Suburb Overview
Cobblebank is a regional centre in Victoria, Australia, with a population of approximately 3,601, making it a boutique locality. Located approximately 34 km from the Melbourne CBD, Cobblebank is a regional area in Victoria. The median household income is $99,840 per year.
Location
Key Indicators
Postcode
3338
Postcode for Cobblebank, from a community postcode dataset cross-checked against Australia Post. A postcode may cover multiple suburbs.
Australia Post Postcode Finder →
Population
3,601
Usual resident population at the most recent census.
Median weekly rent
$370/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
$99,840
Annual median household income (before tax) across all households.
Distance to CBD
34 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
$605,000
Median house sale price — as at 2025 (preliminary), Valuer-General Victoria (CC BY 4.0).
Housing
Median monthly mortgage
$1,850/mo
Monthly median mortgage repayment for households currently paying off a mortgage.
Home type
94% houses
Proportion of separate houses versus units, townhouses, and other home types. Useful for investors assessing rental demand mix.
Why People Like Living in Cobblebank
- Outer-metro setting about 34 km from Melbourne — more space, quieter streets.
- Strong transport links into the city and nearby employment hubs.
- Predominantly separate houses (94%) — suburban lifestyle with more land.
- Country-town feel with lower density and slower pace of life.
Who Cobblebank Suits
Pros and Cons
Pros
- Rent sits within an affordable share of local incomes, supporting tenant demand.
- Mortgage costs are lower than the Victoria median, improving cash-flow margins.
- Solid transport links into employment hubs.
Cons
- Long distance to the CBD (34 km) — plan for commute time or local employment.
- Fewer schools inside the suburb itself — verify catchments for neighbouring areas.
Investment Insight
Cobblebank is a smaller community of 3,601 — about 49% of the Victoria suburb median (7,416) — so investors should factor in the narrower buyer pool and longer average time-on-market. Households here earn $99,840/year on average — 5% above the VIC suburb median of $95,160 — a modest premium that supports resilient owner-occupier demand. At the 2021 Census, rent of $370/week covered 87% of the $1,850/month median mortgage recorded at the same Census, leaving a gap of roughly $247/month at the time. Rents and repayments have both risen since — re-run the numbers with current figures before drawing conclusions. At 34 km from Melbourne, Cobblebank is an outer-metro location where buyers are typically trading commute time for floor space and a lower entry price. Separate houses make up 94% of dwellings — 16 percentage points above the Victoria median of 78% — pointing to a family-oriented, land-rich market where value is concentrated in the underlying block.
Investment Tip
This suburb suits yield-focused investors who are comfortable with lower liquidity. Employment concentration and local population trends matter more here than in metro markets. At the 2021 Census, local rents consumed roughly 19% of household income — a dated but useful sanity check on tenant affordability.
Cobblebank vs Victoria Median
How Cobblebank stacks up against the median of all Victoria suburbs in our dataset. Positive values mean Cobblebank sits above the state median; negative means below.
| Metric | Cobblebank | VIC median | Δ vs state |
|---|---|---|---|
| Population | 3,601 | 7,416 | -51% |
| Median household income | $99,840/yr | $95,160/yr | +5% |
| Median rent (weekly, 2021 Census) | $370 | $380 | -3% |
| Median mortgage (monthly, 2021 Census) | $1,850 | $1,950 | -5% |
| Distance to CBD | 34 km | 32 km | +6% |
| Separate houses | 94% | 78% | +16pp |
Investor Checklist
Pre-inspection briefing for Cobblebank — every item is derived from public datasets, with full citations in our data sources page.
- Market depth: 3,601 residents — 49% of the VIC suburb median (7,416).
- Purchasing power: median household income $99,840/year (+5% vs Victoria suburb median of $95,160).
- Cash-flow coverage (2021 Census): $370/week rent (≈ $1,603/month) covered ~87% of the $1,850/month median mortgage at the 2021 Census — verify against current rents and rates.
- CBD access: 34 km straight-line from Melbourne (state suburb median 32 km).
- Dwelling mix: 94% separate houses — house-dominant market (vs 78% state median).
- Rate stress-test: budget ~$185/month extra for a 1-percentage-point RBA rate rise on top of the $1,850/month median repayment.
- Tenant rent burden: 19% of the median household income is spent on rent — comfortably affordable.
Investment Strategy
Moderate buy-and-hold potential: Cobblebank's 3,601-person market and $99,840 median household income work for investors who are selective on street location and property quality rather than counting on a suburb-wide rerating.
Strong rental coverage at the 2021 Census: $370/week (~$1,603/month) covered 87% of the $1,850/month median mortgage, a shortfall of just $247/month. Both rents and repayments have moved since 2021 — verify current figures, though this suburb has historically leaned cash-flow-friendly.
With 94% houses in a 3,601-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 $1,850/month median mortgage in Cobblebank means a 1-percentage-point RBA rate rise could add roughly $185/month to repayments, reducing buyer borrowing capacity and cooling prices.
- Liquidity risk: with 3,601 residents, Cobblebank has a thinner pool of buyers and tenants than larger suburbs. Expect longer days-on-market on resale and budget for potential vacancy gaps between tenancies.
- Cobblebank is 34 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.
- House-dominant stock: 94% of dwellings are separate houses, so value is concentrated in land — weather events, insurance repricing and land-tax changes hit investors here more directly than in a unit-heavy suburb.
- Regulatory risk: changes to Australian tax settings (negative gearing, CGT discount, foreign-buyer surcharges, land-tax thresholds) could reshape after-tax returns in Cobblebank regardless of local market conditions.
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Start your first-home journey →2026 Outlook
Capital-growth expectations for Cobblebank are modest for 2026 — incomes 5% above the VIC median of $95,160 and a population of 3,601 suggest gains will lag headline metro markets. At the 2021 Census, rental coverage ran at ~87% of the typical mortgage ($1,603/month rent vs $1,850/month repayment), keeping cash flow in positive or near-neutral territory. Verify against current rents and rates. Overall investor sentiment for Cobblebank is balanced 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 Cobblebank a good suburb for investment?
Whether Cobblebank suits you depends on your strategy, but the fundamentals are concrete: a population of 3,601, a median household income of $99,840/year and median weekly rent of $370. 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 Cobblebank?
The main demand drivers in Cobblebank are an above-state-median household income of $99,840/year, a dwelling mix that is 94% separate houses. Together these shape both owner-occupier and tenant demand.
What is the population of Cobblebank?
Cobblebank has a usual resident population of approximately 3,601, 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 Cobblebank from the Melbourne CBD?
Cobblebank sits 34 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 Cobblebank?
The most recent census recorded a median weekly rent of $370 in Cobblebank, equating to approximately $19,240/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 Cobblebank?
The median monthly mortgage repayment in Cobblebank is $1,850, or approximately $22,200/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 Cobblebank cash-flow positive for investors?
A median weekly rent of $370 works out to $1,603/month, covering 87% of the median mortgage repayment of $1,850/month. That leaves a $247/month shortfall (around $2,964/year before tax benefits), so a typical owner-occupier-priced property here is negatively geared. 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 Cobblebank?
The main risks are a thin buyer pool (3,601 residents), interest-rate sensitivity on the $1,850 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 Cobblebank 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.