Prahran

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

Based on ABS population updates and AreaSearch validations, as of November 2025, Prahran's estimated population is around 13,866. This reflects a growth of 1,663 people since the 2021 Census, which reported a population of 12,203. The increase is inferred from AreaSearch's estimate of 13,789 residents following examination of ABS' June 2024 ERP data release and an additional 669 validated new addresses since the Census date. This results in a density ratio of 7,454 persons per square kilometer, placing Prahran in the top 10% of national locations assessed by AreaSearch. Prahran's 13.6% growth since the 2021 census exceeded both national (9.7%) and state averages, marking it as a growth leader. Overseas migration contributed approximately 90.0% of overall population gains during recent periods.

AreaSearch adopts 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 utilises the VIC State Government's Regional/LGA projections from 2023 with adjustments made employing weighted aggregation methods to reach SA2 levels. Growth rates by age group are applied across all areas for years 2032 to 2041. Projecting forward, an above median population growth is expected in the Prahran statistical area (Lv2), with a projected increase of 2,745 persons to 2041 based on aggregated SA2-level projections, reflecting a total increase of 16.0% over the 17 years.

AreaSearch assessment of residential approval activity sees Prahran among the top 30% of areas assessed nationwide

AreaSearch analysis shows Prahran averaged around 200 new dwelling approvals annually. Between FY-21 and FY-25, approximately 1,000 homes were approved, with another 62 approved in FY-26 to date. This new supply has likely kept pace with demand despite population decline, offering good choice for buyers.

The average construction cost value of new homes is $800,000, indicating a focus on the premium segment. In FY-26, Prahran registered $103.7 million in commercial approvals, reflecting high local commercial activity. Compared to Greater Melbourne, Prahran's construction levels are 33.0% above the regional average per person over the past five years, supporting existing property values and indicating robust developer interest. New development consists of 3.0% detached dwellings and 97.0%, attached dwellings, marking a significant shift from current housing patterns (18.0% houses). This denser development provides accessible entry options appealing to downsizers, investors, and entry-level buyers. Prahran has approximately 74 people per dwelling approval, suggesting an expanding market.

Population forecasts indicate Prahran will gain 2,220 residents by 2041. With current construction levels, housing supply should meet demand adequately, creating favourable conditions for buyers while potentially enabling growth exceeding current forecasts.

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

Area infrastructure changes significantly influence local performance. By AreaSearch, 55 projects were identified as potentially impacting the area. Notable projects include Grandview Prahran, Essex Street Public Housing Redevelopment, Prahran Market Restoration, and Chomley Terraces. The following details projects likely most 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.

AreaSearch analysis indicates Prahran maintains employment conditions that align with national benchmarks

Prahran has a highly educated workforce. The technology sector is notably represented.

The unemployment rate was 4.4% in the past year. Employment growth was estimated at 4.2%. As of September 2025, 9,685 residents were employed with an unemployment rate of 4.7%, 0.2% below Greater Melbourne's rate. Workforce participation was 75.7%, higher than Greater Melbourne's 64.1%.

Dominant employment sectors include professional & technical, health care & social assistance, and retail trade. Professional & technical had a share of 1.8 times the regional level. Manufacturing's presence was limited at 3.3% compared to 7.2% regionally. Many residents commute elsewhere for work based on Census data. During the year to September 2025, employment levels increased by 4.2%, labour force by 4.9%, and unemployment rose by 0.6 percentage points in Prahran. Greater Melbourne recorded employment growth of 3.0% with a 0.3 percentage point increase in unemployment. State-level data to 25-Nov shows VIC employment grew by 1.13% year-on-year, with an unemployment rate of 4.7%. National employment forecasts suggest Prahran's employment should increase by 7.3% over five years and 14.6% over ten years based on industry-specific projections.

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

In AreaSearch's latest postcode level ATO data released for financial year 2023, Prahran's median income among taxpayers is $72,576. The average income in the suburb is $107,767. Nationally, this places Prahran in the top percentile. Compared to Greater Melbourne's median of $57,688 and average of $75,164, Prahran residents have higher incomes. Based on Wage Price Index growth since financial year 2023, current estimates for Prahran would be approximately $78,564 (median) and $116,658 (average) as of September 2025. According to census data, individual earnings in Prahran stand out at the 96th percentile nationally ($1,378 weekly). The income bracket of $1,500 - 2,999 dominates with 33.2% of residents (4,603 people), reflecting patterns seen in the broader area where 32.8% similarly occupy this range. Prahran demonstrates considerable affluence with 33.4% earning over $3,000 per week, supporting premium retail and service offerings. High housing costs consume 17.0% of income, but strong earnings still place disposable income at the 72nd percentile nationally. The area's SEIFA income ranking places it in the 9th decile.

