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Suburb Insights ยท VIC 3197

Carrum 3197, Victoria

ABS 2021 Census ยท Updated 31 March 2026

Suburb Overview

Carrum is an outer-metropolitan suburb of Melbourne, Australia, with a population of approximately 4,239, making it a boutique locality. Located approximately 33 km from the Melbourne CBD, Carrum is a outer metro area in Victoria. The median household income is $90,064 AUD per year (ABS 2021 Census).

Investment Score

62 / 100 Good

Strong household incomes in Carrum underpin solid property demand. The outer location offers affordability but may see slower price appreciation.

Location

Map shows Carrum, Victoria, Australia.

Key Indicators

Postcode
3197

Official Australia Post postcode for Carrum. A postcode may cover multiple suburbs.

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Population
4,239

Usual resident population at census night. Source: ABS 2021 Census of Population and Housing.

ABS Census Data โ†’
Median Rent (weekly)
$406/wk

Weekly median rent for occupied private dwellings. Source: ABS 2021 Census. Live rental data integration coming soon.

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Median Household Income
$90,064/yr

Annual median household income (before tax) for all households. Source: ABS 2021 Census.

ABS Census Data โ†’
Distance to CBD
33 km

Straight-line distance from the suburb centroid (ABS 2021 SAL geography) to the nearest capital city CBD. Actual driving distance will be longer.

Lifestyle & Amenities

Schools nearby
1

Estimated 1 school within or near this suburb based on ABS 2021 data.

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Parks & green spaces
2

Estimated 2 parks and green spaces near this suburb. Source: ABS 2021 data.

Median Mortgage (monthly)
$2,069/mo

Monthly median mortgage repayment for households currently paying off a mortgage. Source: ABS 2021 Census.

ABS Census Data โ†’
Dwelling Type
41% houses

Proportion of separate houses vs units, townhouses, and other dwelling types. Source: ABS 2021 Census. Relevant for investors assessing rental demand mix.

ABS Census Data โ†’

Investment Insight

Carrum's outer-metropolitan position means more affordable entry points for investors, with potential for capital growth as infrastructure extends outward. Demand is often driven by young families seeking space and value. The median rent of $406/week (ABS 2021) indicates a mid-range rental market. Owner-occupiers face a median mortgage repayment of $2,069/month. The median household income of $90,064/year reflects a solid demographic, supporting sustainable rental demand.

Investment Strategy

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Buy & Hold

A buy-and-hold approach in Carrum could work well with careful property selection and a longer time horizon.

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Rental Yield

Carrum can deliver reasonable rental income, though yields are not the primary draw.

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Renovation / Flip

Renovation or flip strategies in Carrum face headwinds from a smaller buyer pool and slower turnover.

Risk Factors

Run the numbers on a Carrum property

Full Property Analysis

30-year projections for Carrum

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2026 Outlook

Growth: Moderate Rental Demand: Moderate Investor Sentiment: Moderate

Carrum is expected to see moderate price growth in 2026 as the broader Victoria market stabilises. Rental demand is expected to be stable, though landlords may need to remain competitive on pricing. The market mood around Carrum is balanced โ€” neither bullish nor bearish heading into 2026.

Frequently Asked Questions

Is Carrum a good suburb for investment?

Carrum is a outer metro area in Victoria with a population of 4,239. The median rent is $406/week and the median household income is $90,064/year (ABS 2021 Census). As with any property investment, conduct thorough due diligence on current listings, vacancy rates, and local infrastructure plans before committing.

What drives property demand in Carrum?

Key demand drivers in Carrum include affordability relative to inner suburbs and expanding infrastructure. 41% of dwellings are separate houses. The area has approximately 1 schools and 2 parks nearby.

What is the population of Carrum?

According to the ABS 2021 Census, Carrum has a population of approximately 4,239. For historical population trends and intercensal estimates, visit the ABS Census Data Explorer at abs.gov.au.

How far is Carrum from the Melbourne CBD?

Carrum is approximately 33 km straight-line distance from the Melbourne CBD (calculated from ABS 2021 suburb centroid coordinates). Road travel times will vary; check current mapping services for up-to-date routes.

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