Parkville (Vic.)

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

Parkville's population, as of November 2025, is estimated at around 7,976 people. This figure reflects a growth of 902 individuals since the 2021 Census, which reported a population of 7,074. The increase was inferred from AreaSearch's estimation of the resident population as 8,064 following examination of ABS ERP data released in June 2024 and address validation since the Census date. This results in a density ratio of 1,994 persons per square kilometer, higher than average national levels assessed by AreaSearch. Parkville's growth rate of 12.8% since the 2021 census exceeded both national (8.9%) and state averages, positioning it as a regional growth leader. Overseas migration was the primary driver of population gains in recent periods.

AreaSearch uses 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, adjusting using weighted aggregation methods to SA2 levels. Growth rates by age group are applied across all areas for years 2032 to 2041. Future projections indicate above median population growth nationally, with Parkville expected to grow by 1,859 persons to 2041, reflecting a total increase of 24.2% 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

AreaSearch analysis of ABS building approval numbers, allocated from statistical area data, shows Parkville recorded around 32 residential properties granted approval per year. Over the past five financial years, between FY-21 and FY-25, approximately 160 homes were approved, with none yet in FY-26. This results in an average of about 0.1 new residents per year per dwelling constructed during these years.

The new supply is keeping pace with or exceeding demand, providing ample buyer choice and creating capacity for population growth beyond current forecasts. In the current financial year, $90,000 in commercial development approvals have been recorded, indicating minimal commercial development activity.

Recent development has been entirely comprised of medium and high-density housing, offering more affordable entry points and suiting downsizers, investors, and first-home buyers. According to AreaSearch's latest quarterly estimate, Parkville is expected to grow by 1,932 residents through to 2041. Construction pace is maintaining reasonable alignment with projected growth, though buyers may face increasing competition as population increases.

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

The performance of an area can significantly be influenced by changes in local infrastructure, major projects, and planning initiatives. AreaSearch has identified a total of 68 projects that are expected to impact the area. Notable projects include the Australian Institute for Infectious Disease (AIID), Parkville Quarter, Parkside Parkville Residential Development, and Royal Park Master Plan Review. The following list details those projects likely to be most relevant.

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

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The labour market in Parkville demonstrates typical performance when compared to similar areas across Australia

Parkville's workforce is highly educated with strong representation in professional services. The unemployment rate was 5.0% as of June 2024, with an estimated employment growth of 6.9% over the past year, according to AreaSearch aggregation of statistical area data.

As of June 2025, 5,239 residents are employed while the unemployment rate is 0.4% higher than Greater Melbourne's rate of 4.6%. Workforce participation in Parkville is fairly standard at 66.2%, compared to Greater Melbourne's 64.1%. Leading employment industries among residents include education & training, accommodation & food, and professional & technical services. The area has a particular specialization 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 9.7% in Greater Melbourne. There are 4.4 workers for every resident in Parkville, indicating it functions as an employment hub hosting more jobs than residents and attracting workers from surrounding areas. Between June 2024 and June 2025, employment levels increased by 6.9% while the labour force grew by 7.1%, causing the unemployment rate to rise by 0.1 percentage points. In comparison, Greater Melbourne recorded employment growth of 3.5%, labour force growth of 4.0%, with unemployment rising 0.5 percentage points. Jobs and Skills Australia's national employment forecasts from Sep-22 project national employment expansion by 6.6% over five years and 13.7% over ten years, with varying growth rates between industry sectors. 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.

