Box Hill vs FrankstonTwo Melbourne suburbs compared for a home loan
Box Hill (VIC 3128) is approximately 14 km east of the Melbourne CBD. Frankston (VIC 3199) is approximately 40 km south-east of the Melbourne CBD. At the 2021 Census, Box Hill had 14,353 residents with a median age of 33, and Frankston had 37,331 residents with a median age of 39.
The most common occupied dwelling was flats and apartments in Box Hill and separate houses in Frankston. Flats and apartments made up 53% of occupied dwellings in Box Hill and 6% in Frankston, while 59% of Box Hill households rented compared with 40% in Frankston. These differences matter for finance, because lenders assess apartments, strata buildings and houses on land differently.
Both suburbs are in the same state, so transfer duty is calculated on the same scale and the difference in upfront cost comes from the purchase price. The panel below applies that scale, and an estimate of lenders mortgage insurance, to the prices you enter.
VIC 3128 · Eastern Melbourne
Box Hill
Box Hill is a high-density centre in Melbourne's east with a rail, tram and bus interchange, major hospitals, a TAFE and a new rail loop station underway.
City of Whitehorse. Approximately 14 km east of the Melbourne CBD.
Read the full Box Hill guideVIC 3199 · South East Melbourne
Frankston
Frankston is a bayside activity centre in south-east Melbourne with a beach, major hospital and rail terminus, and a mix of houses, units and apartments.
City of Frankston. Approximately 40 km south-east of the Melbourne CBD.
Read the full Frankston guide
What buying in Box Hill and Frankston would mean for the loan
The difference between two suburbs is usually a difference in price, and price drives the deposit, the transfer duty, any lenders mortgage insurance and the repayment. Enter the prices you are seeing and the panel works out each of those for Box Hill and Frankston.
Your prices and deposit
Enter the price you are seeing in each suburb. BorrowWise does not quote prices, so the comparison uses yours.
- Loan amount
- $1,666,158
- Loan to value ratio
- 94.1%
- Transfer duty, Victoria
- $93,445
- Lenders mortgage insurance
- $67,158
- Upfront cash needed
- $196,445
- Loan amount
- $740,086
- Loan to value ratio
- 87.9%
- Transfer duty, Victoria
- $44,690
- Lenders mortgage insurance
- $13,086
- Upfront cash needed
- $147,690
- At these prices, Box Hill costs $5,612 more a month than Frankston and needs $48,755 more cash upfront.
Warning: The interest rate used here is an example only. It is not a comparison rate and is not a rate offered by any lender, and it does not include fees and charges. Different rates, terms, fees or loan amounts will give a different result.
Estimates only. Repayments assume a principal and interest loan at a constant rate, which is an assumption and not a current market rate. Transfer duty is indicative for established homes, first home buyer relief depends on eligibility, and upfront cash includes an allowance of $3,000 for conveyancing and inspections. Lenders mortgage insurance is an estimate and is added to the loan. A lender makes its own assessment.
Box Hill and Frankston: Census profile compared
Figures are from the 2021 Census, so rents, repayments and incomes have moved since. They are most useful for comparing one suburb with another and with Australia as a whole.
| Measure | Box Hill | Frankston |
|---|---|---|
| People and households | ||
| Residents | 14,353 | 37,331 |
| Median ageAustralia 38 | 33 | 39 |
| Average household sizeAustralia 2.5 | 2.2 | 2.2 |
| Median household income, weeklyAustralia $1,746 | $1,267 | $1,387 |
| Housing costs at the 2021 Census | ||
| Median rent, weeklyAustralia $375 | $381 | $342 |
| Median mortgage repayment, monthlyAustralia $1,863 | $1,950 | $1,733 |
| Who owns and who rents | ||
| Households rentingAustralia 31% | 59% | 40% |
| Owned with a mortgageAustralia 35% | 18% | 33% |
| Owned outrightAustralia 31% | 20% | 26% |
| Types of home | ||
| Separate housesAustralia 72% | 22% | 73% |
| Townhouses, terraces and semi-detachedAustralia 13% | 25% | 20% |
| Flats and apartmentsAustralia 14% | 53% | 6% |
| Homes with two bedrooms or fewer | 69% | 28% |
| Homes with four bedrooms or more | 12% | 21% |
| Dwellings unoccupied on Census night | 18% | 8% |
Source: Australian Bureau of Statistics, 2021 Census (CC BY 4.0). Tenure shares exclude households that did not state their tenure. Dwelling shares are of occupied private dwellings.
Home loan considerations in Box Hill and Frankston
Lenders treat houses on land, townhouses and apartments differently, and some apply extra conditions to small apartments, high-density buildings or particular postcodes. These are the points each guide raises.
