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ABS 2021 Census · Updated 21 May 2026
Glen Waverley is a well-established middle-ring suburb of Melbourne, Australia, with a population of approximately 42,642, making it a sizeable community. Located approximately 20 km from the Melbourne CBD, Glen Waverley is a middle ring area in Victoria. The median household income is $99,736 per year.
Strong household incomes in Glen Waverley underpin solid property demand.
Official Australia Post postcode for Glen Waverley. 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 11 schools within or near this suburb.
Find schools near Glen Waverley on My School →Estimated 17 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.
With 42,642 residents, Glen Waverley is one of Victoria's more populous suburbs — roughly 5.8× the state median of 7,416 — giving it a deep buyer and tenant pool that typically supports higher transaction volumes and shorter average days on market. Households here earn $99,736/year on average — 5% above the VIC suburb median of $95,160 — a modest premium that supports resilient owner-occupier demand. Rent of $480/week (83% coverage of the $2,500/month median mortgage) leaves a gap of roughly $420/month that a typical investor bridges with negative gearing, depreciation and capital growth. 20 km from Melbourne places Glen Waverley in the middle commuter belt, close enough for daily trips by car or rail but at a materially lower price point than inner suburbs.
This suburb suits long-term investors looking for a balance of rental yield and capital growth. Schools and transport underpin family demand. Local rents consume roughly 25% of household income — a useful sanity check on tenant affordability.
How Glen Waverley stacks up against the median of all Victoria suburbs in our dataset. Positive values mean Glen Waverley sits above the state median; negative means below.
| Metric | Glen Waverley | VIC median | Δ vs state |
|---|---|---|---|
| Population | 42,642 | 7,416 | +475% |
| Median household income | $99,736/yr | $95,160/yr | +5% |
| Median rent (weekly) | $480 | $380 | +26% |
| Median mortgage (monthly) | $2,500 | $1,950 | +28% |
| Distance to CBD | 20 km | 32 km | -37% |
| Separate houses | 71% | 78% | -7pp |
Pre-inspection briefing for Glen Waverley — every item is derived from public datasets, with full citations in our data sources page.
Solid buy-and-hold profile: a population of 42,642 and household income close to the VIC median ($99,736 vs $95,160) give the market enough depth for patient capital growth without the premium entry price of inner suburbs.
Moderate rental coverage: rent of $480/week covers 83% of a $2,500/month mortgage, leaving a $420/month gap that an investor bridges with equity, depreciation and tax benefits.
With 71% houses in a 42,642-person market, renovation margins depend on individual street and aspect rather than any suburb-wide story — do comparable-sales analysis before committing capital.
Run the numbers on a Glen Waverley property
Scenario comparison, cash flow analysis, tax modelling, and PDF export — all in one place.
Create free account →Property values in Glen Waverley should track the wider Victoria market through 2026, with the $99,736/year median household income (5% above the $95,160 state median) keeping the suburb firmly mid-pack. Rental coverage runs at ~83% of the typical mortgage ($2,080/month rent vs $2,500/month repayment), keeping cash flow in positive or near-neutral territory. The EquitySight investment score of 77/100 places Glen Waverley 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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Glen Waverley scores 77/100 on our EquitySight investment framework — a good rating. That score is driven by a population of 42,642, median household income of $99,736/year and median weekly rent of $480. 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 Glen Waverley are proximity to Melbourne (20 km), an above-state-median household income of $99,736/year, a dwelling mix that is 71% separate houses, roughly 11 schools and 17 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.
Glen Waverley has a usual resident population of approximately 42,642, 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.
Glen Waverley sits 20 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 $480 in Glen Waverley, equating to approximately $24,960/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 Glen Waverley is $2,500, or approximately $30,000/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.
A median weekly rent of $480 works out to $2,080/month, covering 83% of the median mortgage repayment of $2,500/month. That leaves a $420/month shortfall (around $5,040/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 $2,500 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.