Korumburra
A $570,000 median house price sits well below metropolitan Melbourne, and that affordability shapes almost everything else about Korumburra. The 4,749 residents carry a median age of 47, which is 7.0 years above the national figure, and household income falls in the 23.5th percentile nationally, near the bottom quarter. The town stretches across 59.94 km2 at just 79.2 people per km2, so 91.1% of dwellings are separate houses rather than apartments. University qualifications reach 19.5%, which is 10.6 points below the national rate, reflecting a workforce weighted toward healthcare, construction and trades rather than knowledge sectors. Home prices have climbed 141.5% since 2013, yet a 10.1% vacancy rate points to softer rental demand than the long-run growth would suggest.
Population
4,749
Median Age
47.0
Household IncomeiMedian weekly household income (ABS Census)
$1,175/wk
DAs (12 months)iDevelopment Applications lodged in the past year
21
Median House
$570K
Apr-Jun 2024
At a $570,000 median house price, Korumburra is one of Gippsland's more affordable entry points, sitting far below Melbourne medians. Prices have eased 2.6% from the $585,000 peak in late 2023, giving buyers a slightly softer market than the longer trend. The stock suits families: 91.1% of dwellings are separate houses, 51.0% have three bedrooms and 30.2% have four or more, so larger homes on land are the norm rather than apartments. Affordability shows in the numbers, with average monthly mortgage repayments of $1,300 and a mortgage-to-income ratio of 25.6%, comfortably below the 30% stress threshold despite household incomes in the 23.5th percentile. Outright owners at 43.6% outnumber mortgage holders at 36.4%, a sign that many homes are held debt-free by an older, established resident base.
For Buyers
At a $570,000 median house price, Korumburra is one of Gippsland's more affordable entry points, sitting far below Melbourne medians. Prices have eased 2.6% from the $585,000 peak in late 2023, giving buyers a slightly softer market than the longer trend. The stock suits families: 91.1% of dwellings are separate houses, 51.0% have three bedrooms and 30.2% have four or more, so larger homes on land are the norm rather than apartments. Affordability shows in the numbers, with average monthly mortgage repayments of $1,300 and a mortgage-to-income ratio of 25.6%, comfortably below the 30% stress threshold despite household incomes in the 23.5th percentile. Outright owners at 43.6% outnumber mortgage holders at 36.4%, a sign that many homes are held debt-free by an older, established resident base.
For Investors
Only 20.0% of residents rent, a thin tenant pool that is well below the national share, and weekly rent of $270 against the $570,000 median implies a gross yield near 2.5%. The 10.1% vacancy rate is high and signals that rental demand lags the available stock, so vacancy risk is a real consideration here. Demand drivers are modest and balanced: net overseas migration adds about 20 residents a year and net internal migration about 24, so neither dominates. Development activity is light at 22 planning applications over 12 months, including outbuildings and a service station rather than new dwelling supply, which limits both competition and growth catalysts. Rent has risen 43.6% over the decade, so the case rests more on long-term capital growth, where prices are up 141.5% since 2013, than on yield or rapid turnover.
Development Activity
Total DAs
33
Last 12 Months
21
YoY ChangeiYear-over-year change in DA lodgements
+425.0%
Avg DA CostiAverage estimated cost per DA in the past year
N/A
Monthly DA Lodgements
DA Categories
Schools in Korumburra iICSEA: school advantage index. 1000 = national avg, higher = more advantaged
St Joseph's School
Prep-6 · 101 students
Korumburra Secondary College
7-12 · 437 students
Korumburra Primary School
Prep-6 · 343 students
Demographics
The median age of 47 runs 7.0 years above the national figure, and the trajectory is clearly aging: the senior share rose 5.5 points while the working-age share fell 2.0 points over the decade. This older profile explains the small average household size of 2.3, which is 0.2 below national, and the high share of couples without children at 31.7% of families. The community is strongly Anglo-leaning, with overseas-born residents at just 12.2%, which is 9.4 points below national. English ancestry dominates at 2,032 residents, ahead of Scottish (544) and Irish (482), and Italian is both a notable ancestry (253) and the leading non-English language (24 speakers). University qualifications at 19.5% sit 10.6 points below national, consistent with a town built around trades, care work and agriculture rather than professional services.
Age Distribution
Bedrooms
Dwelling Structure
91.1%
Houses
8.3%
Townhouse
N/A
Apartment
Tenure
Tenure leans heavily toward ownership: 43.6% own outright, 36.4% carry a mortgage and only 20.0% rent, a far lower renter share than the national average. Outright owners outnumbering mortgage holders points to long-held, debt-free wealth in an aging population rather than a churn of recent buyers. The stock is overwhelmingly detached at 91.1% separate houses, with semi-detached at 8.3% and effectively no apartments, so three-bedroom (51.0%) and four-plus-bedroom (30.2%) family homes set the tone. The median house price recovered to $570,000 in mid-2024 after dipping to $535,000 earlier that year, still 2.6% below the $585,000 peak. Both stress measures stay comfortable, with mortgage-to-income at 25.6% and rent-to-income at 23.0%, because the $570,000 median is modest relative even to bottom-quartile incomes.
