Parkville (Vic.)

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

The population of the Parkville (Vic.) statistical area (Lv2) is estimated to be around 8,103 as of Nov 2025. This figure reflects an increase of 1,029 people since the 2021 Census, which reported a population of 7,074 people. The current resident population estimate of 8,066 is based on AreaSearch's analysis of the latest ERP data release by the ABS (June 2024) and address validation since the Census date. This results in a population density ratio of 2,025 persons per square kilometer, higher than the average seen across national locations assessed by AreaSearch. The Parkville (Vic.) (SA2) has experienced a growth rate of 14.5% since the 2021 Census, surpassing both the national average of 9.7% and the state's growth rate. Overseas migration was the primary driver of population gains in the area during recent periods.

AreaSearch is using 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 released in 2023 adjusted through weighted aggregation for areas not covered by the ABS data. Future population growth projections indicate an above median increase for statistical areas across the nation, with the Parkville (Vic.) (SA2) expected to grow by 1,859 persons to 2041, reflecting a total increase of 22.3% over the 17-year period.

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

Parkville recorded approximately 32 residential properties granted approval annually between FY-21 and FY-25. During this period, around 160 homes were approved. No residential approvals have been recorded in FY-26 so far.

On average, 0.1 new residents per year per dwelling constructed were recorded over the past five financial years. This indicates that new supply is meeting or exceeding demand, providing ample buyer choice and capacity for population growth beyond current forecasts.

In FY-26, $323.7 million in commercial development approvals have been recorded, suggesting strong commercial development momentum. Recent development has consisted entirely of medium and high-density housing, creating more affordable entry points for downsizers, investors, and first-home buyers. By 2041, Parkville is projected to grow by 1,805 residents, according to the latest AreaSearch quarterly estimate. Construction pace is maintaining reasonable alignment with projected growth, although increasing population may lead to growing competition among buyers.

Parkville has very high levels of nearby infrastructure activity, ranking in the top 10% nationally

Changes to local infrastructure significantly impact an area's performance. AreaSearch has identified 68 projects likely affecting the region. Notable initiatives include Australian Institute for Infectious Disease (AIID), Parkville Quarter, Parkside Parkville Residential Development, and Royal Park Master Plan Review. 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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Employment conditions in Parkville remain below the national average according to AreaSearch analysis

Parkville has a highly educated workforce with professional services well represented. Its unemployment rate was 5.1% in the past year, showing an estimated employment growth of 5.3%.

As of September 2025, 5,170 residents are employed, with an unemployment rate of 5.1%, which is 0.4% higher than Greater Melbourne's rate of 4.7%. Workforce participation in Parkville stands at 66.2%, compared to Greater Melbourne's 64.1%. The leading employment industries among residents are education & training, accommodation & food, and professional & technical services. Notably, the area specializes in accommodation & food, with an employment share of 2.2 times the regional level.

Conversely, construction is under-represented, with only 3.7% of Parkville's workforce compared to Greater Melbourne's 9.7%. There are 4.4 workers for every resident, indicating that Parkville functions as an employment hub hosting more jobs than residents and attracting workers from surrounding areas. In the year to September 2025, employment levels in Parkville increased by 5.3%, while the labour force grew by 5.0%. This resulted in a decrease of 0.2 percentage points in the unemployment rate. In comparison, Greater Melbourne recorded employment growth of 3.0%, with a labour force growth of 3.3% and an increase of 0.3 percentage points in unemployment. Providing broader context, state-level data from 25-Nov shows that Victoria's employment grew by 1.13% year-on-year, adding 41,950 jobs, with the state unemployment rate at 4.7%. Nationally, employment growth was 0.14%, and the national unemployment rate stood at 4.3%. Jobs and Skills Australia's national employment forecasts from May-25 project a 6.6% increase in employment over five years and a 13.7% increase over ten years. Applying these projections to Parkville's employment mix suggests local employment should increase by 6.9% over five years and 14.0% over ten years, although these are simple weighting extrapolations for illustrative purposes and do not account for localized population projections.

Income levels sit below national averages according to AreaSearch assessment

Parkville's median income among taxpayers was $47,413 in financial year 2023. The average income was $81,299. These figures were released by AreaSearch based on postcode level ATO data and are among the highest in Australia. In comparison, Greater Melbourne had a median income of $57,688 and an average income of $75,164 during the same period. By September 2025, estimates suggest that Parkville's median income will be approximately $51,325 and the average income will reach around $88,006, based on a Wage Price Index growth rate of 8.25%. According to the 2021 Census figures, individual incomes at the 10th percentile were $586 weekly, while household incomes were at the 58th percentile. The income bracket of $1,500 - 2,999 captures 35.2% of Parkville's community, with 2,852 individuals falling within this range. This is similar to the surrounding region where 32.8% of people occupy this income bracket. Housing costs consume 17.6% of income in Parkville. Despite high housing costs, disposable income remains at the 57th percentile. The area's SEIFA income ranking places it in the 6th decile.

