Princes Hill

Princes Hill is positioned among the lower quartile of areas assessed nationally for population growth based on AreaSearch's assessment of recent, and medium term trends

The suburb of Princes Hill had an estimated population of around 2,132 as of November 2025, according to AreaSearch's analysis of ABS population updates and new addresses. This figure reflects a growth of 127 people since the 2021 Census, which reported a population of 2,005. The increase was inferred from the estimated resident population of 2,132, based on AreaSearch's examination of the latest ERP data release by the ABS in June 2024 and an additional two validated new addresses since the Census date. This results in a population density ratio of 4,958 persons per square kilometer, placing Princes Hill within the top 10% of national locations assessed by AreaSearch. The suburb's growth rate of 6.3% since the census is within 2.6 percentage points of the national average (8.9%), indicating strong growth fundamentals. Overseas migration contributed approximately 87.0% of overall population gains during recent periods, driving primary growth in Princes Hill.

AreaSearch adopted 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 utilised the VIC State Government's Regional/LGA projections from 2023, adjusting with a method of weighted aggregation of population growth from LGA to SA2 levels. Growth rates by age group were applied across all areas for years 2032 to 2041. Based on these projected demographic shifts, Princes Hill is forecasted to experience significant population increase, with an expected expansion of 497 persons by 2041, reflecting a total increase of 22.4% over the 17-year period.

The level of residential development activity in Princes Hill is very low in comparison to the average area assessed nationally by AreaSearch

Princes Hill has seen approximately one dwelling receiving development approval annually over the past five financial years, totalling six homes. No approvals have been recorded so far in FY26. The population has declined recently, but housing supply has remained adequate relative to demand, resulting in a balanced market with good buyer choice. Developers are targeting the premium market segment, with new properties constructed at an average cost of $1,384,000.

This financial year, Princes Hill recorded $39.8 million in commercial development approvals, indicating strong commercial development momentum. Compared to Greater Melbourne, Princes Hill has significantly lower building activity, with 92.0% below the regional average per person. This scarcity typically strengthens demand and prices for existing properties, though building activity has increased recently.

Looking forward, Princes Hill is projected to grow by 477 residents by 2041. At current development rates, housing supply may struggle to match population growth, potentially intensifying buyer competition and supporting price increases.

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

No changes can influence a region's performance more than alterations to local infrastructure, significant projects, and planning initiatives. AreaSearch has identified zero projects that could potentially impact this area. Key projects include Brunswick Level Crossing Removal - Upfield Line (8 Crossings), M205 Carlton Water Main Renewal, Parkville Quarter, and Errol Street Private Hospital, with the following list detailing those most likely to be relevant.

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

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AreaSearch analysis reveals Princes Hill recording weaker employment conditions than most comparable areas nationwide

Princes Hill has a highly educated workforce with notable representation in the technology sector. Its unemployment rate was 7.4% as of June 2025, which is 2.7% higher than Greater Melbourne's rate of 4.6%.

Employment growth over the past year was estimated at 5.0%. The area has a similar workforce participation rate to Greater Melbourne, at 64.1%. Key industries of employment among residents are professional & technical, health care & social assistance, and education & training. Professional & technical services have particularly high concentration with levels at 1.8 times the regional average.

However, construction has limited presence in Princes Hill, with only 3.4% employment compared to the regional average of 9.7%. Employment opportunities locally may be limited as indicated by the count of Census working population versus resident population. Over the 12 months to June 2025, employment increased by 5.0%, while labour force increased by 6.7%, causing unemployment rate to rise by 1.5 percentage points. In comparison, Greater Melbourne recorded employment growth of 3.5% and unemployment rose by 0.5 percentage points. Jobs and Skills Australia's national employment forecasts from Sep-22 offer insights into potential future demand within Princes Hill. These projections suggest national employment should expand by 6.6% over five years and 13.7% over ten years. Applying these industry-specific projections to Princes Hill's employment mix suggests local employment should increase by 7.3% over five years and 14.8% over ten years, though this is a simple weighting extrapolation for illustrative purposes and does not account for localised population projections.

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

AreaSearch's data for financial year 2022 shows Princes Hill's median income at $61,106 and average income at $100,381. This is higher than Greater Melbourne's median of $54,892 and average of $73,761. By September 2025, estimated incomes are approximately $68,536 (median) and $112,587 (average), based on a 12.16% Wage Price Index growth since financial year 2022. Census data ranks Princes Hill's household, family, and personal incomes between the 79th and 88th percentiles nationally. Income distribution shows 28.3% of locals earn over $4000 weekly, contrasting with the broader area where 32.8% earn between $1500 - $2999 weekly. Princes Hill's affluence is evident with 37.6% earning over $3000 weekly, supporting premium retail and services. Housing accounts for 14.8% of income, and residents rank in the 79th percentile for disposable income. The area's SEIFA income ranking places it in the 8th decile.

