Collingwood Rent Prices 2026 — The Full Data Breakdown

You want to rent in Collingwood. That puts you in the top tier of Melbourne’s rental desirability — and you’re going to pay for the privilege.

We pulled the numbers, checked the listings, and crunched the year-over-year changes so you don’t have to wade through Domain’s endless dropdowns. Here’s what renting in postcode 3066 actually costs right now, what’s gone up, what’s held flat, and which pockets of Collingwood offer the best value.

Updated 22 March 2026

The Headline Numbers

These are the current median weekly rents in Collingwood, sourced from REIV data and cross-referenced against Domain and realestate.com.au listings as of early March 2026:

For context: Melbourne’s metro-wide 1-bedroom median sits around $515/week right now. Collingwood is running slightly above that, which tracks — the suburb has been one of the most sought-after inner-north addresses since roughly 2019.

The big story here is houses. A 7.1% jump in median house rent — from $700 to $750 per week — outpaces every other property type in the suburb. Collingwood only has a small number of detached houses (most of the housing stock is Victorian terraces and warehouses converted to apartments), so the low supply means any listing with a front door and a postcode of 3066 gets fought over.

Collingwood vs Melbourne: What the Gap Looks Like

That house premium is significant. Collingwood houses are running a 21% premium over the Melbourne median, driven by the fact that the suburb’s housing stock is overwhelmingly Victorian-era — think 1880s weatherboard and brick terrace houses on streets like Peel Street, Cambridge Street, and Oxford Street. They’re character properties on tree-lined streets, and landlords know it.

The 1-bedroom and 2-bedroom unit premiums are modest. Collingwood has been absorbing a wave of new apartment development along Hoddle Street and the Smith Street corridor. More supply in the unit market has kept price growth relatively measured.

The Three Pockets: Where Your Money Goes Further

Collingwood isn’t a monolith. The neighbourhood changes character block by block, and the rent data reflects that.

1. Smith Street Corridor (West Side)

Median 1-bed: $550/week | Median 2-bed: $650/week

This is the premium zone. Smith Street between Johnston Street and the northern end is Melbourne’s most active restaurant and bar strip in the inner north. The stretch closest to Johnston Street is ground zero for the $550+ one-bedroom.

The trade-off: you’re above or next to a restaurant, bar, or cafe. That means Friday and Saturday noise, delivery vans early morning, and the occasional late-night crowd. If you want the postcode without the soundtrack, look at the cross streets between Smith and Hoddle — Gipps Street, Wellington Street, and Oxford Street offer the same suburb with more breathing room.

2. Eastern Pocket (Near Hoddle Street)

Median 1-bed: $490/week | Median 2-bed: $590/week

This is where Collingwood meets Abbotsford, and it’s the value play. East of Wellington Street, you lose the Smith Street cachet but gain quieter streets and more green space. Rents sit $30-60/week below the western half of the suburb.

The trade-off: you’re further from the 86 tram line and the restaurants. Getting to the city involves walking to the 12 tram on Victoria Parade, cycling, or using Collingwood station on the Hurstbridge/Mernda line.

3. Johnston Street Strip

Median 1-bed: $540/week | Median 2-bed: $640/week

Johnston Street between Hoddle and Smith is the Fitzroy spillover zone. The warehouses-turned-apartments along Johnston and Wellington Street have attracted creative professionals — expect exposed brick, polished concrete, and open-plan layouts that photograph well on realestate.com.au but can be cold in winter.

The trade-off: Johnston Street is a main road. Traffic noise and the Saturday morning rush are part of the deal.

Year-Over-Year Trend: Three Years of Data

The pandemic-era surge peaked in 2023 when inner Melbourne rents were jumping 15-20% in a single year. Since then, the rate of growth has decelerated but hasn’t reversed. Collingwood’s unit market has seen the sharpest cooling — that modest YoY change on 2-bed units reflects the fact that new apartment supply along Hoddle Street has taken the pressure off.

Houses have barely blinked. There’s simply not enough of them. When a three-bedroom terrace on Peel Street comes up, it’s gone within a week.

