Located in Victoria within the Casey local government area, Cranbourne is a well-populated suburb (postcode 3977). It is home to about 21,281 residents, with a mix of young professionals and families and a median age of 35. Households earn a median income of $77K per year, with an average household size of 2.7 people. Recent annual estimates show population movement into the broader catchment, with population growth running at +2.7% year-on-year at the LGA level. VIC employment has moved +0.8% year-on-year in the official ABS Labour Force trend series, which provides the broader jobs backdrop for this suburb. VIC also had 41 Commonwealth-backed major projects under construction, 18 underway, and 24 in planning as at 2025-09-01, which is useful as a broader delivery backdrop rather than a suburb-specific project count. The most common occupations are technicians & trades, labourers, machinery operators & drivers. Employment in the area leans toward healthcare and manufacturing. The top ancestries reported are English, Australian, Indian.
Median house prices in Cranbourne stand at $650,000, having dipped slightly by 1.5% over the last twelve months. Units have a median price of $472,000 (+4.9% YoY). The current median weekly rent is $580. This gives a gross rental yield of approximately 4.6%. The median monthly mortgage repayment is $1,627.
Cranbourne is served by 11 schools, including 7 primary, 3 secondary, 1 combined. The average ICSEA score is 986, which is around the national average of 1,000. Public transport access includes 11 rail stations, 67 bus stops. Healthcare facilities include 1 public hospital. The crime rate in the Casey LGA is moderate at 7,323 incidents per 100,000 population.
From an investment perspective, The gross rental yield works out to roughly 4.6%, which reads as moderate yield. Property prices are near the state median ($650K/$850K). The price-to-income ratio of 8.5x is considered moderate. House prices have moved -1.5% year-on-year. Population growth of +2.7% year-on-year points to strong growth demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.