Melbourne Rent Prices by Suburb — March 2026
Median weekly rents across Melbourne. Updated quarterly from REIV and Domain rental reports.
Quick Summary
| Property Type | Melbourne Median | YoY Change |
|---|---|---|
| 3-bed house | $580/week | +4.2% |
| 2-bed unit | $480/week | +5.8% |
| 1-bed unit | $380/week | +6.1% |
| Room in share house | $250/week | +3.5% |
Rent by Suburb — Top 40
| Suburb | 2-Bed Unit | 3-Bed House | Room | Train to CBD |
|---|---|---|---|---|
| Melbourne CBD | $550 | N/A | $300 | 0 min |
| South Yarra | $520 | $750 | $310 | 5 min |
| St Kilda | $480 | $680 | $280 | Tram 20 min |
| Fitzroy | $510 | $720 | $290 | Tram 15 min |
| Richmond | $490 | $680 | $280 | 5 min |
| Prahran | $500 | $710 | $290 | 8 min |
| Brunswick | $440 | $620 | $250 | Tram 20 min |
| Carlton | $460 | $650 | $270 | Tram 10 min |
| Collingwood | $480 | $670 | $275 | 10 min |
| Northcote | $450 | $640 | $260 | 15 min |
| Thornbury | $420 | $600 | $240 | 18 min |
| Preston | $400 | $560 | $230 | 20 min |
| Coburg | $390 | $550 | $225 | 22 min |
| Footscray | $380 | $520 | $220 | 10 min |
| Yarraville | $420 | $580 | $240 | 15 min |
| Seddon | $410 | $560 | $235 | 12 min |
| Kensington | $450 | $620 | $255 | 8 min |
| Essendon | $430 | $610 | $245 | 18 min |
| Moonee Ponds | $440 | $620 | $250 | 15 min |
| Ascot Vale | $420 | $590 | $240 | 12 min |
| South Melbourne | $510 | $700 | $290 | Tram 10 min |
| Port Melbourne | $520 | $720 | $295 | Tram 15 min |
| Albert Park | $540 | $750 | $305 | Tram 12 min |
| Windsor | $470 | $650 | $270 | 8 min |
| Balaclava | $440 | $610 | $260 | 10 min |
| Elwood | $460 | $640 | $265 | Tram 25 min |
| Hawthorn | $470 | $660 | $270 | 10 min |
| Camberwell | $460 | $650 | $265 | 15 min |
| Glen Iris | $440 | $620 | $255 | 18 min |
| Carnegie | $410 | $580 | $240 | 20 min |
| Bentleigh | $420 | $590 | $245 | 22 min |
| Reservoir | $370 | $510 | $210 | 25 min |
| Sunshine | $340 | $470 | $195 | 18 min |
| Werribee | $320 | $440 | $180 | 35 min |
| Craigieburn | $350 | $480 | $190 | 40 min |
| Dandenong | $360 | $490 | $200 | 35 min |
| Frankston | $350 | $480 | $195 | 55 min |
| Clayton | $380 | $530 | $215 | 25 min |
| Box Hill | $400 | $560 | $225 | 22 min |
| Doncaster | $420 | $590 | $240 | Bus 35 min |
Budget Calculator
Student budget (single, sharing):
- Room: $220–280/week
- Best suburbs: Footscray, Sunshine, Reservoir, Clayton, Preston
- Monthly total with bills: $1,200–$1,500
Young professional (1-bed unit):
- Rent: $380–480/week
- Best suburbs: Footscray, Preston, Coburg, Sunshine, Reservoir
- Monthly total with bills: $2,000–$2,500
Couple (2-bed unit):
- Rent: $400–520/week
- Best suburbs: Brunswick, Thornbury, Footscray, Yarraville, Coburg
- Monthly total with bills (split): $1,400–$1,800 each
Family (3-bed house):
- Rent: $520–680/week
- Best suburbs: Reservoir, Sunshine, Werribee, Craigieburn, Preston
- Monthly total: $3,500–$4,500
Rent vs Buy Comparison
| Suburb | Weekly Rent (2BR) | Monthly Mortgage (equiv.) | Breakeven Years |
|---|---|---|---|
| Footscray | $380 | $4,200 | 4.5 |
| Sunshine | $340 | $3,500 | 3.8 |
| Reservoir | $370 | $3,950 | 4.2 |
| Preston | $400 | $4,900 | 5.1 |
| Brunswick | $440 | $6,500 | 7.2 |
| Fitzroy | $510 | $8,400 | 9.8 |
Mortgage assumes 20% deposit, 6.2% variable rate, 30-year term.
Rental Market Trends
- CBD glut resolved — Vacancy rate dropped from 8% (2024) to 3.5% (2026)
- Inner west booming — Footscray/Yarraville/Seddon rents up 8-12% in 12 months
- Share house demand — International student return pushing room prices up 15% since 2024
- Outer suburbs stable — Werribee/Craigieburn rents flat YoY, best value in Melbourne
Updated: March 2026. Sources: REIV, Domain, SQM Research.
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