Preston real estate

In 2021, 45% of homes in Preston had two bedrooms or fewer, above the 25% across Victoria, while 39% had three bedrooms, below Victoria's 42%, and 15% had four or more, below the Victorian 33%. Census night found 10% of private dwellings in Preston unoccupied, below the 11% across Victoria. Townhouses, terraces or semi-detached houses made up 25% of occupied homes, above the state figure of 14%, and flats or apartments 18%, above Victoria's 12%. Separate houses, at 56%, sat below the 73% across Victoria.

In Preston, 40% of households rent, above the 29% across Victoria. Of those renting households, 72% rent from a landlord the ABS records as a real estate agent, below the state figure of 73%. The median rent was $392 a week, above the Victorian median of $370. Of all households, 30% of households were paying off a mortgage and 27% owned their home outright, each below the state (36% and 32%). Among those with a loan, the median repayment came to $2,000 a month, above Victoria's $1,859.

Median household income in Preston was $1,844 a week, above the $1,759 across Victoria. The median weekly rent equals 21% of the median income of all Preston households, renters or not, a share worked out on this page from the two medians. Across Victoria the share is also 21%, the same as Preston.

The suburb of Preston was home to 33,790 people at the 2021 Census. Their median age was 37 years, below Victoria's 38, and an average household held 2.4 people, below the 2.5 across the state. Among people aged five and over in Preston, 54% lived at the same address five years earlier, the same as the 54% across Victoria.