Preston
The median rent for a 2-bedroom unit in Preston is $550 a week for leases that started in the year to September 2025, up 7.8% on a year earlier. That is in line with the typical 2-bedroom unit rent across Melbourne. The median sale price in the Mar 2026 quarter was $1,285,000 for a house and $620,300 for a unit. A year of rent for that home is about 4.6% of its median sale price (gross rental yield).
Median rent in Preston
| Home | Rent a week | Change over a year | New leases |
|---|---|---|---|
| 1-bedroom unit | $440 | +10.0% | 236 |
| 2-bedroom unit | $550 | +7.8% | 521 |
| 3-bedroom unit | $695 | +6.9% | 89 |
| 2-bedroom house | $588 | +5.0% | 112 |
| 3-bedroom house | $675 | +3.8% | 237 |
| 4-bedroom house | $925 | +17.1% | 57 |
* Based on fewer than 20 new leases in the year, so it can swing a lot.
Median sale price
| Type | Median price | Period |
|---|---|---|
| House | $1,285,000 | Mar 2026 quarter |
| Unit | $620,300 | Mar 2026 quarter |
† Fewer than 10 sales. ‡ No sales that quarter, so an earlier figure is shown.
Suburbs with similar rent
- Ascot Vale $550 a week
- Blackburn $550 a week
- Cheltenham $550 a week
- Coburg $550 a week
- Mentone $550 a week
- Moonee Ponds $550 a week