Frankston
VICFrankston is a growing suburb in VIC with 37,331 residents.
- SAL code
- 20947
- SA2
- 214011371
- Population
- 37,331
Frankston, VIC had 37,331 residents at the 2021 Census, with the broader statistical area showing a 3.2% growth over the last five years. The predominant age group is 25-34 years, and the median age sits at 39. Households are most often couples without children, and those with a mortgage repay a median of $1,733 a month. Around 58.3% of homes are owner-occupied, with the largest single tenure being rented at 39.1%. Most dwellings are separate houses, making up 73.6% of the suburb's housing stock. The suburb has 72 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
Frankston, VIC at a glance
Frankston is Melbourne's bayside terminus of the Frankston rail line, ~40 km south-east of the CBD and the regional service centre for the Mornington Peninsula. The housing stock leans post-war on standard lots with a growing infill layer of townhouses around the city centre. The data tiles below cover the demographic baseline; this card adds the live market, lifestyle and council pipeline.
For homebuyers
Frankston suits people who want bay access without paying inner-Melbourne prices. The pier and foreshore anchor weekends, the Frankston Arts Centre (800-seat theatre) sits in the city centre, and Frankston Beach has won repeat Victorian Clean Beaches awards. The train station is the southern terminus of the Frankston line, with EastLink and Peninsula Link feeding the road network; Monash University's Peninsula campus is a short bus or shuttle ride away and Frankston Hospital provides regional acute care. Schools include Frankston High in the south of the LGA and Monterey Secondary College further north, with the $26.2M Frankston North Education Plan having upgraded the northern primaries (Mahogany Rise, Aldercourt) and Monterey since 2019. Houses spend ~14 days on market (Your Investment Property May 2026), so weekend inspections move quickly. In short: an affordable bayside foothold with a city centre that's actively being rezoned upwards, if you're comfortable trading commute time for beach access.
For investors
Frankston is a deep, mid-yield Melbourne fringe market with strong recent growth. Median house $835,000 against $580/week rent gives ~3.67% gross yield; units $580,000 / $490 rent ~4.48% (Your Investment Property May 2026). 12-month house growth +13.37% (units +7.11%); quarterly +3.73%. 671 house + 455 unit sales in the past 12 months — one of the deepest transaction markets on the Melbourne fringe. Days on market 14 (houses), 21 (units).
Strengths
- Strong recent capital growth (+13.37% YoY houses, Your Investment Property May 2026) — Frankston led Greater Melbourne SA3 dwelling growth at 11.3%.
- Deep transaction market (~1,126 sales/yr across houses + units) makes entry and exit straightforward.
- Tight days-on-market (14 houses / 21 units) reflects active demand at current price points.
- Unit yield ~4.48% sits above Melbourne metro average — a reasonable cashflow option for a bayside postcode.
Trade-offs
- House yield ~3.67% is moderate — capital growth has done the heavy lifting, not rent.
- Quarterly house growth has slowed to +3.73% off a strong year — momentum is decelerating, not accelerating.
- PSA C160fran (April 2025) lifted preferred heights in the city centre to 16 storeys, which over time increases unit supply and could compress unit growth and yield.
- ~40 km from Melbourne CBD by rail — commute distance limits the tenant pool to people working locally, on the Peninsula, or comfortable with a long ride.
What's coming
Frankston City Council adopted a $72.9M capital works program for 2025/26, including the Nepean Boulevard Precinct Revitalisation (over $1.2M early works), the $2.13M Frankston Arts Trail (jointly Commonwealth-funded), and completion of the Langwarrin Community Centre and Early Years Project. The Victorian Government's Planning Scheme Amendment C160fran (approved 11 April 2025) implements the Frankston Metropolitan Activity Centre Structure Plan, allowing 3-16 storey discretionary heights across the city centre. The Suburban Rail Loop will eventually link the Frankston line to other metro lines via Monash and the airport.
