earn a median income of $69K per year, with an average household size of 2.2 people. The most common occupations are technicians & trades, professionals, managers. The top ancestries reported are English, Australian, Irish.
The median house price in Rye is $1.0 million, having dropped significantly 8.2% over the past year. Units have a median price of $715,000 (+4.2% YoY). The median weekly rent is $372 (Census 2021). This gives a gross rental yield of approximately 1.9%. The median monthly mortgage repayment is $1,800.
Rye is served by 1 school, including 1 primary. The average ICSEA score is 1026, which is around the national average of 1,000. Public transport access includes 67 bus stops. The crime rate in the Mornington Peninsula LGA is moderate at 7,089 incidents per 100,000 population.
From an investment perspective, Rye offers a gross rental yield of 1.9%, rated as low yield. Property prices are near the state median ($1.0M/$875K). The price-to-income ratio of 14.6x is considered stretched. House prices have moved -8.2% year-on-year.
Rye is a mid-sized suburb in Victoria within the Mornington Peninsula local government area (postcode 3941). With a population of 9,438, the suburb has a mature demographic with a median age of 51. Households earn a median income of $69K per year, with an average household size of 2.2 people. The most common occupations are technicians & trades, professionals, managers. The top ancestries reported are English, Australian, Irish.
The median house price in Rye is $1.0 million, having dropped significantly 8.2% over the past year. Units have a median price of $715,000 (+4.2% YoY). The median weekly rent is $372 (Census 2021). This gives a gross rental yield of approximately 1.9%. The median monthly mortgage repayment is $1,800.
Rye is served by 1 school, including 1 primary. The average ICSEA score is 1026, which is around the national average of 1,000. Public transport access includes 67 bus stops. The crime rate in the Mornington Peninsula LGA is moderate at 7,089 incidents per 100,000 population.
From an investment perspective, Rye offers a gross rental yield of 1.9%, rated as low yield. Property prices are near the state median ($1.0M/$875K). The price-to-income ratio of 14.6x is considered stretched. House prices have moved -8.2% year-on-year.