Cheltenham
Cheltenham is the rare middle-ring Melbourne suburb where the headline contradicts the postcode: a $1.33M house median and SEIFA decile 8 across IRSAD, IRSD and IEO, yet a crime rate of 92.7 per 1,000 residents that runs roughly 2.5x neighbouring Bentleigh East's 36.3, driven almost entirely by 1,474 property and deception offences clustered around the Southland Westfield retail catchment. The suburb's 23,992 residents sit on a 10.52 sq km footprint at 2,281/km density, with 31.3% born overseas (9.7pp above the national share) and 47.0% university-educated (16.9pp above national). Greek ancestry (1,494) and Greek as the top non-English language (460 speakers) anchor a heritage layer shared with Oakleigh and Bentleigh, while Mandarin (389) marks newer arrivals. Prices ran from $690k (2013) to a $1.35M peak in 2022 to $1.33M (Apr-Jun 2024), a 5.6% CAGR over 12 years with only a 2.2% retracement from peak, shallower than Mount Waverley's correction.
Population
23,992
Median Age
40.0
Household IncomeiMedian weekly household income (ABS Census)
$1,919/wk
DAs (12 months)iDevelopment Applications lodged in the past year
85
Median House
$1.3M
Apr-Jun 2024
The entry point is $1,330,000 for a house, down 2.2% from the 2022 peak of $1.35M but still 91.3% above 2013's $690k median, a 5.6% compound annual growth rate over 12 years. Stock is materially more mixed than Bentleigh East: 58.4% separate houses, 22.7% semi-detached townhouses, and 18.5% apartments, reflecting infill density around the train station and Southland. Bedrooms tilt to 3-bed (43.1%) and 2-bed (30.2%), with only 23.0% four-plus, lower than Bentleigh East's 34.5% four-bed share and a sign that family-sized stock is thinner. Tenure runs 33.8% owned outright, 38.3% mortgaged, 27.9% rented, a renter share noticeably above Bentleigh East's 24.4%. Mortgage-to-income at 26.5% sits below the 30% stress line, supported by a median household weekly income of $1,919 (71.9th percentile nationally). The honest read: the $1.33M baseline is real, but downsizers can find legitimate 2-bed townhouse stock in the $700-900k band that does not exist in Glen Iris.
For Buyers
The entry point is $1,330,000 for a house, down 2.2% from the 2022 peak of $1.35M but still 91.3% above 2013's $690k median, a 5.6% compound annual growth rate over 12 years. Stock is materially more mixed than Bentleigh East: 58.4% separate houses, 22.7% semi-detached townhouses, and 18.5% apartments, reflecting infill density around the train station and Southland. Bedrooms tilt to 3-bed (43.1%) and 2-bed (30.2%), with only 23.0% four-plus, lower than Bentleigh East's 34.5% four-bed share and a sign that family-sized stock is thinner. Tenure runs 33.8% owned outright, 38.3% mortgaged, 27.9% rented, a renter share noticeably above Bentleigh East's 24.4%. Mortgage-to-income at 26.5% sits below the 30% stress line, supported by a median household weekly income of $1,919 (71.9th percentile nationally). The honest read: the $1.33M baseline is real, but downsizers can find legitimate 2-bed townhouse stock in the $700-900k band that does not exist in Glen Iris.
For Investors
The yield math is better than typical Glen Eira inner-east stock but still thin: $430/wk rent against a $1.33M median is a 1.68% gross yield, cashflow-negative once outgoings are loaded but slightly ahead of Bentleigh East's 1.7% on a much higher entry price. Renter share at 27.9% is higher than Bentleigh East (24.4%) and the published vacancy rate of 7.0% looks high versus the sub-2% reality typical of the Frankston-line corridor, suggesting a data artefact rather than slack demand. Where Cheltenham earns investor attention is the development pipeline anchored by Southland Westfield, the upgraded Cheltenham station, and Monash Health Moorabbin precinct: 27 planning permits lodged in the past 12 months including 2-lot subdivisions and double-storey dwelling pairs. Capital growth has run at a 5.6% CAGR over 12 years, ahead of national capital-city averages of 4-5% nominal, and the 22.7% semi-detached share means depreciation-friendly newer townhouse stock is genuinely available rather than only postwar weatherboards.
