Lakes Entrance
A median age of 55 sits 15 years above the national figure, and almost everything else here follows from that one fact. Household income lands in just the 6.5th percentile nationally, with 2,285 residents not in the labour force against a 34.1% participation rate, because this is a retirement and holiday town rather than a commuter base. Housing is overwhelmingly detached at 82.4% and owned outright by 51.2% of households, yet the vacancy rate runs at 24.6%, inflated by seasonal holiday lets. The median house price of $554,500 stays affordable relative to most of Victoria, and prices have more than doubled since 2013, up 105.8% over the period.
Population
5,145
Median Age
55.0
Household IncomeiMedian weekly household income (ABS Census)
$866/wk
DAs (12 months)iDevelopment Applications lodged in the past year
7
Median House
$554K
Apr-Jun 2024
The $554,500 median house price keeps Lakes Entrance well below metropolitan Melbourne, and the long arc has been strong: prices rose 105.8% from $269,500 in 2013 at a compound 5.3% a year. The near-term picture is softer, with the latest figure sitting 11.3% below the $625,000 peak of early 2024. Stock suits families and downsizers alike, as separate houses make up 82.4% of dwellings and three-bedroom homes 48.4%, with four-bedroom-plus at 24.1%. Outright owners at 51.2% far outnumber the 19.9% still carrying a mortgage, a hallmark of an older, debt-light population. The catch for buyers who borrow is a mortgage-to-income ratio of 32.7%, above the 30% stress threshold, because local incomes are modest even where house prices are not.
For Buyers
The $554,500 median house price keeps Lakes Entrance well below metropolitan Melbourne, and the long arc has been strong: prices rose 105.8% from $269,500 in 2013 at a compound 5.3% a year. The near-term picture is softer, with the latest figure sitting 11.3% below the $625,000 peak of early 2024. Stock suits families and downsizers alike, as separate houses make up 82.4% of dwellings and three-bedroom homes 48.4%, with four-bedroom-plus at 24.1%. Outright owners at 51.2% far outnumber the 19.9% still carrying a mortgage, a hallmark of an older, debt-light population. The catch for buyers who borrow is a mortgage-to-income ratio of 32.7%, above the 30% stress threshold, because local incomes are modest even where house prices are not.
For Investors
Renters make up 28.9% of households and weekly rent averages $252, which against the $554,500 median implies a gross yield near 2.4%, healthier than most premium Victorian markets. The headline risk is the 24.6% vacancy rate, far above any normal market and a direct read on how much of the stock cycles through holiday letting rather than permanent tenancy. Demand support is real but slow: net internal migration adds about 80 residents a year and overseas migration a further 26, with internal movers the primary driver. Development is thin at 8 applications in 12 months, mostly small subdivisions of 2 to 18 lots, so new supply will not flood the market. Rent has grown 35.0% over the measured period, so the case rests on yield and tourism-driven seasonal demand more than rapid capital growth.
Development Activity
Total DAs
22
Last 12 Months
7
YoY ChangeiYear-over-year change in DA lodgements
+250.0%
Avg DA CostiAverage estimated cost per DA in the past year
N/A
Monthly DA Lodgements
DA Categories
Schools in Lakes Entrance iICSEA: school advantage index. 1000 = national avg, higher = more advantaged
St Brendan's School
Prep-6 · 246 students
Lakes Entrance Primary School
Prep-6 · 190 students
Lakes Entrance Secondary College
7-12 · 167 students
Demographics
The median age of 55 runs 15.0 years above the national figure, and the trajectory is firmly aging: the senior share rose 8.8 points while the working-age share fell 5.3 points over the decade. Overseas-born residents sit at 15.0%, which is 6.6 points below national, and the population is strongly Anglo, led by English (2,039), Scottish (549) and Irish (509) ancestry. University qualifications reach only 16.3%, fully 13.8 points below the national rate, consistent with a workforce built on trades, care and hospitality rather than knowledge work. Average household size is 2.1, which is 0.4 below national, reflecting the high count of couples without children at 41.1% of families. Non-English languages are negligible, with Italian (17) and Greek (15) the largest, so this is a markedly less multicultural profile than most of coastal Victoria.
Age Distribution
Bedrooms
Dwelling Structure
82.4%
Houses
13.0%
Townhouse
1.8%
Apartment
Tenure
Tenure tilts heavily to outright ownership: 51.2% own their home outright, 19.9% carry a mortgage and 28.9% rent. Outright owners outnumbering mortgage holders more than two to one signals long-held, debt-free retirement wealth rather than a churn of new buyers. The stock is 82.4% separate houses with apartments at just 1.8%, so density is low at 174.3 residents per square kilometre across 29.52 square kilometres. Three-bedroom dwellings dominate at 48.4% and four-bedroom-plus at 24.1%. The median rose from $269,500 in 2013 to $554,500 by mid-2024, up 105.8% overall, though it now sits 11.3% below the $625,000 peak. Mortgage-to-income at 32.7% exceeds the stress threshold while rent-to-income at 29.1% stays just under it, a gap that reflects how low local incomes are against rising prices.
