Macleod (Vic.)

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

As of Feb 2026, the population of the suburb of Macleod (Vic.) is estimated to be around 10,557 people. This reflects an increase since the Census in 2021, when the population was reported as 9,892 people. The current estimate is based on AreaSearch's validation of new addresses and their analysis of the ABS' resident population data from June 2024, which showed a figure of 10,501. This increase equates to a density ratio of 2,325 persons per square kilometer, above the average seen across national locations assessed by AreaSearch. The primary driver for this growth was overseas migration, contributing approximately 93.0% of overall population gains during recent periods.

For future projections, AreaSearch is adopting ABS/Geoscience Australia's projections released in 2024 with a base year of 2022 for each SA2 area. For areas not covered by this data, AreaSearch utilises the VIC State Government's Regional/LGA projections released in 2023, adjusted using weighted aggregation methods from LGA to SA2 levels. Growth rates by age group are applied across all areas for years 2032 to 2041. Exceptional growth is predicted over this period, with the area expected to expand by 4,735 persons to 2041 based on aggregated SA2-level projections, reflecting an increase of 42.4% in total over these 17 years.

AreaSearch assessment of residential development drivers sees a low level of activity in Macleod, placing the area among the bottom 25% of areas assessed nationally

AreaSearch analysis of ABS building approval numbers shows Macleod had around 34 residential properties approved annually over the past five financial years, totalling an estimated 171 homes. In FY26 so far, 26 approvals have been recorded. The population has declined recently but housing supply remains adequate relative to demand, creating a balanced market with good buyer choice. New properties are constructed at an average value of $610,000, indicating developers target the premium market segment with higher-end properties.

This financial year, there have been $8.8 million in commercial approvals, suggesting limited commercial development focus. Recent construction comprises 49.0% standalone homes and 51.0% attached dwellings, a shift from existing patterns (currently 77.0% houses), possibly due to diminishing developable land availability and evolving lifestyle preferences. At around 454 people per approval, Macleod indicates a mature market. By 2041, AreaSearch estimates Macleod's population will grow by 4,474 residents.

If current development rates continue, housing supply may struggle to match population growth, potentially increasing buyer competition and supporting price increases.

Macleod has very high levels of nearby infrastructure activity, ranking in the top 20% nationally

Eleven projects have been identified by AreaSearch as potentially impacting the area. Key projects include 149 McKimmies Road Residential Precinct, RMIT University Bundoora Campus Developments, La Trobe University City of the Future, and University Hill Master Planned Community. The following list details those most likely to be 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 Macleod places it among Australia's strongest labour markets

Macleod has a highly educated workforce with strong representation in professional services. Its unemployment rate is 1.3%, with an estimated employment growth of 1.0% over the past year (AreaSearch aggregation). As of September 2025, there are 5,889 residents employed, with an unemployment rate of 3.4%, which is below Greater Melbourne's rate of 4.7%.

Workforce participation in Macleod is 66.7% compared to Greater Melbourne's 71.0%. According to Census responses, 42.1% of residents work from home, possibly due to Covid-19 lockdown impacts. Dominant employment sectors include health care & social assistance, professional & technical services, and education & training. Notably, education & training has a high concentration with employment levels at 1.3 times the regional average.

Conversely, manufacturing shows lower representation at 5.0% compared to the regional average of 7.2%. Over the 12 months to September 2025, employment increased by 1.0%, while labour force increased by 0.5%, reducing the unemployment rate by 0.4 percentage points (AreaSearch analysis). In contrast, Greater Melbourne experienced higher employment growth at 3.0% and labour force growth at 3.3%. Jobs and Skills Australia's national employment forecasts from May-25 suggest that Macleod's employment should increase by 7.1% over five years and 14.4% over ten years, based on industry-specific projections applied to the local employment mix.

Income metrics indicate excellent economic conditions, with the area achieving higher performance than 75% of national locations assessed by AreaSearch

According to AreaSearch's aggregation of the latest postcode level ATO data released for financial year 2023, Macleod had a median income among taxpayers of $62,692 and an average income of $83,053. This is higher than the Greater Melbourne averages of $57,688 and $75,164 respectively. Based on Wage Price Index growth of 8.25% from financial year 2023 to September 2025, estimated median income in Macleod would be approximately $67,864 and average income would be around $89,905. According to the 2021 Census, household, family, and personal incomes in Macleod are at the 65th percentile nationally. Income distribution shows that 28.8% of Macleod's population (3,040 individuals) fall within the $1,500 - $2,999 income range, which is similar to the regional average of 32.8%. The suburb demonstrates affluence with 31.6% earning over $3,000 per week, supporting premium retail and service offerings. After housing costs, 85.1% of income remains for other expenses. Macleod's SEIFA income ranking places it in the 8th decile.

