Waterloo
Statistical Area - sa2

Waterloo lies within the top 10% of areas nationally in terms of population growth performance according to AreaSearch analysis of short and medium-term trends

Waterloo's population was around 18,357 as of August 2025. This reflected an increase of 1,978 people since the 2021 Census, which reported a population of 16,379. The change was inferred from the estimated resident population of 18,291 from the ABS in June 2024 and an additional 34 validated new addresses since the Census date. This level of population equated to a density ratio of 16,245 persons per square kilometer, placing Waterloo in the top 10% of national locations assessed by AreaSearch. The area's growth of 12.1% since the 2021 census exceeded both state (6.4%) and metropolitan area averages, marking it as a growth leader in the region. Overseas migration contributed approximately 90.6% of overall population gains during recent periods.

AreaSearch adopted ABS/Geoscience Australia projections for each SA2 area released in 2024 with 2022 as the base year. For areas not covered, NSW State Government's SA2 level projections released in 2022 with 2021 as the base year were used. Growth rates by age group from these aggregations were applied to all areas for years 2032 to 2041. Considering projected demographic shifts and exceptional growth, Waterloo is predicted to expand by 8,047 persons to 2041 based on latest population numbers, with an increase of 43.5% in total over the 17-year period.

AreaSearch assessment of residential development activity positions Waterloo among the top 25% of areas assessed nationwide

Waterloo has seen approximately 268 new homes approved each year over the past five financial years, totalling 1344 homes. As of FY26, 0 approvals have been recorded so far. On average, 1.1 new residents arrive per new home annually between FY21 and FY25, indicating balanced supply and demand dynamics. The average construction cost value for new dwellings is $581,000.

In the current financial year, Waterloo has seen $3 million in commercial development approvals, reflecting its residential character. Compared to Greater Sydney, Waterloo shows 179% higher construction activity per capita. Recent developments have been entirely attached dwellings, promoting higher-density living and offering more affordable entry points for various buyer types. With approximately 145 people per approval, Waterloo reflects a developing area. By 2041, Waterloo is projected to grow by 7981 residents. Current development appears well-matched to future needs, supporting steady market conditions without extreme price pressure.

Looking ahead, Waterloo is expected to grow by 7,981 residents through to 2041. Current development appears well-matched to future needs, supporting steady market conditions without extreme price pressure.

Waterloo has very high levels of nearby infrastructure activity, ranking in the top 10% nationally

Changes to local infrastructure significantly influence an area's performance. AreaSearch has identified 45 projects that could impact this region. Notable initiatives include Waterloo Metro Quarter, Danks Street District, 207 Young Street Waterloo, and Waterloo South Renewal Project. The following list details those likely to be most relevant.

Professional plan users can use the search below to filter and access additional projects.

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Employment drivers in Waterloo are experiencing difficulties, placing it among the bottom 20% of areas assessed across Australia

Waterloo has a highly educated workforce with notable representation in the technology sector. Its unemployment rate was 8.1% as of June 2025, which is 3.9% higher than Greater Sydney's rate of 4.2%.

The workforce participation rate was 64.2%, similar to Greater Sydney's 60.0%. Leading employment industries were professional & technical, finance & insurance, and health care & social assistance. Professional & technical had particularly high representation at 1.7 times the regional average, while health care & social assistance showed lower representation at 9.6% compared to the regional average of 14.1%. The area's predominantly residential nature suggests limited local employment opportunities.

In the 12 months prior to June 2025, employment in Waterloo increased by 0.1%, with a corresponding labour force growth of 0.5%, resulting in an unemployment rate rise of 0.4 percentage points. This contrasted with Greater Sydney's employment increase of 2.6% and labour force growth of 2.9%. Jobs and Skills Australia's national employment forecasts from May 2025 project a 6.6% expansion over five years and 13.7% over ten years. Applying these projections to Waterloo's employment mix suggests local growth of approximately 7.2% over five years and 14.3% over ten years, though these are simple weighted extrapolations for illustrative purposes only.

Income metrics indicate excellent economic conditions, with the area achieving higher performance than 75% of national locations assessed by AreaSearch

AreaSearch's latest postcode level ATO data for financial year ended June 2022 indicates median assessed income in Waterloo is $64,199 and average income stands at $78,302. In comparison, Greater Sydney's figures show median income of $56,994 and average income of $80,856. Based on Wage Price Index growth rate of 12.61% from financial year ended June 2022 to September 2025, estimated median income would be approximately $72,294 and average income around $88,176 by that date. According to census data, individual earnings at the 90th percentile nationally are $1,172 weekly. Income analysis shows largest segment comprises 29.8% earning $1,500 - $2,999 weekly (5,470 residents), consistent with broader trends across the broader area showing 30.9% in same category. Notably, 30.7% earn above $3,000 weekly, reflecting prosperity pockets driving robust local economic activity. High housing costs consume 24.9% of income, yet strong earnings place disposable income at the 55th percentile. Area's SEIFA income ranking places it in the 8th decile.

