📈 Suburbs With the Fastest-Growing Incomes in Victoria
Incomes across Australia rose sharply between the 2019-20 and 2023-24 financial years, driven by wage growth, inflation and a tight labour market. But the gains were far from even — some postcodes saw median taxable incomes climb by more than 40%, while others barely moved. This ranking lists the 25 postcodes in Victoria where median taxable income grew the fastest, using the ATO's Taxation Statistics 2023-24 (Individuals — Table 8).
Sorrento leads with median taxable income rising 49.3% — from $40,816 in 2019-20 to $60,926 in 2023-24. Across the top 25, the midpoint suburb still grew 30.0%. Fast growth tends to cluster in sea-change and tree-change areas that attracted higher earners over the period, resource-town postcodes riding a commodities cycle, and outer-metro suburbs where new higher-income households moved in.
ATO figures are reported by postcode and cover every individual who lodged a tax return, so they describe the whole postcode rather than a single suburb. Only postcodes with a representative suburb of at least 200 residents are included, and the ATO suppresses any postcode with fewer than 200 lodgments. Taxable income differs from ABS Census household and personal income, which can rank areas differently.
Sorrento VIC 3943
Sorrento is a celebrated coastal town on the tip of the Mornington Peninsula in Victoria, situated approximately 103 kilometres south-west of Melbourne's CBD within the Shire of Mornington Peninsula. With a population of 2,013 and a median age of 64, the town is a haven for retirees and sea-changers who prize its stunning dual beaches, historic limestone architecture, and unhurried coastal lifestyle. The median household income and high property values reflect an affluent, established community predominantly made up of long-term owner-occupiers.
Mount Dandenong VIC 3767
Mount Dandenong is a picturesque township nestled in the Dandenong Ranges, approximately 44 kilometres east of the Melbourne CBD in the Shire of Yarra Ranges. With a small population of around 1,271 and a median age of 45, it has the character of a quiet mountain village. Sitting at an elevation of nearly 600 metres, it enjoys a cool, wet climate quite distinct from suburban Melbourne. The area was established in 1893 and retains much of its historic charm.
Nathalia VIC 3638
Nathalia is a small rural town in northern Victoria, located on the banks of Broken Creek within the Shire of Moira. Situated 217 km north of Melbourne and 42 km from the regional centre of Shepparton, the town has a population of around 2,000. Established in 1875, Nathalia serves as a service centre for the surrounding agricultural district, which is known for dairy farming and mixed agriculture.
Panton Hill VIC 3759
Panton Hill is a semi-rural urban locality in Melbourne's green wedge, situated approximately 40 kilometres north-east of the CBD within Nillumbik Shire. Covering 21 square kilometres at an elevation of 165 metres in the foothills of the Yarra Ranges, the suburb has a population of 1,063 residents with a mature demographic profile — median age of 48 — suggesting a community of established families and long-term residents who have made this tranquil bushland setting their home. Median household income of around $2,367 per week reflects the comfortable mid-range economic character of the area.
Tawonga South VIC 3698
Tawonga South is an elevated rural locality in Victoria's Alpine Shire, nestled in the Upper Kiewa Valley at approximately 673 metres above sea level, roughly 370 kilometres north-east of Melbourne and adjacent to the township of Mount Beauty. With a population of 1,012 spread across 48.8 square kilometres, it occupies a broad, scenic valley surrounded by the Australian Alps, offering a landscape of farms, lifestyle blocks, and mountain vistas that attracts those seeking an alpine way of life. The median age of 50 and a median weekly household income of $1,392 reflect a community of established families, semi-retirees, and outdoor enthusiasts who have chosen the mountains over the city.
Gordon VIC 3345
Gordon is a small township located approximately 75 kilometres north-west of Melbourne CBD, within the Moorabool Shire. The 2021 Census recorded a population of around 1,393, representing strong growth of 21% from 2016. Situated between Ballan and Ballarat along the Western Freeway corridor, Gordon has attracted tree-changers and commuters seeking a rural lifestyle within reach of Melbourne. The town sits at an elevation of around 470 metres in the foothills of the Central Highlands.
