Albert Park
Statistical Area - sa2

Population growth drivers in Albert Park are strong compared to national averages based on AreaSearch's ranking of recent, and medium to long-term trends

Albert Park's population was approximately 17,242 as of August 2025. This figure represents an increase of 1,417 people since the 2021 Census, which reported a population of 15,825. The change is inferred from the estimated resident population of 17,184 in June 2024 and an additional 10 validated new addresses since the Census date. This results in a population density ratio of 3,692 persons per square kilometer, placing Albert Park in the upper quartile relative to other locations assessed by AreaSearch. The area's 9.0% growth since the 2021 census exceeded the national average of 8.6%, indicating it as a growth leader in the region. Overseas migration contributed approximately 86.1% of overall population gains during recent periods, driving this growth.

AreaSearch is using 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 utilizes the VIC State Government's Regional/LGA projections from 2023, adjusting them employing a method of weighted aggregation of population growth from LGA to SA2 levels. Growth rates by age group from these aggregations are applied across all areas for years 2032 to 2041. Future population dynamics forecast a significant increase in the top quartile of statistical areas analysed by AreaSearch, with Albert Park expected to increase by 5,156 persons to 2041 based on the latest population numbers, representing an overall increase of 29.6% over the 17-year period.

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

Albert Park has recorded approximately 323 residential properties granted approval each year. Development approval data is produced by the ABS on a financial year basis, with 1,619 homes approved over the past five financial years, from FY-21 to FY-25, and none so far in FY-26. On average, 0.1 new residents arrive per new home each year over these five years, indicating that new supply is keeping pace with or exceeding demand. The average construction cost value of new dwellings is $428,000, aligning with broader regional development.

This financial year has seen $44.2 million in commercial approvals, suggesting robust local business investment. Compared to Greater Melbourne, Albert Park shows 71.0% higher development activity per person, offering buyers greater choice and reflecting strong developer confidence in the area. New development consists of 1.0% detached houses and 99.0% townhouses or apartments, focusing on higher-density living which creates more affordable entry points for downsizers, investors, and first-home buyers. With around 26 people per dwelling approval, Albert Park shows characteristics of a growth area. Future projections show Albert Park adding 5,098 residents by 2041, with current development patterns indicating that new housing supply should readily meet demand, offering good conditions for buyers and potentially facilitating population growth beyond current projections.

Future projections show Albert Park adding 5,098 residents by 2041. Based on current development patterns, new housing supply should readily meet demand, offering good conditions for buyers and potentially facilitating population growth beyond current projections.

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

Changes to local infrastructure significantly influence an area's performance. AreaSearch has identified 64 projects likely impacting the area. Notable ones include ANZAC Station - Metro Tunnel, GURNER 424-426 St Kilda Road, The Albertine, and The Carter Building. The following list details those most relevant.

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

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

Albert Park has an educated workforce with professional services well represented. The unemployment rate was 2.8% in the past year, with estimated employment growth of 6.6%.

As of June 2025, 10,954 residents were employed at a rate 1.8% lower than Greater Melbourne's 4.6%. Workforce participation was 66.9%, slightly higher than Greater Melbourne's 64.1%. Key industries for employment were professional & technical (with an employment share of 1.9 times the regional level), health care & social assistance, and finance & insurance. Construction employed just 6.2% of local workers compared to Greater Melbourne's 9.7%.

There was one worker per resident in June 2025, indicating the area hosts more jobs than residents and attracts workers from surrounding areas. Between June 2024 and June 2025, employment levels increased by 6.6% while labour force grew by 7.1%, raising the unemployment rate by 0.5 percentage points. In contrast, Greater Melbourne experienced employment growth of 3.5% and labour force growth of 4.0%, with a similar rise in unemployment. As of Sep-25, VIC's employment had grown by 1.08% year-on-year (adding 39,880 jobs), with the state unemployment rate at 4.7%. National employment forecasts from May 2025 project growth of 6.6% over five years and 13.7% over ten years. Applying these projections to Albert Park's employment mix suggests local growth could be approximately 7.3% over five years and 14.6% over ten years, though these are simple extrapolations for illustrative purposes only.