Waterloo features a more urban dwelling mix with significant apartment living, with a higher proportion of rental properties than the broader region

Waterloo's dwelling structures, as per the latest Census, consisted of 0.5% houses and 99.4% other dwellings (semi-detached, apartments, 'other' dwellings). In comparison, Sydney metro had 2.3% houses and 97.7% other dwellings. Home ownership in Waterloo was at 6.3%, with the rest either mortgaged (18.4%) or rented (75.3%). The median monthly mortgage repayment in Waterloo was $2,500, below Sydney metro's average of $2,705. Median weekly rent in Waterloo was $530, compared to Sydney metro's $550. Nationally, Waterloo's mortgage repayments were higher at $1,863 and rents substantially above the national figure of $375.

Waterloo features high concentrations of group households and lone person households, with a lower-than-average median household size

Family households account for 46.6% of all households, including 9.4% that are couples with children, 30.5% that are couples without children, and 5.4% that are single parent families. Non-family households make up the remaining 53.4%, with lone person households at 40.5% and group households comprising 12.8%. The median household size is 1.8 people, which is smaller than the Greater Sydney average of 1.9.

Educational outcomes in Waterloo fall within the lower quartile nationally, indicating opportunities for improvement in qualification attainment

Waterloo's educational attainment significantly exceeds broader benchmarks. Among residents aged 15+, 56.1% hold university qualifications, compared to Australia's 30.4% and NSW's 32.2%. Bachelor degrees are the most common at 36.6%, followed by postgraduate qualifications (16.7%) and graduate diplomas (2.8%). Vocational pathways account for 21.3% of qualifications, with advanced diplomas at 10.5% and certificates at 10.8%.

Educational participation is high, with 29.1% currently enrolled in formal education. This includes 14.1% in tertiary education, 3.3% in primary education, and 2.0% pursuing secondary education. Waterloo has two schools serving 119 students: Our Lady of Mount Carmel Catholic Primary School and Yudi Gunyi School. The area offers varied educational conditions with one primary and one K-12 school. Local school capacity is limited at 0.7 places per 100 residents, compared to the regional average of 7.7, resulting in many families traveling for schooling.

Transport servicing is high compared to other areas nationally based on assessment of service frequency, route connectivity and accessibility

Waterloo has 33 active public transport stops. These consist of a mix of lightrail and bus services. There are 16 individual routes operating in total.

Collectively, these provide 9,109 weekly passenger trips. The accessibility of the transport system is rated as excellent. Residents typically live within 100 meters of the nearest stop. On average, there are 1,301 trips per day across all routes. This equates to approximately 276 weekly trips per individual stop.

Waterloo's residents are extremely healthy with younger cohorts in particular seeing very low prevalence of common health conditions

Analysis of health metrics shows strong performance throughout Waterloo. Younger cohorts in particular have very low prevalence of common health conditions.

Private health cover is exceptionally high at approximately 59% of the total population, which consists of 10,793 people. This compares to a rate of 69.7% across Greater Sydney. The most common medical conditions are mental health issues and asthma, impacting 8.4 and 6.6% of residents respectively. A total of 76.2% of residents declare themselves completely clear of medical ailments, compared to 77.4% across Greater Sydney. The area has 10.4% of residents aged 65 and over, which amounts to 1,907 people.

Waterloo is among the most culturally diverse areas in the country based on AreaSearch assessment of a range of language and cultural background related metrics

Waterloo has a population where 43.3% speak a language other than English at home, and 59.3% were born overseas. Christianity is the main religion in Waterloo, comprising 32.2% of its population. Judaism is overrepresented in Waterloo at 1.6%, compared to 1.1% across Greater Sydney.

The top three ancestry groups are English (18.2%), Other (16.7%), and Chinese (16.1%). Notably, Russian (1.7%) Spanish (1.3%), and French (0.9%) ethnic groups also have higher representations than the regional averages of 0.8%, 1.0%, and 1.1% respectively.

Waterloo's young demographic places it in the bottom 15% of areas nationwide

Waterloo has a median age of 33, which is younger than Greater Sydney's figure of 37 and Australia's national average of 38 years. Compared to Greater Sydney, Waterloo has a higher proportion of residents aged 25-34 (33.3%), but fewer residents aged 5-14 (3.7%). This concentration of 25-34 year-olds is significantly higher than the national figure of 14.5%. Between the 2021 Census and now, the population aged 15 to 24 has grown from 11.4% to 13.3%, while the 35 to 44 age group increased from 18.4% to 19.7%. Conversely, the proportion of residents aged 25 to 34 has decreased from 35.6% to 33.3%. By 2041, population forecasts indicate significant demographic changes for Waterloo. The 25 to 34 age cohort is projected to grow strongly at a rate of 32%, adding 1,932 residents and reaching a total of 8,040.