October 2026 data · Melbourne · VIC
Port Melbourne house prices: median price and growth
- Median house
- $1.50m ▼ −5.2% in 12 months
- Median unit
- $720k ▲ +4.0% in 12 months
The median house price in Port Melbourne is $1.50m (October 2026), down 5.2% over 12 months. Units have a median of $720k, up 4.0% over 12 months. That puts Port Melbourne below the typical Inner Melbourne suburb ($1.63m) and number 4 of the 11 suburbs around it.
Median house price
- $2.25M+
- $2M–$2.25M
- $1.75M–$2M
- $1.5M–$1.75M
- $1.25M–$1.5M
- $1M–$1.25M
- $750K–$1M
- $500K–$750K
- <$500K
Port Melbourne price changes
| Type | Median | 3 mo | 6 mo | 12 mo |
|---|---|---|---|---|
| House | $1.50m | ▼ −3.1% | ▼ −3.7% | ▼ −5.2% |
| Unit | $720k | 0.0% | ▲ +2.1% | ▲ +4.0% |
Changes compare the median with three, six and twelve months earlier. A dash means too few sales for a reliable figure. How these figures are worked out.
Port Melbourne compared with nearby suburbs
Suburbs within about 1 km of Port Melbourne, dearest house median first. Select a column heading to sort.
| House | Unit | |||||||
|---|---|---|---|---|---|---|---|---|
| Albert Park | $2.37m | ▼ −4.1% | ▼ −0.8% | ▼ −3.2% | $934k | 0.0% | ▲ +13.2% | ▲ +33.4% |
| South Melbourne | $1.65m | ▲ +7.6% | ▼ −2.3% | ▲ +12.7% | $605k | ▼ −1.4% | ▲ +1.0% | ▲ +0.8% |
| Williamstown | $1.51m | ▼ −3.0% | ▼ −4.3% | ▼ −3.2% | $663k | ▼ −1.9% | ▼ −5.4% | ▼ −21.4% |
| Port Melbourne | $1.50m | ▼ −3.1% | ▼ −3.7% | ▼ −5.2% | $720k | 0.0% | ▲ +2.1% | ▲ +4.0% |
| West Melbourne | $1.32m | ▲ +1.8% | ▼ −3.7% | ▲ +2.6% | $530k | ▼ −1.0% | ▲ +2.1% | ▲ +6.0% |
| Newport | $1.24m | ▼ −1.6% | 0.0% | ▲ +1.9% | $720k | ▲ +0.7% | ▲ +5.7% | ▼ −0.4% |
| Yarraville | $1.19m | ▼ −0.8% | ▲ +0.5% | ▲ +5.0% | $672k | ▲ +6.9% | ▲ +12.0% | ▲ +12.0% |
| Docklands | $1.18m | ▼ −14.2% | ▼ −13.2% | ▼ −32.2% | $580k | 0.0% | ▼ −0.9% | ▼ −3.4% |
| Spotswood | $1.17m | ▲ +1.3% | ▼ −0.4% | ▼ −3.7% | $763k | ▼ −1.9% | ▼ −4.9% | ▲ +4.2% |
| Southbank | $1000k | – | – | – | $540k | ▼ −0.9% | ▲ +0.9% | ▼ −2.7% |
| Footscray | $910k | ▼ −4.1% | ▼ −0.8% | ▼ −1.1% | $473k | ▲ +1.6% | ▲ +3.8% | ▲ +3.9% |
| South Wharf | – | – | – | – | $805k | – | – | – |
Living in Port Melbourne
From the 2021 ABS Census: Port Melbourne against the Melbourne council area and VIC. Council and state percentages count all their residents; their medians are the middle suburb by population.
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| Figure | Port Melbourne | Melbourne (council) | VIC |
|---|---|---|---|
| People | |||
| Population | 17,633 | 185,721 | 6,503,500 |
| Median age | 42 | 31 | 39 |
| Families with children | 🔒 | 🔒 | 🔒 |
| Born overseas | 30.0% | 50.9% | 30.0% |
| Language other than English at home | 🔒 | 🔒 | 🔒 |
| Work and education | |||
| Median household income | $2,372/wk | $1,717/wk | $1,856/wk |
| Median personal income | 🔒 | 🔒 | 🔒 |
| Professionals and managers | 🔒 | 🔒 | 🔒 |
| Unemployment | 🔒 | 🔒 | 🔒 |
| Bachelor degree or higher | 🔒 | 🔒 | 🔒 |
| Completed Year 12 | 🔒 | 🔒 | 🔒 |
| Housing | |||
| Owned outright | 🔒 | 🔒 | 🔒 |
| Owned with a mortgage | 🔒 | 🔒 | 🔒 |
| Rented | 43.3% | 64.0% | 28.5% |
| Separate houses | 🔒 | 🔒 | 🔒 |
| Flats and apartments | 🔒 | 🔒 | 🔒 |
| Median weekly rent | 🔒 | 🔒 | 🔒 |
| Median mortgage repayment | 🔒 | 🔒 | 🔒 |
| Advantage | |||
| SEIFA advantage (IRSAD), Australian decile | 🔒 | 🔒 | 🔒 |
🔒 Age, occupation and ancestry breakdowns for Port Melbourne, its council and VIC
Source: ABS Census of Population and Housing 2021. More figures, maps and the 2016 Census are in Location Insights.
Common questions
What is the median house price in Port Melbourne?
The median house price in Port Melbourne was $1.50m in October 2026, down 5.2% on a year earlier. The typical Inner Melbourne suburb median was $1.63m.
What is the median unit price in Port Melbourne?
The median unit price in Port Melbourne was $720k in October 2026, up 4.0% over 12 months.
Is Port Melbourne more expensive than nearby suburbs?
Of the 10 neighbouring suburbs with a median house price, 3 are dearer than Port Melbourne and 7 are cheaper or the same.
Where does this data come from?
Prices come from REA sales data for October 2026, all bedroom counts, refreshed monthly. Medians cover sales over the past 12 months; changes are shown only where at least 10 homes of that type sold.