Melbourne Rent Prices by Suburb 2026 — Complete Guide
Melbourne’s rental market in early 2026 sits at a plateau after three years of steep increases. Vacancy rates have stabilised around 1.8% citywide — still tight, but improved from the sub-1% crisis of late 2023. Rent growth has slowed to approximately 3-5% annually, down from the 10-15% spikes of 2022-2023.
This guide breaks down median asking rents by region and suburb for the March 2026 quarter. All figures are weekly medians based on listing data from Domain and REA Group.
Citywide Overview
| Property Type | Median Rent (Metro Melbourne) | YoY Change |
|---|---|---|
| 1BR Apartment | $400/wk | +3.8% |
| 2BR Apartment | $500/wk | +4.1% |
| 2BR House | $520/wk | +3.5% |
| 3BR House | $580/wk | +3.2% |
CBD and Docklands
The CBD and Docklands represent Melbourne’s densest apartment markets. Rent here is driven by convenience — you walk to everything — but apartment quality varies enormously. Older towers on Swanston Street and Elizabeth Street offer lower rents but smaller spaces and dated finishes. Newer developments in Southbank and Docklands command premiums.
| Suburb | 1BR Apartment | 2BR Apartment | Notes |
|---|---|---|---|
| Melbourne CBD | $450/wk | $600/wk | Wide range depending on building age and aspect |
| Southbank | $470/wk | $620/wk | River views command $50-$100 premium |
| Docklands | $440/wk | $580/wk | Newer buildings, waterfront, can feel isolated |
Inner North
The inner north is Melbourne’s most in-demand rental region for young professionals and creatives. Rents reflect that demand. The further north you go along the Mernda line, the more affordable it becomes.
| Suburb | 1BR Apartment | 2BR Apartment | 2BR House | 3BR House |
|---|---|---|---|---|
| Fitzroy | $480/wk | $650/wk | $680/wk | $800/wk |
| Collingwood | $460/wk | $620/wk | $650/wk | $780/wk |
| Carlton | $430/wk | $580/wk | $600/wk | $720/wk |
| Carlton North | $440/wk | $590/wk | $620/wk | $740/wk |
| Clifton Hill | $430/wk | $580/wk | $620/wk | $750/wk |
| Northcote | $430/wk | $570/wk | $600/wk | $720/wk |
| Thornbury | $400/wk | $530/wk | $560/wk | $680/wk |
| Brunswick | $420/wk | $550/wk | $580/wk | $700/wk |
| Brunswick East | $410/wk | $540/wk | $570/wk | $690/wk |
| Brunswick West | $400/wk | $520/wk | $550/wk | $670/wk |
| Preston | $370/wk | $480/wk | $510/wk | $620/wk |
| Coburg | $380/wk | $490/wk | $520/wk | $630/wk |
| Reservoir | $350/wk | $450/wk | $480/wk | $580/wk |
| Fairfield | $420/wk | $560/wk | $590/wk | $710/wk |
Inner North Summary: Expect to pay $400-$480/wk for a 1BR in the popular suburbs (Fitzroy through Brunswick). Preston and Reservoir are the value plays at $350-$370/wk. Houses are scarce in the inner-inner north — most stock is apartments and converted terraces.
Inner South
The inner south is more polished and more expensive than the inner north, with bayside proximity driving premiums in suburbs like Albert Park and South Melbourne.
| Suburb | 1BR Apartment | 2BR Apartment | 2BR House | 3BR House |
|---|---|---|---|---|
| South Yarra | $460/wk | $620/wk | $680/wk | $850/wk |
| Prahran | $440/wk | $590/wk | $640/wk | $790/wk |
| Windsor | $420/wk | $560/wk | $600/wk | $750/wk |
| St Kilda | $420/wk | $560/wk | $600/wk | $740/wk |
| St Kilda East | $400/wk | $530/wk | $570/wk | $700/wk |
| Elwood | $430/wk | $570/wk | $610/wk | $760/wk |
| Albert Park | $460/wk | $620/wk | $670/wk | $820/wk |
| South Melbourne | $450/wk | $600/wk | $640/wk | $790/wk |
| Middle Park | $470/wk | $630/wk | $680/wk | $840/wk |
| Port Melbourne | $440/wk | $580/wk | $620/wk | $770/wk |
| Balaclava | $400/wk | $530/wk | $560/wk | $690/wk |
| Ripponlea | $410/wk | $540/wk | $570/wk | $700/wk |
| Caulfield | $380/wk | $500/wk | $530/wk | $660/wk |
| Elsternwick | $390/wk | $510/wk | $540/wk | $670/wk |
Inner South Summary: South Yarra and Albert Park are the premium suburbs at $460/wk for a 1BR. Balaclava, Caulfield, and Elsternwick offer better value at $380-$400/wk while still being on the Sandringham or Frankston line. St Kilda has stabilised after years of rapid growth.
