There is still the chance for entry-level buyers to enjoy an inner-city lifestyle without breaking the bank.

The latest data from Proptrack has revealed several affordable suburbs within Melbourne’s inner ring, some within a hop, skip and jump from the CBD.

They include Travancore, Flemington, Essendon North, Carlton and Brunswick West, where units have median prices ranging from $340,000 to $440,000.

In Flemington, 5km north-west of the CBD, a one-bedroom unit at 1/30 Finsbury Street, was snapped up by first-home buyers for $340,000.

Formerly renting, the buyers were attracted to the affordability, vibrant location and ground-floor position of the home, according to Barry Plant Essendon agent Melissa Privitelli.

“This is the perfect urban retreat in an unbeatable location,” she said.

“Properties like these in the heart of Flemington are really sought-after because they are so close to the CBD.”

The unit with an open-plan layout and a car parking space, is also a stone’s throw from the iconic Flemington Racecourse and within walking distance of Newmarket train station.

In Travancore, 2.5km north-west of the CBD, a two-bedroom apartment at 913/18 Mt Alexander Road, is listed at $450,000-$490,000.

The property is attracting first-home buyers because of its location, size and price point, according to Barry Plant Whitehorse agent Gavin Hoo.

“It’s on the city’s edge and close to everything,” he said.

“It’s also larger than average, which is rare in the market.”

The stunning apartment is in the landmark Alexander Lombard Tower, designed by award-winning Fender Katsalidis Architects.

Filled with light and gleaming with sleek finishes, it is near the University of Melbourne, Melbourne Zoo, parks, trams, Flemington Bridge train station and Newmarket shops.

In Brunswick West, 6km north of the CBD, a two-bedroom apartment at 705/3 Olive York Way, is on the market for $450,000-$495,000.