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 May 2026, the estimated population of Macleod (Vic.) is around 10,655, reflecting a 7.7% increase since the 2021 Census which reported 9,892 people. This growth is inferred from AreaSearch's estimate of 10,651 residents based on ABS ERP data released in June 2025 and additional validated new addresses since the Census date. The population density ratio is 2,346 persons per square kilometer, placing Macleod in the upper quartile nationally according to AreaSearch assessments. Macleod's growth rate of 7.7% since the census is within 1.6 percentage points of Victoria's state average of 9.3%. Overseas migration contributed approximately 93.0% of overall population gains during recent periods. AreaSearch uses ABS/Geoscience Australia projections for each SA2 area released in 2024 with a base year of 2022, and VIC State Government's Regional/LGA projections from 2023 adjusted to SA2 levels for areas not covered by ABS data.

Future population trends predict exceptional growth, placing Macleod in the top 10% nationally, with an expected expansion of 4,676 persons by 2041, reflecting a total increase of 43.9% over the 16-year period.

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

Based on AreaSearch analysis of ABS building approval numbers allocated from statistical area data, Macleod has recorded approximately 34 residential properties granted approval each year over the past five financial years. This totals an estimated 170 homes. In FY-26 so far, 38 approvals have been recorded. Over these five years, the average number of new residents per year per dwelling constructed is 1.4. However, this has intensified to 11.7 people per dwelling over the past two financial years, indicating growing popularity and potential undersupply.

New homes are being built at an average expected construction cost value of $610,000, targeting the premium market segment with higher-end properties. This 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, marking a significant shift from existing housing patterns which are currently 77.0% houses. Macleod indicates a mature market with around 473 people per approval.

According to the latest AreaSearch quarterly estimate, Macleod is expected to grow by 4,672 residents through to 2041. If current development rates continue, housing supply may struggle to match population growth, potentially heightening buyer competition and supporting price increases.

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

Infrastructure projects significantly influence an area's performance. AreaSearch has identified 12 such projects likely impacting the region. Notable ones include North East Link, 149 McKimmies Road Residential Precinct, RMIT University Bundoora Campus Developments, and La Trobe University City of the Future. The following list details those most relevant.

Professional plan users can use the search below to filter and access additional projects.

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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 was 1.5% as of December 2025. Employment grew by an estimated 2.1% over the past year, according to AreaSearch's aggregation of statistical area data.

As of December 2025, 6,036 residents were employed with an unemployment rate of 3.3%, below Greater Melbourne's rate of 4.8%. Workforce participation was 67.9%, slightly below Greater Melbourne's 69.9%. A high 42.1% of residents worked from home, potentially influenced by Covid-19 lockdowns. Dominant employment sectors include health care & social assistance, professional & technical services, and education & training.

Notably, education & training has a concentration 1.3 times the regional average. Conversely, manufacturing represents only 5.0%, below the regional average of 7.2%. Over the year to December 2025, employment increased by 2.1% while labour force grew by 1.9%, reducing the unemployment rate by 0.2 percentage points. In contrast, Greater Melbourne saw employment growth of 2.4% and labour force growth of 2.8%, with a slight rise in unemployment to 5.1%. Jobs and Skills Australia's national employment forecasts from May-25 suggest potential future demand within Macleod. Applying these projections to Macleod's employment mix indicates local employment could increase by 7.1% over five years and 14.4% over ten years, assuming constant population projections.

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 ATO data released for financial year 2023, Macleod had a median income among taxpayers of $62,692 and an average level of $83,053. These figures are among the highest in Australia, compared to Melbourne's median of $57,688 and average of $75,164. Based on Wage Price Index growth since financial year 2023, current estimates as of March 2026 would be approximately $68,723 (median) and $91,043 (average). According to the 2021 Census, incomes in Macleod cluster around the 65th percentile nationally. In terms of income distribution, 28.8% of residents fall within the $1,500 - $2,999 range, aligning with regional trends where this cohort represents 32.8%. The suburb demonstrates affluence with 31.6% earning over $3,000 per week, supporting premium retail and service offerings. After housing expenses, 85.1% of income remains for other expenses. The area'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), compared 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 recorded at $396, compared to Melbourne metro's $390. Nationally, Macleod's mortgage repayments were significantly higher than the Australian average of $1,863, while rents exceeded 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 percent of all households, including 34.5 percent couples with children, 24.7 percent couples without children, and 9.6 percent single parent families. Non-family households constitute the remaining 30.4 percent, with lone person households at 27.3 percent and group households making up 3.0 percent of the total. The median household size is 2.5 people, which is 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 exceeds broader benchmarks. Among residents aged 15+, 43.1% possess university qualifications, compared to Australia's 30.4% and the SA4 region's 32.8%. This 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+ holding such qualifications – advanced diplomas at 11.1% and certificates at 14.2%. Educational participation is notably high, with 27.8% of residents currently enrolled in formal education. 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

The analysis of public transportation in Macleod shows that there are currently 40 operational transport stops serving the area. These stops facilitate a variety of bus routes, with a total of five individual routes providing service. Collectively, these routes accommodate approximately 2,575 weekly passenger trips. The accessibility of public transportation in Macleod is considered good, with residents typically located around 225 meters from their nearest transport stop. As a primarily residential area, most commuters travel outward. The car remains the dominant mode of transportation, used by 83% of residents, while 11% utilize the train.

On average, there are 1.3 vehicles per dwelling in Macleod. According to the 2021 Census, a significant portion of residents, specifically 42.1%, work from home, which may be influenced by COVID-19 conditions. The service frequency across all routes averages about 367 trips per day, equating to roughly 64 weekly trips per individual 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, aligning with national benchmarks for mortality rates and health conditions. Common health conditions are low among the general population but higher among older, at-risk cohorts compared to national averages.

Private health cover is exceptionally high at 60% of Macleod's total population (6,348 people), compared to Greater Melbourne's 56.7%. The most prevalent medical conditions are mental health issues and arthritis, affecting 9.0 and 7.9% of residents respectively. 68.1% of residents report no medical ailments, compared to Greater Melbourne's 72.6%. Under-65 residents have better-than-average health outcomes. Macleod has a higher proportion of seniors aged 65 and over at 19.8%, compared to Greater Melbourne's 15.0%. Health outcomes among seniors present 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 had a higher cultural diversity than most local markets, with 26.3% of its population born overseas and 23.0% speaking a language other than English at home. Christianity was the predominant religion in Macleod, making up 48.9% of the population. However, Judaism was notably overrepresented, comprising 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 also notable differences in the representation of certain ethnic groups: Macedonian was overrepresented at 1.6% compared to 0.7% regionally, Croatian at 1.4% versus 0.7%, and Italian at 8.1% versus 5.2%.

Macleod's median age exceeds the national pattern

Macleod's median age is 41 years, which is significantly higher than Greater Melbourne's average of 37 and somewhat older than Australia's median of 38. Compared to Greater Melbourne, Macleod has a notably over-represented 85+ cohort at 4.1% and an under-represented 25-34 age group at 12.3%. Post the 2021 Census, the 15-24 age group grew from 10.7% to 14.2%, while the 0-4 cohort declined from 5.9% to 4.9%. By 2041, Macleod's age profile is projected to change significantly. The 45-54 cohort is expected to grow by 49%, adding 707 residents to reach a total of 2,146.