First Home Buyer Guide — Mentone 2026

Mentone 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 — Mentone 2026

Property Type	Weekly Rent	Monthly	Annual
1-bedroom unit	$435/wk	$1885/mo	$22,620/yr
2-bedroom unit	$637/wk	$2760/mo	$33,124/yr
3-bedroom house	$786/wk	$3406/mo	$40,872/yr

Rents in Mentone have increased modestly compared to 2025. The vacancy rate sits at 1.3%, which is tight — expect competition for good properties.

Property Prices

Property Type	Median Price	12-Month Change
House	$1,325,233	+2.7%
Unit/Apartment	$628,243	+0.9%

Gross rental yield: 4.2% (units tend to yield higher than houses in Mentone).

Who Lives Here

Mentone attracts mostly families with some younger renters. The suburb is known for Mentone local shops, community feel, suburban lifestyle.

Average resident profile:

Age: Predominantly 30-45
Household: Young professionals and sharehouse groups
Income: Around metro median

Renting Tips for Mentone

Apply fast. Good properties in Mentone 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 Brunswick Avenue. The main strip has more foot traffic but also more noise. 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 Mentone).

Investment Outlook

Mentone is a mature market — don’t expect explosive growth, but it’s stable and liquid. The 4.2% gross yield is above the metro average.

Key factors:

Transport: Public transport options in Mentone
Schools: Limited local options — neighbouring suburbs have better schools
Infrastructure: Level crossing removal and station upgrades underway

Suburb Character & Lifestyle

Mentone runs creative, walkable, authentic. The main commercial strip along Brunswick Avenue 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 Mentone local shops, community feel, suburban lifestyle, which drives both rental demand and property values.

The housing stock is predominantly post-war homes with newer medium-density developments filling former industrial sites. For renters, the most common options are modern townhouses and villa units. For buyers, the entry point is typically a 1-bedroom apartment for investors at the lower end of the market.

Transport reality: Public transport options in Mentone. 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	$134/wk (couple)
Utilities	$158/mo (1br)
Internet	$70-90/mo (NBN)

The Bigger Picture

Mentone 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 families seeking quality schools and green space.

5-year outlook: Potential uplift from transport infrastructure projects. The fundamentals — location, transport, lifestyle amenity — are well-established.

What to watch: Transport upgrades will improve connectivity.

Nearby

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

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