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

Macleod's dwelling structure, as per the latest Census, consisted of 76.7% houses and 23.4% other dwellings (semi-detached, apartments, 'other' dwellings). This compares to Melbourne metro's 67.9% houses and 32.1% other dwellings. Home ownership in Macleod stood at 38.7%, with mortgaged dwellings at 37.7% and rented ones at 23.6%. The median monthly mortgage repayment was $2,296, higher than Melbourne metro's average of $2,000. The median weekly rent in Macleod was $396, compared to Melbourne metro's $390. Nationally, Macleod's mortgage repayments exceeded the Australian average of $1,863, while rents were above the national figure of $375.

Macleod has a typical household mix, with a lower-than-average median household size

Family households account for 69.6% of all households, consisting of 34.5% couples with children, 24.7% couples without children, and 9.6% single parent families. Non-family households comprise the remaining 30.4%, with lone person households at 27.3% and group households making up 3.0%. The median household size is 2.5 people, smaller than the Greater Melbourne average of 2.6.

Macleod performs slightly above the national average for education, showing competitive qualification levels and steady academic outcomes

Macleod's educational attainment is notably higher than broader benchmarks. As of 2016, 43.1% of residents aged 15 years and over held university qualifications, compared to the Australian average of 30.4% and the SA4 region average of 32.8%. This significant educational advantage positions Macleod favourably for knowledge-based opportunities. Bachelor degrees are most prevalent at 26.7%, followed by postgraduate qualifications (11.6%) and graduate diplomas (4.8%).

Vocational credentials are also prominent, with 25.3% of residents aged 15 years and over holding such qualifications – advanced diplomas account for 11.1% and certificates for 14.2%. Educational participation is notably high in Macleod, with 27.8% of residents currently enrolled in formal education as of the latest data available. This includes 8.4% in primary education, 7.6% in secondary education, and 6.3% pursuing tertiary education.

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

A total of 40 operational transport stops exist within Macleod, serving a variety of bus routes. These stops are covered by five different routes, collectively facilitating 2,575 weekly passenger trips. The accessibility of public transport in the area is deemed good, with residents generally situated approximately 225 meters away from their nearest stop. Predominantly residential, Macleod sees most commuters traveling outward. Private cars remain the primary mode of transportation, used by 83% of residents, while train usage stands at 11%. On average, each dwelling owns 1.3 vehicles.

According to the 2021 Census, a significant proportion (42.1%) of Macleod's residents work from home, potentially influenced by COVID-19 conditions. The service frequency across all routes averages 367 trips per day, translating to roughly 64 weekly trips per stop.

Macleod's residents are healthier than average in comparison to broader Australia with prevalence of common health conditions quite low among the general population though higher than the nation's average across older, at risk cohorts

Macleod's health data shows positive outcomes, with mortality rates and health conditions similar to national averages. Common health conditions are low among residents overall but higher among older, at-risk groups compared to national averages.

Private health cover is exceptionally high in Macleod, at approximately 60% of the total population (6,289 people), compared to 56.7% across Greater Melbourne. Mental health issues and arthritis are the most common conditions, affecting 9.0% and 7.9% of residents respectively. 68.1% of Macleod residents report no medical ailments, compared to 72.6% in Greater Melbourne. Under-65 residents have better-than-average health outcomes. The area has a higher proportion of seniors (20.2%, or 2,132 people) than Greater Melbourne (15.1%). Health outcomes among Macleod's seniors present some challenges but rank lower nationally than the broader population.

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

Macleod's population was found to be more culturally diverse than most local markets, with 26.3% born overseas and 23.0% speaking a language other than English at home. Christianity was the predominant religion in Macleod, comprising 48.9% of its population. Notably, Judaism was overrepresented at 0.1%, compared to 1.0% across Greater Melbourne.

Regarding ancestry, the top three groups were English (22.6%), Australian (20.6%), and Other (9.4%), which was lower than the regional average of 14.6%. There were significant differences in the representation of certain ethnic groups: Macedonian at 1.6% (vs regional 0.7%), Croatian at 1.4% (vs regional 0.7%), and Italian at 8.1% (vs regional 5.2%).

Macleod's median age exceeds the national pattern

Macleod's median age is 41 years, which is notably higher than Greater Melbourne's average of 37 and slightly older than Australia's median of 38. Compared to Greater Melbourne, Macleod has a significantly higher proportion of individuals aged 85 and above (4.2%) but fewer people aged 25-34 (12%). According to the 2021 Census, the population aged 15-24 increased from 10.7% to 14.2%, while those aged 0-4 decreased from 5.9% to 4.9%. By 2041, demographic projections indicate significant changes in Macleod's age profile. The 45-54 cohort is expected to grow by 48%, adding 708 residents and reaching a total of 2,176 individuals.