Macedon

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

As of Nov 2025, Macedon's population is estimated at around 2,143 people. This figure reflects an increase of 70 individuals since the 2021 Census, which reported a population of 2,073 people. The change is inferred from AreaSearch's estimation of the resident population at 2,142 following examination of ABS' latest ERP data release in June 2024 and validation of three new addresses since the Census date. This results in a density ratio of approximately 55 persons per square kilometer. Natural growth contributed roughly 57% to overall population gains during recent periods.

AreaSearch is utilising 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 VIC State Government's Regional/LGA projections from 2023 with adjustments made via 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. Considering projected demographic shifts, Macedon is expected to grow by 461 persons to 2041 based on aggregated SA2-level projections, reflecting an increase of approximately 22.2% in total over the 17-year period.

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

AreaSearch analysis of ABS building approval numbers indicates Macedon had virtually no dwelling approvals in recent years, totalling an estimated 3 homes over the past five financial years from FY-21 to FY-25. As of FY-26, 0 approvals have been recorded. This translates to approximately 22.7 new residents arriving per year for each dwelling constructed.

Given the average construction value of $1,104,000 per dwelling, development has focused on premium properties. Compared to Greater Melbourne and nationally, Macedon has significantly less development activity, reflecting market maturity and possible constraints. Recent building activity consists solely of detached dwellings, maintaining Macedon's low-density character with a focus on family homes. The estimated population density is 1428 people per dwelling approval, indicating a quiet, low-activity development environment.

Macedon has strong levels of nearby infrastructure activity, ranking in the top 30% nationally

Eight projects identified by AreaSearch are expected to impact the area, significantly influencing its performance. These include Hanging Rock to Daylesford Shared Trail, Macedon Ranges Sports Precinct, Hamilton Road Reconstruction New Gisborne to Riddells Creek, and Gisborne Business Park Development. The following list details those considered most relevant.

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

Macedon has a highly educated workforce with significant representation in professional services. The unemployment rate is 1.4% and there was an estimated 4.2% employment growth over the past year (AreaSearch data aggregation).

As of June 2025, 1,204 residents are employed while the unemployment rate is 3.2% lower than Greater Melbourne's rate of 4.6%. Workforce participation in Macedon matches Greater Melbourne's figure of 64.1%. The leading employment industries among residents include education & training, construction, and professional & technical services, with a particularly strong specialization in education & training (1.5 times the regional level). Conversely, accommodation & food shows lower representation at 3.6% compared to the regional average of 6.4%.

Employment opportunities locally may be limited as indicated by the Census working population count versus resident population. Over the 12 months to June 2025, employment increased by 4.2% while labour force grew by 4.5%, resulting in a slight rise in unemployment (0.3 percentage points). In comparison, Greater Melbourne recorded employment growth of 3.5%, labour force growth of 4.0%, and an unemployment increase of 0.5 percentage points. National employment forecasts from Jobs and Skills Australia (Sep-22) suggest potential future demand within Macedon. These projections estimate national employment expansion by 6.6% over five years and 13.7% over ten years, with varying growth rates between industry sectors. Applying these industry-specific projections to Macedon's employment mix suggests local employment should increase by approximately 6.7% over five years and 13.6% over ten years (simple weighting extrapolation for illustrative purposes).

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 2022 shows Macedon had a median income among taxpayers of $62,536 and an average of $99,347. Nationally, these figures are exceptionally high compared to Greater Melbourne's median of $54,892 and average of $73,761. Based on Wage Price Index growth of 12.16% since financial year 2022, estimated incomes as of September 2025 would be approximately $70,140 (median) and $111,428 (average). Census 2021 income data places Macedon's household, family, and personal incomes between the 72nd and 85th percentiles nationally. Income analysis reveals that 27.0% of residents earn $1,500 - 2,999 weekly, similar to metropolitan regions where 32.8% fall into this bracket. A substantial proportion, 40.8%, earn above $3,000 per week, indicating strong economic capacity in the suburb. After housing costs, residents retain 88.6% of their income, reflecting strong purchasing power. The area's SEIFA income ranking places it in the 9th decile.