Vacancy Rate: What It Tells You

Collingwood’s current vacancy rate sits at 1.73% — well below Melbourne’s overall rate of 2.5%. In practical terms:

• For landlords: Well-presented properties in good locations lease within 10-14 days.
• For renters: Competition is fierce. Expect to attend inspections with 15-20 other people. Have your documents ready — payslips, ID, rental history, references. Apply on the day of inspection.

The 1.73% figure also means Collingwood is tighter than the inner-north average. Neighbouring Fitzroy sits around 1.9%, Richmond at 2.1%, and Abbotsford at 2.4%. If you’re flexible on suburb, your odds of finding a place improve as you move east.

The Salary Question: Can You Actually Afford Collingwood?

If you’re renting a 1-bedroom unit at the median of $520/week:

• Annual rent: $27,040
• Recommended income (rent at 30% of gross): $90,133
• Actual Melbourne median full-time salary: approximately $90,500 (ABS, 2025)

You need to be earning at or above the median to comfortably afford a 1-bedroom in Collingwood. A couple on two median salaries ($180k combined) can stretch to a 2-bed at $620/week with breathing room.

For a single person on $70k, a 1-bed in Collingwood eats 38.6% of your gross income — above the rental stress threshold. You’d be looking at a studio ($420/week) or a flatshare in the eastern pocket where rooms run $250-300/week.

For context on what that rent buys you in daily expenses, see our Cost of Living in Collingwood breakdown.

Who’s Renting in Collingwood?

Collingwood’s population of approximately 8,500 skews young — median age 33 — and heavily rental. The main tenant groups:

1. Creative professionals (designers, architects, media workers) — drawn to the warehouse conversions and walkable cafe culture. Most common in the Johnston Street pocket.

2. Healthcare and university workers — proximity to hospitals and RMIT’s city campus makes Collingwood viable. More common in the eastern pocket where rents are lower.

3. Couples on dual incomes — the 2-bed sweet spot at $620/week is well within range for two professionals. These are the people filling the Smith Street restaurants on a Wednesday night.

4. Students — RMIT students rent here in decent numbers. University of Melbourne students tend to cluster in Carlton where the walk-to-campus convenience outweighs Collingwood’s lifestyle appeal.

What’s Coming: Supply and the Pipeline

Several mixed-use developments along Hoddle Street and Smith Street have been approved or are under construction, potentially adding 300-400 new rental apartments to the market by late 2026 and into 2027.

This matters because Collingwood’s unit rents have already flattened. If those apartments land on the market, the unit rental price could soften further, potentially pulling 1-bed medians back below $500.

Houses are a different story. City of Yarra restrictions on overdevelopment of the heritage-protected terrace streets mean the housing stock isn’t growing. If you’re in the market for a 3-bedroom house rental, expect the competition and the price to keep climbing.

FAQ

What is the average rent in Collingwood? The median rent for a 1-bedroom unit in Collingwood is $520/week as of March 2026. Two-bedroom units sit at $620/week. Three-bedroom houses are at $750/week.

Is Collingwood expensive to rent? Collingwood’s unit rents are close to the Melbourne median, but house rents run 21% above the city-wide median. The eastern pocket near Hoddle Street offers the most affordable options within the suburb.

How do I find a rental in Collingwood? Have your application documents ready before inspecting. Apply on the day of inspection. Look beyond the main portals — walk the streets, check community noticeboards, and monitor local Facebook groups for listings the apps miss.

Verdict

Collingwood in 2026 is a suburb where the rental market has matured past its pandemic-era frenzy. Units are holding steady, houses are still climbing, and the vacancy rate says landlords still hold the cards — but less firmly than they did 18 months ago.

If you’re a couple on decent incomes who want walkable restaurants, easy city access via the 86 tram on Smith Street or Collingwood station on the Hurstbridge/Mernda line, and character-filled streets, Collingwood is still one of Melbourne’s best addresses. If you’re a single renter on a median salary, the numbers are tight but workable if you target the eastern pocket or go in on a flatshare.

The real question isn’t whether Collingwood is worth the rent — it’s whether you can find an opening. With vacancy at 1.73%, competition is the real cost.

Sources: REIV March 2026 quarterly data, Domain Rent Report Q4 2025, ABS median income data. All figures represent medians and may not reflect individual listing prices.

More on Collingwood: Collingwood Property Market | Collingwood Cost of Living | Collingwood Neighbourhood Guide

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