Suburb Overview
Mornington is a coastal suburb in Victoria, Australia, with a population of approximately 25,759, making it a sizeable community. Located approximately 47 km from the Melbourne CBD, Mornington is a coastal area in Victoria. The median household income is $75,452 per year.
Location
Key Indicators
Postcode
3931
Postcode for Mornington, from a community postcode dataset cross-checked against Australia Post. A postcode may cover multiple suburbs.
Australia Post Postcode Finder →
Population
25,759
Usual resident population at the most recent census.
Median weekly rent
$400/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
$75,452
Annual median household income (before tax) across all households.
Distance to CBD
47 km
Straight-line distance from the suburb centroid to the nearest capital city CBD. Actual driving distance will be longer.
Sale prices & yield
Median unit price
$652,000
Median unit sale price — as at 2025 (preliminary), Valuer-General Victoria (CC BY 4.0).
Housing
Median monthly mortgage
$2,000/mo
Monthly median mortgage repayment for households currently paying off a mortgage.
Home type
70% houses
Proportion of separate houses versus units, townhouses, and other home types. Useful for investors assessing rental demand mix.
Why People Like Living in Mornington
- Regional location about 47 km from Melbourne.
- Plenty of schooling options nearby — around 6 schools within reach.
- Good green-space access with around 10 parks and reserves nearby.
- Well-serviced by public transport and major roads.
- Beach lifestyle with coastal walks and outdoor recreation on the doorstep.
Who Mornington Suits
Pros and Cons
Pros
- Rent sits within an affordable share of local incomes, supporting tenant demand.
- Access to several schools nearby (around 6).
- Local parks and reserves (around 10) add to liveability.
- Solid transport links into employment hubs.
Cons
- Long distance to the CBD (47 km) — plan for commute time or local employment.
- Traffic can build during peak hours, especially on arterial roads.
Investment Insight
With 25,759 residents, Mornington is one of Victoria's more populous suburbs — roughly 3.5× 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. Mornington's median household income of $75,452/year is 21% below the Victoria suburb median ($95,160) — this is an affordability play where returns lean on yield and patient capital growth rather than demographic premium. At the 2021 Census, rent of $400/week covered 87% of the $2,000/month median mortgage recorded at the same Census, leaving a gap of roughly $267/month at the time. Rents and repayments have both risen since — re-run the numbers with current figures before drawing conclusions. At 47 km from Melbourne, Mornington is an outer-metro location where buyers are typically trading commute time for floor space and a lower entry price.
Investment Tip
This suburb can suit investors targeting renter demand driven by lifestyle. Insurance, climate risk, and seasonal rental patterns all warrant a close look. At the 2021 Census, local rents consumed roughly 28% of household income — a dated but useful sanity check on tenant affordability.
Mornington vs Victoria Median
How Mornington stacks up against the median of all Victoria suburbs in our dataset. Positive values mean Mornington sits above the state median; negative means below.
| Metric | Mornington | VIC median | Δ vs state |
|---|---|---|---|
| Population | 25,759 | 7,416 | +247% |
| Median household income | $75,452/yr | $95,160/yr | -21% |
| Median rent (weekly, 2021 Census) | $400 | $380 | +5% |
| Median mortgage (monthly, 2021 Census) | $2,000 | $1,950 | +3% |
| Distance to CBD | 47 km | 32 km | +47% |
| Separate houses | 70% | 78% | -8pp |
Investor Checklist
Pre-inspection briefing for Mornington — every item is derived from public datasets, with full citations in our data sources page.
- Market depth: 25,759 residents — 347% of the VIC suburb median (7,416).
- Purchasing power: median household income $75,452/year (-21% vs Victoria suburb median of $95,160).
- Cash-flow coverage (2021 Census): $400/week rent (≈ $1,733/month) covered ~87% of the $2,000/month median mortgage at the 2021 Census — verify against current rents and rates.
- CBD access: 47 km straight-line from Melbourne (state suburb median 32 km).
- Dwelling mix: 70% separate houses — house-dominant market (vs 78% state median).
- Rate stress-test: budget ~$200/month extra for a 1-percentage-point RBA rate rise on top of the $2,000/month median repayment.
- Tenant rent burden: 28% of the median household income is spent on rent — within normal range.
Investment Strategy
Limited buy-and-hold upside: household incomes 21% below the VIC median ($75,452 vs $95,160) means liquidity is thin and capital growth tends to lag the wider Victoria market over full cycles.
Strong rental coverage at the 2021 Census: $400/week (~$1,733/month) covered 87% of the $2,000/month median mortgage, a shortfall of just $267/month. Both rents and repayments have moved since 2021 — verify current figures, though this suburb has historically leaned cash-flow-friendly.
With 70% houses in a 25,759-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 $2,000/month median mortgage in Mornington means a 1-percentage-point RBA rate rise could add roughly $200/month to repayments, reducing buyer borrowing capacity and cooling prices.
- Income vulnerability: household incomes in Mornington are 21% below the Victoria median ($75,452 vs $95,160), which tends to compress rent growth and increases exposure to local unemployment shocks.
- Commute distance: at 47 km from the nearest CBD, Mornington 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 Mornington regardless of local market conditions.
- Market cycle risk: property markets are cyclical, so stress-test your projections in Mornington with a 10–15% price pullback scenario before committing capital — returns to date are not a guarantee of future performance.
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Start your first-home journey →2026 Outlook
Capital-growth expectations for Mornington are modest for 2026 — incomes 21% below the VIC median of $95,160 suggest gains will lag headline metro markets. At the 2021 Census, rental coverage ran at ~87% of the typical mortgage ($1,733/month rent vs $2,000/month repayment), keeping cash flow in positive or near-neutral territory. Verify against current rents and rates. Overall investor sentiment for Mornington 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 Mornington a good suburb for investment?
Whether Mornington suits you depends on your strategy, but the fundamentals are concrete: a population of 25,759, a median household income of $75,452/year and median weekly rent of $400. 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 Mornington?
The main demand drivers in Mornington are a median household income of $75,452/year, a dwelling mix that is 70% separate houses. Together these shape both owner-occupier and tenant demand.
What is the population of Mornington?
Mornington has a usual resident population of approximately 25,759, 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.
How far is Mornington from the Melbourne CBD?
Mornington sits 47 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 Mornington?
The most recent census recorded a median weekly rent of $400 in Mornington, equating to approximately $20,800/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 Mornington?
The median monthly mortgage repayment in Mornington is $2,000, or approximately $24,000/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.
Is Mornington cash-flow positive for investors?
A median weekly rent of $400 works out to $1,733/month, covering 87% of the median mortgage repayment of $2,000/month. That leaves a $267/month shortfall (around $3,204/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 Mornington?
The main risks are interest-rate sensitivity on the $2,000 median mortgage, below-median household incomes ($75,452 vs $95,160 state median), 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 Mornington 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.