Box Hill
- First home buyers
- Investors
- Downsizers
- Some lenders restrict high-rise apartment lending by postcode, building or loan-to-value ratio, which is directly relevant in Box Hill.
- Minimum floor area rules can exclude studios and small one-bedroom units from standard lending and mortgage insurance.
- Off-the-plan contract prices may not be supported by the valuation at completion, so a cash buffer may be needed.
- Student-oriented and serviced apartments are accepted by fewer lenders and their rental income is assessed conservatively.
- Owners corporation levies, cladding and defect matters differ between towers and can affect valuation and serviceability.
Frankston
- First home buyers
- Investors
- Upgraders
- Downsizers
- Small unit developments still involve an owners corporation, and evidence of common property insurance may be required before settlement.
- Coastal exposure can accelerate building deterioration, which may influence valuation and maintenance budgets.
- Planning overlays on sloping land near Olivers Hill or low-lying land near Kananook Creek can affect insurance, building approvals and renovation finance.
- Lenders may restrict loan-to-value ratios for small apartments or buildings with a high concentration of investor-owned lots.
- Off-the-plan apartments are valued at completion, so the valuation may differ from the contract price agreed earlier.
- Unit valuations can vary with the age and density of the development, so buyers may wish to allow a margin in deposit planning.
Housing stock in Box Hill and Frankston compared
Box Hill
- High-rise apartments
- Towers around the station and Whitehorse Road, mostly one-bedroom and two-bedroom units with a high share of investor owners.
- Villa units and townhouses
- Older single-storey strata units and newer townhouse developments on former house blocks.
- Detached houses
- Edwardian, interwar and post-war homes in the surrounding streets, some under heritage controls and many on sites with redevelopment interest.
Frankston
- Post-war detached houses
- Weatherboard and brick veneer homes on generous allotments, varying from original condition to fully renovated.
- Units and townhouses
- Older villa units and newer two-storey townhouses on subdivided blocks, usually within a small owners corporation.
- Apartments
- Low-rise and mid-rise buildings in the activity centre and near the foreshore, a small but growing segment.
- Bay-view homes
- Houses of varied age and design on elevated or sloping sites towards Olivers Hill.
Official sale price and rent figures for Box Hill and Frankston
Only figures published free of charge by a government agency are shown. Where none is published the space is left empty rather than filled with an estimate. Each guide charts the full series.
Box Hill
- Median house price, 2025
- $1,699,000
- Median unit price, 2025
- $547,000
- Median weekly rent, 3 bedroom house, 2025 Q3
- $650
- Median weekly rent, 2 bedroom flat, 2025 Q3
- $610
Source: Valuer-General Victoria (Department of Transport and Planning), State of Victoria; Victorian Department of Families, Fairness and Housing (Homes Victoria).
Frankston
- Median house price, 2025
- $827,000
- Median unit price, 2025
- $570,000
- Median weekly rent, 3 bedroom house, 2025 Q3
- $570
- Median weekly rent, 2 bedroom flat, 2025 Q3
- $475
Source: Valuer-General Victoria (Department of Transport and Planning), State of Victoria; Victorian Department of Families, Fairness and Housing (Homes Victoria).
Transport, schools and amenities in Box Hill and Frankston
Box Hill
Transport
- Box Hill Station (train)
- Route 109 (tram)
- Box Hill bus interchange (bus)
- Suburban Rail Loop East (metro)
- Whitehorse Road (road)
Schools and campuses
- Box Hill High School (secondary, government)
- Our Lady of Sion College (secondary, catholic)
- Kingswood College (combined, independent)
- St Francis Xavier Primary School (primary, catholic)
- Box Hill Institute (tertiary, tafe)
Amenities
- Box Hill Hospital
- Epworth Eastern
- Box Hill Central
- Box Hill Gardens
- Aqualink Box Hill
- Box Hill Town Hall and Whitehorse Art Gallery
Frankston
Transport
- Frankston Station (train)
- Stony Point line (train)
- Frankston Station bus interchange (bus)
- Nepean Highway (road)
Schools and campuses
- Frankston Primary School (primary, government)
- Frankston High School (secondary, government)
- John Paul College (secondary, catholic)
- Chisholm Institute, Frankston campus (tertiary, tafe)
Amenities
- Peninsula University Hospital
- Frankston Beach and Pier
- Peninsula Aquatic Recreation Centre
- Samuel Sherlock Reserve
- Chisholm Institute, Frankston campus
School listings show name, level and sector only. Enrolment areas change, so confirm eligibility for a specific address with the school or the Victoria education department.
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