North Melbourne
The median rent for a 2-bedroom unit in North Melbourne is $660 a week for leases that started in the year to September 2025, up 1.5% on a year earlier. That is 20% above the typical 2-bedroom unit rent across Melbourne ($550). The median sale price in the Mar 2026 quarter was $1,200,000 for a house and $570,000 for a unit. A year of rent for that home is about 6.0% of its median sale price (gross rental yield). The rent data covers North Melbourne-West Melbourne as one area, so these rent figures are shared by North Melbourne, West Melbourne.
Median rent in North Melbourne
| Home | Rent a week | Change over a year | New leases |
|---|---|---|---|
| 1-bedroom unit | $525 | +7.1% | 1,239 |
| 2-bedroom unit | $660 | +1.5% | 1,239 |
| 3-bedroom unit | $882 | -1.5% | 160 |
| 2-bedroom house | $650 | +3.2% | 59 |
| 3-bedroom house | $853 | +0.4% | 62 |
| 4-bedroom house | $1,080 | -1.8% | 22 |
* Based on fewer than 20 new leases in the year, so it can swing a lot.
Median sale price
| Type | Median price | Period |
|---|---|---|
| House | $1,200,000 | Mar 2026 quarter |
| Unit | $570,000 | Mar 2026 quarter |
† Fewer than 10 sales. ‡ No sales that quarter, so an earlier figure is shown.
Suburbs with similar rent
- Armadale $650 a week
- Beaumaris $650 a week
- Carlton $670 a week
- Hampton $650 a week
- Parkville $670 a week
- Prahran $650 a week