ABS 2021 Census · Updated 31 March 2026
Prahran is an outer-metropolitan suburb of Melbourne, Australia, with a population of approximately 12,203, making it a smaller community. Located 5 km from the Melbourne CBD, Prahran is a outer metro area in Victoria. The median household income is $110,292 AUD per year (ABS 2021 Census).
Above-average earnings in Prahran support sustained property values. The short commute to the city centre is a key demand driver.
Map shows Prahran, Victoria, Australia.
Official Australia Post postcode for Prahran. A postcode may cover multiple suburbs.
Australia Post Postcode Finder →Usual resident population at census night. Source: ABS 2021 Census of Population and Housing.
ABS Census Data →Weekly median rent for occupied private dwellings. Source: ABS 2021 Census. Live rental data integration coming soon.
State Rental Authority →Annual median household income (before tax) for all households. Source: ABS 2021 Census.
ABS Census Data →Straight-line distance from the suburb centroid (ABS 2021 SAL geography) to the nearest capital city CBD. Actual driving distance will be longer.
Estimated 3 schools within or near this suburb based on ABS 2021 data.
Find schools near Prahran on My School →Estimated 5 parks and green spaces near this suburb. Source: ABS 2021 data.
Monthly median mortgage repayment for households currently paying off a mortgage. Source: ABS 2021 Census.
ABS Census Data →Proportion of separate houses vs units, townhouses, and other dwelling types. Source: ABS 2021 Census. Relevant for investors assessing rental demand mix.
ABS Census Data →Prahran's outer-metropolitan position means more affordable entry points for investors, with potential for capital growth as infrastructure extends outward. Demand is often driven by young families seeking space and value. The median rent of $421/week (ABS 2021) indicates a mid-range rental market. Owner-occupiers face a median mortgage repayment of $2,274/month. A median household income of $110,292/year supports premium property values and indicates a well-employed resident base. With only 15% separate houses, Prahran has a significant apartment and unit market — typical of inner-city investment corridors.
Prahran offers moderate buy-and-hold potential — look for properties with value-add opportunities.
Expect competitive but not exceptional rental returns in Prahran's current market.
Prahran's established market and growing population make it a viable location for value-add renovations.
Run the numbers on a Prahran property
Scenario comparison, cash flow analysis, tax modelling, and PDF export — all in one place.
Create free account →Property values in Prahran should hold firm in 2026, with gradual appreciation tied to infrastructure and population trends. The rental market in Prahran should see steady occupancy, with moderate upward pressure on rents. Prahran remains on the radar of active property investors in Victoria.
Prahran is a outer metro area in Victoria with a population of 12,203. The median rent is $421/week and the median household income is $110,292/year (ABS 2021 Census). As with any property investment, conduct thorough due diligence on current listings, vacancy rates, and local infrastructure plans before committing.
Key demand drivers in Prahran include affordability relative to inner suburbs and expanding infrastructure. 15% of dwellings are separate houses. The area has approximately 3 schools and 5 parks nearby.
According to the ABS 2021 Census, Prahran has a population of approximately 12,203. For historical population trends and intercensal estimates, visit the ABS Census Data Explorer at abs.gov.au.
Prahran is approximately 5 km straight-line distance from the Melbourne CBD (calculated from ABS 2021 suburb centroid coordinates). This close proximity means excellent access to employment, dining, and entertainment.