James Nelis
The Nelis Group Buyers Agency
Brisbane, QLD+7
Regional Victoria · Mornington Peninsula
Rye is a classic coastal town defined by its dual personality: a tranquil seaside village in winter and a bustling holiday hotspot in summer. It offers a relaxed, family-friendly lifestyle with stunning natural beauty, from the calm, sandy shores of Port Phillip Bay to the rugged ocean beaches of Bass Strait. The community is a mix of permanent residents, including families and retirees, and a large influx of holidaymakers who are drawn to its beaches, vibrant foreshore, and proximity to Melbourne.
Last reviewed 14 May 2026
Market snapshot
Official figures
Read 6 October 2026
Median house price by year1
At the 2021 Census
Sources
Rye 3941 · Mornington Peninsula. Medians describe sales, not the value of any one home.
Agents on a Pro plan across Mornington Peninsula
Why a buyers agent
Navigating the Rye property market requires a nuanced understanding that goes beyond median price data. The suburb has distinct micro-markets, from the coveted 'Tyrone' pocket near Blairgowrie to the more residential areas further from the foreshore and the rugged 'back beach' locales. An experienced buyer's agent can provide crucial insight into the value variations between these areas, which online algorithms often miss. Furthermore, Rye's market is highly seasonal, with activity peaking in summer. This creates both opportunities and challenges.
Enjoy the best of both worlds with access to the calm, family-friendly bay beach for swimming and boating, and the exhilarating surf and coastal walks of the ocean beach.
As a perennially popular holiday destination for Melburnians, Rye offers property owners the opportunity for strong rental returns from the year-round tourism market.
Located just minutes from the acclaimed Peninsula Hot Springs, numerous wineries, and championship golf courses, Rye offers a resort lifestyle with endless recreation options.
Despite its holiday buzz, Rye maintains a strong sense of community with a well-equipped town centre, a local primary school, and numerous parks and reserves for residents to enjoy.
Compare
| Metric | This suburbRye | NearbyRosebud | NearbySorrento |
|---|---|---|---|
| Median house | $935,000 | $745,000 | $1,800,000 |
| Median unit | $585,500 | $687,500 | Not available |
| Year-on-year growth | -6.5% | +2.1% | -3.0% |
| 5-year growth | +17.8% | +25.2% | +8.1% |
| Rental yield | Not available | Not available | Not available |
| Postcode | 3941 | 3939 | 3943 |
Official medians for 2025 from the state Valuer-General, and our calculations from them. Sources are on each suburb page.
The place
Rye is a quintessential Mornington Peninsula suburb, nestled between the calm bay waters of Port Phillip and the wild surf of the Bass Strait. Its main commercial hub runs along Point Nepean Road, offering a wide array of cafes, restaurants, and local shops, including a major Woolworths supermarket. Dining options range from casual fish and chips on the beach to authentic Greek at Meat The Greek and modern Thai at Ruby.
The suburb is a haven for recreation. The Rye Foreshore Reserve provides expansive parklands, playgrounds, and BBQ facilities, while the iconic Rye Pier is a focal point for fishing and diving, featuring a 200-metre underwater snorkel trail known as the 'Octopus's Garden'. The rugged Rye Ocean Beach is popular with surfers, while the bay beach offers safe swimming for families. The area is also a gateway to the Mornington Peninsula National Park and world-class attractions like the Peninsula Hot Springs.
For families, Rye Primary School has served the community for over a century, offering a strong local education option. Public transport is limited, and the suburb is largely car-dependent, with the Mornington Peninsula Freeway providing access to Melbourne, approximately 90 minutes away.
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Official figures are cited in the figures block above. Editorial review: 14 May 2026.
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