Rental yield is the income engine of a property portfolio. In Victoria’s 2026 market — with gross yields compressed by price growth in the inner ring — finding high-yield locations requires looking beyond Northcote and Brunswick to the middle ring, outer suburbs and regional cities where yields of 4.5-6.0% are still achievable. GeeVee’s yield rankings are based on REIV Q2 2025 median prices, SQM Research rental data (March 2026) and ABS vacancy rate statistics.
Top 20 Highest Rental Yield Suburbs in Victoria 2026
| Rank | Suburb | Median Unit Price | Weekly Rent | Gross Yield | Vacancy Rate |
|---|---|---|---|---|---|
| 1 | Bendigo (Golden Square) | $320,000 | $350/wk | 5.8% | 2.3% |
| 2 | Ballarat (Alfredton) | $380,000 | $380/wk | 5.2% | 2.1% |
| 3 | Clayton | $520,000 | $510/wk | 5.1% | 1.5% |
| 4 | Reservoir | $480,000 | $445/wk | 4.8% | 1.6% |
| 5 | Bundoora | $480,000 | $445/wk | 4.8% | 1.7% |
| 6 | Mill Park | $460,000 | $423/wk | 4.9% | 1.8% |
| 7 | Fawkner | $440,000 | $398/wk | 4.7% | 1.7% |
| 8 | Heidelberg Heights | $480,000 | $415/wk | 4.4% | 1.5% |
| 9 | Geelong (Belmont) | $450,000 | $415/wk | 4.8% | 1.9% |
| 10 | Watsonia | $480,000 | $428/wk | 4.6% | 1.5% |
| 11 | Coburg North | $480,000 | $420/wk | 4.3% | 1.5% |
| 12 | Preston | $520,000 | $400/wk | 4.0% | 1.4% |
| 13 | Brunswick | $580,000 | $435/wk | 3.9% | 1.3% |
| 14 | Thornbury | $560,000 | $420/wk | 3.9% | 1.2% |
| 15 | Box Hill | $600,000 | $495/wk | 4.3% | 1.3% |
FAQs — Best Rental Yield Suburbs Victoria
What rental yield should I target in Victoria in 2026?
A gross yield above 4.0% is considered strong for metropolitan Melbourne. In regional Victoria, 5.0%+ is achievable. Net yield (after property management, maintenance, rates and insurance) typically runs 1.2-1.8% below gross yield. A net yield above 3.5% in inner-Melbourne represents an excellent outcome in 2026.
Which Victorian suburbs have the highest rental yield in 2026?
For metropolitan Melbourne: Clayton (5.1% unit yield), Reservoir (4.8%), Bundoora (4.8%) and Fawkner (4.7%) lead. For regional Victoria: Bendigo Golden Square (5.8%) and Ballarat Alfredton (5.2%) offer the strongest gross yields available.
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