Median House Price Trend
Source: State Valuer-General
Mortgage / mo
$1,300
Rent / wk
$270
HH Size
2.3
Personal Income / wk
$611
Vacancy Ratei% of dwellings unoccupied on Census night (ABS 2021)
10.1%
Unoccupied
213
Rent / IncomeiMedian rent as % of household income. Over 30% = housing stress
23.0%
Mortgage / IncomeiMedian mortgage as % of household income. Over 30% = housing stress
25.6%
Community Profile
Languages Spoken at Home
Ancestry
Household Composition
31.7%
Couples, no children
3,588
Total families
Economy & Employment
The workforce concentrates in essential and hands-on sectors: Healthcare leads at 21.4% (266 workers), Construction follows at 13.1% (163) and Education at 10.6% (132), with Manufacturing at 9.7% and Retail at 7.2%. By occupation, Labourers (279), Community and personal service workers (273) and Professionals (267) are closely matched, a flatter profile than knowledge-economy suburbs. Unemployment is low at 4.1%, but the participation rate of 49.3% sits below what a healthy labour market would show because the aging profile leaves 1,625 residents not in the labour force. The SEIFA scores are mixed: IRSAD and IEO both land at decile 4, below the median, yet IER reaches decile 7, a divergence that reflects high outright home ownership boosting economic resources even as education and occupation scores stay modest.
Unemployment
2.5%
Labour Force
5,292
Unemployed
132
Quarterly Trend
Source: SALM Dec-25
Socio-Economic Indexes (SEIFA)iABS index ranking suburbs from 1 (most disadvantaged) to 10 (most advantaged)
Full-time
56.6%
Part-time
39.3%
Participation
49.3%
Employed
1,866
Occupations
Top Industries
University
19.5%
Postgraduate
3.7%
Born Overseas
12.2%
Dwellings
1,903
Transport to Work
Korumburra is built for cars: 90.6% of residents drive to work while just 0.3% use public transport and 4.0% walk or cycle, far above the national reliance on private vehicles, a function of the 59.94 km2 rural footprint at 79.2 people per km2. The main livability caution is safety, with a crime rate of 122.6 per 1,000 residents that is high for a town this size; the 582 recorded offences are led by justice procedures (227) and property and deception offences (181). SEIFA places the town at IRSAD decile 4 and IRSD decile 5, both below the national midpoint, so relative disadvantage is more present than in wealthier suburbs. No schools are recorded inside the boundary in this dataset, so families rely on schools in neighbouring areas, and 9.1% of residents (408 people) need daily assistance, consistent with the older median age of 47.
Drive
90.6%
Public Transport
0.3%
Walk / Cycle
4.0%
Work from Home
N/A
Population Forecast
+0.88%/yr
(+88 people/yr)
EstablishedKorumburra is classified as established with steady, slow expansion rather than a boom. The forecast trend points to roughly 0.88% annual population growth, and the town added about 12.6% to its population over the decade since 2011. Migration is balanced and small, with net overseas inflow near 20 a year and net internal inflow near 24, so growth comes from gradual drift rather than a single driver. The gentrification stage reads as not gentrifying despite early signs in the data, with a low gentrification score of 4 out of 100, consistent with a SEIFA decile 4 advantage tier that leaves little upward pressure. Affordability has held stable, easing only slightly from 40.0% in 2011 to 41.2% in 2021, and real incomes grew 13.3% over the period, so the outlook is incremental rather than transformative.
Historical + Forecast
Hamilton-Perry + Holt smoothing on ERP 2001-2025
Age Cohort Forecast
Primary Driver
Balanced
Net Overseas / yr
+20
Net Internal / yr
+24
Gentrification Signal
Not gentrifying
Population +13% since 2011
Safety & Crime
Total Offences
582
Year ending June 2024
Rate per 1,000 People
122.6
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 Korumburra compares to ~15,000 Australian suburbs
Frequently Asked Questions
Is Korumburra a good suburb to live in?
Korumburra suits buyers wanting affordable, detached family homes, with a $570,000 median house price well below Melbourne and 91.1% separate houses. Trade-offs include a crime rate of 122.6 per 1,000 residents and SEIFA decile 4 on IRSAD, both below the national midpoint, plus heavy car reliance at 90.6% of commuters.
What is the median house price in Korumburra?
The median house price is $570,000 as of mid-2024, having eased 2.6% from the $585,000 peak in late 2023. Prices are still up 141.5% since 2013. Weekly rent averages $270 and monthly mortgage repayments run about $1,300, giving a comfortable mortgage-to-income ratio of 25.6%.
What schools are in Korumburra?
No schools are recorded inside the Korumburra boundary in this dataset, so families rely on schools in neighbouring areas. The local university qualification rate is 19.5%, which is 10.6 points below the national figure, reflecting a workforce built around healthcare, construction and trades.
Is Korumburra safe?
Korumburra records a crime rate of 122.6 per 1,000 residents, high for a town of 4,749 people. Of the 582 recorded offences, 227 were justice procedures and 181 property and deception offences. The SEIFA IRSD score of decile 5 sits just below the national midpoint, indicating moderate relative disadvantage.
Is Korumburra good for property investment?
Rent of $270 a week against a $570,000 median gives a gross yield near 2.5%, modest, and the 10.1% vacancy rate signals soft rental demand. Only 20.0% of residents rent, a thin tenant pool. With balanced migration near 20 to 24 a year, returns lean on capital growth rather than yield.
How is Korumburra's population changing?
The population of 4,749 is growing slowly at roughly 0.88% a year, up about 12.6% over the decade. The profile is aging, with the senior share up 5.5 points and the working-age share down 2.0 points. The median age of 47 sits 7.0 years above the national figure.
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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