Suburb Overview
Mingay is a regional centre in Victoria, Australia, with a population of approximately 44, making it a boutique locality. Located approximately 144 km from the Melbourne CBD, Mingay is a regional area in Victoria. The median household income is $134,316 per year.
Location
Key Indicators
Postcode
3324
Postcode for Mingay, from a community postcode dataset cross-checked against Australia Post. A postcode may cover multiple suburbs.
Australia Post Postcode Finder →
Population
44
Usual resident population at the most recent census.
Median weekly rent
$200/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
$134,316
Annual median household income (before tax) across all households.
Distance to CBD
144 km
Straight-line distance from the suburb centroid to the nearest capital city CBD. Actual driving distance will be longer.
Housing
Median monthly mortgage
$2,730/mo
Monthly median mortgage repayment for households currently paying off a mortgage.
Home type
80% houses
Proportion of separate houses versus units, townhouses, and other home types. Useful for investors assessing rental demand mix.
Investment Insight
Mingay is a smaller community of 44 — about 1% of the Victoria suburb median (7,416) — so investors should factor in the narrower buyer pool and longer average time-on-market. Median household income of $134,316/year runs 41% 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, weekly rent of $200 covered just 32% of the $2,730/month median mortgage recorded at the same Census, a $1,863/month gap at the time — verify current rents and repayments before pursuing this suburb, and only with a clear capital-growth thesis. Mingay is 144 km from Melbourne, so the local market tracks regional employment and lifestyle drivers more than CBD-driven commuter demand.
Mingay vs Victoria Median
How Mingay stacks up against the median of all Victoria suburbs in our dataset. Positive values mean Mingay sits above the state median; negative means below.
| Metric | Mingay | VIC median | Δ vs state |
|---|---|---|---|
| Population | 44 | 7,416 | -99% |
| Median household income | $134,316/yr | $95,160/yr | +41% |
| Median rent (weekly, 2021 Census) | $200 | $380 | -47% |
| Median mortgage (monthly, 2021 Census) | $2,730 | $1,950 | +40% |
| Distance to CBD | 144 km | 32 km | +350% |
| Separate houses | 80% | 78% | +2pp |
Investor Checklist
Pre-inspection briefing for Mingay — every item is derived from public datasets, with full citations in our data sources page.
- Market depth: 44 residents — 1% of the VIC suburb median (7,416).
- Purchasing power: median household income $134,316/year (+41% vs Victoria suburb median of $95,160).
- Cash-flow coverage (2021 Census): $200/week rent (≈ $867/month) covered ~32% of the $2,730/month median mortgage at the 2021 Census — verify against current rents and rates.
- CBD access: 144 km straight-line from Melbourne (state suburb median 32 km).
- Dwelling mix: 80% separate houses — house-dominant market (vs 78% state median).
- Rate stress-test: budget ~$273/month extra for a 1-percentage-point RBA rate rise on top of the $2,730/month median repayment.
- Tenant rent burden: 8% of the median household income is spent on rent — comfortably affordable.
Investment Strategy
Limited buy-and-hold upside: a small population of 44 means liquidity is thin and capital growth tends to lag the wider Victoria market over full cycles.
Weak cash flow at the 2021 Census: $200/week rent covered only 32% of the $2,730/month median mortgage — a $1,863/month gap funded from other income. On the Census snapshot this reads as a capital-growth play, not a yield play; verify current rents before deciding.
With 80% houses in a 44-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 $2,730/month median mortgage in Mingay means a 1-percentage-point RBA rate rise could add roughly $273/month to repayments, reducing buyer borrowing capacity and cooling prices.
- Premium-pricing risk: incomes 41% above the Victoria median ($134,316 vs $95,160) correlate with elevated purchase prices and compressed gross yields — enter only with a clear capital-growth thesis and a comfortable deposit.
- Liquidity risk: with 44 residents, Mingay 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.
- Commute distance: at 144 km from the nearest CBD, Mingay depends on local employment rather than city-driven commuter demand, which amplifies the market's sensitivity to regional industry slowdowns.
- Regulatory risk: changes to Australian tax settings (negative gearing, CGT discount, foreign-buyer surcharges, land-tax thresholds) could reshape after-tax returns in Mingay regardless of local market conditions.
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Start your first-home journey →2026 Outlook
Capital-growth expectations for Mingay are modest for 2026 — incomes 41% above the VIC median of $95,160 and a population of 44 suggest gains will lag headline metro markets. At the 2021 Census, rental coverage ran at ~32% of the typical mortgage ($867/month rent vs $2,730/month repayment), meaning investors will rely on capital growth rather than yield. Verify against current rents and rates. Overall investor sentiment for Mingay 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 Mingay a good suburb for investment?
Whether Mingay suits you depends on your strategy, but the fundamentals are concrete: a population of 44, a median household income of $134,316/year and median weekly rent of $200. 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 Mingay?
The main demand drivers in Mingay are an above-state-median household income of $134,316/year, a dwelling mix that is 80% separate houses. Together these shape both owner-occupier and tenant demand.
What is the population of Mingay?
Mingay has a usual resident population of approximately 44, 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 Mingay from the Melbourne CBD?
Mingay sits 144 km straight-line from the Melbourne CBD. This is a regional market where CBD distance is only indicative — local industry diversity and commute alternatives matter more.
What is the median rent in Mingay?
The most recent census recorded a median weekly rent of $200 in Mingay, equating to approximately $10,400/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 Mingay?
The median monthly mortgage repayment in Mingay is $2,730, or approximately $32,760/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 Mingay cash-flow positive for investors?
A median weekly rent of $200 works out to $867/month, covering 32% of the median mortgage repayment of $2,730/month. That leaves a $1,863/month shortfall (around $22,356/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 Mingay?
The main risks are a thin buyer pool (44 residents), interest-rate sensitivity on the $2,730 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 Mingay 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.