Avenel VIC 3664
Avenel is a small rural town in north-central Victoria, located approximately 129 km north of Melbourne and 21 km north of Seymour, within the Shire of Strathbogie. At the 2021 census the population was 1,112, reflecting steady growth from 552 in 2001 as the town has attracted tree-changers and commuters priced out of Melbourne's outer suburbs. Avenel sits on the Hume Freeway corridor, one of Australia's most significant transport routes linking Melbourne to Sydney, giving the town excellent freeway access despite its rural character. The town is historically noted as the birthplace of Ned Kelly, born here in 1854.
Yarrambat VIC 3091
Yarrambat is a semi-rural suburb located 27 kilometres northeast of the Melbourne CBD in the Shire of Nillumbik, known as the Green Wedge shire. With approximately 1,600 residents across 15 square kilometres, it offers a spacious bushland lifestyle on the urban fringe. The suburb is characterised by large blocks, native vegetation, and a strong sense of community.
Eagle Point VIC 3878
Eagle Point is a peaceful lakeside locality on Victoria's Gippsland Lakes system, situated approximately 20 kilometres south of Bairnsdale within the East Gippsland Shire. With a population of 1,306 and a median age of 59, the community skews older, drawing retirees and sea-changers attracted by the quiet, natural surrounds and affordable lifestyle. Dwellings are predominantly detached houses on generous blocks, reflecting the relaxed coastal-rural character of the area.
Clayton VIC 3168
Clayton is a unique suburb dominated by Monash University and its surrounding medical precinct, home to 19,000 residents in Monash municipality, 18 kilometres from Melbourne's CBD. The Cranbourne and Pakenham lines serve Clayton station, while the university, Monash Medical Centre, and research institutes make it a major employment hub. Student accommodation and rental properties define much of the housing.
St Andrews VIC 3761
St Andrews is a semi-rural township on Melbourne's north-eastern fringe in Nillumbik Shire, about 45-50 km from the CBD. The 2021 Census population is 1,186, with a low-density community profile and strong local identity. The town has historical links to the Victorian gold era and is known for its long-running alternative market culture. Its character blends bushland setting, creative community life and village-scale amenities.
Cobden VIC 3266
Cobden is a small town in south-west Victoria located approximately 200 kilometres from Melbourne in the Corangamite Shire. With a population of around 1,800 residents, it serves as a regional hub for the surrounding agricultural district, named in honour of English statesman Richard Cobden. The town was established in the 1840s and sits at the heart of one of Victoria's most productive dairy farming regions.
Blairgowrie VIC 3942
Blairgowrie is a coastal suburb on the Mornington Peninsula, Victoria, situated approximately 97 kilometres south of the Melbourne CBD at the narrowing tip of the Peninsula. Nestled between the calm waters of Port Phillip Bay to the north and the rugged surf beach of the Southern Ocean coastline to the south, Blairgowrie covers around 6.3 square kilometres and has a resident population of about 2,786. The suburb forms part of a string of seaside communities — including Rye to the east and Portsea to the west — that together define the Peninsula's famous 'end of the road' holiday atmosphere. It falls within Mornington Peninsula Shire and is classified as part of the Greater Melbourne statistical area.
Timboon VIC 3268
Timboon is a rural town in south-west Victoria, situated approximately 55 kilometres east of Warrnambool and 75 kilometres south of Colac, within the Corangamite Shire. With a population of 1,250, the town serves as a local service centre for the surrounding dairy farming district, spanning 81.7 square kilometres of rich coastal hinterland. The median age of 47 reflects an older, established community, with incomes at the lower end of the scale — the median household income of around $1,237 per week is consistent with rural agricultural areas of regional Victoria.
Nichols Point VIC 3501
Nichols Point is a rural township in the Sunraysia region of north-western Victoria, situated approximately 4 kilometres south of Mildura and 540 kilometres from Melbourne, within the Rural City of Mildura. With a population of 1,723 and a median age of 40, the community has a strong family character anchored by a local primary school with over 300 students. The suburb covers a broad 23.8 square kilometres of flat Murray-Darling Basin terrain, and residents predominantly have Anglo-Australian and Italian heritage, reflecting the region's long history of fruit growing and viticulture.
Lancefield VIC 3435
Lancefield is a picturesque historic township set in the rolling hills of the Macedon Ranges, approximately 65 kilometres north of Melbourne CBD within the Macedon Ranges Shire Council area. The town has a population of 2,743 and a median age of 41, attracting a mix of established families, tree-changers, and professionals seeking a quieter lifestyle within reach of the city. Median household income of ,838 per week reflects the area's appeal to owner-occupying households, while the streetscape features a blend of heritage Victorian architecture and modern residential developments.
