Is Oak Park a nice place to live?

Oak Park's tree-lined streets, the Moonee Ponds Creek corridor and a local railway station sit alongside a compact commercial strip near the station. Oak Park is a suburb of families, with 45.3% of families being couple families with children and most homes owner-occupied. Public transport is accessible by rail and several bus routes, the creek corridor and small reserves provide green space and walking and cycling routes, and the local strip supplies everyday shops and cafes while larger retail and cultural precincts are within easy reach; the JP Fawkner Reserve sportsground upgrade is being planned, with works expected to rebuild playing surfaces and improve drainage.

Is it expensive to live in Oak Park?

A house at $915,000 in Oak Park works out to about 8.0 times a typical local annual household income, based on a weekly household income of $2,201 at the most recent Census. On those figures, buying a house sits well above local incomes. Renting looks less stretched. A house rent of $650 a week would take about 30% of a typical local household's weekly income, a sizeable share, while a unit rent of $500 a week would take about 23% of that income, a moderate share. If you're renting rather than buying, those rent shares are the numbers that matter. Everyone's financial situation is different, so it's important to consider your own circumstances when deciding which suburb is right for you.

Is Oak Park a good place to invest?

What stands out in Oak Park is the split between houses and units: over the past 12 months house values fell 2.4% while house rents rose 6.9%, and unit values rose 5.1% while unit rents rose 4.2%. For houses the movement was stronger on the rental side — rents climbed a solid 6.9% while values recorded a modest 2.4% fall. For units, capital growth slightly outpaced rent growth, with unit values up a solid 5.1% compared with a modest 4.2% rise in unit rents. 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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Oak Park suburb profile

Oak Park is an inner-northern Melbourne suburb with a settled, residential character marked by tree-lined streets and parkland. Housing is largely mid-20th century weatherboard and brick homes on regular blocks, with pockets of more recent townhouse infill. The Moonee Ponds Creek corridor and small reserves provide green space and easy walking and cycling routes.

The suburb has a local railway station on Melbourne's suburban network and several bus routes along its main roads, making public transport accessible. A compact commercial strip near the station offers everyday shops and cafes, while larger retail and cultural precincts are within easy reach.

Oak Park property market performance

Current median dwelling price$817,250Past 3 months

Property growth+1.3%Past 12 months

Oak Park's median house price is $915,000, down a modest 2.4% over 12 months. There is no reliable unit median because too few units have sold in the suburb recently for a median to be published. Houses and units sold in much the same time, with median days on market of 36 for houses and 33 for units.

In Oak Park, house rents rose a solid 6.9% over 12 months while house values fell.

	Houses	Units
Median price Past 3 months	$915K	N/A
Change in value Past 12 months	-2.4%	5.1%
Sold Past 3 months	36	9
Median days on market Past 12 months	36	33
Average rent Past 12 months	$650	$500
Change in rent Past 12 months	6.9%	4.2%

5 year median price trend for houses and units

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Oak Park demographics

Oak Park is a community with incomes above the median for Victoria.

Couple families with children make up 45.3% of families and most homes are owner-occupied. At the 2021 Census 6,714 people lived in Oak Park.

Oak Park and Victoria

	Suburb	VIC
Median age years	36	38
Median household income weekly	$2,201	$1,759
Couples with children share of families	45.3%	45.5%
Couples without children share of families	38.6%	37.6%
One-parent families share of families	13.9%	15.2%
Homes owned outright share of homes	31.1%	33.2%
Homes with a mortgage share of homes	37.2%	37.3%
Homes rented share of homes	31.7%	29.5%

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

Oak Park infrastructure, key developments and investment opportunities

Oak Park's JP Fawkner Reserve sportsground upgrade is being planned in 2026, with construction scheduled for the 2027/28 financial year; the works are expected to rebuild playing surfaces and improve drainage. The Narre Narre (Oak Park) Stadium basketball court upgrade was finished in 2026 and includes a new high-performance sports floor.

Rayner Reserve pavilion refurbishment was under way in 2026, upgrading the pavilion to two change rooms, a unisex umpires' room and a new accessible public toilet. The John Pascoe Fawkner Reserve pavilion was upgraded in 2024 to make it more accessible and to add female friendly change rooms. Oak Park Reserve playground was upgraded in 2020 and the Oak Park Sports and Aquatic Centre redevelopment was completed in 2018.

Suburbs near Oak Park

Some popular suburbs near Oak Park include:

How does Oak Park compare to nearby suburbs?

Median house prices: Oak Park’s median house price is 14.4% higher than Glenroy’s.
Median unit prices: Oak Park’s median unit price is 4.3% higher than Pascoe Vale’s.
House price growth: Over the past 12 months, house prices in Oak Park have grown 6.0% higher than in Strathmore.
Unit price growth: Over the past 12 months, unit prices in Oak Park have grown 1.4% higher than in Pascoe Vale.
Selling speed for houses: Properties in Oak Park are selling 2.7% faster than in Pascoe Vale.
Selling speed for units: Properties in Oak Park are selling 5.7% faster than in Pascoe Vale.
Investment considerations: In Oak Park, the rental yield for house is 2.2% higher than the Melbourne average, while the rental yield for units is 16.0% lower.
House price growth: Over the past 12 months, house prices in Oak Park have grown 8.8% lower than the average rate of growth across Melbourne.
Unit price growth:Over the past 12 months, unit prices in Oak Park have grown 10.2% higher than the average rate of growth for units across Melbourne.

Common questions about Oak Park

Is Oak Park a nice place to live?
Oak Park's tree-lined streets, the Moonee Ponds Creek corridor and a local railway station sit alongside a compact commercial strip near the station.

Oak Park is a suburb of families, with 45.3% of families being couple families with children and most homes owner-occupied. Public transport is accessible by rail and several bus routes, the creek corridor and small reserves provide green space and walking and cycling routes, and the local strip supplies everyday shops and cafes while larger retail and cultural precincts are within easy reach; the JP Fawkner Reserve sportsground upgrade is being planned, with works expected to rebuild playing surfaces and improve drainage.
Is it expensive to live in Oak Park?
A house at $915,000 in Oak Park works out to about 8.0 times a typical local annual household income, based on a weekly household income of $2,201 at the most recent Census. On those figures, buying a house sits well above local incomes.

Renting looks less stretched. A house rent of $650 a week would take about 30% of a typical local household's weekly income, a sizeable share, while a unit rent of $500 a week would take about 23% of that income, a moderate share. If you're renting rather than buying, those rent shares are the numbers that matter.

Everyone's financial situation is different, so it's important to consider your own circumstances when deciding which suburb is right for you.
Is Oak Park a good place to invest?
What stands out in Oak Park is the split between houses and units: over the past 12 months house values fell 2.4% while house rents rose 6.9%, and unit values rose 5.1% while unit rents rose 4.2%.

For houses the movement was stronger on the rental side — rents climbed a solid 6.9% while values recorded a modest 2.4% fall. For units, capital growth slightly outpaced rent growth, with unit values up a solid 5.1% compared with a modest 4.2% rise in unit rents.

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 Oak Park

Currently, there are 68 real estate agents working in Oak Park—but not all agents deliver the same results. The right agent could make a huge difference to your final sale price.

Only 5 out of these 68 agents sold 51.6% of all properties in Oak Park over the past year. Choosing one of these top-performing agents means tapping into proven expertise for a better sale outcome.

Real estate agents in Oak Park typically charge a commission of 1.54% to 2.94%. Negotiating a fair commission rate and the right structure can motivate your agent to work even harder, helping you sell for more and potentially saving you thousands of dollars.