Melbourne’s Most Expensive Suburbs to Rent
Melbourne’s lifestyle appeal is driving record population growth — and rising rents. Here are the six most expensive suburbs to rent a house in right now.
5 min
Melbourne is considered Australia’s most liveable city. In fact, Melbourne competes on the global stage, consistently ranking among Time Out’s top cities to live in the world and ranking fourth in 2025. Melbourne is a cultural mecca filled with arts, x, and the country’s best sporting events.
It’s the lifestyle factor that has seen Melbourne’s population grow by over 142,000 people over the 23/24 financial year, largely driven by overseas migration. With increased population comes increased demand for properties, particularly in the rental market.
Akin to Sydney’s Eastern Suburbs, Melbourne’s South Eastern suburbs, towards Bayside and the water, dominate the most expensive suburbs listed to rent across the Victorian capital.
In this article, we’ve examined the six most expensive suburbs to rent a house in Melbourne right now, according to property data analytics firm Cotality (formerly CoreLogic).
Brighton
Median purchase: $3.15m
Median rent: $1,353
Brighton is Melbourne’s most expensive suburb to rent a house, and it’s easy to see why. A blend of grand period homes and modern architectural builds line the wide, tree-filled streets. The suburb is synonymous with luxury, and rental properties—especially those close to the famed Brighton Beach and its iconic bathing boxes—are snapped up quickly. Vacancy rates sit at a tight 0.9 per cent.
The Neighbourhood
Brighton offers an enviable mix of a beachside lifestyle and convenient shopping and dining. With access to top schools like Brighton Grammar and Firbank, plus Church Street’s boutiques and the Royal Brighton Yacht Club, the Bayside suburb is the complete package for Melbourne’s high-end renters.
Malvern
Median purchase: $2.8m
Median rent: $1,313
Long known for its timeless Victorian and Edwardian homes, Malvern is a leafy inner suburb with prestige appeal. Many properties here are fully renovated period homes, featuring extensive gardens and original features that appeal to families and executives.
The Neighbourhood
Malvern boasts a refined atmosphere with a strong community feel. Glenferrie Road and High Street offer upscale cafes, boutiques, and grocers, while schools like De La Salle and St Joseph’s make the suburb particularly attractive to families.
Black Rock
Median purchase: $2.29m
Median rent: $1,253
Nestled along the Bayside coast, Black Rock has seen steady growth in both house prices and rents in recent years. Larger blocks and a quieter, more laid-back vibe than neighbouring suburbs make this a coveted spot for renters seeking both space and lifestyle.
The Neighbourhood
Black Rock is home to the picturesque Half Moon Bay and scenic cliffside walks. The suburb blends beachside charm with village convenience, offering local cafés, golf courses, and direct access to some of Melbourne’s best coastal trails.
Sandringham
Median purchase: $2.21m
Median rent: $1,199
Sandringham, next door to Black Rock, offers more of the same as its neighbouring suburb, at similar prices. Sandringham too ticks the box for laid-back waterside recreation, with the majority of homes in walking distance to the sand and charming village shops.
The Neighbourhood
This is a family-friendly suburb with a strong community vibe. Sandringham Village, with its mix of cafes, wine bars, and boutiques, sits just a short walk from the train station and beach. The area also offers excellent sporting facilities and parks. Sandringham Harbour is the local landmark, a popular destination for boating, fishing, and waterfront views from Sandringham Yacht Club.
Canterbury
Median purchase: $3.15m
Median rent: $1,179
Canterbury is the innermost Melbourne suburb on this list. It is considered one of Melbourne’s most prestigious suburbs, defined by grand family homes, generally over-the-top opulent new builds with French Provincial façades behind gated entries.
The Neighbourhood
Canterbury is anchored by the exclusive “Golden Mile” precinct and is surrounded by elite private schools such as Camberwell Grammar and Strathcona. Maling Road provides a quaint village feel, while the area’s lush green spaces complete the picture of prestige.
Hampton
Median purchase: $2.3m
Median rent: $1,171
It’s back to Bayside for the sixth and final suburb on the priciest rental areas in Melbourne. Hampton is not too dissimilar to Brighton, with a main High Street providing convenience and the beach rounding out the relaxed lifestyle found on the bay. The suburb has undergone significant gentrification, with many original homes replaced by contemporary builds.
The Neighbourhood
With a stretch of clean, family-friendly beach and the bustling Hampton Street shopping strip, Hampton has everything renters could want—from stylish cafes to gourmet grocers and boutique fitness studios. Its proximity to Brighton and Sandringham only adds to its appeal.