Inner East
The inner east commands premium rents because of school access, leafy streetscapes, and established amenity. This is where Melbourne’s wealthiest suburbs cluster.
| Suburb | 1BR Apartment | 2BR Apartment | 2BR House | 3BR House |
|---|---|---|---|---|
| Richmond | $460/wk | $610/wk | $650/wk | $790/wk |
| Abbotsford | $430/wk | $570/wk | $600/wk | $730/wk |
| Cremorne | $470/wk | $630/wk | N/A | N/A |
| Hawthorn | $420/wk | $560/wk | $620/wk | $750/wk |
| Hawthorn East | $410/wk | $540/wk | $600/wk | $730/wk |
| Kew | $430/wk | $570/wk | $640/wk | $780/wk |
| Camberwell | $400/wk | $530/wk | $590/wk | $720/wk |
| Canterbury | $420/wk | $560/wk | $640/wk | $800/wk |
| Surrey Hills | $390/wk | $520/wk | $580/wk | $710/wk |
| Balwyn | $390/wk | $510/wk | $570/wk | $700/wk |
| Glen Iris | $400/wk | $530/wk | $590/wk | $700/wk |
| Malvern | $410/wk | $550/wk | $610/wk | $740/wk |
| Toorak | $480/wk | $650/wk | $750/wk | $950/wk |
| Armadale | $430/wk | $570/wk | $630/wk | $770/wk |
Inner East Summary: Toorak is the outlier — Melbourne’s most expensive suburb at $480/wk for a 1BR apartment. The rest of the inner east clusters between $390-$430/wk for 1BR apartments. House rents are high because the stock is predominantly larger homes on substantial blocks.
Inner West
The inner west offers the best value for proximity to the CBD. Footscray, Seddon, and Yarraville are the most popular suburbs for renters seeking affordability with character.
| Suburb | 1BR Apartment | 2BR Apartment | 2BR House | 3BR House |
|---|---|---|---|---|
| Footscray | $380/wk | $480/wk | $510/wk | $620/wk |
| Seddon | $390/wk | $500/wk | $540/wk | $660/wk |
| Yarraville | $390/wk | $510/wk | $550/wk | $670/wk |
| Kensington | $400/wk | $530/wk | $560/wk | $680/wk |
| Flemington | $380/wk | $490/wk | $520/wk | $640/wk |
| North Melbourne | $420/wk | $560/wk | $580/wk | $700/wk |
| West Melbourne | $430/wk | $570/wk | N/A | N/A |
| Williamstown | $400/wk | $530/wk | $570/wk | $680/wk |
| Newport | $370/wk | $480/wk | $510/wk | $620/wk |
| Spotswood | $370/wk | $470/wk | $500/wk | $610/wk |
| Maribyrnong | $380/wk | $490/wk | $520/wk | $630/wk |
| Moonee Ponds | $390/wk | $510/wk | $540/wk | $660/wk |
| Essendon | $390/wk | $510/wk | $540/wk | $650/wk |
| Ascot Vale | $390/wk | $510/wk | $540/wk | $660/wk |
Inner West Summary: The inner west is $40-$80/wk cheaper than equivalent inner-north suburbs for comparable quality. Footscray at $380/wk for a 1BR is one of Melbourne’s best value propositions given its 12-minute CBD commute. Newport and Spotswood at $370/wk are even cheaper but less walkable.
Outer East
The outer east is predominantly houses, with fewer apartment options. Suburbs here are leafy, quiet, and car-dependent.
| Suburb | 1BR Apartment | 2BR Apartment | 2BR House | 3BR House |
|---|---|---|---|---|
| Box Hill | $370/wk | $470/wk | $490/wk | $580/wk |
| Doncaster | $380/wk | $490/wk | $510/wk | $600/wk |
| Glen Waverley | $380/wk | $490/wk | $510/wk | $600/wk |
| Mount Waverley | $360/wk | $460/wk | $490/wk | $580/wk |
| Ringwood | $340/wk | $430/wk | $460/wk | $550/wk |
| Croydon | $320/wk | $410/wk | $430/wk | $520/wk |
| Blackburn | $360/wk | $460/wk | $480/wk | $570/wk |
| Burwood | $360/wk | $460/wk | $480/wk | $570/wk |
| Vermont | $340/wk | $430/wk | $450/wk | $540/wk |
| Nunawading | $340/wk | $430/wk | $450/wk | $540/wk |
Outer East Summary: The outer east provides more space for the dollar. A 3BR house in Ringwood ($550/wk) is comparable in price to a 2BR apartment in Fitzroy. The trade-off is a 30-40 minute train commute and limited nightlife.
