Caulfield
A $3,000,000 median house price and decile 10 scores on both the IEO and IRSAD SEIFA indexes mark Caulfield as one of Melbourne's entrenched wealth pockets, yet the story sits on a distinctive cultural base. Judaism is the largest religion at 2,381 residents, well ahead of Christianity at 1,194, and 42.1% of the 5,748 population were born overseas, 20.5 points above the national figure. University qualifications reach 57.5%, which is 27.4 points above national, and the median age of 42 runs 2.0 years above national. Despite the prestige, 32.8% of homes are rented and dwelling stock splits almost evenly between separate houses at 39.9% and semi-detached at 37.9%.
Population
5,748
Median Age
42.0
Household IncomeiMedian weekly household income (ABS Census)
$2,143/wk
DAs (12 months)iDevelopment Applications lodged in the past year
18
Median House
$3.0M
Apr-Jun 2024
Buyers face a $3,000,000 median house price that has climbed from $1,172,500 in 2013, a 155.9% rise that works out to 6.9% compound annual growth over 14 years. The most recent jump was steep, lifting from $2,250,000 in early 2024 to $3,000,000 by the June quarter. Stock is split between separate houses at 39.9% and semi-detached dwellings at 37.9%, with apartments only 21.5%, so a standalone house competes against limited supply. Three-bedroom homes are the most common at 35.5%, ahead of two-bedroom at 30.3% and four-plus at 27.7%. Monthly mortgage repayments average $2,500, giving a mortgage-to-income ratio of 26.9%, below the 30% stress threshold because household income sits in the 81.6th percentile nationally.
For Buyers
Buyers face a $3,000,000 median house price that has climbed from $1,172,500 in 2013, a 155.9% rise that works out to 6.9% compound annual growth over 14 years. The most recent jump was steep, lifting from $2,250,000 in early 2024 to $3,000,000 by the June quarter. Stock is split between separate houses at 39.9% and semi-detached dwellings at 37.9%, with apartments only 21.5%, so a standalone house competes against limited supply. Three-bedroom homes are the most common at 35.5%, ahead of two-bedroom at 30.3% and four-plus at 27.7%. Monthly mortgage repayments average $2,500, giving a mortgage-to-income ratio of 26.9%, below the 30% stress threshold because household income sits in the 81.6th percentile nationally.
For Investors
A 32.8% renter share and weekly rent of $475 give landlords a working tenant pool, but yields are thin against the $3,000,000 median, implying a gross return well below 1%. The 9.0% vacancy rate points to softness in the rental segment, weighted toward the 21.5% apartment stock. Demand support comes mainly from overseas migration, which adds a net 555 residents a year across the surrounding area, while internal migration removes 172, so growth leans on new arrivals rather than local churn. Rent grew 21.7% over the measurement period and development is modest at 16 applications in 12 months, mostly amendments rather than new dwellings. The case rests on capital growth and the area's decile 10 advantage rather than rental income.
Development Activity
Total DAs
26
Last 12 Months
18
YoY ChangeiYear-over-year change in DA lodgements
+800.0%
Avg DA CostiAverage estimated cost per DA in the past year
N/A
Monthly DA Lodgements
DA Categories
Demographics
The median age of 42 is 2.0 years above national, and the trajectory is aging, with the senior share up 3.4 points and the working-age share down 1.7 points. Overseas-born residents reach 42.1%, which is 20.5 points above national, reflecting a strongly international population. The cultural signature is religious rather than purely ethnic: Judaism leads at 2,381 residents, nearly double Christianity's 1,194, with Hinduism at 130. Ancestry is led by English at 1,057 and Polish at 481, and the top non-English languages are Russian at 131 speakers, Mandarin at 81 and Greek at 72. University qualifications at 57.5% run 27.4 points above national, and average household size is 2.4, just 0.1 below the national figure.
