Albert Park (Vic.)

An assessment of population growth drivers in Albert Park reveals an overall ranking slightly below national averages considering recent, and medium term trends

Albert Park's population, as of November 2025, is estimated at around 6,485 people. This reflects an increase of 441 people since the 2021 Census, which reported a population of 6,044 people. AreaSearch estimated this figure based on the resident population of 6,466 following examination of the latest ERP data release by the ABS (June 2024) and six additional validated new addresses since the Census date. This level of population equates to a density ratio of 2,283 persons per square kilometer, above the average seen across national locations assessed by AreaSearch. Over the past decade, Albert Park has demonstrated resilient growth patterns with an annual growth rate of 1.2%, outpacing its SA3 area. Population growth for the suburb was primarily driven by overseas migration that contributed approximately 86.0% of overall population gains during recent periods.

AreaSearch is adopting ABS/Geoscience Australia projections for each SA2 area, as released in 2024 with 2022 as the base year. For areas not covered by this data, AreaSearch utilises the VIC State Government's Regional/LGA projections released in 2023 with adjustments made employing a method of weighted aggregation of population growth from LGA to SA2 levels. Growth rates by age group from these aggregations are also applied across all areas for years 2032 to 2041. A significant population increase is forecasted for the top quartile of national statistical areas, with the suburb expected to grow by 2,181 persons to 2041 based on aggregated SA2-level projections, reflecting a gain of 34.7% in total over the 17 years.

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

AreaSearch analysis of ABS building approval numbers in Albert Park shows an average of 104 new dwelling approvals per year over the past five financial years, totalling approximately 521 homes. No approvals have been recorded so far in FY-26. The average number of new residents arriving per new home over these five years is 0.2.

New construction has been matching or outpacing demand, offering buyers more options and potentially facilitating population growth. The average value of new properties constructed is $428,000, aligning with regional trends. Compared to Greater Melbourne, Albert Park has slightly more development, at 45.0% above the regional average per person over the five-year period. This suggests strong developer confidence in the location. New development consists predominantly of townhouses or apartments (99.0%), indicating a shift from the area's existing housing composition of 19.0% houses. There are approximately 29 people per dwelling approval, reflecting an expanding market.

According to AreaSearch's latest quarterly estimate, Albert Park is expected to grow by 2,251 residents through to 2041. Based on current development patterns, new housing supply should readily meet demand, providing good conditions for buyers and potentially facilitating population growth beyond current projections.

Albert Park 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 18 projects likely to impact the area. Notable projects include Shrine to Sea Boulevard Upgrade, The Albertine, The Carter, and Barak Beacon Port Melbourne. Below is a list detailing those most relevant.

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

Denotes AI-based impression for illustrative purposes only, not to be taken as definitive under any circumstances. Please follow links and conduct other investigations from the project's source for actual imagery. Developers and project owners wishing us to use original imagery please Contact Us and we will do so.

The exceptional employment performance in Albert Park places it among Australia's strongest labour markets

Albert Park has a highly educated workforce with the technology sector being particularly well-represented. Its unemployment rate was 2.0% in the past year, with an estimated employment growth of 7.2%.

As of June 2025, 3,915 residents are employed, with an unemployment rate of 2.7%, which is below Greater Melbourne's rate of 4.6%. Workforce participation in Albert Park is on par with Greater Melbourne at 64.1%. The majority of jobs for residents are in professional & technical (with a specialization employment share of 1.9 times the regional level), health care & social assistance, and finance & insurance sectors. Conversely, manufacturing shows lower representation at 4.0% compared to the regional average of 7.2%.

There is a ratio of 1.3 workers for every resident in Albert Park, indicating it functions as an employment hub attracting workers from surrounding areas. In the 12-month period ending June 2025, employment increased by 7.2%, labour force grew by 7.5%, and unemployment rose by 0.3 percentage points. This contrasts with Greater Melbourne where employment rose by 3.5%, labour force grew by 4.0%, and unemployment rose by 0.5 percentage points. Jobs and Skills Australia's national employment forecasts from Sep-22 project national employment growth of 6.6% over five years and 13.7% over ten years. Applying these projections to Albert Park's employment mix suggests local employment should increase by 7.3% over five years and 14.6% over ten years, though this is a simple weighting extrapolation for illustrative purposes and does not account for localized population projections.

The economic profile demonstrates exceptional strength, placing the area among the top 10% nationally based on comprehensive AreaSearch income analysis

Albert Park has an exceptionally high national income level according to the latest ATO data aggregated by AreaSearch for financial year 2022. The median income among taxpayers is $73,352 and the average income stands at $145,384. These figures compare with those of Greater Melbourne, which are $54,892 and $73,761 respectively. Based on Wage Price Index growth of 12.16% since financial year 2022, current estimates would be approximately $82,272 (median) and $163,063 (average) as of September 2025. Census data reveals that household, family and personal incomes all rank highly in Albert Park, between the 91st and 95th percentiles nationally. Looking at income distribution, 35.8% of the population (2,321 individuals) fall within the $4000+ income range, differing from patterns across regional levels where $1,500 - 2,999 dominates with 32.8%. The substantial proportion of high earners (46.3% above $3,000/week) indicates strong economic capacity throughout Albert Park. High housing costs consume 16.6% of income, though strong earnings still place disposable income at the 90th percentile and the area's SEIFA income ranking places it in the 9th decile.

