Millgrove
A vacancy rate of 9.2% in a suburb where 100% of dwellings are detached houses tells a meaningful story about Millgrove. Located in Melbourne's outer Yarra Valley region, the suburb's 1,666 residents rely almost entirely on cars, with 94% driving to work, well above typical metropolitan rates. Household income sits in the 25th percentile nationally, yet the median house price of $625,000 as of Apr-Jun 2024 has more than doubled from $245,000 in 2013, a 155.1% gain over 14 years at a 6.9% compound annual rate. The workforce leans toward community-facing roles, with Healthcare and Construction dominating local employment.
Population
1,666
Median Age
40.0
Household IncomeiMedian weekly household income (ABS Census)
$1,201/wk
DAs (12 months)iDevelopment Applications lodged in the past year
0
Median House
$625K
Apr-Jun 2024
The median house price of $625,000 as of Apr-Jun 2024 represents a market that has been climbing steadily, up from $592,500 in Jan-Mar 2024 and $581,500 in Oct-Dec 2023. Every dwelling is a separate house, so buyers face no apartment-style trade-off, and 3-bedroom homes are by far the most common at 68.6% of stock. Monthly mortgage repayments average $1,300, giving a mortgage-to-income ratio of 25.0%, which is below the 30% stress threshold, making Millgrove relatively manageable compared to higher-income suburbs with similar prices. With 49% of residents on a mortgage and 35% owning outright, the owner-occupier base is strong, signalling community stability that typically underpins long-term price support.
For Buyers
The median house price of $625,000 as of Apr-Jun 2024 represents a market that has been climbing steadily, up from $592,500 in Jan-Mar 2024 and $581,500 in Oct-Dec 2023. Every dwelling is a separate house, so buyers face no apartment-style trade-off, and 3-bedroom homes are by far the most common at 68.6% of stock. Monthly mortgage repayments average $1,300, giving a mortgage-to-income ratio of 25.0%, which is below the 30% stress threshold, making Millgrove relatively manageable compared to higher-income suburbs with similar prices. With 49% of residents on a mortgage and 35% owning outright, the owner-occupier base is strong, signalling community stability that typically underpins long-term price support.
For Investors
Rental stock is thin, with only 16% of dwellings rented compared to higher proportions in most outer-suburban markets. Weekly rent of $305 against a $625,000 median produces a gross yield around 2.5%, modest but not unusual for tree-change areas. The 9.2% vacancy rate is elevated and warrants attention, suggesting supply either slightly exceeds tenant demand or turnover is higher than average. Development activity in the past 12 months recorded 0 applications, indicating essentially no new supply entering the market. The suburb's 13.2% annual residential turnover rate and the fact that 86.8% of residents stayed put point to a stable owner-occupier base rather than investor churn, which can moderate rental yield competition over time.
Schools in Millgrove iICSEA: school advantage index. 1000 = national avg, higher = more advantaged
Millwarra Primary School
Prep-6 · 47 students
Demographics
The median age of 40 is equal to the national median, sitting at 0 years difference. Overseas-born residents account for 12.5% of the population, which is 9.1 percentage points below the national figure, reflecting the predominantly Anglo-Celtic heritage seen in the top ancestry groups: English (719 residents), Irish (183), Scottish (180) and German (92). University qualifications are held by 14.6% of residents, which is 15.5 percentage points below the national rate, consistent with a working-trades oriented community. The average household size of 2.3 is slightly below the national average. Couples with children make up 456 of the 1,171 total families, while 271 are couples without children, pointing to a mixed family-stage profile rather than a single dominant demographic.
Age Distribution
Bedrooms
Dwelling Structure
100.0%
Houses
N/A
Townhouse
N/A
Apartment
Tenure
Millgrove is exclusively detached housing, with 100% of dwellings being separate houses, compared to the diverse apartment and semi-detached mix found in most metropolitan suburbs. The 3-bedroom configuration dominates at 68.6%, followed by 2-bedroom at 17.9% and 4-plus bedroom at 12.2%, leaving very limited options for smaller households. Price history shows consistent appreciation from $245,000 in 2013 to $625,000 in Apr-Jun 2024, a 155.1% total gain at a CAGR of 6.9% over 14 years. Tenure is owner-heavy: 35% own outright and 49% hold a mortgage, while only 16% rent. Rent-to-income at 25.4% and mortgage-to-income at 25.0% both sit below the 30% stress threshold, meaning housing costs are proportionally manageable relative to local incomes.
