Mckinnon
A $1,795,000 median house price sits alongside a 14.5% drop from the 2023 peak of $2,100,000, and the two facts define McKinnon today. Household income reaches the 90.8th percentile nationally, and the suburb scores decile 9 on IRSAD, IEO and IRSD plus decile 8 on IER, the top advantage tiers on all four SEIFA indexes. University qualifications hit 59.3%, which is 29.2 points above the national figure, and 40.0% of residents were born overseas, 18.4 points above national. Across a compact 1.58 km2 the population of 6,878 lives at 4,359 people per km2, denser than most detached-house suburbs at 59.0% separate houses.
Population
6,878
Median Age
40.0
Household IncomeiMedian weekly household income (ABS Census)
$2,410/wk
DAs (12 months)iDevelopment Applications lodged in the past year
25
Median House
$1.8M
Apr-Jun 2024
The $1,795,000 median makes McKinnon a premium Melbourne market, yet timing matters because the price has fallen 14.5% from the Oct-Dec 2023 peak of $2,100,000, a correction that has opened a window for buyers. Over the longer run prices still rose 75.1% from $1,025,000 in 2013, a compound rate of 4.1% a year over 14 years. The stock favours families: 59.0% are separate houses against just 12.8% apartments, and 39.5% of dwellings carry three bedrooms with another 32.8% at four or more. Average monthly mortgage repayments of $2,689 produce a mortgage-to-income ratio of 25.8%, comfortably below the 30% stress threshold thanks to incomes in the 90.8th percentile, so well-qualified buyers face less repayment strain here than the headline price implies.
For Buyers
The $1,795,000 median makes McKinnon a premium Melbourne market, yet timing matters because the price has fallen 14.5% from the Oct-Dec 2023 peak of $2,100,000, a correction that has opened a window for buyers. Over the longer run prices still rose 75.1% from $1,025,000 in 2013, a compound rate of 4.1% a year over 14 years. The stock favours families: 59.0% are separate houses against just 12.8% apartments, and 39.5% of dwellings carry three bedrooms with another 32.8% at four or more. Average monthly mortgage repayments of $2,689 produce a mortgage-to-income ratio of 25.8%, comfortably below the 30% stress threshold thanks to incomes in the 90.8th percentile, so well-qualified buyers face less repayment strain here than the headline price implies.
For Investors
A 33.2% renter share and weekly rent of $516 give landlords a steady tenant base, but the numbers temper enthusiasm. Against the $1,795,000 median that rent implies a gross yield near 1.5%, low even by inner-Melbourne standards, because the price tier rewards owner-occupiers more than yield-seekers. Rent grew 33.1% over the period, so income upside exists, and the 6.6% vacancy rate is moderate rather than oversupplied. Demand support is real: net overseas migration adds 504 residents a year against an internal outflow of 120, and 23 development applications were lodged in 12 months, mostly pairs of double-storey dwellings rather than large new supply. The case rests on capital recovery and rent escalation more than on yield.
Development Activity
Total DAs
33
Last 12 Months
25
YoY ChangeiYear-over-year change in DA lodgements
+525.0%
Avg DA CostiAverage estimated cost per DA in the past year
N/A
Monthly DA Lodgements
DA Categories
Schools in Mckinnon iICSEA: school advantage index. 1000 = national avg, higher = more advantaged
Mckinnon Secondary College
7-12 · 3052 students
Demographics
The median age of 40 matches the national figure exactly, an unusually balanced profile for a high-income area. Overseas-born residents reach 40.0%, which is 18.4 points above national, and university qualifications at 59.3% run 29.2 points above national. Ancestry leans English (1,758) and Chinese (1,167), and the leading non-English languages are Mandarin (386 speakers), Russian (98) and Greek (91). Average household size is 2.8, which is 0.3 above national, consistent with a family-heavy makeup where couples with children number 2,857 against just 1,023 couples without. Judaism is a notable second religion at 657 residents behind Christianity at 2,225, with Hinduism third at 252, reflecting the international resident mix.
Age Distribution
Bedrooms
Dwelling Structure
59.0%
Houses
27.7%
Townhouse
12.8%
Apartment
Tenure
Tenure splits almost evenly: 34.7% carry a mortgage, 33.2% rent and 32.1% own outright, a balance pointing to a mix of established owners and active buyers rather than a churn-driven rental market. The stock is 59.0% separate houses and 27.7% semi-detached, leaving apartments at only 12.8%, which keeps the suburb oriented to families. Three-bedroom dwellings account for 39.5% and four-plus bedroom homes 32.8%. The median rose from $1,025,000 in 2013 to $1,795,000, up 75.1% at a 4.1% compound rate, though it has slipped 14.5% from the 2023 peak. Mortgage-to-income at 25.8% and rent-to-income at 21.4% both sit below the 30% stress line, so housing costs stay manageable relative to the 90.8th-percentile household incomes.
