Essendon (postcode 3040) is a sizeable suburb in Victoria within the Moonee Valley local government area. The area has roughly 21,240 residents and a settled mid-life population, with a median age of 39. Households earn a median income of $111K per year, with an average household size of 2.4 people. Recent annual estimates show population movement staying broadly stable across the broader catchment, with population growth running at +1.0% 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 professionals, managers, clerical & administrative. Employment in the area leans toward healthcare and professional services. The top ancestries reported are English, Australian, Italian.
Essendon has a median house price of $1.4 million, which has fallen sharply by 18.2% year-on-year. Units have a median price of $571,000 (+5.3% YoY). The current median weekly rent is $550. This gives a gross rental yield of approximately 2.0%. The median monthly mortgage repayment is $2,275.
Essendon is served by 7 schools, including 3 primary, 3 secondary, 1 combined. The average ICSEA score is 1117, which is well above the national average of 1,000. Public transport access includes 12 rail stations, 110 bus stops. The crime rate in the Moonee Valley LGA is moderate at 7,989 incidents per 100,000 population.
From an investment perspective, Gross rental yield sits at around 2.0% (low yield). Property prices are above the state median ($1.4M/$850K), placing it in the premium segment. The price-to-income ratio of 12.9x is considered stretched. House prices have moved -18.2% year-on-year. Population growth of +1.0% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.