Age Distribution
Bedrooms
Dwelling Structure
39.9%
Houses
37.9%
Townhouse
21.5%
Apartment
Tenure
Tenure splits into three blocks: 38.7% own outright, 28.5% carry a mortgage and 32.8% rent. Outright owners outnumbering mortgage holders signals long-held, debt-free wealth rather than a churn of recent buyers. Stock is led by separate houses at 39.9% and semi-detached at 37.9%, leaving apartments at 21.5%, so detached supply stays scarce and prices elevated. Three-bedroom dwellings dominate at 35.5%, with two-bedroom at 30.3% and four-plus at 27.7%. The median house price reached $3,000,000 in the June 2024 quarter against a $1,172,500 starting point in 2013, a 155.9% climb. Mortgage-to-income at 26.9% and rent-to-income at 22.2% both stay under the 30% stress line, which is unusual at this price point and reflects incomes in the 81.6th percentile.
Median House Price Trend
Source: State Valuer-General
Mortgage / mo
$2,500
Rent / wk
$475
HH Size
2.4
Personal Income / wk
$978
Vacancy Ratei% of dwellings unoccupied on Census night (ABS 2021)
9.0%
Unoccupied
211
Rent / IncomeiMedian rent as % of household income. Over 30% = housing stress
22.2%
Mortgage / IncomeiMedian mortgage as % of household income. Over 30% = housing stress
26.9%
Community Profile
Languages Spoken at Home
Ancestry
Household Composition
29.4%
Couples, no children
4,260
Total families
Economy & Employment
The workforce concentrates in knowledge and care sectors: Healthcare leads at 17.5% with 390 workers, Professional/Tech follows at 17.3% with 385, and Education sits at 12.4% with 275, ahead of Retail at 7.7% and Finance at 7.5%. By occupation, Professionals at 1,086 and Managers at 499 dominate, consistent with the decile 10 IEO score for education and occupation. Unemployment is low at 4.5% and the full-time rate is 61.0%, though participation reads 58.6%, held down by 1,659 residents not in the labour force, in line with the aging profile. Real incomes grew 16.4% over the decade. One anomaly stands out: the IER economic-resources score sits at decile 7 against decile 10 on advantage, because the 32.8% renter base lowers aggregate household wealth measures.
Unemployment
3.9%
Labour Force
14,580
Unemployed
564
Quarterly Trend
Source: SALM Dec-25
Socio-Economic Indexes (SEIFA)iABS index ranking suburbs from 1 (most disadvantaged) to 10 (most advantaged)
Full-time
61.0%
Part-time
34.5%
Participation
58.6%
Employed
2,720
Occupations
Top Industries
University
57.5%
Postgraduate
14.4%
Born Overseas
42.1%
Dwellings
2,145
Transport to Work
The suburb leans heavily on cars, with 85.3% driving to work and only 4.3% using public transport and 5.4% walking or cycling, below what its inner-Melbourne position might suggest. On safety, 317 offences were recorded at a rate of 55.1 per 1,000 residents, dominated by property and deception offences at 194, while crimes against the person were lower at 45, a profile typical of an affluent area where opportunistic property crime outweighs violence. The suburb scores decile 10 on IRSAD and decile 9 on IRSD, both near the top advantage tier nationally, so few residents face deprivation, and 9.7% of the 5,748 population need daily assistance, consistent with the older median age of 42. No schools are recorded inside the 1.47 km2 boundary in this dataset, so families rely on institutions in neighbouring suburbs.
Drive
85.3%
Public Transport
4.3%
Walk / Cycle
5.4%
Work from Home
N/A
Population Forecast
+0.99%/yr
(+245 people/yr)
EstablishedCaulfield is a slow-growth established market, with annual population growth of 0.99% adding about 245 residents a year and a 13.1% rise over the past decade. The aging shift is clear, with the senior share up 3.4 points and the working-age share down 1.7 points. Overseas migration is the engine, contributing a net 555 residents annually across the area, while internal migration runs at a net outflow of 172, so almost all expansion comes from new arrivals. Medium forecasts project the wider area population from 24,645 in 2026 to 25,873 by 2031. Affordability improved from 45.2% in 2011 to 38.4% in 2021 as incomes outpaced costs, and the gentrification reading is early signs rather than advanced, fitting a suburb already near the top of the advantage scale.