Bottom line
For homebuyers: an affordable bayside entry with a city centre being actively rebuilt. For investors: a deep, growth-led market with moderate house yield and a unit pipeline to watch as FMAC heights are taken up.
Population
?37,331
Suburb · Census 2021
5-Year Growth
+3.2%
3yr: +5.2% · 10yr: +8.2%
SA2 · 5yr
Household Income
$1,387/wk
Suburb · Census 2021 median
Median Age
39
Suburb · Census 2021
Socio-Economic Index
?4/10
SA2 · middle-range
Unemployment
?7.5%
SA2 · Q4 2025
Schools
15
9 primary, 3 secondary
Hospitals
?2
Within suburb
Childcare services
?28
13 long day, 8 OSHC
Parks & green space
?72
Parks, reserves
Transport stops
?203
GTFS stops
Dwelling approvals
No data for this suburb
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 — Frankston (SA2)
ABS publishes annual estimates only at SA2; Frankston suburb alone is ~37,331 (Census 2021).
Source: ABS ERP (latest release · 2025) · Census 2021. Numbers refreshed quarterly.
Growth at a Glance
Population grew from 22,188 to 25,043 over 24 years, averaging 0.5% per year.
Schools
15 in suburbSector
11 public · 4 private
Type
10 primary · 2 secondary · 3 special
Total enrolment
6,060
Avg per school
404
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 3.3%Predominantly detached houses (73.6%), mixed tenure (58.3% own or mortgage), built for families (50% are 3 bed).
Dwelling mix
Tenure
VIC 29%
Number of bedrooms
Bushfire risk
Source: VIC DTP Designated Bushfire Prone Area
As of Apr 2026
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.
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
23 zones in suburb| Code | Zone | % covered | Area |
|---|---|---|---|
| R1Z | Residential 1 ZoneResidential | 53.2% | 10.52 km² |
| SUZ1 | Special Use Zone Schedule 1Special use | 10.2% | 2.01 km² |
| PPRZ | Public Park and Recreation ZoneRecreation | 7.7% | 1.52 km² |
| HCTZ2 | HCTZ2Other | 5.5% | 1.09 km² |
| TRZ2 | TRZ2Special use | 5.0% | 0.99 km² |
| ACZ1 | Activity Centre Zone Schedule 1Business | 3.4% | 0.66 km² |
| PUZ2 | Public Use Zone Schedule 2Special use | 2.5% | 0.49 km² |
| HCTZ1 | HCTZ1Other | 2.1% | 0.41 km² |
| B1Z | Business 1 ZoneBusiness | 1.4% | 0.28 km² |
| TRZ3 | TRZ3Special use | 1.3% | 0.26 km² |
| TRZ1 | TRZ1Special use | 1.1% | 0.21 km² |
| RGZ1 | Residential Growth Zone Schedule 1Residential | 1.1% | 0.21 km² |
| C2Z | Commercial 2 ZoneBusiness | 1.0% | 0.19 km² |
| B4Z | Business 4 ZoneBusiness | 1.0% | 0.19 km² |
| GRZ1 | General Residential Zone Schedule 1Residential | 0.9% | 0.17 km² |
| PCRZ | Public Conservation and Resource ZoneEnvironmental | 0.7% | 0.14 km² |
| PUZ3 | Public Use Zone Schedule 3Special use | 0.7% | 0.14 km² |
| MUZ | Mixed Use ZoneResidential | 0.4% | 0.09 km² |
| PUZ1 | Public Use Zone Schedule 1Special use | 0.3% | 0.07 km² |
| PUZ6 | Public Use Zone Schedule 6Special use | 0.3% | 0.06 km² |
| PUZ5 | Public Use Zone Schedule 5Special use | 0.2% | 0.03 km² |
| B5Z | Business 5 ZoneBusiness | 0.1% | 0.03 km² |
| IN1Z | Industrial 1 ZoneIndustrial | 0.1% | 0.02 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.