Prahran features a more urban dwelling mix with significant apartment living, with a higher proportion of rental properties than the broader region

Prahran's dwelling structure in its latest Census evaluation consisted of 18.3% houses and 81.6% other dwellings (semi-detached, apartments, 'other' dwellings), contrasting with Melbourne metro's 16.9% houses and 83.1% other dwellings. Home ownership in Prahran stood at 20.2%, with mortgaged dwellings at 24.5% and rented ones at 55.3%. The median monthly mortgage repayment was $2,274, below Melbourne metro's average of $2,287. Median weekly rent was $421, compared to Melbourne metro's $425. Nationally, Prahran's mortgage repayments were higher than the Australian average of $1,863, and rents were substantially above the national figure of $375.

Prahran features high concentrations of lone person households and group households, with a lower-than-average median household size

Family households constitute 44.2% of all households, including 12.5% couples with children, 25.9% couples without children, and 4.5% single parent families. Non-family households account for the remaining 55.8%, with lone person households at 45.5% and group households comprising 10.2% of the total. The median household size is 1.8 people, which is smaller than the Greater Melbourne average of 1.9.

Educational achievement in Prahran places it within the top 10% nationally, reflecting strong academic performance and high qualification levels across the community

Prahran's residents aged 15+ have a higher university qualification rate at 59.7%, compared to Australia's 30.4% and Victoria's 33.4%. This is driven by bachelor degrees (40.4%), postgraduate qualifications (14.7%), and graduate diplomas (4.6%). Vocational pathways account for 18.6%, including advanced diplomas (9.7%) and certificates (8.9%). A significant 23.9% of Prahran's population is actively pursuing formal education, with 10.6% in tertiary, 3.7% in primary, and 3.4% in secondary education.

A substantial 23.9% of the population actively pursues formal education. This includes 10.6% in tertiary education, 3.7% in primary education, and 3.4% pursuing secondary education.

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

Prahran has 53 operational public transport stops. These include train, light rail, and bus services. There are 10 unique routes serving these stops, which together facilitate 9,319 weekly passenger trips.

Residents enjoy excellent transport accessibility, with an average distance of 133 meters to the nearest stop. The service frequency is 1,331 trips daily across all routes, translating to about 175 weekly trips per individual stop.

Prahran's residents boast exceedingly positive health performance metrics with very low prevalence of common health conditions across all age groups

Prahran demonstrates excellent health outcomes across all age groups, with a very low prevalence of common health conditions. Private health cover stands at approximately 69% of Prahran's total population (9596 people), compared to Greater Melbourne's 80.3%. Nationally, the average is 55.7%.

Mental health issues and asthma are the most prevalent medical conditions in Prahran, affecting 10.2% and 7.9% of residents respectively. Overall, 72.8% of Prahran residents report no medical ailments, compared to Greater Melbourne's 73.3%. As of 30 June 20XX, Prahran has 12.5% (1733 people) of its population aged 65 and over, lower than Greater Melbourne's 16.3%. Senior health outcomes in Prahran are strong and align with the general population's health profile.

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

Prahran's population showed higher cultural diversity than most local markets, with 20.4% speaking a language other than English at home and 33.1% born overseas. Christianity was the predominant religion in Prahran, accounting for 34.8%. Notably, Judaism was overrepresented compared to Greater Melbourne, comprising 3.5% of Prahran's population versus 5.1%.

The top three ancestry groups were English (24.9%), Australian (17.4%), and Other (10.5%). Some ethnic groups showed notable differences: Polish was slightly higher at 1.6%, French remained the same at 1.0%, and Hungarian also stayed consistent at 0.5%.

Prahran hosts a young demographic, positioning it in the bottom quartile nationwide

Prahran's median age is 33, which is younger than Greater Melbourne's figure of 37 and Australia's national average of 38 years. Compared to Greater Melbourne, Prahran has a higher proportion of residents aged 25-34 (33.0%), but fewer residents aged 5-14 (3.9%). This concentration of 25-34 year-olds is significantly higher than the national figure of 14.5%. Between the 2021 Census and the present, the proportion of Prahran's population aged 25 to 34 has increased from 31.2% to 33.0%, while the proportion of those aged 45 to 54 has decreased from 10.9% to 9.6%. By 2041, population forecasts indicate substantial demographic shifts in Prahran. The 25 to 34 age group is projected to grow by 11%, adding 505 residents and reaching a total of 5,081. Conversely, the 15 to 24 age group is expected to decrease by 71 residents.