The median house price in Carlton North in 2026 is $1,720,000, with units at $590,000 (REIV Q2 2025). Carlton North is one of Melbourne’s most tightly held inner suburbs, sitting directly north of the University of Melbourne and bordered by Fitzroy, Brunswick and Parkville. The suburb’s Victorian terrace stock, proximity to Princes Park and the Lygon Street cafe strip drive consistent demand from owner-occupiers and investors alike.
Carlton North Property Prices at a Glance
| Property Type | Median Price | Gross Yield | 5-Year Growth |
|---|---|---|---|
| House / Terrace | $1,720,000 | 2.2% | 38% |
| Unit / Apartment | $590,000 | 4.2% | 29% |
Why Are Carlton North Property Prices So High?
Carlton North commands a significant premium driven by its Victorian terrace housing stock (one of the densest concentrations in Melbourne), Princes Park frontage streets, and proximity to the University of Melbourne. The suburb is bounded by growth on all sides and has virtually no development pipeline, meaning supply is structurally constrained. School catchment to University High School adds 10-15% to prices on streets within the zone.
Carlton North Suburb Data (ABS Census 2021)
- Population: 12,800
- Median age: 33
- Median household income: $2,350/week
- Owner-occupier rate: 42%
- Renter rate: 52%
- Median weekly rent: $490
Is Carlton North a Good Investment Suburb?
GeeVee rates Carlton North 8.0/10 for investment. The suburb scores particularly high on capital growth (38% over 5 years), lifestyle demand, walkability (walk score 95), and supply constraint. Unit yields are competitive at 4.2% for investors seeking income alongside growth.
Carlton North vs Neighbouring Suburbs
| Suburb | Median House | Unit Yield | GeeVee Score |
|---|---|---|---|
| Carlton North | $1,720,000 | 4.2% | 8.0/10 |
| Fitzroy North | $1,680,000 | 3.8% | 8.1/10 |
| Brunswick East | $1,180,000 | 4.0% | 7.8/10 |
| Parkville | $1,850,000 | 3.5% | 7.9/10 |
Frequently Asked Questions
What is the median house price in Carlton North in 2026?
The median house price in Carlton North is $1,720,000 as at Q2 2025 (REIV).
Is Carlton North good for investment?
Yes. GeeVee rates Carlton North 8.0/10, driven by strong capital growth, supply constraints and high lifestyle demand.
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