Highett Rental Market — 2026 Guide

Highett sits in Melbourne’s bayside — a suburb that runs creative, walkable, authentic. Here’s what the numbers and the locals actually say about the property and rental situation.

Rental Prices — Highett 2026

Property Type	Weekly Rent	Monthly	Annual
1-bedroom unit	$461/wk	$1997/mo	$23,972/yr
2-bedroom unit	$652/wk	$2825/mo	$33,904/yr
3-bedroom house	$808/wk	$3501/mo	$42,016/yr

Rents in Highett have held relatively steady compared to 2025. The vacancy rate sits at 2.1%, which is moderate — you have some negotiating room.

Property Prices

Property Type	Median Price	12-Month Change
House	$1,271,660	+4.2%
Unit/Apartment	$586,056	+1.8%

Gross rental yield: 3.3% (units tend to yield higher than houses in Highett).

Who Lives Here

Highett attracts a mix of young professionals and established families. The suburb is known for Highett local shops, community feel, suburban lifestyle.

Average resident profile:

Age: Predominantly 25-35
Household: Mix of singles, couples, and families
Income: Around metro median

Renting Tips for Highett

Apply fast. Good properties in Highett get 20-40 applications. Have your documents ready: 100 points of ID, recent payslips, rental history, references.
Inspect in person. Photos lie. Check water pressure, phone reception, natural light at the time of day you’d actually be home. Open the cupboards. Flush the toilet.
Look beyond Lygon Grove. The main strip commands 10-15% higher rents. One or two blocks back, you get the same proximity for less money.
Know your rights. Victorian tenancy law caps rent increases to once per 12 months. Your landlord must give 60 days notice. Urgent repairs must be addressed within 24 hours (blocked toilet, no hot water, gas leak).
Budget beyond rent. Factor in: utilities ($150-250/month), internet ($70-90/month), contents insurance ($15-25/month), and transport (Public transport options in Highett).

Investment Outlook

Highett is a mature market — don’t expect explosive growth, but it’s stable and liquid. The 3.3% gross yield is below the metro average — you’re buying for capital growth here.

Key factors:

Transport: Public transport options in Highett
Schools: Several well-regarded public and private options
Infrastructure: Shopping centre expansion in planning phase

Suburb Character & Lifestyle

Highett runs creative, walkable, authentic. The main commercial strip along Lygon Grove is where most of the daily life happens — cafes, restaurants, and essential services within walking distance for those who live close. The neighbourhood is known for Highett local shops, community feel, suburban lifestyle, which drives both rental demand and property values.

The housing stock is a mix of Victorian-era terraces, Edwardian cottages, and modern apartment developments. For renters, the most common options are 1-2 bedroom apartments in newer builds along the main road. For buyers, the entry point is typically a 2-bedroom terrace needing renovation at the lower end of the market.

Transport reality: Public transport options in Highett. The commute to the CBD is realistic for daily workers, and most residents report using a combination of public transport, cycling, and driving depending on the trip.

Cost of Living Snapshot

Expense	Typical Cost
Coffee	$4.50-5.50
Brunch	$19-28
Dinner out	$28-45 pp
Pint of beer	$12-14
Cocktail	$19-25
Groceries	$108/wk (couple)
Utilities	$216/mo (1br)
Internet	$70-90/mo (NBN)

The Bigger Picture

Highett has seen consistent demand from owner-occupiers and investors alike, driven by lifestyle amenity and transport links. The suburb is creative, walkable, authentic, which attracts investors looking for reliable yield in an improving area.

5-year outlook: Above-average growth potential due to demand-supply imbalance. The fundamentals — location, transport, lifestyle amenity — are improving.

What to watch: School zone redistricting in 2027 may affect demand.

Nearby

Last updated: March 2026. Data sources: Domain, REA Group, SQM Research.

Keep Exploring

More in this area:

Useful tools: