Suburb Overview
Aspendale Gardens is an outer-metropolitan suburb of Melbourne, Australia, with a population of approximately 6,427, making it a smaller community. Located approximately 27 km from the Melbourne CBD, Aspendale Gardens is a outer metro area in Victoria. The median household income is $114,920 per year.
Location
Key Indicators
Postcode
3195
Postcode for Aspendale Gardens, from a community postcode dataset cross-checked against Australia Post. A postcode may cover multiple suburbs.
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Population
6,427
Usual resident population at the most recent census.
Median weekly rent
$496/wk
Median weekly rent recorded at the 2021 Census — market rents have risen since, so treat this as a dated baseline, not a current figure.
Median household income
$114,920
Annual median household income (before tax) across all households.
Distance to CBD
27 km
Straight-line distance from the suburb centroid to the nearest capital city CBD. Actual driving distance will be longer.
Sale prices & yield
Median house price
$1,237,500
Median house sale price — as at 2025 (preliminary), Valuer-General Victoria (CC BY 4.0).
Housing
Median monthly mortgage
$2,000/mo
Monthly median mortgage repayment for households currently paying off a mortgage.
Home type
82% houses
Proportion of separate houses versus units, townhouses, and other home types. Useful for investors assessing rental demand mix.
Why People Like Living in Aspendale Gardens
- Outer-metro setting about 27 km from Melbourne — more space, quieter streets.
- Several schools in the area (around 2), attractive for families.
- Local parks and reserves (around 3) within easy reach.
- Strong transport links into the city and nearby employment hubs.
- Predominantly separate houses (82%) — suburban lifestyle with more land.
Who Aspendale Gardens Suits
Pros and Cons
Pros
- Rent sits within an affordable share of local incomes, supporting tenant demand.
- Local parks and reserves (around 3) add to liveability.
- Solid transport links into employment hubs.
Cons
- New-estate oversupply risk — many similar homes can compete for the same buyers.
- Traffic can build during peak hours, especially on arterial roads.
Investment Insight
6,427 residents places Aspendale Gardens squarely in the middle of the Victoria suburb size distribution (state median 7,416), with market depth comparable to most VIC localities. Median household income of $114,920/year runs 21% above the Victoria suburb median of $95,160, indicating strong purchasing power and the type of demographic profile that tends to sustain premium property prices through market cycles. At the 2021 Census, median weekly rent of $496 equated to $2,149/month — about 107% of the then-median mortgage repayment of $2,000/month. Both figures have moved substantially since 2021, so treat the ratio as a historical signal that this suburb leaned cash-flow-friendly, and verify against current listings and rates. At 27 km from Melbourne, Aspendale Gardens is an outer-metro location where buyers are typically trading commute time for floor space and a lower entry price.
Investment Tip
This suburb suits long-term investors due to steady population growth and affordable entry prices. Look for established streets close to schools and shops rather than raw new-estate land. At the 2021 Census, local rents consumed roughly 22% of household income — a dated but useful sanity check on tenant affordability.
Aspendale Gardens vs Victoria Median
How Aspendale Gardens stacks up against the median of all Victoria suburbs in our dataset. Positive values mean Aspendale Gardens sits above the state median; negative means below.
| Metric | Aspendale Gardens | VIC median | Δ vs state |
|---|---|---|---|
| Population | 6,427 | 7,416 | -13% |
| Median household income | $114,920/yr | $95,160/yr | +21% |
| Median rent (weekly, 2021 Census) | $496 | $380 | +31% |
| Median mortgage (monthly, 2021 Census) | $2,000 | $1,950 | +3% |
| Distance to CBD | 27 km | 32 km | -16% |
| Separate houses | 82% | 78% | +4pp |
Investor Checklist
Pre-inspection briefing for Aspendale Gardens — every item is derived from public datasets, with full citations in our data sources page.
- Market depth: 6,427 residents — 87% of the VIC suburb median (7,416).
- Purchasing power: median household income $114,920/year (+21% vs Victoria suburb median of $95,160).
- Cash-flow coverage (2021 Census): $496/week rent (≈ $2,149/month) covered ~107% of the $2,000/month median mortgage at the 2021 Census — verify against current rents and rates.
- CBD access: 27 km straight-line from Melbourne (state suburb median 32 km).
- Dwelling mix: 82% separate houses — house-dominant market (vs 78% state median).
- Rate stress-test: budget ~$200/month extra for a 1-percentage-point RBA rate rise on top of the $2,000/month median repayment.
- Tenant rent burden: 22% of the median household income is spent on rent — comfortably affordable.
Investment Strategy
Solid buy-and-hold profile: a population of 6,427 and household income close to the VIC median ($114,920 vs $95,160) give the market enough depth for patient capital growth without the premium entry price of inner suburbs.