Princes Hill displays a diverse mix of dwelling types, with above-average rates of outright home ownership

Princes Hill's dwelling structure in the latest Census showed 14.1% houses and 85.9% other dwellings. In comparison, Melbourne metro had 12.8% houses and 87.2% other dwellings. Home ownership in Princes Hill was 37.3%, with mortgaged dwellings at 17.3% and rented ones at 45.3%. The median monthly mortgage repayment in the area was $3,000, compared to Melbourne metro's $2,326. The median weekly rent figure for Princes Hill was $462, while Melbourne metro recorded $451. Nationally, Princes Hill's mortgage repayments were higher at $3,000 against Australia's average of $1,863, and rents were substantially above the national figure of $375.

Princes Hill features high concentrations of group households and lone person households, with a higher-than-average median household size

Family households account for 57.1% of all households, including 20.0% couples with children, 28.2% couples without children, and 7.7% single parent families. Non-family households constitute the remaining 42.9%, with lone person households at 32.1% and group households making up 10.7%. The median household size is 2.2 people, larger than the Greater Melbourne average of 2.0.

Princes Hill shows strong educational performance, ranking in the upper quartile nationally when assessed across multiple qualification and achievement indicators

Educational attainment in Princes Hill is notably high, with 63.4% of residents aged 15+ having university qualifications compared to national figures of 30.4% and state averages at 33.4%. Bachelor degrees are the most common at 35.1%, followed by postgraduate qualifications (22.7%) and graduate diplomas (5.6%). Technical qualifications make up 14.5% of educational achievements, including advanced diplomas (6.7%) and certificates (7.8%). Educational participation is high with 29.5% of residents currently enrolled in formal education, comprising 12.4% in tertiary education, 6.6% in primary education, and 5.6% pursuing secondary education.

The area has two schools serving a total of 1,170 students: Princes Hill Primary School and Princes Hill Secondary College. These schools demonstrate high educational performance with an ICSEA score of 1150, indicating they are among the most advantaged nationally. Educational provision follows conventional lines, with one primary and one secondary institution. The area functions as an education hub with a significantly higher ratio of school places per resident compared to regional averages: 54.9 places per 100 residents versus 10.3 respectively.

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

Princes Hill has two active public transport stops operating within its boundaries. These stops offer a mix of light rail services, with two individual routes serving them collectively facilitating 1,400 weekly passenger trips. Transport accessibility in Princes Hill is rated as good, with residents typically located an average of 246 meters from the nearest transport stop.

The service frequency averages 200 trips per day across all routes, equating to approximately 700 weekly trips per individual stop.

The level of general health in Princes Hill is notably higher than the national average with both young and old age cohorts seeing low prevalence of common health conditions

Princes Hill shows superior health outcomes for both young and elderly cohorts, with low prevalence of common conditions. Approximately 66% (1,414 people) have private health cover, higher than Greater Melbourne's 69.8% but lower than the national average of 55.3%. Mental health issues and asthma are most prevalent at 9.8% and 7.6%, respectively, with 68.3% reporting no medical ailments, compared to 70.6% in Greater Melbourne.

The area has a higher proportion of seniors aged 65 and over at 21.3% (454 people), versus Greater Melbourne's 12.1%. Health outcomes among seniors are notably strong, outperforming the general population in health metrics.

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

Princes Hill, surveyed in June-August 2016, had above-average cultural diversity with 22.9% of its population born overseas and 16.0% speaking a language other than English at home. Christianity was the predominant religion, making up 32.0% of Princes Hill's population. Judaism, however, was overrepresented at 1.0%, compared to Greater Melbourne's 0.8%.

The top three ancestry groups were English (23.7%), Australian (17.3%), and Irish (13.1%). Notable divergences included Italian (9.4% vs regional 4.8%), Polish (1.2% vs 0.9%), and Scottish (9.3% vs 8.6%) groups.

Princes Hill's population is slightly older than the national pattern

The median age in Princes Hill is 38 years, close to Greater Melbourne's average of 37 and equivalent to Australia's median of 38. Compared to Greater Melbourne, Princes Hill has a higher proportion of 25-34 year-olds (22.8%) but fewer 5-14 year-olds (7.2%). This concentration of 25-34 year-olds is above the national average of 14.5%. Between the 2021 Census and present, the proportion of 25 to 34 year-olds has increased from 19.4% to 22.8%, while the 75 to 84 age group has risen from 6.4% to 8.0%. Conversely, the 45 to 54 age group has decreased from 11.0% to 9.3% and the 5 to 14 age group has fallen from 8.7% to 7.2%. By 2041, Princes Hill's age composition is expected to change significantly. The 45 to 54 age group is projected to grow by 46%, adding 91 people and reaching 290 from 198. Meanwhile, the 15 to 24 age group is expected to decrease by 6 residents.