Parkville features a more urban dwelling mix with significant apartment living, with a predominantly rental market

Parkville's dwelling structure, as per the latest Census data, consisted of 2.2% houses and 97.8% other dwellings such as semi-detached homes, apartments, and 'other' dwellings. Home ownership in Parkville stood at 18.8%, with 14.8% of dwellings mortgaged and 66.5% rented. The median monthly mortgage repayment in the area was $2,000, while the median weekly rent was recorded at $396. Nationally, Parkville's mortgage repayments exceeded the Australian average of $1,863, with rents also surpassing the national figure of $375.

Parkville features high concentrations of group households and lone person households, with a median household size of 2.1 people

Family households account for 47.7% of all households, including 14.5% couples with children, 25.9% couples without children, and 5.4% single parent families. Non-family households constitute the remaining 52.3%, with lone person households at 36.2% and group households making up 16.0%. The median household size is 2.1 people.

The educational profile of Parkville exceeds national averages, with above-average qualification levels and academic performance metrics

Parkville has a higher proportion of residents with university qualifications than Australia and Victoria. Specifically, 51.2% of Parkville's residents aged 15 and above have such qualifications, compared to 30.4% nationally and 33.4% in Victoria. This educational advantage is driven by Bachelor degrees (27.9%), postgraduate qualifications (20.4%), and graduate diplomas (2.9%). Technical qualifications make up 11.3% of residents' educational achievements, with advanced diplomas accounting for 5.5% and certificates for 5.8%.

Educational participation is high in Parkville, with 51.8% of residents currently enrolled in formal education. This includes 41.4% in tertiary education, 3.2% in secondary education, and 2.9% pursuing primary education.

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

Parkville has 50 active public transport stops offering a mix of train, light rail, and bus services. These stops are served by 20 different routes, which together facilitate 25,302 weekly passenger trips. The accessibility of transport in Parkville is rated excellent, with residents on average located just 148 meters from their nearest transport stop.

Across all routes, service frequency averages 3,614 trips per day, equating to approximately 506 weekly trips per individual stop.

Parkville's residents are extremely healthy with prevalence of common health conditions low among the general population though higher than the nation's average across older, at risk cohorts

Parkville exhibits robust health metrics with low prevalence of common conditions among its general population.

However, older and at-risk cohorts have higher rates compared to national averages. Approximately 59% (4,772 individuals) of Parkville's total population has private health cover, which is exceptionally high. Mental health issues affect 12.0% of residents, followed by asthma impacting 8.7%. Notably, 72.0% declare no medical ailments, contrasting with Greater Melbourne's 0%. The area has 8.5% (688 individuals) aged 65 and over, presenting some health challenges requiring additional attention compared to the broader population.

Parkville was found to be more culturally diverse than the vast majority of local markets in Australia, upon assessment of a range of language and cultural background related metrics

Parkville has a high level of cultural diversity, with 30.2% of its population speaking a language other than English at home and 39.2% born overseas. The predominant religion in Parkville is Christianity, accounting for 28.6% of the population. Notably, Judaism is overrepresented in Parkville at 0.4%, compared to None% across Greater Melbourne.

In terms of ancestry, the top three groups are English (21.1%), Australian (17.9%), and Other (12.7%). Some ethnic groups show significant differences: Hungarian is notably overrepresented at 0.4% in Parkville (vs None% regionally), Chinese at 9.5% (vs None%), and Korean at 0.7% (vs None%).

Parkville hosts a very young demographic, ranking in the bottom 10% of areas nationwide

Parkville's median age of 24 years is notably lower than Greater Melbourne's 37 and significantly below the national average of 38 years. Compared to Greater Melbourne, Parkville has a higher concentration of residents aged 15-24 (43.2%) but fewer residents aged 5-14 (3.2%). This concentration of 15-24 year-olds is well above the national figure of 12.5%. Since the 2021 Census, younger residents have caused a shift in median age down to 24 years. Notably, the 15 to 24 age group has grown from 39.0% to 43.2% of Parkville's population. Conversely, the 65 to 74 cohort has declined from 4.5% to 3.6%. By 2041, Parkville is expected to see significant shifts in its age composition, with the 25 to 34 group projected to grow by 25%, reaching 2,292 people from 1,839.