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ABS 2021 Census · Updated 21 May 2026
Diamond Creek is a well-established middle-ring suburb of Melbourne, Australia, with a population of approximately 12,503, making it a smaller community. Located approximately 24 km from the Melbourne CBD, Diamond Creek is a middle ring area in Victoria. The median household income is $130,416 per year.
Strong household incomes in Diamond Creek underpin solid property demand.
Official Australia Post postcode for Diamond Creek. A postcode may cover multiple suburbs.
Australia Post Postcode Finder →Usual resident population at the most recent census.
Weekly median rent for occupied homes. Live rental data integration coming soon.
Annual median household income (before tax) across all households.
Straight-line distance from the suburb centroid to the nearest capital city CBD. Actual driving distance will be longer.
Estimated 3 schools within or near this suburb.
Find schools near Diamond Creek on My School →Estimated 5 parks and green spaces near this suburb.
Monthly median mortgage repayment for households currently paying off a mortgage.
Proportion of separate houses versus units, townhouses, and other home types. Useful for investors assessing rental demand mix.
Diamond Creek's population of 12,503 sits 69% above the Victoria suburb median of 7,416, giving it a wider tenant and buyer catchment than the average VIC locality. Median household income of $130,416/year runs 37% 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. Rent of $430/week (86% coverage of the $2,167/month median mortgage) leaves a gap of roughly $304/month that a typical investor bridges with negative gearing, depreciation and capital growth. 24 km from Melbourne places Diamond Creek in the middle commuter belt, close enough for daily trips by car or rail but at a materially lower price point than inner suburbs.
Middle-ring locations like this one historically reward patient holders — focus on homes near catchment-zone schools and major transport. Local rents consume roughly 17% of household income — a useful sanity check on tenant affordability.
How Diamond Creek stacks up against the median of all Victoria suburbs in our dataset. Positive values mean Diamond Creek sits above the state median; negative means below.
| Metric | Diamond Creek | VIC median | Δ vs state |
|---|---|---|---|
| Population | 12,503 | 7,416 | +69% |
| Median household income | $130,416/yr | $95,160/yr | +37% |
| Median rent (weekly) | $430 | $380 | +13% |
| Median mortgage (monthly) | $2,167 | $1,950 | +11% |
| Distance to CBD | 24 km | 32 km | -25% |
| Separate houses | 91% | 78% | +13pp |
Pre-inspection briefing for Diamond Creek — every item is derived from public datasets, with full citations in our data sources page.
Strong buy-and-hold fundamentals: household incomes run 37% above the Victoria suburb median ($130,416 vs $95,160), and the 24 km CBD distance keeps this suburb in the primary demand zone. In Victoria, suburbs with this profile have historically clustered in the upper tercile of 10-year capital growth.
Strong rental coverage: $430/week (~$1,863/month) covers 86% of the $2,167/month median mortgage repayment, so the shortfall sits at just $304/month. Investors targeting positive cash flow should shortlist this suburb.
A dwelling mix skewed to houses (91% vs 78% VIC median) combined with a population of 12,503 creates a deeper market for value-add renovations — older stock, separate titles and stronger buyer competition are the usual pattern here.
Run the numbers on a Diamond Creek property
Scenario comparison, cash flow analysis, tax modelling, and PDF export — all in one place.
Create free account →Diamond Creek enters 2026 with a demographic tailwind — household incomes 37% above the Victoria suburb median of $95,160 and a population of 12,503 give it the depth and purchasing power to outperform the wider VIC market over the next 12–18 months. Rental coverage runs at ~86% of the typical mortgage ($1,863/month rent vs $2,167/month repayment), keeping cash flow in positive or near-neutral territory. The EquitySight investment score of 76/100 places Diamond Creek in the upper-middle tier of Australian suburbs we profile, and overall investor sentiment is constructive heading into the second half of 2026.
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Diamond Creek scores 76/100 on our EquitySight investment framework — a good rating. That score is driven by a population of 12,503, median household income of $130,416/year and median weekly rent of $430. Whether it fits your portfolio depends on whether you are targeting cash flow, capital growth, or a value-add renovation — all three are scored with suburb-specific numbers elsewhere on this page.
The main demand drivers in Diamond Creek are proximity to Melbourne (24 km), an above-state-median household income of $130,416/year, a dwelling mix that is 91% separate houses, roughly 3 schools and 5 parks within the catchment. Together these shape both owner-occupier and tenant demand and are the factors we weight most heavily in the suburb's investment score.
Diamond Creek has a usual resident population of approximately 12,503, compared with a Victoria suburb median of 7,416 — placing it in the upper 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.
Diamond Creek sits 24 km straight-line from the Melbourne CBD. This is comfortable commuter territory, with reasonable rail and road access to the city.
The most recent census recorded a median weekly rent of $430 in Diamond Creek, equating to approximately $22,360/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.
The median monthly mortgage repayment in Diamond Creek is $2,167, or approximately $26,004/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.
A median weekly rent of $430 works out to $1,863/month, covering 86% of the median mortgage repayment of $2,167/month. That leaves a $304/month shortfall (around $3,648/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.
The main risks are interest-rate sensitivity on the $2,167 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.
Every number on this page comes from the ABS 2021 Census of Population and Housing, Australia Post postcode reference data, and OpenStreetMap amenity tiles. The investment score, strategy verdicts, and comparison table are computed deterministically from those inputs — no opinion, no estimation. See our full methodology and the data sources and licences for the formulas we use.