Median House Price Trend
Source: State Valuer-General
Mortgage / mo
$1,300
Rent / wk
$305
HH Size
2.3
Personal Income / wk
$607
Vacancy Ratei% of dwellings unoccupied on Census night (ABS 2021)
9.2%
Unoccupied
67
Rent / IncomeiMedian rent as % of household income. Over 30% = housing stress
25.4%
Mortgage / IncomeiMedian mortgage as % of household income. Over 30% = housing stress
25.0%
Community Profile
Ancestry
Household Composition
23.1%
Couples, no children
1,171
Total families
Economy & Employment
Healthcare is the dominant employer at 25.1% of local workers (102 people), roughly double the share of the next sector, Construction at 13.0% (53 workers). Retail and Education are tied at 9.3% each (38 workers), followed by Other Services at 6.9%. By occupation, Community and Personal Services roles lead (120 workers), followed by Labourers (105) and Machinery and Drivers (75), a profile consistent with lower-complexity trades and care work rather than professional or managerial roles. Unemployment sits at 6.9%, higher than the national average, and the participation rate of 47.1% is low, partly because 507 residents are not in the labour force. Household income ranks in the 25.3rd percentile nationally, indicating incomes well below the national median household figure.
Socio-Economic Indexes (SEIFA)iABS index ranking suburbs from 1 (most disadvantaged) to 10 (most advantaged)
Full-time
58.8%
Part-time
34.3%
Participation
47.1%
Employed
595
Occupations
Top Industries
University
14.6%
Postgraduate
2.4%
Born Overseas
12.5%
Dwellings
659
Transport to Work
Car dependency is near-total in Millgrove, with 94% of residents driving to work, substantially above the national average, reflecting the lack of public transport infrastructure common to outer Yarra Valley communities. Walking and cycling account for just 1.7% of commutes. Crime recorded 52 total offences, giving a rate of 31.2 per 1,000 residents. No schools are recorded within the suburb boundary, so families rely on nearby towns for schooling. The volunteering rate of 14.7% indicates reasonable community engagement. Housing stress is low, with rent-to-income at 25.4% and mortgage-to-income at 25.0%, both below the 30% threshold. The suburb's 8.8% of residents needing daily assistance is worth noting as a service demand signal relative to the small overall population of 1,666.
Drive
94.0%
Public Transport
N/A
Walk / Cycle
1.7%
Work from Home
N/A
Safety & Crime
Total Offences
52
Year ending June 2024
Rate per 1,000 People
31.2
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 Millgrove compares to ~15,000 Australian suburbs
Frequently Asked Questions
Is Millgrove a good suburb to live in?
Millgrove suits those seeking a detached-house lifestyle at a median price of $625,000, with housing costs below the 30% stress threshold for both mortgage holders (25.0%) and renters (25.4%). Car dependency is high at 94%, and there are no schools recorded within the suburb, so proximity to Warburton and other Yarra Valley towns matters. Community stability is solid, with 86.8% of residents staying put year to year.
What is the median house price in Millgrove?
The median house price is $625,000 as of Apr-Jun 2024, up from $581,500 in Oct-Dec 2023. That is a 155.1% rise from the 2013 figure of $245,000, equivalent to a 6.9% compound annual growth rate over 14 years. Monthly mortgage repayments average $1,300.
What schools are in Millgrove?
No schools are recorded inside the Millgrove suburb boundary in this dataset. Families typically access schools in nearby Yarra Valley communities such as Warburton and Healesville. Only 14.6% of local residents hold university qualifications, which is 15.5 percentage points below the national figure.
Is Millgrove safe?
Millgrove recorded 52 total offences in the reference period, giving a crime rate of 31.2 per 1,000 residents. The top categories were Crimes against the person (20 offences) and Property and deception offences (20 offences). For context, the suburb's population is only 1,666, so individual incidents have a larger statistical impact on the rate than in larger suburbs.
Is Millgrove good for property investment?
The 14-year price track shows a 155.1% gain from $245,000 to $625,000, with a 6.9% CAGR, stronger than many regional comparisons. However, the 9.2% vacancy rate is elevated, weekly rent is $305 implying a gross yield around 2.5%, and 0 development applications in the past 12 months mean minimal new supply. The 16% renter share is below average, limiting the tenant pool.
How is Millgrove's population changing?
Millgrove has a population of 1,666 across a 9.36 km2 area, giving a density of 177.9 people per km2, lower than most suburban benchmarks. The residential turnover rate is 13.2% annually, with 86.8% of residents staying from year to year. The suburb recorded 0 development applications in the past 12 months, suggesting slow physical growth.
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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