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ABS 2021 Census · Updated 21 May 2026
Ocean Grove is a coastal suburb in Victoria, Australia, with a population of approximately 17,714, making it a smaller community. Located approximately 62 km from the Melbourne CBD, Ocean Grove is a coastal area in Victoria. The median household income is $95,524 per year.
Strong household incomes in Ocean Grove underpin solid property demand. Coastal lifestyle appeal adds a premium that supports long-term demand.
Official Australia Post postcode for Ocean Grove. 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 4 schools within or near this suburb.
Find schools near Ocean Grove on My School →Estimated 7 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 17,714 residents, Ocean Grove is one of Victoria's more populous suburbs — roughly 2.4× 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. At $95,524/year, household income in Ocean Grove is within 0% of the Victoria median ($95,160), placing the suburb firmly in the state's mainstream demographic band. Median weekly rent of $420 equates to $1,820/month — about 91% of the median mortgage repayment of $2,000/month — meaning rental income covers most of a typical owner's repayment and this is a genuine cash-flow suburb before tax benefits. Ocean Grove is 62 km from Melbourne, so the local market tracks regional employment and lifestyle drivers more than CBD-driven commuter demand.
This suburb can suit investors targeting renter demand driven by lifestyle. Insurance, climate risk, and seasonal rental patterns all warrant a close look. Local rents consume roughly 23% of household income — a useful sanity check on tenant affordability.
How Ocean Grove stacks up against the median of all Victoria suburbs in our dataset. Positive values mean Ocean Grove sits above the state median; negative means below.
| Metric | Ocean Grove | VIC median | Δ vs state |
|---|---|---|---|
| Population | 17,714 | 7,416 | +139% |
| Median household income | $95,524/yr | $95,160/yr | 0% |
| Median rent (weekly) | $420 | $380 | +11% |
| Median mortgage (monthly) | $2,000 | $1,950 | +3% |
| Distance to CBD | 62 km | 32 km | +94% |
| Separate houses | 74% | 78% | -4pp |
Pre-inspection briefing for Ocean Grove — every item is derived from public datasets, with full citations in our data sources page.
Solid buy-and-hold profile: a population of 17,714 and household income close to the VIC median ($95,524 vs $95,160) give the market enough depth for patient capital growth without the premium entry price of inner suburbs.
Strong rental coverage: $420/week (~$1,820/month) covers 91% of the $2,000/month median mortgage repayment, so the shortfall sits at just $180/month. Investors targeting positive cash flow should shortlist this suburb.
With 74% houses in a 17,714-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 Ocean Grove property
Scenario comparison, cash flow analysis, tax modelling, and PDF export — all in one place.
Create free account →Property values in Ocean Grove should track the wider Victoria market through 2026, with the $95,524/year median household income (close to the $95,160 state median) keeping the suburb firmly mid-pack. Rental coverage runs at ~91% of the typical mortgage ($1,820/month rent vs $2,000/month repayment), keeping cash flow in positive or near-neutral territory. The EquitySight investment score of 60/100 places Ocean Grove in the mid tier of Australian suburbs we profile, and overall investor sentiment is balanced heading into the second half of 2026.
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Ocean Grove scores 60/100 on our EquitySight investment framework — a moderate rating. That score is driven by a population of 17,714, median household income of $95,524/year and median weekly rent of $420. 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 Ocean Grove are an above-state-median household income of $95,524/year, a dwelling mix that is 74% separate houses, roughly 4 schools and 7 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.
Ocean Grove has a usual resident population of approximately 17,714, 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.
Ocean Grove sits 62 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.
The most recent census recorded a median weekly rent of $420 in Ocean Grove, equating to approximately $21,840/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 Ocean Grove 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.
A median weekly rent of $420 works out to $1,820/month, covering 91% of the median mortgage repayment of $2,000/month. That leaves a $180/month shortfall (around $2,160/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 $2,000 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.