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Terang Real Estate

Terang real estate

At the 2021 Census, fewer than 1% of occupied homes in the town of Terang were flats or apartments, against 12% across VIC.

  • House 91
  • Townhouse or terrace 8
  • Flat or apartment fewer than 1
  • Other or not stated 1
  • Owned outright 45
  • Mortgaged 30
  • Rented 21
  • Other or not stated 4
Homes in Terang as a street of 100, from the census count of households by kind of home and tenure. Other or not stated also takes up the rounding.
Median rent$230 a weekVIC $370
Median mortgage repayment$1,040 a monthVIC $1,859
Median household income$1,108 a weekVIC $1,759

A town of separate, three-bedroom houses

Flats and apartments make up fewer than 1% of occupied homes in Terang, below 12% across VIC, and townhouses, terraces and semi-detached houses 8%, below the state's 14%. Separate houses account for 91%, above 73% statewide. These shares suggest that living in a freestanding house is more common in the town than across Victoria, with apartment buildings and attached homes a smaller part.

Of Terang's homes, 52% have three bedrooms, above 42% across VIC. Homes with four or more bedrooms are 23%, below 33%, and those with two bedrooms or fewer are 22%, below the state's 25%. On Census night in 2021, 11% of private dwellings in the town were unoccupied, the same as the 11% recorded across Victoria.

Victoria, the same way: 73 houses, 12 flats, 29 rented.

Outright owners and lower repayments

Owning outright is more common in Terang: 45% of households own their home outright, above 32% across VIC. Paying off a mortgage sits below the state at 30% of households against 36% across VIC, and renting is below too, at 21% of households compared with 29% across the state. Of the town's renting households, 44% rent from a landlord the ABS records as a real estate agent, below 73% statewide.

The median mortgage repayment in Terang is $1,040 a month, below $1,859 across VIC. Median rent is $230 a week, below the state's $370, and median household income is $1,108 a week, below $1,759. Worked out on this page from the two medians, rent equals 21% of the median weekly household income, the same as the 21% found across VIC.

An older town, with more at one address

The median age in Terang is 49 years, above 38 across VIC, which suggests an older population than the state's. The 2021 Census counted 2,020 people living in the town of Terang, and an average household held 2.2 people, below 2.5 across Victoria, pointing to fewer people sharing each home.

When the 2021 Census asked where each person lived in 2016, 59% of people aged five and over in Terang lived at the same address five years earlier. Across VIC the share is 54%, so Terang sits above the state, which suggests a larger share of people in the town were living at the same address as five years earlier.