Median House Price Trend
Source: State Valuer-General
Mortgage / mo
$1,227
Rent / wk
$252
HH Size
2.1
Personal Income / wk
$514
Vacancy Ratei% of dwellings unoccupied on Census night (ABS 2021)
24.6%
Unoccupied
705
Rent / IncomeiMedian rent as % of household income. Over 30% = housing stress
29.1%
Mortgage / IncomeiMedian mortgage as % of household income. Over 30% = housing stress
32.7% stressed
Community Profile
Languages Spoken at Home
Ancestry
Household Composition
41.1%
Couples, no children
3,403
Total families
Economy & Employment
The workforce concentrates in service sectors that match a coastal retirement town: Healthcare leads at 22.9% (220 workers), Hospitality follows at 13.2% (127) and Education at 11.4% (110), with Construction at 8.9% and Retail at 8.0%. By occupation, Community and Personal Service workers (253) and Labourers (247) outnumber Professionals (226), the reverse of high-income suburbs. Unemployment is 5.9%, above the metropolitan norm, and the full-time rate is just 50.3% because so much hospitality and care work is part-time. SEIFA confirms the picture: the suburb scores decile 3 on IEO, IER and IRSD and decile 2 on IRSAD, all in the bottom quartile nationally, driven by low incomes and modest education rather than acute deprivation given the high outright-ownership base.
Unemployment
5.8%
Labour Force
4,703
Unemployed
272
Quarterly Trend
Source: SALM Dec-25
Socio-Economic Indexes (SEIFA)iABS index ranking suburbs from 1 (most disadvantaged) to 10 (most advantaged)
Full-time
50.3%
Part-time
43.8%
Participation
34.1%
Employed
1,408
Occupations
Top Industries
University
16.3%
Postgraduate
3.2%
Born Overseas
15.0%
Dwellings
2,130
Transport to Work
This is a car-dependent town: 85.6% drive to work while public transport carries just 0.3% and 6.2% walk or cycle, far below the national reliance on alternatives. No schools are recorded inside the 29.52 square kilometre boundary in this dataset, so families rely on institutions in neighbouring centres, a practical trade-off for a low-density coastal location. The crime rate is high at 175.5 per 1,000 residents, with 903 offences led by property and deception (371) and justice procedures (240), well above what the small permanent population alone would generate, partly a function of the tourist influx. The suburb scores decile 3 on IRSD for relative disadvantage, in the bottom quartile, and 10.2% of residents (474 people) need daily assistance, consistent with the median age of 55.
Drive
85.6%
Public Transport
0.3%
Walk / Cycle
6.2%
Work from Home
N/A
Population Forecast
+1.17%/yr
(+133 people/yr)
EstablishedLakes Entrance is classed as an established suburb, but the growth signal is positive: the area expanded 18.0% since 2011 and annual growth runs at 1.17%, around 133 people a year. Internal migration is the primary driver at a net 80 residents annually, with overseas migration adding another 26, so the inflow is overwhelmingly Australians relocating rather than new arrivals. Medium forecasts lift the wider area population toward 12,232 by 2031 from 11,331 in 2025. The gentrification score of 31 reads as early signs, supported by accelerating growth that moved from 4% to 13%. Affordability has held stable, near 48.0% in 2021 versus 48.4% in 2011, and real incomes grew 10.6% over the decade, slower than fast-gentrifying markets.
Historical + Forecast
Hamilton-Perry + Holt smoothing on ERP 2001-2025
Age Cohort Forecast
Primary Driver
Internal Migration
Net Overseas / yr
+26
Net Internal / yr
+80
Gentrification Signal
Early signs
Population +18% since 2011, Net internal migration +80/yr, Accelerating: 4% → 13%
Safety & Crime
Total Offences
903
Year ending June 2024
Rate per 1,000 People
175.5
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 Lakes Entrance compares to ~15,000 Australian suburbs
Frequently Asked Questions
Is Lakes Entrance a good suburb to live in?
Lakes Entrance suits retirees and lifestyle buyers, with a median age of 55, 15 years above national, and an affordable $554,500 median house price. The trade-offs are a high crime rate of 175.5 per 1,000 and decile 3 SEIFA scores, in the bottom quartile, reflecting modest incomes in the 6.5th percentile.
What is the median house price in Lakes Entrance?
The median house price is $554,500 as of mid-2024, up 105.8% from $269,500 in 2013 at a compound 5.3% a year. That sits 11.3% below the $625,000 peak of early 2024. Weekly rent averages $252, giving a gross yield near 2.4%.
What schools are in Lakes Entrance?
No schools are recorded inside the 29.52 square kilometre Lakes Entrance boundary in this dataset, so families rely on schools in neighbouring centres. The local profile skews older, with university qualifications at just 16.3%, which is 13.8 points below the national figure.
Is Lakes Entrance safe?
Lakes Entrance records a high crime rate of 175.5 per 1,000 residents, with 903 offences in total, led by property and deception offences (371) and justice procedures (240). The figure is inflated by the tourist influx against a small permanent population of 5,145 residents.
Is Lakes Entrance good for property investment?
Rent of $252 a week against a $554,500 median gives a gross yield near 2.4%, above most premium Victorian markets. The risk is a 24.6% vacancy rate driven by holiday letting. Net internal migration of 80 residents a year supports demand, and rent grew 35.0% over the period.
How is Lakes Entrance's population changing?
The area grew 18.0% since 2011, with annual growth of 1.17%, about 133 people a year. Internal migration drives it at a net 80 residents annually. The profile is aging, with the senior share up 8.8 points and the working-age share down 5.3 points over the decade.
What jobs and industries support Lakes Entrance?
Healthcare is the largest employer at 22.9% of workers (220), followed by Hospitality at 13.2% (127) and Education at 11.4% (110). Unemployment is 5.9%, above the metropolitan norm, and the full-time rate is just 50.3%, reflecting seasonal and part-time tourism work.
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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