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 around 17,249 as of November 2025. This reflected an increase of 1,424 people since the 2021 Census, which reported a population of 15,825. The change was inferred from the estimated resident population of 17,184 in June 2024 and an additional 13 validated new addresses since the Census date. This resulted in a density ratio of 3,693 persons per square kilometer, placing Albert Park in the upper quartile relative to national locations assessed by AreaSearch. The area's population growth of 9.0% since the 2021 census exceeded the national average of 8.9%. Overseas migration contributed approximately 86.1% of overall population gains during recent periods.

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 released in 2023, adjusted using 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 the latest population numbers, Albert Park is forecast to increase by 5,156 persons by 2041, with an overall increase of 29.5% 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. Over the past five financial years, from FY-21 to FY-25, a total of 1,619 homes have been approved, with no approvals yet in FY-26. The average number of people moving to the area per dwelling built over these years is 0.1, indicating that supply meets or exceeds demand.

This has led to greater buyer choice and potential for population growth above projections. The average construction value of new homes is $442,000, which is somewhat higher than regional norms due to quality-focused development. In the current financial year, there have been $44.2 million in commercial approvals, suggesting robust local business investment. Compared to Greater Melbourne, Albert Park has 71.0% more construction activity per person, reflecting strong developer confidence in the location. New developments consist 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.

Looking ahead to 2041, Albert Park is expected to grow by approximately 5,091 residents. Given current construction levels, housing supply should adequately meet demand, creating favourable conditions for buyers while potentially enabling population growth that exceeds current forecasts.

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 57 projects likely impacting the area. Notable ones are The Albertine, Anzac Station, Shrine to Sea Boulevard Upgrade, and The Carter. 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.

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

Albert Park has a highly educated workforce with strong representation in professional services. The unemployment rate was 2.8% as of June 2025.

Employment growth over the past year was estimated at 6.6%. As of June 2025, 10,954 residents were employed, with an unemployment rate of 1.8% below Greater Melbourne's rate of 4.6%. Workforce participation was 66.9%, compared to Greater Melbourne's 64.1%. The key industries of employment among residents were professional & technical, health care & social assistance, and finance & insurance.

Employment specialization in professional & technical was particularly high, with a share of 1.9 times the regional level. Construction employed just 6.2% of local workers, below Greater Melbourne's 9.7%. The area functioned as an employment hub, hosting more jobs than residents and attracting workers from surrounding areas. During the year to June 2025, employment levels increased by 6.6%, while labour force increased by 7.1%, causing the unemployment rate to rise by 0.5 percentage points. In contrast, Greater Melbourne experienced employment growth of 3.5% and labour force growth of 4.0%, with a 0.5 percentage point rise in unemployment rate. Jobs and Skills Australia's national employment forecasts from May 2025 suggest potential future demand within Albert Park. These projections estimate national employment growth at 6.6% over five years and 13.7% over ten years, with varying rates between industry sectors. Applying these projections to Albert Park's employment mix suggests local growth of approximately 7.3% over five years and 14.6% over ten years, based on a simple weighting extrapolation for illustrative purposes.

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 ATO data aggregated by AreaSearch for financial year 2022. Albert Park's median income among taxpayers is $74,398 and average income stands at $147,457, compared to Greater Melbourne's figures of $54,892 and $73,761 respectively. Based on Wage Price Index growth of 12.16% since financial year 2022, estimated incomes as of September 2025 would be approximately $83,445 (median) and $165,388 (average). 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 (5,071 people) fall into the $4000+ bracket, 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. High housing costs consume 15.6% of income, yet strong earnings place disposable income at the 83rd percentile nationally, 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

