Tyabb is a small township with four Primary schools, two Secondary-schools, Old age facilities, a Country Fire Authority station,

Antique stores and Unmanned railway station. There are a number of businesses in the town including Fruit processing, Cabinet makers, Auto repairers, Motel, Cafes, Bakery, Pharmacy, Supermarket, Equine outfitters and Engineering workshops to name a few.

Tyabb is well known for its many antique shops. The largest, the Tyabb Packing House Antique complex is housed in an historic cool store building dating from the area's fruit growing past. The Tyabb Packing House Antique complex reputedly has one of the largest retail antique collections under one roof in the southern hemisphere. There are several other antique shops in the Tyabb township. Tyabb has its own Cricket and Football teams known as the Yabbies competing in the Mornington Peninsula Nepean Football League. There is also a Baseball team, the Bulldogs, that plays at the central ground.

Tyabb also has an Aircraft Authorised Landing Area (ALA) which has been operating for more than fifty years and is owned by Peninsula Aero Club and Private investors. The ALA provides access to the area for Emergency services, it has a Flying School and an Aircraft collection.

In the last decade there has been rapid residential development in the town, changing its rural character.

Tyabb is one of the few towns in Australia that does not have a pub. Although the town is over 100 years old it has never had a pub, however two liquor vendors are operating in the town.

Tyabb has given its name to the Tyabb Fault, an ancient geological formation extending from Tyabb across the Peninsula to Mornington, and Tyabb Loam, the characteristic soil of the district. The Tyabb Fault produces many small earthquakes throughout the year.