Bayside south-east Melbourne · gateway to the Mornington Peninsula
Frankston, VIC 3199
Frankston City LGA · 40km south-east of Melbourne CBD · the LGA's namesake, anchored by the Frankston Waterfront, Bayside Shopping Centre, and a major train terminus.
FrankstonPopulation 37,331 (2021 census band)40km to Melbourne CBD
Overview
Frankston is the largest urban centre in the LGA of the same name. Population of 37,331 with 20,339 dwellings across roughly 50 square kilometres of beach-side land. The suburb mixes residential, commercial and recreational precincts. Frankston Waterfront, George Pentland Botanic Gardens, and the Bayside Shopping Centre are the headline amenities. The Frankston train station terminates the rail line out of Melbourne, with regular metropolitan services. Local employment is broad-based across health, retail, education, and tourism.
Property market snapshot
House and unit segments side-by-side. Numbers from the HtAG suburb report, refreshed 24 June 2026.
House · median
$962K Typical detached house in Frankston
House · rent
$574/wk Median weekly rent, gross yield 3.10%
House · gross yield
3.10% Sourced direct from the HtAG snapshot
Unit · median
$531K Typical apartment or townhouse
Unit · rent
$471/wk Median weekly rent, gross yield 4.60%
Unit · gross yield
4.60% Sourced direct from the HtAG snapshot
Segment
Median price
Median rent
Gross yield
Houses
$962K
$574/wk
3.10%
Units / townhouses
$531K
$471/wk
4.60%
Sourced from our data partners. Full report available in the tracker.
Frankston: key figures and local context
Largest urban centre and headline market in the Frankston LGA, supporting deep liquidity across both house and unit segments.
Bayside Mornington Peninsula gateway. Coastal lifestyle pull continues to draw both owner-occupiers and tenants from inner Melbourne.
Major rail terminus and arterial road infrastructure deliver Melbourne CBD access without inner-city pricing.
Yield split between house (3.10%) and unit (4.60%) is shown so each segment can be modelled separately.
Diverse local employment base across health (Frankston Hospital), retail (Bayside Shopping Centre), education (Chisholm Institute, Monash Peninsula campus), and tourism.
Risks & watchpoints
House gross yield is 3.10%. Your accountant confirms how negative gearing rules apply after 1 July 2027.
Coastal flooding + bushfire overlays apply in some pockets. Always verify property-specific risk before exchange.
Frankston has a wide socio-economic spread, and street-by-street selection matters more here than in homogeneous growth corridors.
Broader catchment
Frankston sits within Frankston. For the full LGA-level picture, infrastructure pipeline, and other suburbs in the same catchment, open the Frankston snapshot.