Corio

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

As of November 2025, the estimated population for the Corio statistical area (Lv2) is around 15,839. This figure represents an increase of 342 people since the 2021 Census, which recorded a population of 15,497. The current resident population estimate of 15,790, as validated by AreaSearch following examination of the latest ERP data release by the ABS (June 2024), and an additional 130 new addresses since the Census date, indicates a population density ratio of approximately 800 persons per square kilometer. This rate is relatively consistent with averages observed across other locations assessed by AreaSearch. Overseas migration contributed significantly to the area's population growth, accounting for approximately 66.0% of overall population gains during recent periods.

AreaSearch employs ABS/Geoscience Australia projections for each SA2 area, released in 2024 with a base year of 2022, for areas covered by this data. For areas not covered, AreaSearch utilises the VIC State Government's Regional/LGA projections released in 2023, adjusting them using a method of weighted aggregation of population growth from LGA to SA2 levels. Looking ahead, significant population increases are forecast for the top quartile of national regional areas, including the Corio (SA2). Based on aggregated SA2-level projections, the area is expected to grow by 3,953 persons by 2041, reflecting an overall increase of 24.0% over the 17-year period.

Residential development activity is lower than average in Corio according to AreaSearch's national comparison of local real estate markets

AreaSearch analysis of ABS building approval numbers allocated from statistical area data indicates Corio has seen approximately 73 new homes approved annually over the past five financial years, totalling an estimated 367 homes. As of FY26, 13 approvals have been recorded. Despite population decline in the area, development activity has been adequate relative to other areas, which is positive for buyers. The average expected construction cost value of new homes being built is $527,000, indicating a focus on the premium segment with upmarket properties.

This financial year, $1.3 million in commercial approvals have been registered, suggesting a predominantly residential focus. Compared to the Rest of Vic., Corio shows substantially reduced construction activity, with 56.0% below the regional average per person. Limited new supply generally supports stronger demand and values for established properties. New development consists of 84.0% detached houses and 16.0% attached dwellings, preserving the area's low density nature and attracting space-seeking buyers.

The estimated population count of 530 people in the area per dwelling approval reflects its quiet, low activity development environment. According to AreaSearch's latest quarterly estimate, Corio is forecasted to gain 3,799 residents by 2041. If current development rates continue, housing supply may not keep pace with population growth, potentially increasing competition among buyers and supporting stronger price growth.

Corio 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 ten projects likely to impact the area. Notable projects include Cedar Woods Corio Residential Estate, Stead Park Hockey Facility Upgrade, Gateway Green Estate, and Lovely Banks Development. The following list details 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.

Employment conditions in Corio face significant challenges, ranking among the bottom 10% of areas assessed nationally

Corio has a diverse workforce with both white and blue collar jobs, notably in manufacturing and industry. As of September 2025, the unemployment rate is 12.9%.

This is 9.1% higher than the Rest of Vic.'s rate of 3.8%, indicating room for improvement. Workforce participation is lower at 49.8%, compared to Rest of Vic.'s 57.4%. Dominant employment sectors are health care & social assistance, retail trade, and manufacturing. Manufacturing employs 1.6 times the regional average.

Agriculture, forestry & fishing employ only 2.0% locally, below Rest of Vic.'s 7.5%. Between September 2024 and September 2025, Corio's labour force decreased by 0.6%, with employment down by 0.9%, causing unemployment to rise by 0.3 percentage points. Statewide, employment grew by 1.13% year-on-year to November 2025, adding 41,950 jobs, with the state unemployment rate at 4.7%. Jobs and Skills Australia's national employment forecasts from May-25 project a 6.6% growth over five years and 13.7% over ten years. Applying these projections to Corio's employment mix suggests local employment should increase by 5.7% over five years and 12.3% over ten years, though this is a simplified extrapolation for illustrative purposes only.

Income metrics place the area in the bottom 10% of locations nationally according to AreaSearch analysis

The suburb of Corio had a lower than average income level nationally in financial year 2023, according to ATO data aggregated by AreaSearch. The median income among taxpayers was $43,075 and the average income stood at $48,388. For comparison, Rest of Vic.'s figures were $50,954 and $62,728 respectively. Based on Wage Price Index growth of 8.25% since financial year 2023, estimates for September 2025 would be approximately $46,629 (median) and $52,380 (average). From the 2021 Census, incomes in Corio fell between the 5th and 10th percentiles nationally. Income distribution showed that 31.2% of the population earned within the $800 - 1,499 range, differing from metropolitan patterns where $1,500 - 2,999 dominated with 30.3%. Housing affordability pressures were severe, with only 82.4% of income remaining, ranking at the 10th percentile.

