Airbnb Management in North Melbourne, 3051: Short Term Market Report (Updated 2025)
- Gerardo Deltiglio
- Apr 6
- 3 min read
Updated: May 14
Discover how much your property in North Melbourne could profit as a short term rental home on Airbnb & other short-term rental platforms.
North Melbourne offers a blend of historic charm and urban convenience, making it an attractive choice for short-term rentals. Just a stone’s throw from the CBD, it is home to leafy streets, heritage-listed terraces, and a buzzing cafe culture along Errol Street. Visitors can enjoy proximity to Queen Victoria Market, the Melbourne Zoo, and major event venues like Marvel Stadium. With excellent tram and train links, North Melbourne is ideal for both leisure and business travellers seeking a central yet peaceful stay.
How much can you really earn with an Airbnb or short-term rental in North Melbourne? At Staypilot, we specialise in Airbnb management in North Melbourneand use real-time data on the local short-term rental market. This market summary offers owners and investors key insights into the potential of owning a holiday rental property in North Melbourne.
This short term market report is generated using our own database of managed properties, in combination with aggregate local market data from AirDNA and Airbtics data platforms. If you would like to receive an appraisal for a specific property, please contact us via our website.
North Melbourne, 3051 - Short Term Market Report
Key Details - Short Term Rental Market
Number of short-term listings All property types & sizes | 219 |
Avg. nightly rate All property types & sizes | $154 |
Avg. occupancy rate All property types & sizes | 72% |
Avg. short-term market income Excludes new & part-time listings | $40,471 |
Average Nightly Rate
Top 50% of listings | Top 25% of listings | Top 10% of listings |
$154 | $250 | $313 |
Occupancy
Top 50% of listings | Top 25% of listings | Top 10% of listings |
72% | 75% | 81% |
Property Supply
Studio: 5% | 3 bedrooms: 8% |
1 bedroom: 27% | 4+ bedrooms: 1% |
2 bedrooms: 31% | Private rooms: 28% |
Why North Melbourne is a Prime Airbnb Location
High Demand from Business & Academic Travellers – Close to the University of Melbourne, Royal Melbourne Hospital, and the CBD, making it ideal for professionals and students.
Cultural & Heritage Appeal – Historic architecture, vibrant arts scene, and the Queen Victoria Market make it a unique destination.
Excellent Public Transport Access – Well-connected via trams and train stations, offering quick access to Melbourne’s key attractions.
Affordable Alternative to the CBD – Provides city convenience with a quieter, residential atmosphere, attracting both short- and long-term guests.
How to Maximise Airbnb Revenue in North Melbourne
Target Professionals & Medical Travellers – Optimise listings for long-term stays with workspace amenities and flexible check-in.
Highlight “Live Near Melbourne’s Top Universities & Hospitals” – Appeal to students, visiting professors, and medical staff needing short-term accommodation.
Optimise for Extended Stays – Many guests stay for weeks or months, so weekly and monthly discounts can boost bookings.
Emphasise Heritage & Local Lifestyle in Listings – Mention proximity to Errol Street’s cafes, Queen Victoria Market, and boutique shopping.
Promote “Pet-Friendly” & Family-Friendly Options – Many visitors prefer North Melbourne for its parks and quieter surroundings compared to the CBD.
Dive deeper into Airbnb property ownership in North Melbourne
Understanding the potential returns of a short stay property in North Melbourne requires careful consideration of many factors. A Staypilot local Airbnb manager can consult you on additional cost factors such as platform fees (i.e. Airbnb fees), cleaning costs and management fees. Contact us today and we can provide a detailed explanation of the operational complexity involved in running an Airbnb property, as well as how we can take the hassle out of short term property management with our fully comprehensive service.
About Staypilot
Staypilot provides comprehensive short-term rental management services to homeowners in Melbourne, Geelong, the Bellarine Peninsula and the Mornington Peninsula. Our platform blends extensive experience with a personal approach, delighting owners and guests alike. By listing your home with Staypilot, you can enjoy the exceptional returns of the short stay market without the hassle.
