Rent Prices in Balaclava 2026: What Every Property Type Costs

Balaclava rents sit below the inner south-east median, making it one of the more accessible train-connected postcodes. Here are the 2026 numbers by property type and how they compare to neighbours.

Current Prices by Type

By Location Within Balaclava

Carlisle Street frontage: Slight premium for walkability. One-beds $420-$450. Hotham Street (near station): Most in-demand. Two-beds $500-$560. Inkerman Street area: Quieter, slightly cheaper. One-beds $380-$420. Brighton Road edge: Less foot traffic, more space. Two-beds $480-$530.

How Balaclava Compares

Balaclava consistently comes in $80-$120/week below St Kilda for comparable stock, with the added advantage of direct train access on the Sandringham line.

FAQ

Why is Balaclava cheaper than St Kilda? Less nightlife, less beachfront premium, smaller commercial strip. The trade-off is genuine value for money with better train access.

What is the best value in Balaclava? Period one-bedroom apartments near the station on Hotham Street. Solid buildings, $380-$420/week, walking distance to the train.

The Verdict

Balaclava offers one of the best rent-to-transport ratios in the inner south-east. You pay less than St Kilda and get direct train access. The period apartment stock provides affordable entry. Carlisle Street dining keeps food costs manageable. For renters comparing inner south-east options, Balaclava’s numbers make a strong case.

See also: rent guide, cost of living, suburb guide.

Explore More of Balaclava

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• Balaclava Cheap Eats
• Balaclava Rent Guide
• Balaclava Date Night Guide
• Balaclava Live Music

Nearby Suburbs Worth Checking

• South Yarra Suburb Guide
• Prahran Suburb Guide
• Windsor Suburb Guide
• St Kilda Suburb Guide