Strong rental coverage at the 2021 Census: $496/week (~$2,149/month) covered 107% of the $2,000/month median mortgage, a shortfall of just $0/month. Both rents and repayments have moved since 2021 — verify current figures, though this suburb has historically leaned cash-flow-friendly.
With 82% houses in a 6,427-person market, renovation margins depend on individual street and aspect rather than any suburb-wide story — do comparable-sales analysis before committing capital.
Risk Factors
- Interest-rate sensitivity: the $2,000/month median mortgage in Aspendale Gardens means a 1-percentage-point RBA rate rise could add roughly $200/month to repayments, reducing buyer borrowing capacity and cooling prices.
- Aspendale Gardens is 27 km from the CBD — not close enough to benefit from the inner-ring pricing halo, so growth depends more heavily on local infrastructure decisions and the wider Victoria market cycle.
- Regulatory risk: changes to Australian tax settings (negative gearing, CGT discount, foreign-buyer surcharges, land-tax thresholds) could reshape after-tax returns in Aspendale Gardens regardless of local market conditions.
- Market cycle risk: property markets are cyclical, so stress-test your projections in Aspendale Gardens with a 10–15% price pullback scenario before committing capital — returns to date are not a guarantee of future performance.
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Start your first-home journey →2026 Outlook
Property values in Aspendale Gardens should track the wider Victoria market through 2026, with the $114,920/year median household income (21% above the $95,160 state median) keeping the suburb firmly mid-pack. At the 2021 Census, rental coverage ran at ~107% of the typical mortgage ($2,149/month rent vs $2,000/month repayment), keeping cash flow in positive or near-neutral territory. Verify against current rents and rates. Overall investor sentiment for Aspendale Gardens is constructive heading into the second half of 2026, based on its income, rent and mortgage profile relative to the Victoria median.
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Frequently Asked Questions
Is Aspendale Gardens a good suburb for investment?
Whether Aspendale Gardens suits you depends on your strategy, but the fundamentals are concrete: a population of 6,427, a median household income of $114,920/year and median weekly rent of $496. Weigh those against your goal — cash flow, capital growth, or a value-add renovation — each of which we break down with suburb-specific ABS numbers elsewhere on this page.
What drives property demand in Aspendale Gardens?
The main demand drivers in Aspendale Gardens are an above-state-median household income of $114,920/year, a dwelling mix that is 82% separate houses. Together these shape both owner-occupier and tenant demand.
What is the population of Aspendale Gardens?
Aspendale Gardens has a usual resident population of approximately 6,427, compared with a Victoria suburb median of 7,416 — placing it in the lower half of the state's suburbs by size. Population is the clearest proxy for market depth: more residents mean more transactions and typically a shorter average days-on-market on resale.
How far is Aspendale Gardens from the Melbourne CBD?
Aspendale Gardens sits 27 km straight-line from the Melbourne CBD. This is an outer-metro location; local employment and infrastructure announcements tend to move prices more than CBD connectivity alone.
What is the median rent in Aspendale Gardens?
The most recent census recorded a median weekly rent of $496 in Aspendale Gardens, equating to approximately $25,792/year in gross rental income (state median $380/week). Market rents have typically drifted above the recorded figure — verify against current listings on realestate.com.au and Domain before making an offer.
What is the typical mortgage repayment in Aspendale Gardens?
The median monthly mortgage repayment in Aspendale Gardens is $2,000, or approximately $24,000/year (vs $1,950/month state median). Stress-test your own borrowing at rates 1–2 percentage points above today's to make sure you can still service the loan through an RBA tightening cycle.
Is Aspendale Gardens cash-flow positive for investors?
A median weekly rent of $496 works out to $2,149/month, covering 107% of the median mortgage repayment of $2,000/month. That means rent exceeds the median repayment by roughly $149/month, so on these numbers Aspendale Gardens leans cash-flow-positive before accounting for strata, council rates, insurance and maintenance. Actual cash flow depends on your deposit, loan terms, ownership costs and marginal tax rate — run the full numbers in our rental yield calculator.
What are the main risks of investing in Aspendale Gardens?
The main risks are interest-rate sensitivity on the $2,000 median mortgage, the broader Victoria market cycle. Each of these is covered in the Risk Factors section above with suburb-specific numbers rather than generic warnings.
How we built this Aspendale Gardens profile
The population, postcode, median household income, and dwelling mix on this page are real figures from the ABS 2021 Census (income is the ABS median weekly household income annualised) and Australia Post. Distance to the CBD is calculated from the suburb's ABS centroid. The Census median rent and mortgage repayment are 2021 figures and are clearly labelled as such wherever they appear — they are five years old and have moved substantially since. We do not publish an investment score or school/park counts for this suburb. See our methodology and data sources for exactly what's measured and what's estimated.