Development Activity
Total DAs
101
Last 12 Months
85
YoY ChangeiYear-over-year change in DA lodgements
+844.4%
Avg DA CostiAverage estimated cost per DA in the past year
N/A
Monthly DA Lodgements
DA Categories
Schools in Cheltenham iICSEA: school advantage index. 1000 = national avg, higher = more advantaged
Cheltenham East Primary School
Prep-6 · 392 students
Cheltenham Primary School
Prep-6 · 402 students
Our Lady of the Assumption School
Prep-6 · 257 students
Le Page Primary School
Prep-6 · 215 students
Kingston Heath Primary School
Prep-6 · 184 students
Demographics
The 23,992 residents skew exactly on the national median age of 40, but the composition signals are sharp. 47.0% hold a university degree, 16.9 percentage points above the national level, putting Cheltenham firmly in the top quintile for tertiary attainment though a step below Bentleigh East's 52.0%. 31.3% were born overseas (9.7pp above national), with ancestry running English (7,732), Irish (2,634), Scottish (2,266) and Greek (1,494) as the standout heritage layer. Greek tops the non-English language table at 460 speakers, followed by Mandarin (389), Russian (193), Hindi (118) and Italian (117), an unusually European-weighted mix compared with the Mandarin-dominant profile of Glen Waverley or Mount Waverley. Christianity counts 10,445 residents, Hinduism 613, Buddhism 397. Average household size is 2.4, 0.1 below the national average, consistent with the higher apartment and townhouse share and 24.4% couples-without-children. Volunteering runs at 12.8%.
Age Distribution
Bedrooms
Dwelling Structure
58.4%
Houses
22.7%
Townhouse
18.5%
Apartment
Tenure
Price-to-income tells a more livable affordability story than Bentleigh East: a $1.33M median against $99.8k annual household income gives a 13.3x ratio, comparable to the 13.1x in Bentleigh East but on a $180k cheaper entry ticket. The 12-year arc runs from $690k (2013) to a $1.35M peak in 2022 to $1.33M (Apr-Jun 2024), a 5.6% CAGR with a -2.2% peak retracement, shallower than Mount Waverley's deeper correction. Tenure splits 33.8% outright, 38.3% mortgaged, 27.9% rented, a healthier outright share than greenfield suburbs but more rented stock than Bentleigh East. The dwelling mix is the distinguishing feature: 58.4% separate house, 22.7% semi-detached townhouse, 18.5% apartment, materially more medium-density than Bentleigh East's 14.1%/16.5% split. Only 23.0% of dwellings are four-plus bedrooms compared with 43.1% three-bed, evidence of active townhouse infill near the station. Mortgage-to-income at 26.5% is below the 30% stress threshold.
Median House Price Trend
Source: State Valuer-General
Mortgage / mo
$2,200
Rent / wk
$430
HH Size
2.4
Personal Income / wk
$924
Vacancy Ratei% of dwellings unoccupied on Census night (ABS 2021)
7.0%
Unoccupied
717
Rent / IncomeiMedian rent as % of household income. Over 30% = housing stress
22.4%
Mortgage / IncomeiMedian mortgage as % of household income. Over 30% = housing stress
26.5%
Community Profile
Languages Spoken at Home
Ancestry
Household Composition
24.4%
Couples, no children
19,005
Total families
Economy & Employment
The labour profile reads middle-class established bayside with a healthcare-heavy bias. 3,576 work as Professionals and 2,024 as Managers, together 60.7% of the employed pool of 9,219, well above the national 35-40% share. Healthcare leads industries at 15.9% (1,430 jobs), an unusually high share driven by Monash Health Moorabbin and the broader hospital precinct, followed by Professional/Tech (12.7%, 1,145), Education (12.0%, 1,081), Construction (9.0%) and Retail (7.1%, 637 jobs anchored by Southland Westfield). Unemployment sits at 4.4% with a 64.1% full-time rate. SEIFA scores cluster in decile 8: IRSAD 1,076, IEO 1,088, IRSD 1,059, with IER lagging at decile 7 (1,032), the same education-outpacing-income pattern seen in Glen Waverley and Bentleigh East where outright-owner cohorts pull earned income below the educational profile.
