Cheltenham (Vic.)
VICCheltenham (Vic.) is a growing suburb in VIC with 23,992 residents.
- SAL code
- 20539
- SA2
- 208031188
- Population
- 23,992
- LGA
- Kingston (Vic.)
Cheltenham (Vic.), VIC had 23,992 residents at the 2021 Census, with the broader statistical area showing a 6.1% growth over the last five years. The predominant age group is 35-44 years, and the median age sits at 40. Households are most often couples with children, and those with a mortgage repay a median of $2,200 a month. Around 70.0% of homes are owner-occupied, with the largest single tenure being owned with a mortgage at 37.2%. Most dwellings are separate houses, making up 58.7% of the suburb's housing stock. The suburb has 39 parks and reserves mapped within its boundary. Source: ABS Census 2021 and Estimated Resident Population, with amenity counts from state Open Data and OpenStreetMap.
Suburb analysis
Cheltenham (Vic.), VIC at a glance
Cheltenham is a bayside middle-ring Melbourne suburb ~18 km south-east of the CBD, split between the City of Kingston (east) and the City of Bayside (west). Mid-century houses on generous lots dominate the established streets, with newer townhouses and apartment infill clustering around Westfield Southland and the Charman Road shopping strip. The data tiles below cover the demographic baseline; this card adds the live market, lifestyle and council pipeline.
For homebuyers
Cheltenham works for buyers who want bay proximity without paying Brighton or Sandringham prices. Two train stations sit inside the suburb — Cheltenham (open since 1881) and Southland (added 2017) on the Frankston line — putting Flinders Street ~30 minutes door-to-door. Westfield Southland (~400 stores, 16-screen Village cinema) and the Charman Road village strip handle day-to-day shopping; DFO Moorabbin is a short drive north. Mentone Beach is ~2 km west and the Kingston Heath Reserve sits to the east. Notable schools nearby include Mentone Grammar, Mentone Girls' Grammar and Kilbreda College. Housing stock ranges from preserved post-war family homes on big lots to new low-rise apartments around the station precincts; The Village Cheltenham (172 apartments + retail) opened in 2018 and the Kingston Centre completed a $46M aged-care upgrade. In short: a connected bayside suburb with strong amenity, good schools and ongoing infill — pricier than the south-east average but cheaper than the Bayside core.
For investors
Cheltenham is a Melbourne capital-growth play with modest yield. Median house $1,290,000 against $750/week rent gives a 3.15% gross yield; units $700,000 / $570/wk for 4.51% (Your Investment Property, Jan 2026). 12-month house growth +5.26%, quarterly +0.78%; units flat at -0.64% YoY. Days-on-market 26 (houses) / 27 (units). Deep transaction market at 296 house + 267 unit sales in the past 12 months. Vacancy ~0.83%.
Strengths
- Two-station suburb on the Frankston line plus Westfield Southland anchor — leasing demand from owner-occupiers priced out of Brighton + Sandringham (median house $1.29M, Jan 2026).
- Tight vacancy (~0.83%) and moderate days-on-market (26 houses) signal balanced leasing conditions.
- Deep liquidity for the price band — 563 combined house + unit sales in 12 months gives entry/exit flexibility.
- Suburban Rail Loop station confirmed for Cheltenham — long-dated catalyst for future land values within walking distance.
Trade-offs
- Yield is thin — 3.15% gross on houses leaves limited cashflow buffer at current rates.
- Unit segment is soft: -0.64% capital growth over 12 months (Your Investment Property, Jan 2026), and the precinct plan flags 4-7-storey apartment infill that could keep unit supply elevated.
- SRL value-capture levy applies to redevelopment within the precinct — factor into feasibility for any development play.
- Entry price is high (~$1.29M house median) — borrowing capacity is the gate for most retail investors.
What's coming
The Suburban Rail Loop East station at Cheltenham is the headline — draft structure plans (consulted Mar-Apr 2025) propose up to 18-storey towers near the station and 4-7-storey infill across the surrounding precinct, contributing to ~70,000 new homes across SRL East by 2035 when trains start running. Council's 2025/26 Budget funds Mordi Aquatic Centre ($10M grant), Namatjira and Le Page Park masterplans, and notes Cheltenham, Highett and Moorabbin as priority growth precincts.
Bottom line
For homebuyers: a well-connected bayside suburb with strong amenity, good schools and ongoing infill. For investors: a capital-growth-led play with thin yield and meaningful future supply tied to the SRL precinct.
