Median price trend for houses
Based on 24 sales in the preceding 12 months
$2,320,000
Up 33.4% over 12 months
- 2 bed
- $1.33m
- 3 bed
- $2.57m
- 4 bed
- $2.85m
Aerial view
Imagery © Esri
The quick read on
Princes Hill
VIC 3054 · Yarra
What homes cost, how rents have moved, and a feel for the people who call it home.
- Median house
- $2,320,000
- Median unit
- $690,000
- Population
- 2,005
- Postcode
- 3054
latest suburb median
latest suburb median
ABS 2021
Princes Hill, Victoria
Property market insights for Princes Hill
Median sale price and rental income of properties in Princes Hill VIC
Median rent trend for houses
Based on 23 rental listings in the preceding 12 months
$900 per week
No change over 12 months
Market data updated October 2026.
The median house price in Princes Hill, VIC is currently $2,320,000, based on the latest 12 months of sales. Princes Hill has a 12-month growth rate of 33.4% for houses and -23.7% for units.
Two-bedroom houses have a median sale price of $1,330,000, Three-bedroom houses have a median sale price of $2,570,000, Four-bedroom houses have a median sale price of $2,850,000 in Princes Hill.
If you're looking to lease, the median rent for houses in Princes Hill is $900 per week. The median house rent has remained unchanged over the last 12 months.
The median price of apartments and units for sale in Princes Hill is $690,000, which has decreased 23.7% since the same time last year. Two-bedroom apartments and units have a median sale price of $690,000 in Princes Hill. The median rent for units and apartments in Princes Hill is $525 per week and has decreased 8.7% over the last 12 months.
Crime and safety
Is Princes Hill safe?
The overall rate for Princes Hill is 2,936 offences per 100,000 residents — 27% below the Greater Melbourne benchmark.
That is the clearest suburb-wide answer. Open the detailed profile to see how the pattern changes across offence types and different parts of Princes Hill.
Overall crime rate
2,936
offences per 100,000 residents
27% belowGreater Melbourne
Princes HillGreater Melbourne: 4,001
Suburb-wide estimate from Microburbs' public crime model; it is not an address-level measure.
The people behind the postcode
Who lives in Princes Hill?
Princes Hill VIC 3054 is in Victoria, within Greater Melbourne.
2,005 people call Princes Hill home, with an average of 2.2 people per household and a median household income of $2,218 a week.
Public ABS 2021 Census figures. The bars compare the local share with the capital-region benchmark.
- Population
- 2,005
- Median age
- 39 years
- Median mortgage
- $3,000 / month
- 2021 household rent
- $462 / week
Above the benchmarkBelow the benchmarkIn lineGreater Melbourne benchmark
Age profile
Share of residents in each age band.
Under 1512.7%Below
15–3432.8%Above
35–5423.7%Below
55–7422.1%Above
75 and over8.8%Above
Homes
Share of occupied private dwellings.
Separate houses14.2%Below
Townhouses57.2%Above
Apartments28.8%Above
Ownership
Share of homes with a stated ownership or rental status.
Owned outright37.5%Above
Paying a mortgage18.1%Below
Renting44.5%Above
Cars at home
Vehicles available to occupied households.
No car16.7%Above
One car46.7%Above
Two cars29.6%Below
Three or more7.2%Below
Getting to work
Selected ways residents worked or travelled on Census day.
Worked from home46.1%Above
Drove to work21.6%Below
Train, tram or bus5.1%Above
Walked or cycled12.0%Above
What stands out in Princes Hill
46.1% of workers in Princes Hill worked from home on Census day — noticeably more common than across Greater Melbourne.
3.3% of Princes Hill residents were born in England.
56.1% of people in Princes Hill described themselves as having no religion in the 2021 Census.
A closer look at the Census
Questions people ask about Princes Hill
Open any question for a plain-English reading of the public 2021 Census for Princes Hill VIC 3054.
