Albert Park

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

Albert Park's population was around 17,255 as of Feb 2026. This showed an increase of 1,430 people since the 2021 Census, which recorded a population of 15,825. The change was inferred from ABS' estimated resident population of 17,184 in June 2024 and 12 validated new addresses since the Census date. This resulted in a density ratio of 3,694 persons per square kilometer, placing Albert Park in the upper quartile nationally according to AreaSearch's assessments. Over the past decade, Albert Park exhibited resilient growth patterns with a compound annual growth rate of 1.0%, outperforming its SA3 area. Overseas migration drove population growth, contributing approximately 86.1% of overall gains during recent periods.

AreaSearch uses ABS/Geoscience Australia projections for each SA2 area released in 2024 with 2022 as the base year. For areas not covered by this data, AreaSearch employs VIC State Government's Regional/LGA projections released in 2023 with adjustments made using a method of weighted aggregation of population growth from LGA to SA2 levels. Growth rates by age group are applied across all areas for years 2032 to 2041. Future projections anticipate significant population increase, with Albert Park expected to gain 5,156 persons by 2041 based on the latest annual ERP population numbers, reflecting a total 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 granted approval for approximately 323 residential properties annually. Between FY-21 and FY-25, 1,619 homes were approved, with an additional 2 approved in FY-26. Over these five financial years, an average of 0.1 person moved to the area per dwelling built.

The average construction value of new homes was $442,000. This year, commercial approvals totaled $44.2 million. Compared to Greater Melbourne, Albert Park has 71.0% more construction activity per person. New development consists predominantly of townhouses or apartments (99.0%), with detached houses comprising only 1.0%. With around 26 people per dwelling approval, Albert Park exhibits growth area characteristics. By 2041, the area is projected to grow by approximately 5,085 residents.

Current construction levels should meet housing demand adequately, creating favorable conditions for buyers and potentially exceeding current growth forecasts.

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

Changes in local infrastructure significantly affect an area's performance. AreaSearch has identified 55 projects that could impact this region. Notable projects include The Albertine, Four Three Seven, The Carter Building, and Four Three Seven (437 St Kilda Road). The following list details those likely to be most relevant.

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

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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 September 2025. Employment growth over the past year was estimated at 4.5%.

As of that date, 10,628 residents were employed, with an unemployment rate of 1.8% below Greater Melbourne's rate of 4.7%. Workforce participation in Albert Park was broadly similar to Greater Melbourne's 71.0%. According to Census responses, 50.7% of residents worked from home. 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. In contrast, 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 September 2025, employment levels increased by 4.5%, while labour force increased by 4.8%, causing the unemployment rate to rise by 0.2 percentage points. Jobs and Skills Australia's national employment forecasts from May-25 suggest that Albert Park's employment should increase by 7.3% over five years and 14.6% over ten years, based on industry-specific projections applied to the local employment mix.

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

Albert Park SA2's income level is among the top percentile nationally, according to AreaSearch's aggregation of latest ATO data for financial year 2023. The median income among taxpayers in Albert Park SA2 was $74,286, with an average income of $138,471. These figures compare to Greater Melbourne's median and average incomes of $57,688 and $75,164 respectively. Based on Wage Price Index growth of 8.25% since financial year 2023, current estimates for Albert Park SA2 would be approximately $80,415 (median) and $149,895 (average) as of September 2025. From the 2021 Census, household, family, and personal incomes in Albert Park rank highly nationally, between the 83rd and 95th percentiles. The income bracket indicating $4000+ 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 in Albert Park, with 40.4% exceeding $3,000 weekly. High housing costs consume 15.6% of income, though strong earnings place disposable income at the 82nd 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 data, consisted of 10.1% houses and 90.0% other dwellings (semi-detached, apartments, 'other' dwellings). In contrast, Melbourne metro had 67.9% houses and 32.1% other dwellings. Home ownership in Albert Park was 32.2%, similar to Melbourne metro's level. Mortgaged dwellings were at 23.2% and rented ones at 44.6%. The median monthly mortgage repayment in Albert Park was $2,600, higher than Melbourne metro's average of $2,000. Median weekly rent in Albert Park was $493, compared to Melbourne metro's $390. 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 lower-than-average median household size

Family households account for 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 constitute 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, which 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

Albert Park's residents aged 15 and above have a notably higher university qualification rate of 57.8%, compared to Australia's 30.4% and Victoria's 33.4%. This educational advantage is driven by Bachelor degrees (34.5%), postgraduate qualifications (18.5%), and graduate diplomas (4.8%). Vocational pathways account for 18.4% of qualifications, with advanced diplomas at 9.9% and certificates at 8.5%. Educational participation is high in Albert Park, 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

Albert Park has 62 active public transport stops offering a mix of lightrail and bus services. These are served by 15 routes, collectively facilitating 19,749 weekly passenger trips. Transport accessibility is rated excellent with residents typically residing 128 meters from the nearest stop. Most residents commute outward daily. Cars remain the primary mode at 59%, followed by walking (13%) and cycling (5%). Average vehicle ownership per dwelling is 0.7, lower than the regional average.

According to the 2021 Census, 50.7% of residents work from home, which may be influenced by COVID-19 conditions. Service frequency averages 2,821 trips daily across all routes, translating 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

Albert Park's health outcomes show excellent results based on AreaSearch's assessment of mortality rates and chronic condition prevalence. The area has a very low prevalence of common health conditions across all age groups. Private health cover is exceptionally high at approximately 82% of the total population (14,235 people), compared to 56.7% in Greater Melbourne and 55.7% nationally.

The most prevalent medical conditions are asthma and mental health issues, affecting 6.8 and 6.6% of residents respectively. A total of 74.4% of residents report being completely clear of medical ailments, compared to 72.6% in Greater Melbourne. Albert Park has a higher proportion of seniors aged 65 and over at 20.2%, with 3,485 people, compared to 15.1% in Greater Melbourne. Health outcomes among seniors are particularly strong and align broadly with national rankings for 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's population was found to have higher cultural diversity than most local markets, with 25.3% speaking a language other than English at home and 35.6% born overseas. Christianity was the predominant religion in Albert Park, comprising 43.1% of its population. Notably, Judaism had an overrepresentation in Albert Park at 1.2%, compared to 1.0% across Greater Melbourne.

In terms of ancestry, the top three groups were English (24.2%), Australian (16.9%), and Irish (10.7%). Some ethnic groups showed significant differences: French was notably overrepresented at 1.1% in Albert Park versus 0.5% regionally, Greek at 5.0% versus 2.7%, and Polish at 1.1% versus 0.8%.

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

Albert Park's median age is 41 years, which is significantly higher than the Greater Melbourne average of 37 and slightly older than the Australian median of 38. Compared to the Greater Melbourne average, Albert Park has a notably over-represented cohort of people aged 75-84 (8.1% locally), while those aged 5-14 are under-represented (7.8%). According to the 2021 Census, the population aged 15-24 grew from 9.1% to 11.1%, and the 75-84 cohort increased from 6.7% to 8.1%. Conversely, the 5-14 age group declined from 9.0% to 7.8%. Demographic modeling suggests that Albert Park's age profile will significantly evolve by 2041. The strongest projected growth is in the 45-54 cohort, with a 61% increase adding 1,448 residents to reach 3,811. The 0-4 group shows more modest growth at 6%, adding only 43 residents.