Albert Park's dwelling structure, as per the latest Census, consisted of 10.1% houses and 90.0% other dwellings (semi-detached, apartments, 'other' dwellings). This contrasts with Melbourne metro's figures of 8.7% houses and 91.3% other dwellings. Home ownership in Albert Park stood at 32.2%, with mortgaged dwellings at 23.2% and rented ones at 44.6%. The median monthly mortgage repayment was $2,600, higher than Melbourne metro's average of $2,170. Median weekly rent in Albert Park was recorded at $493, compared to Melbourne metro's $420. Nationally, Albert Park's mortgage repayments were significantly higher than the Australian average of $1,863, and rents were substantially above 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 constitute 58.2 percent of all households, including 21.3 percent couples with children, 29.2 percent couples without children, and 6.6 percent single parent families. Non-family households account for the remaining 41.8 percent, with lone person households at 37.1 percent and group households comprising 4.6 percent of the total. 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

Albert Park's residents aged 15+ have a higher educational attainment than national averages. 57.8% hold university qualifications, compared to 30.4% nationally and 33.4% in Victoria. Bachelor degrees are the most common (34.5%), followed by postgraduate qualifications (18.5%) and graduate diplomas (4.8%). Vocational pathways account for 18.4%, with advanced diplomas at 9.9% and certificates at 8.5%.

Educational participation is high, with 26.6% currently enrolled in formal education. This includes tertiary (7.7%), primary (7.1%), and secondary (6.2%) education. Eight schools operate within Albert Park, educating approximately 4,116 students. The area has significant socio-educational advantages and academic achievement (ICSEA: 1148). Educational provision is conventional, with three primary and five secondary institutions. Albert Park functions as an education hub, offering 23.9 school places per 100 residents, significantly above the regional average of 9.6. This attracts students from surrounding communities. If schools show 'n/a' for enrolments, please refer to 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, collectively handling 9,216 weekly passenger trips. Residents enjoy excellent transport accessibility, with an average distance of 128 meters to the nearest stop.

Service frequency averages 1,316 trips per day across all routes, equating to approximately 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

Albert Park's health outcomes show excellent results across all age groups with very low prevalence of common health conditions. The private health cover rate is exceptionally high at approximately 86% of the total population (14,765 people), compared to Greater Melbourne's 73.1%. Nationally, this figure stands at 55.3%.

Asthma and mental health issues are the most prevalent medical conditions in the area, affecting 6.8% and 6.6% of residents respectively. 74.4% of residents report being completely clear of medical ailments, compared to Greater Melbourne's 73.3%. Albert Park has a higher proportion of seniors (19.6%, or 3,382 people) than Greater Melbourne (14.3%). Despite this, health outcomes among seniors in Albert Park are particularly strong and perform 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, surveyed in June-August 2016, had a higher cultural diversity than most local markets, with 25.3% of its residents speaking a language other than English at home and 35.6% born overseas. Christianity was the dominant religion in Albert Park as of 2016, comprising 43.1% of the population. However, Judaism showed significant overrepresentation, making up 1.2% of Albert Park's population compared to Melbourne's regional average of 3.7%.

In terms of ancestry, English (24.2%), Australian (16.9%), and Irish (10.7%) were the top three groups in Albert Park as of 2016. Notably, French (1.1% vs 1.1% regionally), Greek (5.0% vs 3.2%), and Polish (1.1% vs 1.5%) ethnicities showed divergences in representation compared to Greater Melbourne's averages.

Albert Park's median age exceeds the national pattern

Albert Park's median age is 41 years, which is significantly higher than the Greater Melbourne average of 37 and somewhat older than Australia's median age of 38. Compared to Greater Melbourne, Albert Park has a notably higher proportion of people aged 75-84 (7.7% locally) but fewer people aged 5-14 (7.9%). According to the 2021 Census, the population aged 15-24 grew from 9.1% to 10.9%, while the 5-14 age group decreased from 9.0% to 7.9%. By 2041, demographic modeling suggests Albert Park's age profile will change significantly. The 45-54 cohort is projected to grow by 61%, adding 1,449 residents to reach a total of 3,811. Meanwhile, the 0-4 age group is expected to grow by only 2%, with an increase of just 12 residents.