Tarneit is a major suburb in Victoria within the Wyndham local government area (postcode 3029). With a population of 56,370, the suburb has a young professional demographic with a median age of 30. Households earn a median income of $109K per year, with an average household size of 3.4 people. The most common occupations are professionals, machinery operators & drivers, clerical & administrative. The top ancestries reported are Indian, Australian, English.
The median house price in Tarneit is $650,000, having dipped slightly 0.3% over the past year. Units have a median price of $470,000 (-3.1% YoY). The current median weekly rent is $480. This gives a gross rental yield of approximately 3.8%. The median monthly mortgage repayment is $1,950.
Tarneit is served by 14 schools, including 8 primary, 3 secondary, 3 combined. The average ICSEA score is 1055, which is above the national average of 1,000. Public transport access includes 11 rail stations, 142 bus stops. The crime rate in the Wyndham LGA is moderate at 7,001 incidents per 100,000 population.
From an investment perspective, Tarneit offers a gross rental yield of 3.8%, rated as moderate yield. Property prices are near the state median ($650K/$875K). The price-to-income ratio of 5.9x is considered affordable. House prices have moved -0.3% year-on-year.
Tarneit is a major suburb in Victoria within the Wyndham local government area (postcode 3029). With a population of 56,370, the suburb has a young professional demographic with a median age of 30. Households earn a median income of $109K per year, with an average household size of 3.4 people. The most common occupations are professionals, machinery operators & drivers, clerical & administrative. The top ancestries reported are Indian, Australian, English.
The median house price in Tarneit is $650,000, having dipped slightly 0.3% over the past year. Units have a median price of $470,000 (-3.1% YoY). The current median weekly rent is $480. This gives a gross rental yield of approximately 3.8%. The median monthly mortgage repayment is $1,950.
Tarneit is served by 14 schools, including 8 primary, 3 secondary, 3 combined. The average ICSEA score is 1055, which is above the national average of 1,000. Public transport access includes 11 rail stations, 142 bus stops. The crime rate in the Wyndham LGA is moderate at 7,001 incidents per 100,000 population.
From an investment perspective, Tarneit offers a gross rental yield of 3.8%, rated as moderate yield. Property prices are near the state median ($650K/$875K). The price-to-income ratio of 5.9x is considered affordable. House prices have moved -0.3% year-on-year.