Koroit

Koroit has seen population growth performance typically on par with national averages when looking at short and medium term trends

Based on analysis of ABS population updates for the broader area, as of Nov 2025, Koroit's estimated population is around 2,343. This reflects an increase of 159 people since the 2021 Census, which reported a population of 2,184 people. The change is inferred from AreaSearch's estimation of the resident population at 2,243 following examination of the latest ERP data release by the ABS (June 2024) and an additional 62 validated new addresses since the Census date. This level of population equates to a density ratio of 55 persons per square kilometer. Koroit's 7.3% growth since the 2021 census exceeded the SA4 region's 4.2%. Population growth was primarily driven by overseas migration, contributing approximately 48.0% of overall population gains during recent periods.

AreaSearch is adopting ABS/Geoscience Australia projections for each SA2 area, released in 2024 with a base year of 2022. For areas not covered, AreaSearch utilises the VIC State Government's Regional/LGA projections released in 2023, adjusted employing a method of weighted aggregation of population growth from LGA to SA2 levels. Growth rates by age group are applied across all areas for years 2032 to 2041. Over this period, projections indicate a decline in overall population by 612 persons by 2041. However, specific age cohorts are anticipated to grow, led by the 85 and over age group, projected to increase by 8 people.

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

AreaSearch analysis of ABS building approval numbers in Koroit shows around 22 new homes approved annually. Between FY-21 and FY-25, approximately 111 homes were approved, with another 7 approved so far in FY-26. This results in an average of 0.7 people moving to the area per dwelling built over these years.

The supply meets or exceeds demand, offering greater buyer choice while supporting potential population growth. The average construction value of new dwellings is $614,000, indicating a focus on premium market properties. In FY-26, there have been $5.1 million in commercial approvals, reflecting the area's predominantly residential nature. Compared to Rest of Vic., Koroit records 60.0% more new home approvals per person.

Recent building activity consists solely of detached houses, maintaining the area's traditional low density character and appealing to those seeking family homes with space. With around 222 people per approval, Koroit reflects a transitioning market with stable or declining population expected in the future, potentially reducing housing pressure for buyers.

Koroit has moderate levels of nearby infrastructure activity, ranking in the 44thth percentile nationally

Infrastructure changes significantly influence an area's performance. AreaSearch identified one major project expected to impact the area: Koroit Township Renewal, Spinifex Offshore Wind Farm, Warrnambool Line Upgrade, and Willatook Wind Farm are key projects, with the following list detailing those of most relevance.

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 Koroit demonstrate exceptional strength compared to most Australian markets

Koroit has a skilled workforce with essential services sectors well represented. Its unemployment rate as of September 2025 was 1.0%, lower than the Rest of Vic.'s rate of 3.8%.

Workforce participation in Koroit is 62.2% compared to Rest of Vic.'s 57.4%. Employment is concentrated in health care & social assistance, retail trade, and construction. Retail trade is particularly specialized with an employment share of 1.3 times the regional level. Professional & technical services are under-represented at 2.9% compared to Rest of Vic.'s 4.7%.

The area offers limited local employment opportunities as indicated by Census data. Over the 12 months to September 2025, labour force levels decreased by 2.8% and employment declined by 3.1%, resulting in an unemployment rate rise of 0.3 percentage points. State-level data to 25-Nov shows VIC employment grew by 1.13% year-on-year with the state unemployment rate at 4.7%. National employment forecasts from May-25 project growth of 6.6% over five years and 13.7% over ten years, but growth rates differ significantly between industry sectors. Applying these projections to Koroit's employment mix suggests local employment should increase by 6.0% over five years and 12.9% over ten years.

Income figures position the area below 75% of locations analysed nationally by AreaSearch

The suburb of Koroit had an income level below the national average according to ATO data aggregated by AreaSearch for the financial year ending June 2023. The median income among taxpayers in Koroit was $48,302 and the average income stood at $62,238. In comparison, Rest of Vic.'s median and average incomes were $50,954 and $62,728 respectively. By September 2025, based on Wage Price Index growth of 8.25%, estimated incomes for Koroit would be approximately $52,287 (median) and $67,373 (average). The 2021 Census data showed household, family, and personal incomes in Koroit ranked modestly, between the 33rd and 38th percentiles. Incomes of $1,500 - 2,999 were reported by 35.7% of the population (836 individuals), similar to the regional figure of 30.3%. Housing costs allowed for retention of 87.7%, but disposable income was below average at the 38th percentile. The area's SEIFA income ranking placed it in the 4th decile.

