Footscray vs GeelongTwo suburbs compared for a home loan
Footscray (VIC 3011) is approximately 5 km west of the Melbourne CBD. Geelong (VIC 3220) is approximately 75 km south-west of the Melbourne CBD. At the 2021 Census, Footscray had 17,131 residents with a median age of 34, and Geelong had 5,811 residents with a median age of 40.
The most common occupied dwelling was flats and apartments in Footscray and separate houses in Geelong. Flats and apartments made up 52% of occupied dwellings in Footscray and 25% in Geelong, while 57% of Footscray households rented compared with 44% in Geelong. 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 3011 · Inner West Melbourne
Footscray
Footscray is an inner-west Melbourne centre with a major rail interchange, a new public hospital, Victoria University and a mix of cottages and towers.
City of Maribyrnong. Approximately 5 km west of the Melbourne CBD.
Read the full Footscray guideVIC 3220 · Greater Geelong
Geelong
Geelong 3220 is the waterfront centre of Victoria's second city, mixing Victorian houses, townhouses and apartments close to the station and hospital.
City of Greater Geelong. Approximately 75 km south-west of the Melbourne CBD.
Read the full Geelong guide
What buying in Footscray and Geelong 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 Footscray and Geelong.
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
- $837,305
- Loan to value ratio
- 89.2%
- Transfer duty, Victoria
- $50,420
- Lenders mortgage insurance
- $14,805
- Upfront cash needed
- $153,420
- Loan amount
- $829,670
- Loan to value ratio
- 89.1%
- Transfer duty, Victoria
- $49,970
- Lenders mortgage insurance
- $14,670
- Upfront cash needed
- $152,970
- At these prices, Footscray costs $46 more a month than Geelong and needs $450 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.
Footscray and Geelong: 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 | Footscray | Geelong |
|---|---|---|
| People and households | ||
| Residents | 17,131 | 5,811 |
| Median ageAustralia 38 | 34 | 40 |
| Average household sizeAustralia 2.5 | 2.1 | 2.0 |
| Median household income, weeklyAustralia $1,746 | $1,763 | $1,670 |
| Housing costs at the 2021 Census | ||
| Median rent, weeklyAustralia $375 | $355 | $370 |
| Median mortgage repayment, monthlyAustralia $1,863 | $1,940 | $2,000 |
| Who owns and who rents | ||
| Households rentingAustralia 31% | 57% | 44% |
| Owned with a mortgageAustralia 35% | 27% | 20% |
| Owned outrightAustralia 31% | 15% | 34% |
| Types of home | ||
| Separate housesAustralia 72% | 32% | 52% |
| Townhouses, terraces and semi-detachedAustralia 13% | 15% | 21% |
| Flats and apartmentsAustralia 14% | 52% | 25% |
| Homes with two bedrooms or fewer | 65% | 47% |
| Homes with four bedrooms or more | 7% | 17% |
| Dwellings unoccupied on Census night | 21% | 18% |
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 Footscray and Geelong
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.
Footscray
- First home buyers
- Investors
- Upgraders
- Some lenders cap loan-to-value ratios or limit exposure for apartments in large towers, which are common around the station.
- Off-the-plan purchases carry valuation risk at completion, which can increase the cash contribution required.
- Company share and stratum title flats are accepted by fewer lenders and often at lower loan-to-value ratios.
- Flood mapping near the Maribyrnong River can affect insurance, and lenders require building insurance at settlement.
- Sites with an Environmental Audit Overlay or industrial history may complicate valuation and development finance.
Geelong
- Downsizers
- Investors
- Upgraders
- First home buyers
- Lenders may reduce the maximum loan-to-value ratio for small apartments or buildings with a high concentration of investor-owned lots.
- Off-the-plan apartments are valued at completion, so the valuation can differ from the contract price agreed earlier.
- Heritage controls restrict demolition and external alterations to many period houses, which valuers take into account.
- Auction purchases are unconditional, so finance approval and building inspections need to be arranged before bidding.
- Owners corporation fees, special levies and defect or cladding issues affect serviceability and can influence a lender's view of the security.
- Short-stay rental income is often excluded or heavily discounted in serviceability assessments.
Housing stock in Footscray and Geelong compared
Footscray
- Weatherboard cottages and bungalows
- Victorian, Edwardian and interwar timber houses on modest lots, where restumping, roofing and wiring are common inspection items.
- Townhouses and infill units
- Newer attached dwellings that have replaced older houses or small industrial sites in the residential streets.
- High-rise and mid-rise apartments
- Towers and complexes near the station and in the Joseph Road precinct, mostly one-bedroom and two-bedroom layouts.
- Older walk-up flats
- Older blocks of flats, where buyers should confirm whether the title is strata, stratum or company share.
Geelong
- Victorian and Edwardian houses
- Weatherboard cottages and brick villas on modest allotments, many affected by heritage controls.
- Townhouses and villa units
- Infill dwellings and older unit developments in the southern streets, usually within a small owners corporation.
- Apartments
- Older walk-up flats and newer multi-storey buildings near the waterfront and commercial core.
Official sale price and rent figures for Footscray and Geelong
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.
Footscray
- Median house price, 2025
- $922,500
- Median unit price, 2025
- $453,500
- Median weekly rent, 3 bedroom house, 2025 Q3
- $640
- Median weekly rent, 2 bedroom flat, 2025 Q3
- $560
Source: Valuer-General Victoria (Department of Transport and Planning), State of Victoria; Victorian Department of Families, Fairness and Housing (Homes Victoria).
Geelong
- Median house price, 2025
- $915,000
- Median unit price, 2025
- $635,000
- Median weekly rent, 3 bedroom house, 2025 Q3 (Geelong-Newcombe)
- $480
- Median weekly rent, 2 bedroom flat, 2025 Q3 (Geelong-Newcombe)
- $460
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 Footscray and Geelong
Footscray
Transport
- Footscray Station (train)
- Sunbury line via Metro Tunnel (metro)
- Route 82 (tram)
- Footscray station bus interchange (bus)
Schools and campuses
- Footscray High School (secondary, government)
- Footscray Primary School (primary, government)
- Footscray City Primary School (primary, government)
- St Monica's Primary School (primary, catholic)
- Victoria University, Footscray Park Campus (tertiary, university)
- Victoria University, Footscray Nicholson Campus (tertiary, tafe)
Amenities
- Footscray Hospital
- Footscray Market
- Footscray Park
- Footscray Community Arts
- Victoria University Aquatic and Fitness Centre
Geelong
Transport
- Geelong Station (train)
- South Geelong Station (train)
- Geelong Station bus interchange (bus)
- Ryrie Street (road)
Schools and campuses
- Matthew Flinders Girls Secondary College (secondary, government)
- Deakin University, Geelong Waterfront campus (tertiary, university)
Amenities
- University Hospital Geelong
- Westfield Geelong
- Eastern Beach
- Geelong Gallery
- Geelong Arts Centre
- Nyaal Banyul Geelong Convention and Event Centre
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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