Elwood
The median rent for a 2-bedroom unit in Elwood is $608 a week for leases that started in the year to September 2025, up 2.2% on a year earlier. That is 11% above the typical 2-bedroom unit rent across Melbourne ($550). The median sale price in the Mar 2026 quarter was $2,230,000 for a house and $672,500 for a unit. A year of rent for that home is about 4.8% of its median sale price (gross rental yield).
Median rent in Elwood
| Home | Rent a week | Change over a year | New leases |
|---|---|---|---|
| 1-bedroom unit | $450 | +4.7% | 331 |
| 2-bedroom unit | $608 | +2.2% | 610 |
| 3-bedroom unit | $875 | -2.6% | 89 |
| 2-bedroom house | $795 | +6.0% | 33 |
| 3-bedroom house | $1,095 | +9.5% | 66 |
| 4-bedroom house | $1,500 | -12.0% | 26 |
* Based on fewer than 20 new leases in the year, so it can swing a lot.
Median sale price
| Type | Median price | Period |
|---|---|---|
| House | $2,230,000 | Mar 2026 quarter |
| Unit | $672,500 | Mar 2026 quarter |
† Fewer than 10 sales. ‡ No sales that quarter, so an earlier figure is shown.
Suburbs with similar rent
- Box Hill $610 a week
- Hawthorn East $610 a week
- Brunswick $600 a week
- Camberwell $600 a week
- Carlton North $600 a week
- Elsternwick $600 a week