Richmond
The median rent for a 2-bedroom unit in Richmond is $700 a week for leases that started in the year to September 2025, up 2.9% on a year earlier. That is 27% above the typical 2-bedroom unit rent across Melbourne ($550). The median sale price in the Mar 2026 quarter was $1,373,000 for a house and $557,500 for a unit. A year of rent for that home is about 5.8% of its median sale price (gross rental yield). The rent data covers Richmond-Burnley as one area, so these rent figures are shared by Burnley, Richmond.
Median rent in Richmond
| Home | Rent a week | Change over a year | New leases |
|---|---|---|---|
| 1-bedroom unit | $510 | +3.0% | 871 |
| 2-bedroom unit | $700 | +2.9% | 881 |
| 3-bedroom unit | $1,000 | 0.0% | 132 |
| 2-bedroom house | $750 | +4.2% | 258 |
| 3-bedroom house | $990 | +4.2% | 214 |
| 4-bedroom house | $1,315 | +9.6% | 42 |
* Based on fewer than 20 new leases in the year, so it can swing a lot.
Median sale price
| Type | Median price | Period |
|---|---|---|
| House | $1,373,000 | Mar 2026 quarter |
| Unit | $557,500 | Mar 2026 quarter |
† Fewer than 10 sales. ‡ No sales that quarter, so an earlier figure is shown.
Suburbs with similar rent
- South Melbourne $700 a week
- South Yarra $700 a week
- Abbotsford $695 a week
- Collingwood $695 a week
- Clifton Hill $690 a week
- East Melbourne $690 a week