Grafton is a compact, high-density Auckland suburb with 64% of households renting, reflecting strong and consistent tenant demand close to the city centre. Indicative gross yields range from 1.5% to 3.4%, with a median weekly rent of $295 across all property types.
Analyse a Grafton propertyMedian weekly rent in Grafton from MBIE tenancy bond records (2025-12, 3-month period). Real lodged-bond data — not estimates.
Indicative gross yield range of 1.5%–3.4% uses the rent against the Auckland median sale price of $1,000,000. Net yield is lower after rates, insurance, management and maintenance.
From the Stats NZ 2023 Census. Rental demand indicators that shape tenant pool and vacancy.
Grafton's proximity to Auckland's CBD, major hospitals, and tertiary institutions makes it a natural draw for professionals, medical staff, and students. With 64% of households renting and a median age of just 37, the suburb sustains a consistently mobile tenant base that prioritises location over property size.
The rent range runs from $280 to $650 per week across the lower to upper quartile, indicating a broad mix of stock — from compact one-bedroom apartments at $420 per week through to larger dwellings. This spread gives investors some flexibility in the price point and tenant profile they wish to target.
Based on the Auckland median price of $1,000,000, indicative gross yields in Grafton sit between 1.5% and 3.4%. Investors acquiring at or above the city median price will need to model their cash flow carefully, as the lower end of that yield range leaves limited margin before accounting for rates, insurance, maintenance, and property management costs.
The median household income in Grafton is $120,200, which suggests tenants generally have reasonable financial capacity — a positive sign for rent payment reliability. Nevertheless, the high proportion of smaller dwellings and apartments means investors should scrutinise body corporate fees and building condition carefully before committing.
Grafton offers investors genuine locational appeal — a suburb sitting on the edge of Auckland's CBD with a large renter majority of 64% and a median household income of $120,200 pointing to a financially capable tenant pool. The trade-off is that property prices benchmarked against the Auckland median of $1,000,000 compress gross yields into the 1.5%–3.4% range, making this more of a capital-growth play than a high-yield income investment.
Investors with a long-term horizon and an appetite for urban, high-density property may find Grafton's fundamentals compelling, provided acquisition costs and body corporate obligations are factored into the analysis.
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