Is Glen Iris a nice place to live?

Glen Iris centres on a village-style shopping strip along Burke Road and on the Gardiners Creek reserves and shared trail that run through the suburb. The community is a suburb of families, with couple families with children making up 51.7% of families, and residents generally have incomes above the Victorian median. Everyday amenity includes cafes and small retailers, extensive parkland and walking routes, sporting reserves and easy public transport via Glen Iris station on the Glen Waverley line, and Stonnington's public transport advocacy calls for coordinated planning for a Glen Iris station upgrade and the High Street level crossing removal.

Is it expensive to live in Glen Iris?

On these figures, renting and buying in Glen Iris point in different directions. A typical local household earned about $2,491 a week at the most recent Census. A house rent of $1,050 a week would take about 42% of that weekly income, a large share, while a unit rent of $570 a week would take about 23%, a moderate share. If you are renting, those rent shares are the most relevant numbers. Looking at buying, a median house price of $2,100,000 is about 16.2 times a typical local annual household income, which sits well above local incomes. The median unit price of $644,000 is about 5.0 times a typical local annual household income, which is somewhat above local incomes. 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.

Is Glen Iris a good place to invest?

In Glen Iris, house rents climbed a strong 14.1% over the last 12 months, while unit values rose a strong 11.1%. That split matters by property type. On houses, rental income rose much faster than capital growth, with house rents up 14.1% while house values rose a slight 1.9%. For units, capital growth was the faster mover, as unit values rose 11.1% while unit rents increased a modest 3.6%. 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.

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Glen Iris suburb profile

Glen Iris is an inner-east Melbourne suburb of tree-lined streets, where period cottages and bungalows sit alongside postwar brick homes and newer townhouses. The suburb is anchored by a village-style shopping strip along Burke Road and by Gardiners Creek, whose reserves and shared trail create continuous green space through the neighbourhood.

Local life is shaped by cafes, small retailers and sporting reserves, and by easy public transport via Glen Iris station on the Glen Waverley line and several main roads. The prevailing impression is a settled, leafy residential area with extensive parkland and walking routes close at hand.

Glen Iris property market performance

Current median dwelling price$1,372,000Past 3 months

Property growth+6.5%Past 12 months

Glen Iris has a median house price of $2.1 million, which edged up 1.9% over the last 12 months. The median unit price is $644,000, up 11.1% over the same 12 months.

Unit values rose faster than house values, and units sold more quickly, with a median days on market of 34 for units compared with 45 for houses. In Glen Iris house rents rose steeply, up 14.1% over 12 months, outpacing the small rise in house values; the average house rent is $1,050 a week.

	Houses	Units
Median price Past 3 months	$2.10M	$644K
Change in value Past 12 months	1.9%	11.1%
Sold Past 3 months	63	58
Median days on market Past 12 months	45	34
Average rent Past 12 months	$1050	$570
Change in rent Past 12 months	14.1%	3.6%

5 year median price trend for houses and units

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Glen Iris demographics

Glen Iris is a community with incomes above the median for Victoria.

Most families are couples with children, at 51.7% of families, and 37.9% of homes are owned outright. At the 2021 Census, 26,131 people lived in Glen Iris.

Glen Iris and Victoria

	Suburb	VIC
Median age years	40	38
Median household income weekly	$2,491	$1,759
Couples with children share of families	51.7%	45.5%
Couples without children share of families	35.6%	37.6%
One-parent families share of families	10.9%	15.2%
Homes owned outright share of homes	37.9%	33.2%
Homes with a mortgage share of homes	33.8%	37.3%
Homes rented share of homes	28.3%	29.5%

Source: ABS 2021 Census. Shares of homes exclude other and not-stated tenure.

Glen Iris infrastructure, key developments and investment opportunities

Glen Iris is the site of the Gardiner tram substation project, with construction anticipated to begin in 2025 and be completed in 2026, and the substation located within the rail reserve near the corner of Burke Road and King Street.

Lewin Reserve’s new pavilion in Glen Iris was completed in December 2023 and includes a rooftop terrace. The Ferndale Park pavilion renewal in Glen Iris is now planned as a demolition and rebuild, with construction estimated to commence in late 2026 and works to include four new change rooms. Stonnington’s public transport advocacy also calls for coordinated planning for a Glen Iris station upgrade and High Street level crossing removal, with delivery to commence by 2026.

Suburbs near Glen Iris

Some popular suburbs near Glen Iris include:

How does Glen Iris compare to nearby suburbs?

Median house prices: Glen Iris’s median house price is 16.7% higher than Ashburton’s.
Median unit prices: Glen Iris’s median unit price is 28.8% higher than Malvern East’s.
House price growth: Over the past 12 months, house prices in Glen Iris have grown 6.6% higher than in Camberwell.
Unit price growth: Over the past 12 months, unit prices in Glen Iris have grown 29.6% higher than in Ashburton.
Selling speed for houses: Properties in nearby Ashburton are selling 2.2% faster than in Glen Iris.
Selling speed for units: Properties in Glen Iris are selling 2.9% faster than in Malvern East.
Investment considerations: In Glen Iris, the rental yield for house is 65.1% higher than the Melbourne average, while the rental yield for units is 4.2% lower.
House price growth: Over the past 12 months, house prices in Glen Iris have grown 117.7% higher than the average rate of growth across Melbourne.
Unit price growth:Over the past 12 months, unit prices in Glen Iris have grown 16.5% higher than the average rate of growth for units across Melbourne.

Common questions about Glen Iris

Is Glen Iris a nice place to live?
Glen Iris centres on a village-style shopping strip along Burke Road and on the Gardiners Creek reserves and shared trail that run through the suburb.

The community is a suburb of families, with couple families with children making up 51.7% of families, and residents generally have incomes above the Victorian median. Everyday amenity includes cafes and small retailers, extensive parkland and walking routes, sporting reserves and easy public transport via Glen Iris station on the Glen Waverley line, and Stonnington's public transport advocacy calls for coordinated planning for a Glen Iris station upgrade and the High Street level crossing removal.
Is it expensive to live in Glen Iris?
On these figures, renting and buying in Glen Iris point in different directions. A typical local household earned about $2,491 a week at the most recent Census. A house rent of $1,050 a week would take about 42% of that weekly income, a large share, while a unit rent of $570 a week would take about 23%, a moderate share. If you are renting, those rent shares are the most relevant numbers.

Looking at buying, a median house price of $2,100,000 is about 16.2 times a typical local annual household income, which sits well above local incomes. The median unit price of $644,000 is about 5.0 times a typical local annual household income, which is somewhat above local incomes. 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.
Is Glen Iris a good place to invest?
In Glen Iris, house rents climbed a strong 14.1% over the last 12 months, while unit values rose a strong 11.1%.

That split matters by property type. On houses, rental income rose much faster than capital growth, with house rents up 14.1% while house values rose a slight 1.9%. For units, capital growth was the faster mover, as unit values rose 11.1% while unit rents increased a modest 3.6%.

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.

Choose the right real estate agents in Glen Iris

In Glen Iris ,200 agents are actively selling property, but a small number do the heavy lifting. Just 5 agents handled 22.7% of all sales in the past year, giving them a strong presence and deep experience in the local market.

Commission rates usually sit between 1.71% and 2.57%. Comparing agents and understanding what’s included in their fee structure can help you find the right mix of service, value, and motivation—without compromising on outcomes.