The economic profile demonstrates exceptional strength, placing the area among the top 10% nationally based on comprehensive AreaSearch income analysis

Albert Park's income level is among the top percentile nationally according to latest ATO data aggregated by AreaSearch for financial year 2022. Albert Park's median income among taxpayers in that year was $74,398, with an average income of $147,457. These figures compare to Greater Melbourne's median and average incomes of $54,892 and $73,761 respectively. Based on Wage Price Index growth of 10.11% since financial year 2022, current estimates for Albert Park would be approximately $81,920 (median) and $162,365 (average) as of March 2025. From the 2021 Census, household, family, and personal incomes in Albert Park rank highly nationally, between the 84th and 96th percentiles. Income brackets indicate that 29.4% of residents (5,069 people) fall into the $4,000+ bracket, contrasting with the surrounding region where the $1,500 - $2,999 bracket leads at 32.8%. Higher earners represent a substantial presence in Albert Park, with 40.4% exceeding $3,000 weekly. High housing costs consume 15.6% of income, but strong earnings place disposable income at the 83rd percentile nationally. 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

Albert Park's dwelling structures, as per the latest Census, consisted of 10.1% houses and 90.0% other dwellings (semi-detached, apartments, 'other' dwellings). In comparison, Melbourne metro had 8.7% houses and 91.3% other dwellings. Home ownership in Albert Park was at 32.2%, with mortgaged dwellings at 23.2% and rented ones at 44.6%. The median monthly mortgage repayment in the area was $2,600, higher than Melbourne metro's average of $2,170. The median weekly rent in Albert Park was $493, compared to Melbourne metro's $420. Nationally, Albert Park's mortgage repayments were significantly higher at $2,600 compared to the Australian average of $1,863, while rents were substantially higher at $493 compared to the national figure of $375.

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

Family households account for 58.2% of all households, including 21.3% couples with children, 29.2% couples without children, and 6.6% single parent families. Non-family households constitute the remaining 41.8%, with lone person households at 37.1% and group households comprising 4.6%. The median household size is 2.1 people, larger than the Greater Melbourne average of 1.9.

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 is notably higher than broader benchmarks. 57.8% of residents aged 15 years and above hold university qualifications, compared to 30.4% nationally and 33.4% statewide (VIC). Bachelor degrees are the most prevalent 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 years and above, with advanced diplomas at 9.9% and certificates at 8.5%.

Educational participation is 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. There are eight schools operating within Albert Park, educating approximately 4,116 students. The area demonstrates significant socio-educational advantages and academic achievement, with an ICSEA score of 1148. Educational provision is conventional, split between three primary and five secondary institutions. Albert Park functions as an education hub, with 23.9 school places per 100 residents, significantly above the regional average of 9.6. This attracts students from surrounding communities. Note: where schools show 'n/a' for enrolments, please refer to the parent campus.

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

Albert Park has 62 active public transport stops, offering a mix of light rail and bus services. These stops are served by 15 different routes, carrying out 9,216 weekly passenger trips in total. The park's transport accessibility is rated as excellent, with residents typically living just 128 meters from the nearest stop.

On average, there are 1,316 daily trips across all routes, which amounts to about 148 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 shows excellent results across Albert Park, with very low prevalence of common health conditions across all age groups. The rate of private health cover is exceptionally high at approximately 86% of the total population (14,759 people), compared to 73.1% across Greater Melbourne and a national average of 55.3%. The most prevalent medical conditions in the area are asthma and mental health issues, affecting 6.8 and 6.6% of residents respectively, while 74.4% of residents declare themselves completely clear of medical ailments, compared to 73.3% across Greater Melbourne.

Albert Park has 19.6% of residents aged 65 and over (3,381 people), higher than the 14.3% in Greater Melbourne. Health outcomes among seniors are particularly strong, performing even better than the general population in health metrics.

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 had a higher cultural diversity compared to most local areas, with 25.3% of residents speaking a language other than English at home and 35.6% born overseas. Christianity was the predominant religion in Albert Park, accounting for 43.1% of its population. However, Judaism was notably overrepresented, making up 1.2% of Albert Park's population compared to 3.7% across Greater Melbourne.

The top three ancestry groups were English (24.2%), Australian (16.9%), and Irish (10.7%). Some ethnic groups showed significant differences: French was equally represented at 1.1%, Greek was higher at 5.0% compared to the regional average of 3.2%, and Polish was slightly lower at 1.1% versus 1.5%.

Albert Park's median age exceeds the national pattern

Albert Park's median age is 41 years, which is higher than Greater Melbourne's average of 37 and Australia's median of 38. Locally, the 75-84 age cohort is over-represented at 7.7% compared to Greater Melbourne's average, while the 5-14 year-olds are under-represented at 7.9%. According to the 2021 Census, Albert Park's 15 to 24 age group has increased from 9.1% to 10.9%, while the 5 to 14 cohort has decreased from 9.0% to 7.9%. By 2041, demographic modeling predicts significant changes in Albert Park's age profile. The 45-54 cohort is projected to grow by 61%, adding 1,450 residents to reach 3,811. Meanwhile, the 0-4 group is expected to grow by 2%, adding only 12 residents.