Reservoir VIC 3073
Reservoir is Melbourne's multicultural northern heartland, a diverse suburb of over 51,000 residents located 12 kilometres from the CBD in Darebin. The South Morang train line provides excellent city access, and the suburb is experiencing significant gentrification while maintaining its working-class character. Streets blend post-war homes with newer developments and an increasing number of cafes and bars.
Oakleigh South VIC 3167
Oakleigh South is a diverse suburban neighbourhood in Melbourne's southeast, located approximately 18 kilometres from the CBD within the City of Kingston. With a population of nearly 10,000, it has a median age of 40 and is one of Melbourne's most multicultural suburbs, with over 45% of residents born overseas. The Greek, Chinese, and Indian communities are particularly prominent, giving the area a rich cultural fabric.
Glenroy VIC 3046
Glenroy is a diverse working suburb of 23,800 in Moreland, located 12 kilometres north of Melbourne's CBD. The Craigieburn line provides city access via Glenroy and Jacana stations, while the suburb offers affordable housing in the inner-north region. The community is notably multicultural, with Indian and Arabic-speaking populations joining established Italian and Greek communities.
Rushworth VIC 3612
Rushworth is a historic gold rush township in northern Victoria's Campaspe Shire, located approximately 160 kilometres north of Melbourne and 50 kilometres south-east of Echuca along the Midland Highway. With a population of 1,411, the community is predominantly long-established and older in character, with a median age of 56 — among the higher values in regional Victoria — and a majority of residents with English, Australian, and Scottish ancestry. Housing costs are very affordable, with median weekly rent of just $190 and a median monthly mortgage of $997, making it accessible for retirees and those seeking a low-cost regional lifestyle.
Moorabbin VIC 3189
Moorabbin is an established suburban locality in Melbourne's south-east, approximately 14 kilometres from the CBD within the City of Kingston. With a population of 6,287 and a median age of 39, the suburb attracts a broad mix of families and professionals, with a median household income of around $2,031 per week — above the Melbourne average. The area spans 4.6 square kilometres of predominantly residential land, featuring a mix of post-war homes and newer medium-density developments.
Cohuna VIC 3568
Cohuna is a small rural town located 274 kilometres north-west of Melbourne along the Murray Valley Highway in northern Victoria. The town has a population of approximately 2,415 and sits within the Shire of Gannawarra. Established during the 1870s as a farming settlement, Cohuna developed around the irrigation channels of the Gunbower Creek system.
Mortlake VIC 3272
Mortlake is a small rural town in the Western District of Victoria, located approximately 200 kilometres west of Melbourne in the Shire of Moyne. With a population of around 1,477 and a median age of 49, it is an established agricultural community set on the volcanic plains near Mount Shadwell. The town has a rich pastoral heritage dating back to the 1840s, with predominantly Australian and English ancestry among its residents.
Red Cliffs VIC 3496
Red Cliffs is a small township in north-western Victoria, located approximately 15 kilometres south of Mildura within the Mildura Rural City. With a population of around 5,300, it serves as a key service centre for the surrounding irrigated farming district. The town has a balanced demographic with families making up a significant proportion of households and a strong sense of community.
Donald VIC 3480
Donald is a small country town and the administrative centre of the Buloke Shire in north-western Victoria, situated approximately 320 kilometres north-west of Melbourne along the Sunraysia Highway. With a population of 1,472 and a median age of 52, the community is predominantly older, reflecting the demographic trends common to many rural Victorian towns. Housing is highly affordable, with median rents of just $180 per week and median household incomes of $1,044 per week, making Donald one of the more accessible towns in the region.
📊 Methodology
Rankings use the growth in median taxable income between the 2019-20 and 2023-24 financial years, from the ATO Taxation Statistics 2023-24 (Individuals — Table 8, median and average taxable income by postcode). ATO income is reported by postcode, so figures are de-duplicated to one entry per postcode, using the highest-population suburb in Victoria as the representative (linked above). Only postcodes with a representative suburb of at least 200 residents are included, and the ATO suppresses any postcode with fewer than 200 lodgments. Ties are broken by population (larger first). Taxable income differs from ABS Census household and personal income.