Is Princes Hill family-friendly?Age, family structure and household size describe the community families would be joining.
12.7% of Princes Hill's residents were children under 15 in the 2021 Census. That is somewhat below the Greater Melbourne average.
491 family households lived in Princes Hill; 34.8% were couple families and 12.2% were one-parent families.
29.7% of local families included children under 15. That is well below the Greater Melbourne average.
These are suburb-wide household figures, not school or childcare ratings.
What is the age profile of Princes Hill?The balance between younger adults, families and older residents changes how a suburb feels day to day.
Princes Hill had 2,005 residents at the 2021 Census.
32.1% of residents were aged 25 to 44.
31.0% were 55 or older. That is somewhat above the Greater Melbourne average.
Age shares use the suburb’s total Census population.
What kind of homes are in Princes Hill?The dwelling mix shows whether the suburb is mostly detached homes, townhouses or apartments.
Separate houses made up 14.2% of occupied private dwellings in Princes Hill.
Townhouses and other attached homes represented 57.2% of occupied private dwellings.
Flats and apartments accounted for 28.8% of occupied private dwellings.
All three shares use occupied private dwellings as the denominator.
Do people own or rent in Princes Hill?Tenure shows how many households own outright, have a mortgage or rent.
37.5% of households with a stated tenure owned their home outright. That is well above the Greater Melbourne average.
18.1% were buying their home with a mortgage.
44.5% rented their home. That is well above the Greater Melbourne average.
Tenure shares include households that stated one of these three arrangements.
How large are households in Princes Hill?Household-size data shows the mix behind the suburb-wide average.
The average household in Princes Hill had 2.2 people.
One-person households made up 32.5% of occupied homes. That is well above the Greater Melbourne average.
Two-person households represented 35.8%, while 16.8% had four or more usual residents.
Household size counts usual residents in occupied homes.
How do people get to work in Princes Hill?Census-day travel shows the balance between home, road, public transport and active travel.
46.1% of workers worked from home on Census day. That is well above the Greater Melbourne average.
21.6% drove a car as their only travel method. That is about half the Greater Melbourne rate.
5.1% used only a train, tram or bus, while 12.0% walked or cycled.
Travel figures are a 2021 Census-day snapshot.
How many cars do households have in Princes Hill?Vehicle availability helps describe the routines local households can support.
16.7% of occupied households had no motor vehicle available. That is about twice the Greater Melbourne rate.
One-car households formed 46.7% of the total.
36.8% of households had two or more vehicles.
Vehicle counts refer to occupied households, not individual residents.
Who's moving to Princes Hill, and who stays?Address history shows how settled or recently mobile residents were at the Census date.
55.9% were at the same address five years earlier, while 44.1% reported a different address.
21.7% of residents were born outside Australia. That is well below the Greater Melbourne average.
Mobility figures cover residents who answered the relevant Census question.
What languages are spoken in Princes Hill?Language at home gives a direct view of the community’s everyday linguistic mix.
79.9% of residents used only English at home.
15.2% used a language other than English at home.
0.6% spoke Mandarin at home, 0.8% spoke Cantonese and 0.0% spoke Hindi.
Home language is separate from English proficiency.
Where were Princes Hill residents born?Birthplace adds another layer to the local story, separate from ancestry and language.
21.7% of Princes Hill's population was born outside Australia, while roughly 78.3% was born in Australia.
0.5% of residents were born in China.
0.3% were born in India, while Australian citizenship across the whole suburb stood at 88.1%.
Birthplace, citizenship and ancestry describe different parts of identity.
What ancestries shape Princes Hill?Ancestry responses show how residents describe family and cultural background.
English ancestry accounted for 33.9% of ancestry responses in Princes Hill.
Australian ancestry made up 24.8% of responses.
Chinese ancestry represented 3.1% of responses.
People may nominate more than one ancestry, so these are shares of responses.
What work do people do in Princes Hill?Occupation describes a person’s role; industry describes the sector employing them.
