Cremorne
With household income sitting in the 97th percentile nationally and a median age of just 32, eight years below the national average, Cremorne packs an unusual combination into 0.68 square kilometres. The suburb's 2,158 residents are overwhelmingly professional: 66.9% hold university qualifications, which is 36.8 percentage points above the national figure. Yet 51% rent rather than own, and the vacancy rate hits 17.3%, reflecting a high-turnover apartment market where 44.3% of dwellings are units. The median house price reached $1,440,000 in the April to June 2024 quarter, and 30 development applications were lodged in the past 12 months, including an eleven-storey mixed-use proposal, signalling active urban densification.
Population
2,158
Median Age
32.0
Household IncomeiMedian weekly household income (ABS Census)
$2,959/wk
DAs (12 months)iDevelopment Applications lodged in the past year
43
Median House
$1.4M
Apr-Jun 2024
The median house price of $1,440,000 in April to June 2024 is well above state and national medians, though it pulled back 12.2% from a peak of $1,640,000 in January to March 2024. Since 2013 the price has risen 75.4% from $821,000, a compound annual growth rate of 4.1% over 14 years. Only 11.4% of dwellings are separate houses, so buyers competing for detached stock face genuine scarcity. Semi-detached homes make up 44.2% and apartments 44.3%, with two-bedroom dwellings dominating at 47.8% of the stock. Monthly mortgage repayments average $2,300, producing a mortgage-to-income ratio of 18.0%, comfortably below the 30% stress threshold despite the high purchase price, because household incomes here rank above 97% of Australian households.
For Buyers
The median house price of $1,440,000 in April to June 2024 is well above state and national medians, though it pulled back 12.2% from a peak of $1,640,000 in January to March 2024. Since 2013 the price has risen 75.4% from $821,000, a compound annual growth rate of 4.1% over 14 years. Only 11.4% of dwellings are separate houses, so buyers competing for detached stock face genuine scarcity. Semi-detached homes make up 44.2% and apartments 44.3%, with two-bedroom dwellings dominating at 47.8% of the stock. Monthly mortgage repayments average $2,300, producing a mortgage-to-income ratio of 18.0%, comfortably below the 30% stress threshold despite the high purchase price, because household incomes here rank above 97% of Australian households.
For Investors
A 51% renter majority and weekly rent of $550 give Cremorne landlords a large tenant base, but the 17.3% vacancy rate warrants attention, above the level that typically indicates equilibrium. Against the $1,440,000 median, that rent implies a gross yield around 2.0%, low by investment standards. The 26% of residents who walk or cycle and the 14.9% using public transport suggest genuine urban connectivity, which supports rental demand from professionals who prefer car-light living. Development activity is substantial, with 30 applications lodged in 12 months including high-density mixed-use proposals, so new supply is coming. The 49.2% annual resident turnover rate confirms a transient tenant pool where leasing speed matters more than yield compression.
Development Activity
Total DAs
47
Last 12 Months
43
YoY ChangeiYear-over-year change in DA lodgements
+4200.0%
Avg DA CostiAverage estimated cost per DA in the past year
N/A
Monthly DA Lodgements
DA Categories
Demographics
The median age of 32 sits 8.0 years below the national average, making Cremorne one of the younger resident bases in inner Melbourne. University qualifications reach 66.9%, which is 36.8 percentage points above the national figure, reflecting the suburb's pull on knowledge-economy workers. Average household size is 2.0, compared to a national average of 2.5, consistent with a population of couples without children, who make up 53.3% of families. Overseas-born residents account for 26.3%, a modest 4.7 points above national. Ancestry is predominantly Anglo-Celtic, led by English (813), Irish (359) and Scottish (282) heritage, with Italian (123) the first non-Anglo group. The 49.2% turnover rate means roughly half the population changes each year, the hallmark of a high-demand inner-urban rental market.
Age Distribution
Bedrooms
Dwelling Structure
11.4%
Houses
44.2%
Townhouse
44.3%
Apartment
Tenure
Tenure is renter-majority at 51%, with mortgage holders at 32% and outright owners at just 17.1%, a pattern that reflects the young profile and the high proportion of recent arrivals. Semi-detached homes and apartments each account for around 44% of the stock, while separate houses make up only 11.4%. Two-bedroom dwellings dominate at 47.8%, with three-bedroom at 26.3% and studios or one-bedrooms at 22.2%. The median house price has grown 75.4% since 2013, from $821,000 to $1,440,000, at a compound annual rate of 4.1%. The peak of $1,640,000 in January to March 2024 was followed by a 12.2% correction by the June quarter. Rent-to-income at 18.6% keeps tenants in a comfortable position relative to many comparable inner-city markets.