Outer North
The outer north is Melbourne’s most affordable growth corridor, with rents well below the metro median.
| Suburb | 1BR Apartment | 2BR Apartment | 2BR House | 3BR House |
|---|---|---|---|---|
| Broadmeadows | $290/wk | $365/wk | $390/wk | $470/wk |
| Craigieburn | $300/wk | $380/wk | $400/wk | $490/wk |
| Thomastown | $310/wk | $385/wk | $410/wk | $490/wk |
| Lalor | $310/wk | $380/wk | $400/wk | $480/wk |
| Epping | $310/wk | $390/wk | $410/wk | $500/wk |
| South Morang | $320/wk | $400/wk | $420/wk | $510/wk |
| Fawkner | $320/wk | $390/wk | $410/wk | $500/wk |
| Glenroy | $340/wk | $420/wk | $440/wk | $530/wk |
| Pascoe Vale | $360/wk | $440/wk | $460/wk | $550/wk |
Outer North Summary: Broadmeadows at $290/wk for a 1BR is among the cheapest options in Melbourne with a train station. The outer north is best suited for families who need space and can tolerate a 30-45 minute commute.
Outer West
The western growth corridor has seen massive development. New estates in Tarneit, Point Cook, and Wyndham Vale offer modern housing stock at low rents.
| Suburb | 1BR Apartment | 2BR Apartment | 2BR House | 3BR House |
|---|---|---|---|---|
| Sunshine | $330/wk | $400/wk | $430/wk | $520/wk |
| Sunshine West | $310/wk | $380/wk | $400/wk | $490/wk |
| St Albans | $300/wk | $375/wk | $400/wk | $480/wk |
| Werribee | $290/wk | $370/wk | $390/wk | $470/wk |
| Point Cook | $330/wk | $410/wk | $430/wk | $520/wk |
| Tarneit | $310/wk | $390/wk | $410/wk | $490/wk |
| Wyndham Vale | $300/wk | $375/wk | $400/wk | $480/wk |
| Caroline Springs | $330/wk | $410/wk | $430/wk | $520/wk |
| Braybrook | $340/wk | $410/wk | $430/wk | $520/wk |
| Deer Park | $310/wk | $380/wk | $400/wk | $480/wk |
Outer West Summary: The outer west is where Melbourne’s most affordable new housing is built. Tarneit and Wyndham Vale have modern 3BR houses for under $500/wk. The trade-off is long commutes and developing infrastructure.
Outer South-East
The south-eastern growth corridor runs from Dandenong out to Pakenham, along the Cranbourne/Pakenham train line.
| Suburb | 1BR Apartment | 2BR Apartment | 2BR House | 3BR House |
|---|---|---|---|---|
| Dandenong | $300/wk | $375/wk | $400/wk | $480/wk |
| Noble Park | $310/wk | $385/wk | $410/wk | $490/wk |
| Springvale | $320/wk | $390/wk | $420/wk | $500/wk |
| Cranbourne | $300/wk | $380/wk | $400/wk | $480/wk |
| Pakenham | $300/wk | $375/wk | $400/wk | $480/wk |
| Narre Warren | $320/wk | $400/wk | $420/wk | $500/wk |
| Berwick | $340/wk | $420/wk | $440/wk | $530/wk |
| Frankston | $320/wk | $390/wk | $420/wk | $500/wk |
| Cheltenham | $370/wk | $460/wk | $490/wk | $580/wk |
| Moorabbin | $360/wk | $450/wk | $470/wk | $560/wk |
| Bentleigh | $380/wk | $480/wk | $510/wk | $620/wk |
Outer South-East Summary: Bentleigh and Cheltenham sit at the premium end, transitioning into the inner south. Beyond Dandenong, rents drop significantly but commute times extend past 40 minutes.
How to Use This Data
Setting your budget: The standard advice is to spend no more than 30% of gross income on rent. In Melbourne’s market, many renters stretch to 35%. Calculate what is sustainable for you.
Comparing regions: The inner west consistently offers the best rent-to-amenity ratio. The inner north commands a lifestyle premium. The inner east and inner south charge for schools, leafiness, and established character.
Negotiating: In the current market, there is limited room to negotiate below asking rent. However, if a property has been listed for more than two weeks without being leased, a slightly lower offer may be accepted.
Timing: Rental markets are seasonal. January and February (start of university and work year) are the tightest months. June and July tend to have slightly less competition.
This data reflects median asking rents and will vary based on specific property condition, floor level, aspect, and included amenities. Always verify current pricing on Domain and realestate.com.au when making decisions.