Koroit

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

As of November 2025, the estimated population of Koroit is around 2,302, reflecting a growth of 118 people since the 2021 Census. The 2021 Census reported a population of 2,184 in the suburb. This increase was inferred from AreaSearch's estimation of the resident population at 2,258 based on the latest ERP data release by the ABS (June 2024), along with an additional 62 validated new addresses since the Census date. The population density is approximately 54 persons per square kilometer. Koroit's growth rate of 5.4% since the 2021 census exceeded the SA4 region's growth rate of 3.4%. Overseas migration contributed about 48.0% of overall population gains during recent periods, with other factors such as natural growth and interstate migration also positive contributors.

AreaSearch is using ABS/Geoscience Australia projections for each SA2 area released in 2024 with a base year of 2022. For areas not covered by this data, AreaSearch employs the VIC State Government's Regional/LGA projections released in 2023, adjusted using weighted aggregation methods to SA2 levels. Growth rates by age group from these aggregations are applied across all areas for years 2032 to 2041. By 2041, population projections indicate a decline of 619 persons overall in Koroit. However, specific age cohorts are expected to grow, notably 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 for Koroit shows approximately 21 new homes approved annually. Between FY-21 and FY-25, around 106 homes were approved, with an additional 3 approved in FY-26 so far. The average population increase per dwelling built over these years is 0.7 people.

This suggests that supply meets or exceeds demand, offering greater buyer choice while supporting potential population growth. The average value of new dwellings is $614,000, slightly above the regional average, indicating a focus on quality developments. In FY-26, there have been $19.1 million in commercial approvals, demonstrating moderate levels of commercial development. Compared to Rest of Vic., Koroit records 53.0% more new home approvals per person, offering buyers greater choice.

However, construction activity has eased recently. All recent building activity consists of detached houses, maintaining the area's traditional low density character with a focus on family homes appealing to those seeking space. With around 202 people per approval, Koroit reflects a low density area. Population is expected to remain stable or decline, reducing pressure on housing and potentially creating opportunities for buyers.

Koroit has emerging levels of nearby infrastructure activity, ranking in the 33rdth percentile nationally

Changes to local infrastructure significantly influence an area's performance. AreaSearch has identified one major project likely impacting the region: Koroit Township Renewal, Spinifex Offshore Wind Farm, Warrnambool Line Upgrade, and Willatook Wind Farm are key projects, with the following 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.

Employment performance in Koroit ranks among the strongest 15% of areas evaluated nationally

Koroit has a skilled workforce with essential services sectors well represented. Its unemployment rate is 0.7%, based on AreaSearch's aggregation of statistical area data.

As of June 2025, 1,151 residents are employed, with an unemployment rate of 3.1% below 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 may offer limited local employment opportunities, as indicated by the count of Census working population versus resident population. Over the 12 months to June 2025, labour force levels decreased by 1.9%, alongside a 1.8% employment decline, with unemployment remaining essentially unchanged. This compares to Rest of Vic., where employment fell by 0.9%, labour force contracted by 0.4%, and unemployment rose by 0.4 percentage points. Jobs and Skills Australia's national employment forecasts from Sep-22 suggest potential future demand within Koroit. These projections estimate national employment growth at 6.6% over five years and 13.7% over ten years, with varying rates 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, although this is a simple weighting extrapolation for illustrative purposes only and does not account for localized population projections.

Income levels sit below national averages according to AreaSearch assessment

Koroit's median income among taxpayers was $48,302 in financial year 2022. The average income stood at $62,238 during the same period. These figures are lower than those for Rest of Vic., which were $48,741 and $60,693 respectively. Based on a Wage Price Index growth rate of 12.16% since financial year 2022, estimated median income would be approximately $54,176 as of September 2025. The estimated average income by that date is $69,806. According to the 2021 Census, household, family and personal incomes in Koroit rank modestly, between the 33rd and 38th percentiles. Incomes within the range of $1,500 - 2,999 were reported by 35.7% of the population (821 individuals), similar to the regional average of 30.3%. Housing costs are manageable with 87.7% retained. Disposable income ranks at the 38th percentile and the area's SEIFA income ranking places it in the 4th decile.

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

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

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

Family households account for 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 constitute the remaining 24.9%, with lone person households at 23.5% and group households comprising 1.1%. The median household size is 2.5 people, 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 them, including advanced diplomas (11.0%) and certificates (31.8%). Educational participation is high at 29.2%, comprising primary education (11.6%), secondary education (7.7%), and tertiary education (2.0%).

The area has two primary schools, Koroit And District Primary School and St Patrick's School, serving a total of 279 students. These schools focus on primary education with secondary options available in nearby areas. The area's ICSEA score is 1012, indicating typical Australian school conditions with balanced educational opportunities.

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

Koroit has ten active public transport stops operating, all of which are bus stops. These stops are served by eight different routes that together offer 109 weekly passenger trips. The accessibility of these services is rated as good, with residents typically located 309 meters from the nearest stop.

On average, there are 15 trips per day across all routes, equating to approximately ten 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.

Private health cover is present at approximately 51% of the total population (~1,184 people), which is slightly lower than the average SA2 area. The most frequent medical conditions are asthma (9.8%) and mental health issues (8.6%). A majority, 66.3%, report being completely free from medical ailments, compared to 65.9% in Rest of Vic. The population aged 65 and over stands at 21.1% (485 people). Health outcomes among seniors are notably strong, outperforming 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 2016 Census, had a population where 92.7% were born in Australia, 92.8% held citizenship, and 97.6% spoke English only at home. Christianity was the predominant religion, practiced by 51.4%, compared to 52.0% across Rest of Vic.. The top three ancestry groups were English (32.4%), Australian (30.3%), and Irish (16.8%).

Notably, Scottish ancestry was overrepresented at 8.6% in Koroit versus 9.6% regionally, Dutch at 1.3% compared to 1.5%, and German at 3.2% versus 3.1%.

Koroit hosts an older demographic, ranking in the top quartile nationwide

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 group is notably over-represented in Koroit at 12.6%, compared to the Rest of Vic. average, while those aged 85 and above are under-represented at 1.6%. Between the 2021 Census and the latest data, 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 age group has decreased from 14.5% to 12.6%, and the 45-54 group has dropped from 12.1% to 10.7%. By 2041, population forecasts indicate significant demographic changes in Koroit. The 85+ age cohort is projected to grow by 15 people (41%), from 36 to 52. This aging trend is evident, with those aged 65 and above comprising all of the projected growth. Conversely, the 75-84 and 0-4 age groups are expected to experience population declines.