Essendon West (postcode 3040) is a close-knit residential community in Victoria within the Moonee Valley local government area. It is home to about 1,559 residents, with an established family demographic and a median age of 39. Households earn a median income of $122K per year, with an average household size of 2.7 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 construction and professional services. The top ancestries reported are Australian, English, Italian.
Median house prices in Essendon West stand at $1.7 million, having surged by 43.8% over the last twelve months. The current median weekly rent is $550. This gives a gross rental yield of approximately 1.7%. The median monthly mortgage repayment is $2,682.
Public transport access includes 8 bus stops. The crime rate in the Moonee Valley LGA is moderate at 7,989 incidents per 100,000 population.
On the investment side, The gross rental yield works out to roughly 1.7%, which reads as low yield. Property prices are above the state median ($1.7M/$850K), placing it in the premium segment. The price-to-income ratio of 13.8x is considered stretched. House prices have moved +43.8% 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.