Median House Price Trend
Source: State Valuer-General
Mortgage / mo
$2,689
Rent / wk
$516
HH Size
2.8
Personal Income / wk
$963
Vacancy Ratei% of dwellings unoccupied on Census night (ABS 2021)
6.6%
Unoccupied
164
Rent / IncomeiMedian rent as % of household income. Over 30% = housing stress
21.4%
Mortgage / IncomeiMedian mortgage as % of household income. Over 30% = housing stress
25.8%
Community Profile
Languages Spoken at Home
Ancestry
Household Composition
17.4%
Couples, no children
5,886
Total families
Economy & Employment
The workforce concentrates in knowledge sectors: Professional/Tech leads at 17.1% (456 workers), Healthcare follows at 15.4% (409) and Education at 13.3% (355), with Finance at 7.9% and Retail at 7.0%. By occupation, Professionals (1,277) and Managers (686) dominate, which aligns with the decile 9 IEO score for education and occupation. Unemployment is low at 4.8% and the full-time employment rate is 64.0%, while participation reads 63.8% because the family profile leaves 1,612 residents not in the labour force. SEIFA reads decile 9 on IRSAD, IRSD and IEO but decile 8 on IER, the economic-resources index, a small step down that reflects how the 33.2% renter base trims aggregate household wealth measures despite high incomes.
Unemployment
3.5%
Labour Force
15,635
Unemployed
555
Quarterly Trend
Source: SALM Dec-25
Socio-Economic Indexes (SEIFA)iABS index ranking suburbs from 1 (most disadvantaged) to 10 (most advantaged)
Full-time
64.0%
Part-time
31.2%
Participation
63.8%
Employed
3,313
Occupations
Top Industries
University
59.3%
Postgraduate
18.3%
Born Overseas
40.0%
Dwellings
2,331
Transport to Work
Car reliance is high at 81.5% driving to work, with only 7.4% using public transport and 5.7% walking or cycling, so households here lean on private vehicles more than denser suburbs. The crime rate is 30.2 per 1,000 residents, with property and deception offences (130 of 208 total) the largest category and crimes against the person well behind at 46, a profile weighted toward property rather than violent crime. The suburb scores decile 9 on IRSAD, the top advantage tier nationally, and decile 9 on IRSD for relative disadvantage, so very few residents face deprivation, with only 4.8% (318 people) needing daily assistance. No schools are recorded inside the 1.58 km2 boundary in this dataset, so families rely on institutions in neighbouring suburbs.
Drive
81.5%
Public Transport
7.4%
Walk / Cycle
5.7%
Work from Home
N/A
Population Forecast
+1.25%/yr
(+337 people/yr)
EstablishedMcKinnon is an established suburb growing steadily, with annual population growth of 1.25% and a 10-year rise of 19.2%, faster than typical for an inner area. Overseas migration is the primary driver, adding 504 residents a year against a net internal outflow of 120, so newcomers from abroad more than offset locals moving out. The gentrification stage reads early signs, scoring 41, supported by rent growth of 33.1% and real income growth of 21.7% over the decade. Affordability improved from 56.9% in 2011 to 50.6% in 2021, a 6.3 point easing, though it stays high relative to most markets given the premium price tier. The young-age share slipped 1.4 points while the working-age share edged up 0.5 points.
Historical + Forecast
Hamilton-Perry + Holt smoothing on ERP 2001-2025
Age Cohort Forecast
Primary Driver
Overseas Migration
Net Overseas / yr
+504
Net Internal / yr
-120
Gentrification Signal
Early signs
Population +23% since 2011, Net internal outflow -120/yr, Strong overseas inflow +504/yr, Accelerating: 7% → 14%
Safety & Crime
Total Offences
208
Year ending June 2024
Rate per 1,000 People
30.2
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 Mckinnon compares to ~15,000 Australian suburbs
Frequently Asked Questions
Is McKinnon a good suburb to live in?
McKinnon scores decile 9 on IRSAD, IRSD and IEO, the top advantage tiers nationally, with household income in the 90.8th percentile. University qualifications reach 59.3%, 29.2 points above national. The main trade-offs are a $1,795,000 median house price and high car reliance at 81.5% driving to work.
What is the median house price in McKinnon?
The median house price is $1,795,000 as of Apr-Jun 2024, down 14.5% from the 2023 peak of $2,100,000 but up 75.1% from $1,025,000 in 2013. Weekly rent averages $516 and monthly mortgage repayments run about $2,689, giving a mortgage-to-income ratio of 25.8%.
What schools are in McKinnon?
No schools are recorded inside the 1.58 km2 McKinnon boundary in this dataset, so families rely on schools in neighbouring suburbs. The local population is highly educated, with university qualifications at 59.3%, which is 29.2 points above the national figure.
Is McKinnon safe?
McKinnon recorded 208 offences for a crime rate of 30.2 per 1,000 residents. Property and deception offences make up 130 of those, while crimes against the person are far lower at 46. The suburb scores decile 9 on the IRSD disadvantage index, the highest tier, consistent with a low-disadvantage area.
Is McKinnon good for property investment?
Rent of $516 a week against a $1,795,000 median gives a gross yield near 1.5%, low for the price tier. The 6.6% vacancy rate is moderate and rent grew 33.1% over the period. With overseas migration adding 504 residents a year, returns lean on capital recovery rather than yield.
How is McKinnon's population changing?
The population of 6,878 is growing about 1.25% a year, a 19.2% rise over 10 years. Overseas migration drives it, adding 504 residents annually against a net internal outflow of 120. The profile stays balanced, with the working-age share up 0.5 points and the young-age share down 1.4 points.
What languages are spoken in McKinnon?
About 40.0% of residents were born overseas, 18.4 points above national. English dominates, with Mandarin the most common non-English language at 386 speakers, followed by Russian (98), Greek (91) and Cantonese (56), reflecting a sizeable international resident mix.
How much development is happening in McKinnon?
There were 23 development applications lodged in the past 12 months across the 1.58 km2 suburb. Most involve constructing pairs of double-storey dwellings on existing lots rather than large new estates, consistent with an established suburb growing at 1.25% a year.
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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