You are choosing between Preston and Reservoir because Brunswick money is not happening. Pick wrong and you pay extra for the same commute. Here is the renter answer: where to live, what it costs, and what you give up.
The Verdict
Preston is the better pick for most renters who want the northern-Melbourne lifestyle without paying full inner-north rent. It gives you more day-to-day usefulness in a smaller area: High Street for cafes and restaurants, Murray Road for the practical spine, Preston Market open Wednesday to Sunday, tram 86 on High Street, tram 11 on St Georges Road, and the Mernda line via Bell Station. If you only read one answer, choose Preston when you want the suburb to do more work for you after you move in.
Reservoir wins on price and space, and that is not a small thing. A 2-bed apartment is about $440/week in Reservoir versus $480/week in Preston, and share rooms sit around $200-$280 instead of Preston’s $230-$320. For houses, the same pattern holds: Reservoir’s median house price is around $850k versus Preston at $980k, which tells you what renters feel on the ground too. Preston costs roughly $30-$40/week more because it is more polished and more cafe-dense, not because the commute is dramatically better. Don’t pay Preston rent if what you really want is a bigger, quieter family-style rental. You’ll resent the premium.
Local Reality
Preston feels easier if you like doing ordinary life on foot. You can build a Saturday around Preston Market, walk High Street for coffee or lunch, and still have tram and train options when you need the city. The housing stock is mostly 1900s-1950s, so expect older homes, mixed apartment quality, and streets that can change quickly from polished to plain. The CBD trip is workable: about 18-22 minutes by train from Bell Station, or 25-32 minutes by tram depending where you start and how much patience you have.
Reservoir is bigger, more residential, and less instantly legible to a new renter. The win is space: more 1950s-1970s housing, more family-style streets, and stronger Greek-Italian-Macedonian heritage food culture still visible in the suburb’s everyday rhythm. Reservoir Station keeps the commute simple at roughly 22-28 minutes by train to the CBD, but the suburb is less tram-friendly and less compact than Preston. If your rental is a long walk from the station, that cheap rent can start costing you in time.
Skip Preston if your idea of value is square metres first and cafes second. Skip Reservoir if you need a dense, walkable strip every weekend and do not want to think about which side of the suburb you rented in. If you are west of Bell Station or far from Reservoir Station, inspect the commute carefully before signing.
Who This Suits
If you are a young professional who wants cafes, markets, and a simple city commute, pick Preston. If you are a student or share-house renter trying to stay below Brunswick and Coburg pricing while still having a useful strip nearby, pick Preston. If you are a family chasing more house for the money, pick Reservoir. If you are a mature-age renter who cares more about quiet streets and rent control than bars or brunch, pick Reservoir. If you are moving with a car and do not need everything walkable, Reservoir gets more attractive fast.
On cost, the gap is real but not huge. Budget about $480/week for a Preston 2-bed apartment and $440/week for the Reservoir equivalent. For share houses, Preston rooms sit around $230-$320, while Reservoir is closer to $200-$280. That $30-$40/week difference is the whole decision for some renters. Over a year, it is enough money to matter, but not enough to justify living somewhere that does not suit your routine.
Time of day changes the feel. Preston is best when you actually use the market, High Street, and the tram network; otherwise you are paying for proximity you are not cashing in. Reservoir is best when your days are more home-based, family-based, or train-to-work simple. On weekends, Preston gives you more obvious things to do. Reservoir gives you more breathing room, but you may need to be more deliberate about where you rent.
What to Do Next
Choose Preston if you want the suburb to feel useful from week one. Choose Reservoir if cheaper rent and bigger housing matter more than cafe density. For the next comparison, read Coburg vs Brunswick cheap rent.
Tom Hartigan writes regional and outer-suburb stories for MELBZ.
