The numbers, in plain English
To rent in Balwyn North without housing stress, a household income of about $144,000/year keeps the rent of $830/week at or below 30% of gross income — the standard affordability benchmark. That rent is our modelled median (no bond data published for Balwyn North yet). Check your income →
To buy the median home ($2,360,000) with a 20% deposit of $472k, repayments at 6.2% over 30 years come to about $11,563/month — comfortable on roughly $463,000/year under the same 30% rule. Saving that deposit at $1,500/month takes about 26.2 years, before stamp duty of $133k. Run your own loan →
That price is the real median of 306 house sales in Balwyn North, published by the state land authority — not an estimate.
Compared to the rest of Victoria, Balwyn North is more expensive to buy than 99% of the state's suburbs (state median $330k) and pricier to rent than 98% (state median $445/week). It sits roughly 11 km from the Melbourne CBD as the crow flies.
For investors, the median rent against the median price gives a gross rental yield of about 1.8% before costs. Net yield calculator →
Modelled medians, not valuations — every formula above is documented on our methodology page.
Affordability by income
$60k income
Rent ($830/wk)
Over budget
Budget: $346/wk
Buy ($2.36M)
Repayments are a stretch
$11,320/mo · deposit in ~52.5yr
$90k income
Rent ($830/wk)
Over budget
Budget: $519/wk
Buy ($2.36M)
Repayments are a stretch
$11,320/mo · deposit in ~35yr
$120k income
Rent ($830/wk)
Over budget
Budget: $692/wk
Buy ($2.36M)
Repayments are a stretch
$11,320/mo · deposit in ~26.3yr
Based on 30% gross income rule for rent; 6% p.a. / 30-year P&I loan at 20% deposit for purchase; 15% savings rate for deposit timeline.
Upfront buying costs
| Purchase price | $2.36M |
| 20% deposit (no LMI) | $472k |
| Stamp duty (Victoria) | $133k |
| Stamp duty (first home buyer) | Same — check eligibility |
| Conveyancing (est.) | $1,500 – $3,000 |
| Building inspection (est.) | $400 – $700 |
| Total upfront (est.) | $608k |
Who lives here & what's nearby
Real figures for Balwyn North — measured, not modelled.
How Balwyn North compares
- Households here earn about 70% more than the typical suburb in Victoria.
- Younger than average — a median age of 42 vs 46 statewide.
Demographics and tenure from the ABS 2021 Census; the socio-economic score is the ABS SEIFA 2021 index of relative disadvantage, scaled 0–100 against every Australian postcode; distances and school counts from OpenStreetMap. Comparisons are against the median suburb in Victoria. Suburb-level price trends aren't shown because no open source publishes them reliably yet — see our data sources.
What's around Balwyn North
Real places nearby — the little things that make a suburb feel like home.
- Leigh Park100 m
- Koonung Creek Reserve900 m
- Cascade Park1.0 km
- Greythorn Park1.1 km
- St Aidan's Tennis Club700 m
- North Balwyn Tennis Club1.1 km
- Old Camberwell Grammarians Football Club1.2 km
- Tony Frizza Sports Centre1.2 km
- Greythorn Library Lounge900 m
- Kew High School Library2.1 km
- Balwyn Library2.5 km
- Bulleen Library2.9 km
- Greythorn Community Hub900 m
- Marwal Centre1.2 km
- 1st North Balwyn Scout Group1.5 km
- The Evergreen Club of Balwyn for Senior Citizens2.8 km
Places within about 3 km, from OpenStreetMap contributors — distances as the crow flies. Something missing or moved? Tell us.
Get to know Balwyn North
Real places to see and hear what living here is actually like.
Neighbourhood at a Glance
Indicative scores based on ABS Census data modelling. Always conduct your own research.
Related reading
Government schemes that may apply
First Home Guarantee (FHBG)
Buy with as little as 5% deposit, no LMI. Up to 35,000 places/year nationwide.
Learn more →First Home Owner Grant (FHOG)
Victoria offers a grant for eligible first home buyers purchasing new builds. Amounts vary.
Learn more →First Home Super Saver (FHSS)
Save up to $50k inside super (taxed at 15% instead of marginal rate), then withdraw for a deposit.
Learn more →Stamp duty concessions
At Balwyn North's median of $2,360,000, VIC's first home buyer concession has phased out — duty is about $133,400.
Learn more →Nearby suburbs in Victoria
What people are saying about Balwyn North
Be the first to share an insight about this suburb
Sign in to share your local knowledge about Balwyn North
Check your personal affordability
Enter your income and see every suburb in Australia ranked for you.
Get pre-approved in Balwyn North
Free broker match. 35+ lenders compared. No obligation.
Rent data for Balwyn North sourced from the ABS 2021 Census, scaled by rental CPI to current values. Calculations use 30% gross income rule, 20% deposit, 6% p.a. loan rate over 30 years. Not financial advice.