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

The dwelling structure in Macedon, as per the latest Census, consisted of 96.5% houses and 3.4% other dwellings (semi-detached, apartments, 'other' dwellings). In comparison, Melbourne metro had 94.7% houses and 5.3% other dwellings. Home ownership in Macedon stood at 44.8%, with the rest being mortgaged (45.8%) or rented (9.5%). The median monthly mortgage repayment was $2,213, higher than Melbourne metro's average of $2,014. The median weekly rent figure was recorded at $371, compared to Melbourne metro's $400. Nationally, Macedon's mortgage repayments were significantly higher than the Australian average of $1,863, while rents were lower than the national figure of $375.

Macedon features high concentrations of family households, with a fairly typical median household size

Family households comprise 80.2% of all households, including 40.4% couples with children, 31.4% couples without children, and 8.2% single parent families. Non-family households account for the remaining 19.8%, with lone person households at 17.6% and group households comprising 1.6%. The median household size is 2.8 people, which matches the Greater Melbourne average.

Macedon demonstrates exceptional educational outcomes, ranking among the top 5% of areas nationally based on AreaSearch's comprehensive analysis of qualification and performance metrics

Macedon's educational attainment exceeds broader benchmarks, with 39.7% of residents aged 15+ holding university qualifications compared to 27.7% in the SA3 area and 27.7% in the SA4 region. Bachelor degrees are most prevalent at 23.8%, followed by postgraduate qualifications (10.0%) and graduate diplomas (5.9%). Vocational credentials are also prominent, with 31.7% of residents aged 15+ holding such qualifications – advanced diplomas (11.5%) and certificates (20.2%). Educational participation is high, with 31.9% of residents currently enrolled in formal education, including 12.3% in primary, 10.6% in secondary, and 4.2% in tertiary education.

Macedon Primary School and Alice Miller School serve a total of 627 students. The area has significant socio-educational advantages and academic achievement (ICSEA: 1118). It functions as an education hub with 29.3 school places per 100 residents, exceeding the regional average of 16.4, attracting students from surrounding communities.

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

Macedon has two operational public transport stops. These offer a mix of train and bus services, with seven routes in total providing 391 weekly passenger trips. The accessibility of these services is limited, with residents typically living 1081 meters from the nearest stop.

Across all routes, there are an average of 55 daily trips, which equates to approximately 195 weekly trips per individual stop.

Macedon's residents are extremely healthy with both young and old age cohorts seeing low prevalence of common health conditions

Analysis shows Macedon's health metrics are robust. Both younger and older age groups have a low prevalence of common health conditions. Private health cover is high at approximately 66% of Macedon's total population (1,412 people), compared to Greater Melbourne's 58.9%.

Nationally, the average is 55.3%. The most prevalent medical conditions are arthritis and asthma, affecting 7.6% and 7.5% of residents respectively. 72.0% of residents report no medical ailments, higher than Greater Melbourne's 69.3%. Macedon has 19.5% (417 people) aged 65 and over. Health outcomes among seniors are particularly strong, outperforming the general population in health metrics.

Macedon is considerably less culturally diverse than average when assessed alongside AreaSearch's national rankings for language and cultural background related metrics

Macedon had a lower than average cultural diversity, with 86.0% of its population born in Australia, 91.3% being citizens, and 95.9% speaking English only at home. Christianity was the predominant religion in Macedon, comprising 38.4% of people. Notably, Judaism was not represented in Macedon's population, compared to a regional average of 0.1%.

The top three ancestry groups were Australian (29.7%), English (28.5%), and Irish (10.3%). Some ethnic groups showed notable differences: Polish residents were overrepresented at 1.1% compared to the regional average of 0.8%, Dutch residents were overrepresented at 2.0% compared to 1.5%, and Maltese residents were underrepresented at 1.5% compared to the regional average of 2.1%.

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

Macedon's median age is 44, surpassing Greater Melbourne's figure of 37 and significantly exceeding the national average of 38. The 5-14 age group comprises 17.3%, higher than Greater Melbourne's percentage but lower than the national average of 12.2%. Post the 2021 Census, the 75 to 84 age group grew from 5.3% to 7.9%, while the 15 to 24 cohort increased from 11.0% to 12.6%. Conversely, the 65 to 74 group decreased from 13.0% to 9.8% and the 25 to 34 group dropped from 5.2% to 2.7%. By 2041, demographic shifts suggest significant changes in Macedon's age profile. Notably, the 45 to 54 group is projected to grow by 39%, adding 140 people and reaching a total of 503 from its current figure of 362. Meanwhile, population declines are forecast for the 0 to 4 and 35 to 44 age cohorts.