Albert Park

Population growth drivers in Albert Park are above average based on AreaSearch's ranking of recent, and medium to long-term trends

Based on AreaSearch's analysis, Albert Park's population is around 17,255 as of Feb 2026. This reflects an increase of 1,430 people (9.0%) since the 2021 Census, which reported a population of 15,825 people. The change is inferred from the estimated resident population of 17,184 from the ABS as of June 2024 and an additional 12 validated new addresses since the Census date. This population level equates to a density ratio of 3,694 persons per square kilometer, placing it in the upper quartile relative to national locations assessed by AreaSearch. Over the past decade, Albert Park has demonstrated resilient growth patterns with a 1.0% compound annual growth rate, outpacing the SA3 area. Population growth for the area was primarily driven by overseas migration, which contributed approximately 86.1% of overall population gains during recent periods.

AreaSearch adopts ABS/Geoscience Australia projections for each SA2 area, as released in 2024 with 2022 as the base year. For any SA2 areas not covered by this data, AreaSearch utilizes the VIC State Government's Regional/LGA projections released in 2023, with adjustments made employing a method of weighted aggregation of population growth from LGA to SA2 levels. Growth rates by age group from these aggregations are also applied across all areas for years 2032 to 2041. Anticipating future population dynamics, a significant population increase in the top quartile of statistical areas analyzed by AreaSearch is forecast, with the area expected to increase by 5,156 persons by 2041 based on the latest annual ERP population numbers, reflecting an increase of 29.5% in total over the 17 years.

AreaSearch assessment of residential development activity positions Albert Park among the top 25% of areas assessed nationwide

Albert Park has recorded around 323 residential properties granted approval each year, with 1,619 homes approved over the past 5 financial years (between FY-21 and FY-25) and 2 so far in FY-26. With an average of only 0.1 people per year moving to the area for each dwelling built over the past 5 financial years (between FY-21 and FY-25), supply is meeting or surpassing demand, providing greater buyer choice and supporting potential for population growth above projections. New homes are being built at an average value of $442,000, which is somewhat higher than regional norms, reflecting quality-focused development. There have also been $44.2 million in commercial approvals this financial year, suggesting robust local business investment.

When measured against Greater Melbourne, Albert Park has 71.0% more construction activity (per person), creating greater choice for buyers. This activity is substantially higher than nationally, suggesting strong developer confidence in the location. New development consists of 1.0% detached houses and 99.0% townhouses or apartments. This focus on higher-density living creates more affordable entry points and suits downsizers, investors, and first-home buyers. With around 26 people per dwelling approval, Albert Park shows characteristics of a growth area.

Looking ahead, Albert Park is expected to grow by 5,085 residents through to 2041 (from the latest AreaSearch quarterly estimate). With current construction levels, housing supply should adequately meet demand, creating favourable conditions for buyers while potentially enabling growth that exceeds current forecasts.

Albert Park has strong levels of nearby infrastructure activity, ranking in the top 30% nationally

Nothing can influence an area's performance as much as changes to local infrastructure, major projects, and planning initiatives. In total 55 projects have been identified by AreaSearch that are likely to have an impact on the area. Key projects include The Albertine, Four Three Seven, The Carter Building, and Four Three Seven (437 St Kilda Road), with the list below detailing those likely to be of most relevance.

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.

Albert Park ranks among the top 25% of areas assessed nationally for overall employment performance

Albert Park possesses a highly educated workforce, with professional services showing strong representation, an unemployment rate of just 2.9%, and 4.4% in estimated employment growth over the past year. As of December 2025, 10,723 residents are in work while the unemployment rate is 1.9% below Greater Melbourne's rate of 4.8%, and workforce participation is broadly similar to Greater Melbourne's 71.3%. Based on Census responses, a high 50.7% of residents were found to work from home, though Covid-19 lockdown impacts should be considered.

The key industries of employment among residents are professional & technical, health care & social assistance, and finance & insurance. The area has a particular employment specialization in professional & technical services, with an employment share 1.9 times the regional level. In contrast, construction employs just 6.2% of local workers, below Greater Melbourne's 9.7%. With 1.0 workers for every resident, as at the Census, the area functions as an employment hub, hosting more jobs than residents and attracting workers from surrounding areas.

Based on AreaSearch analysis of SALM and ABS data, during the year to December 2025, employment levels increased by 4.4% and the labour force increased by 4.6%, causing the unemployment rate to rise by 0.2 percentage points. In contrast, Greater Melbourne experienced employment growth of 2.4% and labour force growth of 2.8%, with a 0.3 percentage point rise. Jobs and Skills Australia's national employment forecasts from May-25 can offer further insight into potential future demand within Albert Park. These projections, covering five and ten-year periods, have been mapped against the local employment profile to estimate growth patterns. While national employment is forecast to expand by 6.6% over five years and 13.7% over ten years, growth rates differ significantly between industry sectors. Applying these industry-specific projections to Albert Park's employment mix suggests local employment should increase by 7.3% over five years and 14.6% over ten years (please note this is a simple weighting extrapolation for illustrative purposes and does not take into account localised population projections).