Koroit is characterized by a predominantly suburban housing profile, with above-average rates of outright home ownership

In Koroit, as per the latest Census evaluation, 96.1% of dwellings were houses while 3.9% consisted of other types such as semi-detached homes, apartments, and 'other' dwellings. This compares to Non-Metro Vic.'s figures of 87.6% houses and 12.3% other dwellings. Home ownership in Koroit stood at 42.2%, similar to Non-Metro Vic., with the rest being mortgaged (41.2%) or rented (16.6%). The median monthly mortgage repayment was $1,400, lower than Non-Metro Vic.'s average of $1,430. Median weekly rent in Koroit was recorded at $280 compared to Non-Metro Vic.'s $283. Nationally, Koroit's median monthly mortgage repayment is significantly lower than the Australian average of $1,863, while rents are substantially below the national figure of $375.

Koroit has a typical household mix, with a higher-than-average median household size

Family households comprise 75.1% of all households, including 31.6% couples with children, 32.0% couples without children, and 11.0% single parent families. Non-family households account for the remaining 24.9%, with lone person households at 23.5% and group households making up 1.1%. The median household size is 2.5 people, which is larger than the Rest of Vic. average of 2.4.

Educational attainment in Koroit aligns closely with national averages, showing typical qualification patterns and performance metrics

The area's university qualification rate is 19.7%, significantly lower than Victoria's average of 33.4%. Bachelor degrees are the most common at 13.1%, followed by postgraduate qualifications (3.8%) and graduate diplomas (2.8%). Vocational credentials are prevalent, with 42.8% of residents aged 15+ holding such qualifications - advanced diplomas at 11.0% and certificates at 31.8%. Educational participation is high, with 29.2% of residents currently enrolled in formal education.

This includes 11.6% in primary education, 7.7% in secondary education, and 2.0% pursuing tertiary education.

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

The analysis of public transport in Koroit indicates the operation of ten active transport stops, all of which are bus stops. These stops are serviced by three individual routes that collectively provide fifty-eight weekly passenger trips. The accessibility of transport is rated as good, with residents typically located 309 meters from the nearest transport stop.

Service frequency averages eight trips per day across all routes, equating to approximately five weekly trips per individual stop.

Health outcomes in Koroit are marginally below the national average with common health conditions slightly more prevalent than average across both younger and older age cohorts

Koroit's health indicators show below-average results with common health conditions slightly more prevalent than average across both younger and older age groups.

Approximately 51% of Koroit's total population (~1,205 people) has private health cover, which is relatively low. The most prevalent medical conditions are asthma (9.8%) and mental health issues (8.6%). About 66.3% of residents declare themselves completely clear of medical ailments, compared to 65.9% across the rest of Victoria. Koroit has 21.1% of residents aged 65 and over (494 people), with health outcomes among seniors performing even better than the general population in health metrics.

The latest Census data sees Koroit placing among the least culturally diverse areas in the country when compared across a range of language and cultural background related metrics

Koroit, as per the data from the Australian Bureau of Statistics Census conducted on the 9th of August, 2016, shows a lower than average cultural diversity. The population born in Australia constitutes 92.7%, with 92.8% being citizens and 97.6% speaking English only at home. Christianity is the predominant religion, practiced by 51.4% of Koroit's population, which is slightly below the Rest of Vic average of 52.0%.

The ancestry of residents shows that those with English heritage make up 32.4%, Australians 30.3%, and Irish 16.8% of the population. Notably, Scottish ancestry is overrepresented at 8.6%, compared to the regional average of 9.6%, while Dutch and German ancestries are slightly underrepresented at 1.3% and 3.2% respectively, versus regional averages of 1.5% and 3.1%.

Koroit's median age exceeds the national pattern

The median age in Koroit is 40 years, which is slightly below Rest of Vic.'s average of 43 but above Australia's median of 38. The 25-34 age cohort is notably higher at 12.6% compared to the Rest of Vic. average, while the 85+ cohort is under-represented at 1.6%. Between the 2021 Census and the present, the 75-84 age group has increased from 5.9% to 7.3%, and the 15-24 cohort has risen from 10.0% to 11.3%. Conversely, the 55-64 cohort has declined from 14.5% to 12.6%, and the 45-54 group has dropped from 12.1% to 10.7%. Population forecasts for 2041 indicate significant demographic changes in Koroit, with the 85+ age cohort projected to expand by 14 people (39%), from 37 to 52. The aging population trend is evident, with those aged 65 and above comprising all of the projected growth. Conversely, the 75-84 and 0-4 cohorts are expected to experience population declines.