The numbers, in plain English
To rent in Eltham without housing stress, a household income of about $115,000/year keeps the rent of $665/week at or below 30% of gross income — the standard affordability benchmark. That rent is our modelled median (no bond data published for Eltham yet). Check your income →
To buy the median home ($1,250,000) with a 20% deposit of $250k, repayments at 6.2% over 30 years come to about $6,125/month — comfortable on roughly $245,000/year under the same 30% rule. Saving that deposit at $1,500/month takes about 13.9 years, before stamp duty of $69k. Run your own loan →
That price is the real median of 191 house sales in Eltham, published by the state land authority — not an estimate.
Compared to the rest of Victoria, Eltham is more expensive to buy than 95% of the state's suburbs (state median $330k) and pricier to rent than 92% (state median $445/week). It sits roughly 21 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 2.8% before costs. Net yield calculator →
Modelled medians, not valuations — every formula above is documented on our methodology page.
Affordability by income
$60k income
Rent ($665/wk)
Over budget
Budget: $346/wk
Buy ($1.25M)
Repayments are a stretch
$5,996/mo · deposit in ~27.8yr
$90k income
Rent ($665/wk)
Over budget
Budget: $519/wk
Buy ($1.25M)
Repayments are a stretch
$5,996/mo · deposit in ~18.6yr
$120k income
Rent ($665/wk)
Affordable
Budget: $692/wk
Buy ($1.25M)
Repayments are a stretch
$5,996/mo · deposit in ~13.9yr
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 | $1.25M |
| 20% deposit (no LMI) | $250k |
| Stamp duty (Victoria) | $69k |
| Stamp duty (first home buyer) | Same — check eligibility |
| Conveyancing (est.) | $1,500 – $3,000 |
| Building inspection (est.) | $400 – $700 |
| Total upfront (est.) | $321k |
Who lives here & what's nearby
Real figures for Eltham — measured, not modelled.
How Eltham compares
- Households here earn about 81% more than the typical suburb in Victoria.
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 Eltham
Real places nearby — the little things that make a suburb feel like home.
- Woodridge Linear Park200 m
- Woodrige Linear Park400 m
- Bainbridge Drive Linear Reserve400 m
- Tadema Park400 m
- Streamline Swim School1.4 km
- Eltham Tennis Club1.5 km
- Skaterz2.1 km
- Eltham Leisure Centre2.1 km
- Eltham Library1.5 km
- Eltham Senior Citizens Centre1.4 km
- Eltham Guides Hall1.5 km
- Eltham Scouts Hall1.5 km
- Eltham Community and Reception Centre1.8 km
Places within about 3 km, from OpenStreetMap contributors — distances as the crow flies. Something missing or moved? Tell us.
Get to know Eltham
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 Eltham's median of $1,250,000, VIC's first home buyer concession has phased out — duty is about $68,750.
Learn more →Nearby suburbs in Victoria
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Rent data for Eltham 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.