The rental yield in Carlton North in 2026 is 2.2% for houses and 4.2% for units (REIV Q2 2025 / ABS 2021). Carlton North’s rental market is driven by its proximity to the University of Melbourne, Princes Park and the Lygon Street cafe strip — creating persistent demand from students, academics and professionals who pay premium rents for inner-city lifestyle access.
Carlton North Rental Yield by Property Type
| Property Type | Median Price | Weekly Rent | Gross Yield |
|---|---|---|---|
| House / Terrace | $1,720,000 | $730/week | 2.2% |
| Unit / Apartment | $590,000 | $490/week | 4.2% |
What Drives Carlton North’s Rental Market?
Carlton North has a renter rate of 52% (ABS 2021), split between University of Melbourne students and professionals. Unit demand is particularly strong — one and two-bedroom units within walking distance of the University of Melbourne and Princes Park achieve consistently low vacancy rates below 1.5%. The school catchment premium from University High School also supports family rental demand on streets within the zone.
Carlton North vs Comparable Suburbs — Rental Yield
| Suburb | Unit Yield | House Yield | GeeVee Score |
|---|---|---|---|
| Carlton North | 4.2% | 2.2% | 8.0/10 |
| Fitzroy North | 3.8% | 2.4% | 8.1/10 |
| Brunswick East | 4.0% | 2.8% | 7.8/10 |
| Northcote | 3.5% | 1.4% | 8.2/10 |
Frequently Asked Questions
What is the rental yield in Carlton North?
Rental yield in Carlton North is 2.2% for houses and 4.2% for units as at Q2 2025.
What is the median weekly rent in Carlton North?
Median weekly rent is approximately $490 for units and $730 for houses.
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