Suburb Overview
Springvale is an outer-metropolitan suburb of Melbourne, Australia, with a population of approximately 22,174, making it a sizeable community. Located approximately 23 km from the Melbourne CBD, Springvale is a outer metro area in Victoria. The median household income is $72,904 per year.
Location
Key Indicators
Postcode
3171
Postcode for Springvale, from a community postcode dataset cross-checked against Australia Post. A postcode may cover multiple suburbs.
Australia Post Postcode Finder →
Population
22,174
Usual resident population at the most recent census.
Median weekly rent
$357/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
$72,904
Annual median household income (before tax) across all households.
Distance to CBD
23 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
$833,000
Median house sale price — as at 2025 (preliminary), Valuer-General Victoria (CC BY 4.0).
Median unit price
$644,500
Median unit sale price — as at 2025 (preliminary), Valuer-General Victoria (CC BY 4.0).
Housing
Median monthly mortgage
$1,750/mo
Monthly median mortgage repayment for households currently paying off a mortgage.
Home type
64% houses
Proportion of separate houses versus units, townhouses, and other home types. Useful for investors assessing rental demand mix.
Why People Like Living in Springvale
- Outer-metro setting about 23 km from Melbourne — more space, quieter streets.
- Plenty of schooling options nearby — around 6 schools within reach.
- Good green-space access with around 9 parks and reserves nearby.
- Strong transport links into the city and nearby employment hubs.
- Newer estates with modern homes and family-sized blocks.
Who Springvale Suits
Pros and Cons
Pros
- Rent sits within an affordable share of local incomes, supporting tenant demand.
- Mortgage costs are lower than the Victoria median, improving cash-flow margins.
- Access to several schools nearby (around 6).
- Local parks and reserves (around 9) add to liveability.
- Solid transport links into employment hubs.
Cons
- Traffic can build during peak hours, especially on arterial roads.
- Prices may rise further as demand continues.
Investment Insight
With 22,174 residents, Springvale is one of Victoria's more populous suburbs — roughly 3.0× 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. Springvale's median household income of $72,904/year is 23% 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 $357/week covered 88% of the $1,750/month median mortgage recorded at the same Census, leaving a gap of roughly $203/month at the time. Rents and repayments have both risen since — re-run the numbers with current figures before drawing conclusions. 23 km from Melbourne places Springvale in the middle commuter belt, close enough for daily trips by car or rail but at a materially lower price point than inner suburbs.
Investment Tip
This suburb suits long-term investors due to steady population growth and affordable entry prices. Look for established streets close to schools and shops rather than raw new-estate land. At the 2021 Census, local rents consumed roughly 25% of household income — a dated but useful sanity check on tenant affordability.
Springvale vs Victoria Median
How Springvale stacks up against the median of all Victoria suburbs in our dataset. Positive values mean Springvale sits above the state median; negative means below.
| Metric | Springvale | VIC median | Δ vs state |
|---|---|---|---|
| Population | 22,174 | 7,416 | +199% |
| Median household income | $72,904/yr | $95,160/yr | -23% |
| Median rent (weekly, 2021 Census) | $357 | $380 | -6% |
| Median mortgage (monthly, 2021 Census) | $1,750 | $1,950 | -10% |
| Distance to CBD | 23 km | 32 km | -28% |
| Separate houses | 64% | 78% | -14pp |
Investor Checklist
Pre-inspection briefing for Springvale — every item is derived from public datasets, with full citations in our data sources page.
- Market depth: 22,174 residents — 299% of the VIC suburb median (7,416).
- Purchasing power: median household income $72,904/year (-23% vs Victoria suburb median of $95,160).
- Cash-flow coverage (2021 Census): $357/week rent (≈ $1,547/month) covered ~88% of the $1,750/month median mortgage at the 2021 Census — verify against current rents and rates.
- CBD access: 23 km straight-line from Melbourne (state suburb median 32 km).
- Dwelling mix: 64% separate houses — mixed market (vs 78% state median).
- Rate stress-test: budget ~$175/month extra for a 1-percentage-point RBA rate rise on top of the $1,750/month median repayment.
- Tenant rent burden: 25% of the median household income is spent on rent — within normal range.
Investment Strategy
Limited buy-and-hold upside: household incomes 23% below the VIC median ($72,904 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: $357/week (~$1,547/month) covered 88% of the $1,750/month median mortgage, a shortfall of just $203/month. Both rents and repayments have moved since 2021 — verify current figures, though this suburb has historically leaned cash-flow-friendly.
Only 64% of dwellings are separate houses (vs 78% VIC median) — this is a unit and townhouse market, where cosmetic flips struggle against body-corporate restrictions, thinner after-reno uplift and competing new supply.
Risk Factors
- Interest-rate sensitivity: the $1,750/month median mortgage in Springvale means a 1-percentage-point RBA rate rise could add roughly $175/month to repayments, reducing buyer borrowing capacity and cooling prices.
- Income vulnerability: household incomes in Springvale are 23% below the Victoria median ($72,904 vs $95,160), which tends to compress rent growth and increases exposure to local unemployment shocks.
- Springvale is 23 km from the CBD — not close enough to benefit from the inner-ring pricing halo, so growth depends more heavily on local infrastructure decisions and the wider Victoria market cycle.
- Regulatory risk: changes to Australian tax settings (negative gearing, CGT discount, foreign-buyer surcharges, land-tax thresholds) could reshape after-tax returns in Springvale regardless of local market conditions.
- Market cycle risk: property markets are cyclical, so stress-test your projections in Springvale 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 Springvale are modest for 2026 — incomes 23% below the VIC median of $95,160 suggest gains will lag headline metro markets. At the 2021 Census, rental coverage ran at ~88% of the typical mortgage ($1,547/month rent vs $1,750/month repayment), keeping cash flow in positive or near-neutral territory. Verify against current rents and rates. Overall investor sentiment for Springvale 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 Springvale a good suburb for investment?
Whether Springvale suits you depends on your strategy, but the fundamentals are concrete: a population of 22,174, a median household income of $72,904/year and median weekly rent of $357. 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 Springvale?
The main demand drivers in Springvale are proximity to Melbourne (23 km), a median household income of $72,904/year, a dwelling mix that is 64% separate houses. Together these shape both owner-occupier and tenant demand.
What is the population of Springvale?
Springvale has a usual resident population of approximately 22,174, 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 Springvale from the Melbourne CBD?
Springvale sits 23 km straight-line from the Melbourne CBD. This is comfortable commuter territory, with reasonable rail and road access to the city.
What is the median rent in Springvale?
The most recent census recorded a median weekly rent of $357 in Springvale, equating to approximately $18,564/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 Springvale?
The median monthly mortgage repayment in Springvale is $1,750, or approximately $21,000/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 Springvale cash-flow positive for investors?
A median weekly rent of $357 works out to $1,547/month, covering 88% of the median mortgage repayment of $1,750/month. That leaves a $203/month shortfall (around $2,436/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 Springvale?
The main risks are interest-rate sensitivity on the $1,750 median mortgage, below-median household incomes ($72,904 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 Springvale 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.