Historical + Forecast
Hamilton-Perry + Holt smoothing on ERP 2001-2025
Age Cohort Forecast
Primary Driver
Overseas Migration
Net Overseas / yr
+555
Net Internal / yr
-172
Gentrification Signal
Not gentrifying
Population +19% since 2011, Net internal outflow -172/yr, Strong overseas inflow +555/yr
Safety & Crime
Total Offences
317
Year ending June 2024
Rate per 1,000 People
55.1
Offence Categories
Source: Crime Statistics Agency Victoria / SA Police
National Ranking iPercentile rank among ~15,000 AU suburbs. 90% = higher than 90% of suburbs
How Caulfield compares to ~15,000 Australian suburbs
Frequently Asked Questions
Is Caulfield a good suburb to live in?
Caulfield scores decile 10 on the IRSAD and IEO SEIFA indexes, the top advantage tier nationally, with household income in the 81.6th percentile and university qualifications at 57.5%, which is 27.4 points above national. The main trade-off is a $3,000,000 median house price.
What is the median house price in Caulfield?
The median house price is $3,000,000 as of the June 2024 quarter, up from $1,172,500 in 2013, a 155.9% rise at 6.9% compound annual growth. Weekly rent averages $475 and monthly mortgage repayments run about $2,500, giving a mortgage-to-income ratio of 26.9%.
What schools are in Caulfield?
No schools are recorded inside the 1.47 km2 Caulfield boundary in this dataset, so families rely on schools in neighbouring suburbs. The resident base is highly educated, with university qualifications at 57.5%, which is 27.4 points above the national figure.
Is Caulfield safe?
Caulfield recorded 317 offences at a rate of 55.1 per 1,000 residents. Most were property and deception offences at 194, while crimes against the person were lower at 45. The suburb scores decile 9 on the IRSD disadvantage index, near the top tier, consistent with a low-disadvantage area.
Is Caulfield good for property investment?
Rent of $475 a week against a $3,000,000 median gives a gross yield well below 1%, and the 9.0% vacancy rate signals rental softness. Net overseas migration of 555 a year supports demand, but with rent growth of 21.7% over the period, returns lean on capital growth rather than yield.
How is Caulfield's population changing?
Population growth runs at 0.99% a year, adding about 245 residents, with a 13.1% rise over the past decade. The profile is aging, with the senior share up 3.4 points and the working-age share down 1.7 points. Overseas migration adds a net 555 residents a year, offsetting an internal outflow of 172.
What languages are spoken in Caulfield?
About 42.1% of residents were born overseas, 20.5 points above the national figure. English is the dominant language, with Russian at 131 speakers, Mandarin at 81, Greek at 72 and French at 37 the most common non-English languages, reflecting an international resident mix.
How to read these comparisons
Phrases like "above the national average" reference the unweighted median across Australian suburbs with more than 1,000 residents, not population-weighted national figures. Suburb-level medians are more useful for ranking suburbs against each other; ABS census headlines are population-weighted (so dominated by Sydney and Melbourne) and can read very differently.
Current baseline (refreshed 2026-05-10): median age 40, university-educated 30.1%, born overseas 21.6%, average household size 2.5 people.
Data sources: ABS 2021 Census (demographics, income, tenure), state Valuer-General (house prices), Department of Jobs SALM (unemployment), ACARA (school ICSEA), state Crime Statistics agencies (offences), council DA portals (development applications). Population forecasts use a Hamilton-Perry cohort model calibrated to ABS ERP.
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