Suburb Overview
Nerrina is a regional centre in Victoria, Australia, with a population of approximately 970, making it a boutique locality. Located approximately 99 km from the Melbourne CBD, Nerrina is a regional area in Victoria. The median household income is $125,060 per year.
Location
Key Indicators
Postcode
3350
Postcode for Nerrina, from a community postcode dataset cross-checked against Australia Post. A postcode may cover multiple suburbs.
Australia Post Postcode Finder →
Population
970
Usual resident population at the most recent census.
Median weekly rent
$380/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
$125,060
Annual median household income (before tax) across all households.
Distance to CBD
99 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
$725,000
Median house sale price — as at 2025 (preliminary), Valuer-General Victoria (CC BY 4.0).
Housing
Median monthly mortgage
$1,717/mo
Monthly median mortgage repayment for households currently paying off a mortgage.
Home type
95% houses
Proportion of separate houses versus units, townhouses, and other home types. Useful for investors assessing rental demand mix.
Investment Insight
Nerrina is a smaller community of 970 — about 13% 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 $125,060/year runs 31% 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, median weekly rent of $380 equated to $1,647/month — about 96% of the then-median mortgage repayment of $1,717/month. Both figures have moved substantially since 2021, so treat the ratio as a historical signal that this suburb leaned cash-flow-friendly, and verify against current listings and rates. Nerrina is 99 km from Melbourne, so the local market tracks regional employment and lifestyle drivers more than CBD-driven commuter demand. Separate houses make up 95% of dwellings — 17 percentage points above the Victoria median of 78% — pointing to a family-oriented, land-rich market where value is concentrated in the underlying block.
Nerrina vs Victoria Median
How Nerrina stacks up against the median of all Victoria suburbs in our dataset. Positive values mean Nerrina sits above the state median; negative means below.
| Metric | Nerrina | VIC median | Δ vs state |
|---|---|---|---|
| Population | 970 | 7,416 | -87% |
| Median household income | $125,060/yr | $95,160/yr | +31% |
| Median rent (weekly, 2021 Census) | $380 | $380 | 0% |
| Median mortgage (monthly, 2021 Census) | $1,717 | $1,950 | -12% |
| Distance to CBD | 99 km | 32 km | +209% |
| Separate houses | 95% | 78% | +17pp |
Investor Checklist
Pre-inspection briefing for Nerrina — every item is derived from public datasets, with full citations in our data sources page.
- Market depth: 970 residents — 13% of the VIC suburb median (7,416).
- Purchasing power: median household income $125,060/year (+31% vs Victoria suburb median of $95,160).
- Cash-flow coverage (2021 Census): $380/week rent (≈ $1,647/month) covered ~96% of the $1,717/month median mortgage at the 2021 Census — verify against current rents and rates.
- CBD access: 99 km straight-line from Melbourne (state suburb median 32 km).
- Dwelling mix: 95% separate houses — house-dominant market (vs 78% state median).
- Rate stress-test: budget ~$172/month extra for a 1-percentage-point RBA rate rise on top of the $1,717/month median repayment.
- Tenant rent burden: 16% of the median household income is spent on rent — comfortably affordable.
Investment Strategy
Limited buy-and-hold upside: a small population of 970 means liquidity is thin and capital growth tends to lag the wider Victoria market over full cycles.
Strong rental coverage at the 2021 Census: $380/week (~$1,647/month) covered 96% of the $1,717/month median mortgage, a shortfall of just $70/month. Both rents and repayments have moved since 2021 — verify current figures, though this suburb has historically leaned cash-flow-friendly.
With 95% houses in a 970-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 $1,717/month median mortgage in Nerrina means a 1-percentage-point RBA rate rise could add roughly $172/month to repayments, reducing buyer borrowing capacity and cooling prices.
- Premium-pricing risk: incomes 31% above the Victoria median ($125,060 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 970 residents, Nerrina 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 99 km from the nearest CBD, Nerrina depends on local employment rather than city-driven commuter demand, which amplifies the market's sensitivity to regional industry slowdowns.
- House-dominant stock: 95% 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.
Run the numbers on a Nerrina property
Walk the journey to a place like Nerrina
Seven guided stops — government schemes compared for your exact numbers, a real budget, suburb shortlisting and every contract deadline tracked. Free, no signup to start.
Start your first-home journey →2026 Outlook
Capital-growth expectations for Nerrina are modest for 2026 — incomes 31% above the VIC median of $95,160 and a population of 970 suggest gains will lag headline metro markets. At the 2021 Census, rental coverage ran at ~96% of the typical mortgage ($1,647/month rent vs $1,717/month repayment), keeping cash flow in positive or near-neutral territory. Verify against current rents and rates. Overall investor sentiment for Nerrina is cautious heading into the second half of 2026, based on its income, rent and mortgage profile relative to the Victoria median.
Share your experience of Nerrina
Lived in Nerrina? Help other investors with an honest 100-word review. Sign-in required; all reviews are manually moderated before they appear.
Frequently Asked Questions
Is Nerrina a good suburb for investment?
Whether Nerrina suits you depends on your strategy, but the fundamentals are concrete: a population of 970, a median household income of $125,060/year and median weekly rent of $380. 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 Nerrina?
The main demand drivers in Nerrina are an above-state-median household income of $125,060/year, a dwelling mix that is 95% separate houses. Together these shape both owner-occupier and tenant demand.
What is the population of Nerrina?
Nerrina has a usual resident population of approximately 970, 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 Nerrina from the Melbourne CBD?
Nerrina sits 99 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 Nerrina?
The most recent census recorded a median weekly rent of $380 in Nerrina, equating to approximately $19,760/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 Nerrina?
The median monthly mortgage repayment in Nerrina is $1,717, or approximately $20,604/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 Nerrina cash-flow positive for investors?
A median weekly rent of $380 works out to $1,647/month, covering 96% of the median mortgage repayment of $1,717/month. That leaves a $70/month shortfall (around $840/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 Nerrina?
The main risks are a thin buyer pool (970 residents), interest-rate sensitivity on the $1,717 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 Nerrina 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.