Melbourne
The median rent for a 2-bedroom unit in Melbourne is $735 a week for leases that started in the year to September 2025, up 2.1% on a year earlier. That is 34% above the typical 2-bedroom unit rent across Melbourne ($550). The median sale price in the Mar 2026 quarter was $490,000 for a unit. A year of rent for that home is about 7.0% of its median sale price (gross rental yield).
Median rent in Melbourne
| Home | Rent a week | Change over a year | New leases |
|---|---|---|---|
| 1-bedroom unit | $560 | +1.8% | 6,274 |
| 2-bedroom unit | $735 | +2.1% | 6,605 |
| 3-bedroom unit | $1,050 | -4.5% | 737 |
* Based on fewer than 20 new leases in the year, so it can swing a lot.
Median sale price
| Type | Median price | Period |
|---|---|---|
| Unit | $490,000 | Mar 2026 quarter |
† Fewer than 10 sales. ‡ No sales that quarter, so an earlier figure is shown.
Suburbs with similar rent
- Port Melbourne $745 a week
- Fitzroy $750 a week
- Southbank $720 a week
- Docklands $763 a week
- Burnley $700 a week
- Richmond $700 a week