Question 1

Is Fitzroy North a nice place to live?

Accepted Answer

Fitzroy North feels like a village within inner-north Melbourne, with broad, tree-lined streets and a strong stock of Victorian and Edwardian terraces and cottages beside pocket gardens. Residents are a mix of young professionals, families and long-time locals who value local cafes, independent shops and neighbourhood services. Edinburgh Gardens is a defining feature, with sporting ovals, playgrounds and off-leash areas that anchor much local life, and regular tram services plus good cycling links make access to inner-city amenities straightforward.

The suburb is home to 12,781 people, with a median age of 36 and a median household income of $2,300 a week. Housing tenure is mixed, with a slight majority rented and almost half owner-occupied, so both renters and buyers are common. The area is also the focus of state and local projects, including the Fitzroy Gasworks precinct which will add homes, public open space and community facilities with a minimum allocation for social and affordable housing. Whether Fitzroy North suits you depends on what you want from an inner-north pocket with leafy, low-rise character and nearby amenities.

Question 2

Is it expensive to live in Fitzroy North?

Accepted Answer

Housing costs in Fitzroy North sit unevenly against local incomes at the last Census. The median house price of $1,517,500 is about 12.7 times a typical local annual household income at the last Census, while the median unit price of $643,000 is about 5.4 times. On the rental side, an average house rent of $900 a week would take roughly 39.1% of a typical local household's weekly income at the last Census, a sizeable share, and an average unit rent of $600 a week would take about 26.1%, a moderate share. Whether that feels expensive depends on your own income and circumstances.

Everyone's financial situation is different, so it's important to consider your own circumstances when deciding which suburb is right for you.

Question 3

Is Fitzroy North a good place to invest?

Accepted Answer

The past 12 months in Fitzroy North show notably larger gains in property values than in rents. Median house values rose 12.1% and median unit values rose 13.0%, both strong increases over the year. By comparison, house rents grew a modest 2.9% while unit rents were up a solid 6.2%.

Put simply, capital growth outpaced rental income for both houses and units over the year, and unit rents rose faster than house rents. If rental income is your priority, the unit rent movement is the figure that matters; if capital growth matters more, both property types have shown strong value growth. Whether that pattern fits your goals depends on your individual circumstances.

This information has been prepared without taking your objectives, needs and overall financial situation into account. It is not meant to be a substitute for professional financial advice. For this reason, you should consider the appropriateness of the information and, if necessary, seek appropriate professional advice.

	Houses	Units
Median price Past 3 months	$1.52M	$643K
Change in value Past 12 months	12.1%	13.0%
Sold Past 3 months	45	24
Median days on market Past 12 months	37	49
Average rent Past 12 months	$900	$600
Change in rent Past 12 months	2.9%	6.2%

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