Albert Park displays a diverse mix of dwelling types, with above-average rates of outright home ownership

Albert Park's dwelling structures, as per the latest Census, consisted of 18.9% houses and 81.1% other dwellings (semi-detached, apartments, 'other' dwellings). This compares to Melbourne metro's 8.7% houses and 91.3% other dwellings. Home ownership in Albert Park stood at 37.9%, with mortgaged dwellings at 24.4% and rented ones at 37.8%. The median monthly mortgage repayment was $3,500, significantly higher than Melbourne metro's average of $2,170 and the national average of $1,863. The median weekly rent in Albert Park was $590, substantially above Melbourne metro's $420 and the national figure of $375.

Albert Park features high concentrations of lone person households, with a higher-than-average median household size

Family households constitute 63.7% of all households, including 28.1% couples with children, 26.6% couples without children, and 7.7% single parent families. Non-family households account for the remaining 36.3%, with lone person households at 33.2% and group households comprising 3.3%. The median household size is 2.2 people, larger than the Greater Melbourne average of 1.9.

Albert Park shows strong educational performance, ranking in the upper quartile nationally when assessed across multiple qualification and achievement indicators

Albert Park has a notably high level of educational attainment among its residents aged 15 and above. 54.8% hold university qualifications, surpassing the national average of 30.4% and the Victorian state average of 33.4%. This advantage is driven by bachelor degrees (32.8%), postgraduate qualifications (17.2%), and graduate diplomas (4.8%). Vocational pathways account for 17.9%, with advanced diplomas at 9.0% and certificates at 8.9%.

Educational participation is high, with 27.2% of residents currently enrolled in formal education. This includes primary (8.4%), secondary (7.6%), and tertiary (6.3%) education. Six schools operate within Albert Park, educating approximately 2,486 students. The area has a significant socio-educational advantage and academic achievement, reflected by an ICSEA score of 1134. Educational provision is split between two primary and four secondary institutions. Albert Park functions as an education hub with 38.3 school places per 100 residents, significantly higher than the regional average of 9.5, attracting students from surrounding communities.

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

The analysis shows that Albert Park has 29 active public transport stops. These include lightrail and bus services. There are 6 different routes operating in total, providing a combined weekly passenger trip count of 3,669.

Residents have excellent transport accessibility, with an average distance of 141 meters to the nearest stop. The service frequency across all routes is 524 trips per day, which translates to around 126 weekly trips per individual stop.

Albert Park's residents are extremely healthy with very low prevalence of common health conditions across all age groups

Analysis of health metrics shows strong performance throughout Albert Park with very low prevalence of common health conditions across all age groups. The rate of private health cover is exceptionally high at approximately 84% of the total population (5,438 people), compared to 73.1% across Greater Melbourne and the national average of 55.3%. The most common medical conditions in the area are asthma and arthritis, impacting 7.0 and 6.6% of residents respectively, while 73.1% declared themselves completely clear of medical ailments compared to 73.3% across Greater Melbourne.

The area has 22.3% of residents aged 65 and over (1,446 people), which is higher than the 14.3% in Greater Melbourne. Health outcomes among seniors are particularly strong, performing even better than the general population in health metrics.

Albert Park was found to be more culturally diverse than the vast majority of local markets in Australia, upon assessment of a range of language and cultural background related metrics

Albert Park's population was found to be more culturally diverse than most local markets, with 27.3% of residents born overseas and 18.8% speaking a language other than English at home. Christianity is the predominant religion in Albert Park, comprising 45.7% of its population. However, Judaism is notably overrepresented, making up 0.7% compared to Greater Melbourne's 3.7%.

The top three ancestry groups are English (26.5%), Australian (19.0%), and Irish (11.8%). Some ethnic groups show significant differences: Greek residents make up 7.0%, French 1.1%, and Polish 1.0%, compared to regional percentages of 3.2%, 1.1%, and 1.5% respectively.

Albert Park hosts an older demographic, ranking in the top quartile nationwide

The median age in Albert Park is 46 years, which is notably higher than Greater Melbourne's average of 37 and also above the Australian median of 38. Compared to Greater Melbourne's average, the 55-64 age cohort is significantly over-represented at 14.3% locally, while the 25-34 age group is under-represented at 8.8%. Between the 2021 Census and the present day, the 15 to 24 age group has increased from 8.8% to 10.7% of Albert Park's population. Conversely, the 5 to 14 age cohort has decreased from 11.1% to 10.0%. Population forecasts for 2041 indicate substantial demographic changes in Albert Park. The 45 to 54 age cohort is projected to grow significantly by 652 people (65%), increasing from 1,005 to 1,658 residents. The 0 to 4 age group is expected to grow at a more modest rate of 2%, adding only 5 residents.