47.5% of employed residents worked in professional occupations. That is well above the Greater Melbourne average.
Managers accounted for 15.5% of employed residents, while clerical and administrative workers made up 9.8%.
Health care and social assistance employed 14.8% of workers, and education and training employed 12.4%.
Occupation and industry figures describe employed residents of the suburb.
How active is the workforce in Princes Hill?Participation, employment pattern and unemployment describe the resident labour force.
The labour-force participation rate was 65.7%, compared with 64.1% across Greater Melbourne.
36.8% of residents aged 15 and over worked full time, while 21.8% worked part time.
Unemployment was 5.1%, compared with 5.3% across Greater Melbourne.
Labour-force figures come from the 2021 Census.
What does the health profile of Princes Hill show?Selected long-term health conditions help describe community service needs.
57.9% reported no selected long-term health condition.
10.4% reported a long-term mental health condition, including depression or anxiety.
8.0% reported asthma, 7.4% arthritis and 2.5% diabetes excluding gestational diabetes.
These are self-reported suburb-wide Census figures, not address-level health risks.
How educated is Princes Hill?Qualifications describe the study pathways represented among local residents.
41.0% of people in the qualifications table held a bachelor degree. That is well above the Greater Melbourne average.
Postgraduate degrees accounted for 26.6% of qualification responses.
Diploma-level qualifications represented 7.8%, while certificate-level qualifications represented 9.9%.
Qualification categories are reported separately and are not school ratings.
What do incomes and housing costs look like in Princes Hill?Census income and household payments give historical context for local living costs.
Median household income was $2,218 per week in the 2021 Census.
The median monthly mortgage repayment reported by local households was $3,000.
Occupied renting households reported a median rent of $462 per week.
These household figures are from 2021; current sale and asking-rent medians appear in the market section.
How does Princes Hill compare with Greater Melbourne?A few clear differences place the suburb in its wider metropolitan context.
Working from home was 46.1% in Princes Hill, compared with 28.8% across Greater Melbourne.
Outright ownership was 37.5% locally and 30.7% across Greater Melbourne. That is well above the Greater Melbourne average.
Renting accounted for 44.5% in Princes Hill, against 31.1% across Greater Melbourne.
Capital-region comparisons use the same Census definitions and year.
Three useful questions
A buyer’s quick guide to Princes Hill
Is Princes Hill expensive?
The median house price is $2,320,000, while units and apartments sit at $690,000. Bedroom count, land and condition still create a wide range around those suburb medians.
Is Princes Hill good for families?
The Census counted 491 local families, and 12.7% of residents were under 15. That describes the community; school quality, travel times and the right fit for a particular family need separate research.
What can I get for $1.5m in Princes Hill?
2-bedroom houses have a median around $1,330,000, the closest bedroom benchmark we hold to a $1.5m budget. Individual homes can differ substantially with block size, renovation and location.
Medians describe recorded market activity across the suburb; they are historical context, not a valuation or forecast for an individual home.
Explore the area
Streets and suburbs around Princes Hill
20 streets in Princes Hill
Street-by-street reports are not published yet. The streets below are the ones this suburb covers.
- Arnold St
- Bagung Ln
- Bougainville Pl
- Bowen Cr
- Cassar Pl
- Garton St
- Holtom St East
- Holtom St West
- Keeley Lane
- Lang St
- Lygon St
- Macpherson St
- Mcilwraith St
- Munnering Ln
- Park St
- Paterson St
- Pigdon St
- Richardson St
Show all 20 streetsShow fewer streets
- Solly Ave
- Wilson St
12 suburbs surrounding Princes Hill
Compare nearby suburb prices, rents and five-year market trends.
Keep exploring
Is Princes Hill right for your search?
Use the finders to compare places and properties, or open the full report when you need the street, risk, schools and growth research.
Read the thinking
Figures update as new market and census data arrives. This suburb overview is general information, not a valuation or financial advice.