The area's income profile falls below national averages based on AreaSearch analysis

Parkville's median income among taxpayers was $47,413 in financial year 2022. The average income was $81,299 during the same period. These figures are among the highest in Australia. Comparing with Greater Melbourne, Parkville's median income is lower by $7,479 and the average is higher by $7,538. Based on Wage Price Index growth of 12.16% from financial year 2022 to September 2025, current estimates for Parkville would be approximately $53,178 (median) and $91,185 (average). According to the 2021 Census figures, individual incomes at the 10th percentile were $586 weekly, while household incomes were at the 58th percentile. Income brackets show that 35.2% of Parkville residents earned between $1,500 and $2,999 per week (2,807 individuals), which is slightly higher than the surrounding region's 32.8%. Housing costs consume 17.6% of income in Parkville, but strong earnings place disposable income at the 57th percentile. The area's SEIFA income ranking places it in the 7th decile.

Parkville features a more urban dwelling mix with significant apartment living, with above-average rates of outright home ownership

Parkville's dwelling structure, as per the latest Census, consisted of 2.2% houses and 97.8% other dwellings (semi-detached, apartments, 'other' dwellings). In contrast, Melbourne metro had 0.0% houses and 0.0% other dwellings. Home ownership in Parkville was at 18.8%, with mortgaged dwellings at 14.8% and rented ones at 66.5%. The median monthly mortgage repayment was $2,000, aligning with Melbourne metro's average, while the median weekly rent was $396, compared to Melbourne metro's figures of $0 for both. Nationally, Parkville's mortgage repayments exceeded the Australian average of $1,863, and rents surpassed 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 make up the remaining 52.3%, consisting of 36.2% lone person households and 16.0% group households. 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's educational attainment significantly exceeds national and state averages. 51.2% of residents aged 15+ have university qualifications, compared to Australia's 30.4% and Victoria's 33.4%. Bachelor degrees are the most common at 27.9%, followed by postgraduate qualifications (20.4%) and graduate diplomas (2.9%). Technical qualifications represent 11.3%, including advanced diplomas (5.5%) and certificates (5.8%).

Educational participation is high, 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. Six schools operate within Parkville, educating approximately 1,915 students. The area has significant socio-educational advantages and academic achievement (ICSEA: 1121). Secondary education dominates with six schools, while primary students typically attend schools in adjacent catchments. With 24 school places per 100 residents, Parkville shows strong educational infrastructure serving both local and surrounding communities.

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 22 individual routes that collectively facilitate 17,081 weekly passenger trips. The average distance from residents to the nearest transport stop is 148 meters, indicating excellent accessibility.

Service frequency averages 2,440 trips per day across all routes, translating to approximately 341 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

Analysis shows strong health performance in Parkville, with low prevalence of common conditions among the general population but higher than national averages among older cohorts at risk.

Private health cover is exceptionally high at approximately 59% of the total population (4697 people). Mental health issues and asthma are the most common medical conditions, affecting 12.0% and 8.7% of residents respectively. 72.0% report no medical ailments compared to 0% in Greater Melbourne. The area has 8.5% seniors (aged 65 and over) totaling 677 people. Health outcomes among seniors require more attention than the broader population.

Parkville is among the most culturally diverse areas in the country based on AreaSearch assessment of a range of language and cultural background related metrics

Parkville has high cultural diversity, with 30.2% speaking a language other than English at home and 39.2% born overseas. Christianity is the main religion, comprising 28.6%. Judaism is overrepresented at 0.4%, compared to none in Greater Melbourne.

The top three ancestral groups are English (21.1%), Australian (17.9%), and Other (12.7%). Hungarian, Chinese, and Korean groups are notably overrepresented at 0.4%, 9.5%, and 0.7% respectively, compared to none regionally.

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 at 43.2%, but fewer residents aged 5-14 at 3.2%. This concentration of 15-24 year-olds is well above the national average of 12.5%. Since the 2021 Census, younger residents have shifted Parkville's median age down by 1.6 years to 24. The 15 to 24 age group has grown from 39.0% to 43.2%, while the 65 to 74 cohort has declined from 4.5% to 3.6%. By 2041, Parkville's age composition is expected to see notable shifts. The 25 to 34 group is projected to grow by 27%, adding 481 people and reaching a total of 2,292 from the previous count of 1,810.