Average rent in Elwood, VIC — 2026

Elwood is part of the Port Phillip council area and sits 8km out from the Melbourne CBD, with around 14,818 residents at the 2021 ABS Census. Renters here typically pay $415/week, which is above the Victoria median of $363/week. About 51% of households rent — the rest are owners or paying down a mortgage.

$415/wk

ABS 2021 Census median

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Suburb at a glance

Population
14,818

ABS 2021

Median age
38
Distance to Melbourne
8 km
Households renting
51%
Separate houses
14%
Flats / apartments
72%
Born overseas
27%
Top occupation
Professionals
LGA
Port Phillip

Renting in Elwood

Elwood sits well above the Victoria median, with the typical renter paying $415/week — that's 14% over the state-wide $363/week (ABS Census 2021). It's a renter-heavy suburb at 51%, and the housing stock leans hard into apartments and flats (72%) — the high-density profile you'd expect from inner-Melbourne. About 27% of residents were born overseas, and the most common occupation category is Professionals. At 8km from the Melbourne CBD, the rent premium tracks proximity to jobs, transit, and lifestyle. If you're applying here, expect competition and fast market times. State rent indices (CoreLogic, Domain, SQM) suggest the 2021 baseline is already well out of date — your reported figure above is the live read.

Frequently asked questions

What's the median rent in Elwood?+
Based on ABS Census 2021 data, the median weekly rent for households in Elwood, VIC was $415. Where renters have submitted recent reports through RenterSay, the live figure shown above reflects post-2021 changes. State rent indices like CoreLogic and Domain suggest the 2021 baseline is now several years stale — treat it as the historical anchor, not the current asking price.
How does Elwood rent compare to Victoria?+
At the 2021 Census, Victoria's state median rent was $363 a week. Elwood sat at $415 — 14% above the state average. The suburb is 8km from Melbourne, and rent generally scales with how close you are to the CBD, transit links, and the local dwelling mix (14% separate houses, 72% flats here).
Which suburbs near Elwood have lower rent?+
A few nearby suburbs come in cheaper than Elwood's $415/week (ABS 2021): Seddon - Kingsville, Chelsea Heights, Taylors Lakes. On the higher end, you've got Kensington (Vic.), Hughesdale, Lynbrook - Lyndhurst. Just remember that cheaper rent doesn't always mean better value — commute times, transit access, and the actual condition of the housing stock matter too. You can add to the live picture for your area using the rent submission form below.

Nearby suburbs in VIC

Tarneit - Central

$380/wk

Beaumaris

$612/wk

Brighton East

$602/wk

Brighton (Vic.)

$600/wk

Port Melbourne Industrial

$585/wk

Balwyn North

$554/wk

Renting in VIC?

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