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

The Albert Park SA2's income level is among the top percentile nationally according to the latest ATO data aggregated by AreaSearch for FY-23. The Albert Park SA2's median income among taxpayers is $74,286 and the average income stands at $138,471, which compares to figures for Greater Melbourne's of $57,688 and $75,164 respectively. Based on Wage Price Index growth of 8.25% since FY-23, current estimates would be approximately $80,415 (median) and $149,895 (average) as of September 2025. From the 2021 Census, household, family and personal incomes all rank highly in Albert Park, between the 83rd and 95th percentiles nationally. Income brackets indicate the $4000+ bracket dominates with 29.4% of residents (5,072 people), contrasting with the surrounding region where the $1,500 - 2,999 bracket leads at 32.8%. Higher earners represent a substantial presence with 40.4% exceeding $3,000 weekly, indicating strong purchasing power within the community. High housing costs consume 15.6% of income, though strong earnings still place disposable income at the 82nd percentile and the area's SEIFA income ranking places it in the 9th decile.

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

Dwelling structure within Albert Park, as evaluated at the latest Census, comprised 10.1% houses and 90.0% other dwellings (semi-detached, apartments, 'other' dwellings), in comparison to Melbourne metro's 67.9% houses and 32.1% other dwellings. Meanwhile, the level of home ownership within Albert Park was in line with that of Melbourne metro, at 32.2%, with the remainder of dwellings either mortgaged (23.2%) or rented (44.6%). The median monthly mortgage repayment in the area was well above the Melbourne metro average at $2,600, while the median weekly rent figure was recorded at $493, compared to Melbourne metro's $2,000 and $390. Nationally, Albert Park's mortgage repayments are significantly higher than the Australian average of $1,863, while rents are substantially above the national figure of $375.

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

Family households dominate at 58.2% of all households, comprising 21.3% couples with children, 29.2% couples without children, and 6.6% single parent families. Non-family households make up the remaining 41.8%, with lone person households at 37.1% and group households comprising 4.6% of the total. The median household size of 2.1 people is smaller than the Greater Melbourne average of 2.6.

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

Educational attainment in Albert Park significantly surpasses broader benchmarks, with 57.8% of residents aged 15+ holding university qualifications compared to 30.4% in Australia and 33.4% in VIC. This substantial educational advantage positions the area strongly for knowledge-based opportunities. Bachelor degrees lead at 34.5%, followed by postgraduate qualifications (18.5%) and graduate diplomas (4.8%). Vocational pathways account for 18.4% of qualifications among those aged 15+ – advanced diplomas (9.9%) and certificates (8.5%).

Educational participation is notably high, with 26.6% of residents currently enrolled in formal education. This includes 7.7% in tertiary education, 7.1% in primary education, and 6.2% pursuing secondary education.

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

Public transport analysis reveals 62 active transport stops operating within Albert Park, comprising a mix of light rail and buses. These stops are serviced by 15 individual routes, collectively providing 19,749 weekly passenger trips. Transport accessibility is rated as excellent, with residents typically located 128 meters from the nearest transport stop. As a primarily residential area, most residents commute outward; the car remains the dominant mode at 59%, with 13% walking and 5% cycling. Vehicle ownership averages 0.7 per dwelling, below the regional average. A high 50.7% of residents work from home (2021 Census; may reflect COVID-19 conditions).

Service frequency averages 2,821 trips per day across all routes, equating to approximately 318 weekly trips per individual stop.

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

Health outcomes data demonstrates outstanding results across Albert Park, based on AreaSearch's assessment of mortality rates and chronic condition prevalence. There is a very low prevalence of common health conditions across all age groups, and the rate of private health cover is exceptionally high at approximately 82% of the total population (14,235 people). This compares to 56.7% across Greater Melbourne and a national average of 55.7%.

The most common medical conditions in the area are asthma and mental health issues, impacting 6.8% and 6.6% of residents, respectively, while 74.4% declared themselves as completely clear of medical ailments compared to 72.6% across Greater Melbourne. The area has 20.2% of residents aged 65 and over (3,485 people), which is higher than the 15.1% in Greater Melbourne. Health outcomes among seniors are particularly strong, with national rankings broadly in line with the general population.

Albert Park 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

Albert Park was found to be more culturally diverse than the vast majority of local markets, with 25.3% of its population speaking a language other than English at home and 35.6% born overseas. The main religion in Albert Park is Christianity, which makes up 43.1% of the population. However, the most apparent overrepresentation is in Judaism, which comprises 1.2% of the population, compared to 1.0% across Greater Melbourne.

In terms of ancestry (country of birth of parents), the top three represented groups in Albert Park are English, comprising 24.2% of the population, Australian, comprising 16.9% of the population, and Irish, comprising 10.7% of the population. Additionally, there are notable divergences in the representation of certain other ethnic groups: French is notably overrepresented at 1.1% of Albert Park (vs 0.5% regionally), Greek at 5.0% (vs 2.7%) and Polish at 1.1% (vs 0.8%).

Albert Park's population is slightly older than the national pattern

At 41 years, Albert Park's median age is significantly above the Greater Melbourne average of 37 as well as somewhat older than the Australian median of 38. Compared to the Greater Melbourne average, the 75 - 84 cohort is notably over-represented (8.1% locally), while 5 - 14 year-olds are under-represented (7.8%). Following the 2021 Census, the 15 to 24 age group has grown from 9.1% to 11.1% of the population, while the 75 to 84 cohort increased from 6.7% to 8.1%. Conversely, the 5 to 14 cohort has declined from 9.0% to 7.8%. Demographic modeling suggests Albert Park's age profile will evolve significantly by 2041. The 45 to 54 cohort shows the strongest projected growth at 61%, adding 1,448 residents to reach 3,811. The 0 to 4 group displays more modest growth at 6%, adding only 43 residents.