Melbourne’s Cheapest Suburb: Melton South
Median purchase: $460,000
Median rent: $430
On the opposite end of the spectrum, Melton South—roughly 40km west of the CBD—offers the most affordable rental market. With a median rent of under $450 a week, it’s less than a third of the weekly rent in Brighton. The suburb attracts families and first-home renters seeking value and larger land lots.
Melbourne’s Best Suburb: Toorak
Toorak is considered the Point Piper of Melbourne. Boasting even more billionaires than Sydney’s harbourside hotspot, Toorak is home to Melbourne’s most expensive houses, and reportedly Australia’s most expensive house sale if the 1860s Italianate mansion Coonac settles at over $130 million.
The suburb has some of the best educational institutions in Melbourne, as well as luxury homes on the Yarra, two train stations, and a central shopping precinct undergoing a full transformation with several mixed-use retail and residential developments. It is definitely the place to be.
Where is Melbourne’s most expensive suburb to rent a house?
As of May 2025, Brighton is Melbourne’s most expensive suburb to rent a house.
Where is Melbourne’s cheapest suburb to rent a unit?
As of May 2025, Melton South is Melbourne’s most expensive suburb to rent a house.
Where is Melbourne’s most expensive suburb to buy a house?
As of May 2025, Toorak is Melbourne’s most expensive suburb to buy a house.
Where is Melbourne’s most expensive suburb to buy a unit?
As of May 2025, Beaumaris is Melbourne’s most expensive suburb to buy a unit
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Award-winning Byron hinterland estate Amileka returns to market, blending architectural pedigree, celebrity history and lucrative luxury retreat appeal.
2 min
A Byron Bay hinterland trophy home that once starred on Love Island Australia has resurfaced for sale after making a brief appearance on the market last year.
Amileka in Federal, 24kms from the famous shores of Byron Bay, was listed for a short time in July with a guide of more than $8m, but is now asking $7m to $7.7m with Sotheby’s agent Will Phillips via an expressions of interest campaign, closing on March 12, at 5pm.
The contemporary homestead on 10ha last sold for $9.5 million during the regional post-pandemic boom in 2022. Since then, the iconic house has been earning its owners thousands of dollars a night as a glamorous short term rental.
Built in 2008, Amileka took home the Australian Institute of Architects (NSW country division) Architecture Award in the same year. The minimalist design on secluded Blackbean Lane was crafted by architect owner Sharon Fraser and her husband, Steve Esson.
Tom Lane, of the Oroton fashion family empire and his stylist wife Emma, then bought Amileka for $4 million in 2011. They sold up in 2015 for $3.5 million to the Johnson family, who offered up the compound to feature as the Love Island home for the Channel 9 dating show’s third season in 2017.
Later, in 2022, the remote residence was snapped up by Mikaela Lancaster, Spotify Australia managing director, and her husband Mark Britt, founder of video-streaming platform Iflix. Lancaster and Britt are now seeking Amileka’s next custodians.
The main home has a large sunken lounge room and a spacious dining zone seamlessly connected to the gourmet kitchen and multiple outdoor terraces. In the designer gas kitchen there are stone surfaces including a big island bench, and a discreet but large butler’s pantry.
Created for grand scale outdoor entertaining, Amileka’s alfresco options include a central courtyard, level lawns with rolling district views punctuated by ancient Black Bean, fig and pandanus trees, plus an 18m by 5m pool and a fire pit.
Internally, the house features a stately formal entry, honed concrete floors with solar hydronic heating, bespoke cabinetry, walls of windows to capture the leafy outlook, a dedicated media room, and five bedrooms.
Off the primary suite there is a large walk-in wardrobe, an ensuite with bidet and a private hot tub, plus the house has two more family-friendly bathrooms.
Additionally, the estate also has a three-bedroom caretaker’s cottage with its own swimming pool.
Famous for its legendary lush vistas, untouched rainforest and waterfalls, the Byron Hinterland is also known for picturesque sleepy villages such as Bangalow and eclectic fine dining options.
Federal is home to a small general store, the popular Doma Cafe, and is approximately a 25-minute drive from Byron Bay, 35 minutes to Ballina Airport and 50 minutes to Coolangatta International Airport.
Amileka in the Byron Bay hinterland is for sale with Sotheby’s International Realty via an expressions of interest campaign, closing on March 12, 5pm.
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