Corio is characterized by a predominantly suburban housing profile, with a higher proportion of rental properties than the broader region

As of the latest Census, Corio's dwelling structure comprised 91.5% houses and 8.4% other dwellings such as semi-detached homes, apartments, and 'other' dwellings. This compares to Non-Metro Vic.'s 84.6% houses and 15.4% other dwellings. Home ownership in Corio stood at 29.7%, with the remaining dwellings being mortgaged (28.9%) or rented (41.4%). The median monthly mortgage repayment was $1,300, significantly lower than Non-Metro Vic.'s average of $1,712 and the national figure of $1,863. Meanwhile, the median weekly rent in Corio was recorded at $280, substantially below Non-Metro Vic.'s $335 and the Australian average of $375.

Corio features high concentrations of group households, with a higher-than-average median household size

Family households constitute 67.3% of all households, including 24.5% couples with children, 20.5% couples without children, and 20.2% single parent families. Non-family households account for the remaining 32.7%, with lone person households at 28.6% and group households comprising 4.2%. The median household size is 2.5 people, larger than the Rest of Vic. average of 2.4.

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

The area's university qualification rate is 10.0%, significantly lower than Victoria's average of 33.4%. This disparity presents both a challenge and an opportunity for targeted educational initiatives. Bachelor degrees are the most common at 6.9%, followed by postgraduate qualifications (2.2%) and graduate diplomas (0.9%). Vocational credentials are prominent, with 35.5% of residents aged 15+ holding them – advanced diplomas at 8.3% and certificates at 27.2%.

Educational participation is high, with 32.7% of residents currently enrolled in formal education. This includes 11.5% in secondary education, 10.2% in primary education, and 3.1% pursuing tertiary education.

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

Corio has 77 active public transport stops offering a mix of train and bus services. These stops are served by 8 different routes, collectively facilitating 1,851 weekly passenger trips. Residents enjoy good transport accessibility, with an average distance of 232 meters to the nearest stop.

On average, there are 264 daily trips across all routes, translating to about 24 weekly trips per individual stop.

Health performance in Corio is well below average with prevalence of common health conditions notable across both younger and older age cohorts

Corio faces significant health challenges, as indicated by data showing high prevalence of common health conditions across both younger and older age groups. The rate of private health cover is notably low at approximately 46% (around 7,297 people), compared to 53.3% in the rest of Victoria and a national average of 55.7%. Mental health issues and asthma are the most prevalent conditions, affecting 11.6% and 9.9% of residents respectively, while 62.2% report having no medical ailments, compared to 65.9% in the rest of Victoria.

The area has a lower proportion of seniors aged 65 and over at 15.4% (2,439 people), compared to 16.8% in the rest of Victoria. Health outcomes among seniors generally align with those of the broader population.

The level of cultural diversity witnessed in Corio was found to be above average when compared nationally for a number of language and cultural background related metrics

Corio's population is more culturally diverse than most local markets, with 27.8% born overseas and 23.8% speaking a language other than English at home. The predominant religion in Corio is Christianity, accounting for 43.0% of its population. Islam is notably overrepresented, comprising 6.0% compared to the regional average of 2.0%.

In terms of ancestry, Australians make up 26.2%, English 25.9%, and Other 14.1%, which is higher than the regional average of 7.3%. Some ethnic groups are notably divergent: Croatian at 1.5% (vs 1.5%), Hungarian at 0.5% (vs 0.3%), and Dutch at 2.2% (vs 2.0%).

Corio's population is younger than the national pattern

Corio's median age in 2021 was 34, which is lower than the Rest of Vic.'s figure of 43 and Australia's median age of 38. Compared to the Rest of Vic., Corio has a notably higher percentage of 25-34 year-olds (17.7%) and a lower percentage of 65-74 year-olds (9%). Between 2021 and present, Corio's population aged 25-34 grew from 15.0% to 17.7%, while the 45-54 age group declined from 12.1% to 10.4% and the 5-14 age group dropped from 12.7% to 11.4%. Demographic projections suggest significant changes in Corio's age profile by 2041. The 25-34 age cohort is projected to grow by 1,613 people (58%), reaching a total of 4,417 individuals. Conversely, the 55-64 age group is expected to decrease by 11 residents.