Population
?23,992
Suburb · Census 2021
5-Year Growth
+6.1%
3yr: +7.3% · 10yr: +14.6%
SA2 · 5yr
Household Income
$1,919/wk
Suburb · Census 2021 median
Median Age
40
Suburb · Census 2021
Socio-Economic Index
?7/10
SA2 · middle-range
Unemployment
?6.0%
SA2 · Q4 2025
Schools
6
5 primary, 1 secondary
Hospitals
?1
Within suburb
Childcare services
?22
13 long day, 6 OSHC, 1 family
Parks & green space
?39
Parks, reserves
Transport stops
?107
GTFS stops
Dwelling approvals
?33
Kingston (Vic.) · Feb 2026
Median Weekly Rent
Based on rental bond lodgements recorded by the state government.
Median House Sale Price
Source: Valuer-General Victoria (suburb-level quarterly medians).
→ Calculate stamp duty on this suburb's median price→ Estimate mortgage repayments→ Calculate rental yield (price + median rent)
Safety & Crime
2025 Q4Reported incidents from VIC police. Offence rates may not reflect all crime.
Population over time — Highett (East) - Cheltenham (SA2)
ABS publishes annual estimates only at SA2; Cheltenham (Vic.) suburb alone is ~23,992 (Census 2021).
Source: ABS ERP (latest release · 2025) · Census 2021. Numbers refreshed quarterly.
Growth at a Glance
Population grew from 19,727 to 26,320 over 24 years, averaging 1.2% per year.
Schools
6 in suburbSector
5 public · 1 private
Type
5 primary · 1 secondary
Total enrolment
2,233
Avg per school
372
Government school catchment
Catchment data is not yet available for VIC.
Source when available: Victorian Department of Education / Vicmap School Zones.
Profile
Census snapshot
Housing
Public housing 1.2%Predominantly detached houses (58.7%), owner-occupied (70.0%), built for families (43% are 3 bed).
Dwelling mix
Tenure
VIC 29%
Number of bedrooms
Bushfire risk
This suburb falls outside every bushfire polygon mapped by the relevant authority. Always confirm at the property address — local conditions and unmapped overlays can still apply.
Overlap is the percentage of the suburb's land area inside the mapped bushfire polygons. Always verify the exact property address with the relevant authority before making decisions. Source when available: Vicmap Planning — Bushfire Prone Area + Vicmap flood overlays.
Flood risk
Source: VIC DTP Vicmap Planning Overlay (flood codes)
As of Apr 2026
Overlap is the percentage of the suburb's land area inside the mapped flood polygons. Always verify the exact property address with the relevant authority before making decisions.
Planning zones
22 zones in suburb| Code | Zone | % covered | Area |
|---|---|---|---|
| NRZ7 | Neighbourhood Residential Zone Schedule 7Residential | 31.0% | 3.26 km² |
| PPRZ | Public Park and Recreation ZoneRecreation | 11.1% | 1.17 km² |
| IN1Z | Industrial 1 ZoneIndustrial | 10.4% | 1.10 km² |
| GRZ5 | General Residential Zone Schedule 5Residential | 9.6% | 1.01 km² |
| C2Z | Commercial 2 ZoneBusiness | 6.8% | 0.71 km² |
| GRZ1 | General Residential Zone Schedule 1Residential | 6.5% | 0.68 km² |
| GRZ8 | General Residential Zone Schedule 8Residential | 5.6% | 0.58 km² |
| RGZ3 | Residential Growth Zone Schedule 3Residential | 3.3% | 0.34 km² |
| TRZ2 | TRZ2Special use | 2.9% | 0.30 km² |
| C1Z | Commercial 1 ZoneBusiness | 2.3% | 0.24 km² |
| PUZ5 | Public Use Zone Schedule 5Special use | 2.0% | 0.21 km² |
| ACZ1 | Activity Centre Zone Schedule 1Business | 2.0% | 0.21 km² |
| NRZ3 | Neighbourhood Residential Zone Schedule 3Residential | 1.6% | 0.17 km² |
| PUZ2 | Public Use Zone Schedule 2Special use | 1.4% | 0.15 km² |
| TRZ3 | TRZ3Special use | 1.0% | 0.11 km² |
| PUZ1 | Public Use Zone Schedule 1Special use | 0.6% | 0.07 km² |
| TRZ1 | TRZ1Special use | 0.5% | 0.05 km² |
| SUZ1 | Special Use Zone Schedule 1Special use | 0.4% | 0.05 km² |
| GRZ4 | General Residential Zone Schedule 4Residential | 0.4% | 0.04 km² |
| MUZ | Mixed Use ZoneResidential | 0.3% | 0.03 km² |
| GRZ14 | General Residential Zone Schedule 14Residential | 0.2% | 0.02 km² |
| GRZ15 | General Residential Zone Schedule 15Residential | 0.1% | 0.01 km² |
Source: VIC DTP Vicmap Planning Zones (ZONE_VIC/2026-04-29/08783d2926383881) · As of Apr 2026. Zone boundaries are amended periodically; verify the exact property with the relevant council before relying on permitted use.