Socio-Economic Indexes (SEIFA)iABS index ranking suburbs from 1 (most disadvantaged) to 10 (most advantaged)
Full-time
64.1%
Part-time
31.5%
Participation
61.6%
Employed
11,578
Occupations
Top Industries
University
47.0%
Postgraduate
12.6%
Born Overseas
31.3%
Dwellings
9,465
Transport to Work
Cheltenham's headline livability paradox is genuine: SEIFA IRSAD decile 8 (top 20% nationally), six schools all above the 1,054 ICSEA mark, Frankston-line rail and Southland Westfield within the suburb, but a crime rate of 92.7 per 1,000 residents that is roughly 2.5x Bentleigh East's 36.3. The crime profile is concentrated: 1,474 of 2,225 incidents are property and deception offences (66% of total), driven by the Southland retail catchment and shoplifting volume rather than residential burglary, with crimes against the person at only 292 (13%). Schools are a clear asset: Cheltenham East Primary (ICSEA 1,122, 392 enrolled) and Cheltenham Primary (1,116, 402) are both top-quintile government primaries above the 1,000 national mean, alongside Cheltenham Secondary College (1,054, 759 students). Transport mix runs 5.6% public transport, 83.6% car driver, the station provides the rail option but car remains dominant.
Drive
83.6%
Public Transport
5.6%
Walk / Cycle
5.4%
Work from Home
N/A
Safety & Crime
Total Offences
2,225
Year ending June 2024
Rate per 1,000 People
92.7
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 Cheltenham compares to ~15,000 Australian suburbs
Frequently Asked Questions
Is Cheltenham a good suburb to live in?
By the data, yes with one major caveat. SEIFA IRSAD decile 8 (top 20% nationally), 47.0% university-educated (16.9pp above national), 6 schools all above ICSEA 1,054, train line plus Southland Westfield, and median house at $1.33M. The caveat is crime at 92.7 per 1,000 residents, around 2.5x neighbouring Bentleigh East, driven by Southland retail shoplifting rather than residential break-ins.
What is the median house price in Cheltenham?
The median house price is $1,330,000 (Apr-Jun 2024), down 2.2% from the 2022 peak of $1.35M but 91.3% above 2013's $690,000 median. That works out to a 5.6% compound annual growth rate over 12 years, ahead of Bentleigh East's 5.1% CAGR and the 4-5% national capital-city average.
What schools are in Cheltenham?
Six schools sit inside Cheltenham, all above the 1,054 ICSEA mark: Cheltenham East Primary (ICSEA 1,122, 392 students), Cheltenham Primary (1,116, 402), Our Lady of the Assumption Catholic (1,107, 257), Le Page Primary (1,080, 215), Kingston Heath Primary (1,075, 184), and Cheltenham Secondary College (1,054, 759). Cheltenham East Primary tops the list at roughly 122 points above the national ICSEA mean.
Is Cheltenham safe?
Crime sits at 92.7 incidents per 1,000 residents (2,225 incidents in 12 months), higher than most middle-ring Melbourne suburbs. The composition matters though: 1,474 (66%) are property and deception offences concentrated around the Southland retail catchment, while crimes against the person are 292 (13%). Residential streets away from Southland behave more like the broader Kingston LGA average.
Is Cheltenham good for property investment?
Mixed. The 1.68% gross yield ($430/wk on $1.33M median) is weak, comparable to Bentleigh East's 1.7%, but capital growth has run at 5.6% CAGR over 12 years. 27.9% of dwellings are rented (above Bentleigh East's 24.4%), and 22.7% are semi-detached townhouses offering depreciation-friendly newer stock. Better for capital-growth investors than yield-focused ones.
How is Cheltenham's population changing?
Cheltenham's 23,992 residents sit at 2,281/km density on a fully built 10.52 sq km footprint, with growth driven by townhouse and apartment infill rather than greenfield expansion. 27 planning permits were lodged in 12 months, and the 31.3% overseas-born share (9.7pp above national) reflects ongoing migrant settlement around Southland, the upgraded station, and the Monash Health Moorabbin precinct.
What languages are spoken in Cheltenham?
31.3% of Cheltenham residents were born overseas, 9.7 percentage points above the national average. The top non-English languages are Greek (460 speakers), Mandarin (389), Russian (193), Hindi (118), and Italian (117). Greek tops the table, anchoring the historical Oakleigh-Bentleigh Greek corridor, with Mandarin and Russian reflecting newer migration layers.
How much development is happening in Cheltenham?
27 planning permits were lodged in the past 12 months, mostly 2-lot subdivisions and double-storey dwelling pairs on existing lots rather than apartment towers. The dwelling mix is already 22.7% semi-detached townhouses and 18.5% apartments alongside 58.4% separate houses, materially more medium-density than Bentleigh East's 14.1% semi-detached share, evidence of sustained infill near the station and Southland.
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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