Median House Price Trend
Source: State Valuer-General
Mortgage / mo
$2,300
Rent / wk
$550
HH Size
2.0
Personal Income / wk
$1,574
Vacancy Ratei% of dwellings unoccupied on Census night (ABS 2021)
17.3%
Unoccupied
209
Rent / IncomeiMedian rent as % of household income. Over 30% = housing stress
18.6%
Mortgage / IncomeiMedian mortgage as % of household income. Over 30% = housing stress
18.0%
Community Profile
Languages Spoken at Home
Ancestry
Household Composition
53.3%
Couples, no children
1,271
Total families
Economy & Employment
Professional and technical services dominate at 23.2% of the employed workforce (315 workers), well ahead of healthcare at 11.8% (160) and education at 8.8% (119). Construction (8.3%, 112 workers) and finance (6.9%, 93 workers) round out the top five, consistent with an economy oriented toward knowledge and services. By occupation, Professionals (722) and Managers (360) together account for the majority of the employed labour force. The unemployment rate is just 2.4%, significantly below the national rate, and labour-force participation reaches 80.9%. Personal weekly income averages $1,574 and family weekly income $3,639. Cremorne scores decile 10 on IRSAD, IEO and IRSD, the highest advantage tier nationally, though the IER score of decile 4 reflects that the 51% renter base holds less property wealth than ownership-dominant suburbs at similar income levels.
Socio-Economic Indexes (SEIFA)iABS index ranking suburbs from 1 (most disadvantaged) to 10 (most advantaged)
Full-time
78.4%
Part-time
19.2%
Participation
80.9%
Employed
1,564
Occupations
Top Industries
University
66.9%
Postgraduate
17.6%
Born Overseas
26.3%
Dwellings
999
Transport to Work
Cremorne's transport profile is unusually active: 26.0% of residents walk or cycle, the highest non-car mode share, and 14.9% use public transport, while 56.4% drive, well below the national car-dependence average. No schools are recorded within the 0.68 square kilometre boundary, so families rely on institutions in adjacent suburbs. The crime rate of 182.6 offences per 1,000 residents is elevated compared to many Melbourne suburbs, with 317 of 394 recorded offences falling in the property and deception category, a pattern typical of high-density inner-urban areas rather than evidence of personal safety risk. IRSAD sits at decile 10, the top advantage tier nationally. The rent-to-income ratio of 18.6% keeps housing costs manageable for tenants relative to their high incomes. Only 2.2% of residents require daily assistance, consistent with the young, healthy population profile.
Drive
56.4%
Public Transport
14.9%
Walk / Cycle
26.0%
Work from Home
N/A
Safety & Crime
Total Offences
394
Year ending June 2024
Rate per 1,000 People
182.6
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 Cremorne compares to ~15,000 Australian suburbs
Frequently Asked Questions
Is Cremorne a good suburb to live in?
Cremorne ranks in decile 10 on IRSAD, IEO and IRSD, the top advantage tier nationally, with household income in the 97th percentile. The median age of 32 is 8 years below the national average, attracting young professionals. The main trade-offs are a 17.3% vacancy rate and a crime rate of 182.6 per 1,000 residents, driven largely by property offences typical of high-density inner-city areas.
What is the median house price in Cremorne?
The median house price was $1,440,000 in the April to June 2024 quarter, down 12.2% from a peak of $1,640,000 in January to March 2024. Since 2013 prices have risen 75.4% from $821,000 at a compound annual growth rate of 4.1%. Weekly rent averages $550 and monthly mortgage repayments average $2,300.
What schools are in Cremorne?
No schools are recorded within the 0.68 square kilometre Cremorne boundary in this dataset. Families rely on schools in neighbouring inner-Melbourne suburbs. The local adult population is highly educated, with 66.9% holding university qualifications, which is 36.8 percentage points above the national figure.
Is Cremorne safe?
Cremorne recorded 394 offences, giving a rate of 182.6 per 1,000 residents, which is above the levels seen in many Melbourne suburbs. However, 317 of those offences were property and deception related, consistent with high-density urban areas. Crimes against the person totalled just 28, and the suburb scores decile 10 on the IRSD index of relative disadvantage.
Is Cremorne good for property investment?
Rents of $550 per week against a $1,440,000 median imply a gross yield around 2.0%, low by investment standards. The 17.3% vacancy rate signals oversupply in the apartment segment. However, the 51% renter majority provides a deep tenant base, and 30 development applications in 12 months confirm active demand for urban density, which can support long-run capital growth.
How is Cremorne's population changing?
Cremorne has a young and mobile population of 2,158 residents with a median age of 32, compared to the national average of 40. The 49.2% annual turnover rate means roughly half of residents change each year, reflecting its character as a professional rental market. The 30 development applications in the past 12 months, including high-density mixed-use proposals, signal continued growth in dwelling supply.
How much development is happening in Cremorne?
There were 30 development applications lodged in the past 12 months, including a proposal for an eleven-storey mixed-use development with offices, ground-floor retail and a basement car park. This is substantial for a suburb of just 0.68 square kilometres and 2,158 residents, indicating active densification consistent with Cremorne's inner-urban, high-income profile.
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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