Elwood

An assessment of population growth drivers in Elwood reveals an overall ranking slightly below national averages considering recent, and medium term trends

Elwood's population, as of November 2025, is approximately 16,019. This figure represents an increase of 1,201 people since the 2021 Census, which recorded a population of 14,818. The increase was inferred from the estimated resident population of 15,961 in June 2024 and an additional 94 validated new addresses since the Census date. This results in a population density ratio of 6,282 persons per square kilometer, placing Elwood within the top 10% of locations assessed by AreaSearch. The area's growth rate of 8.1% since the census is within 1.6 percentage points of the national average of 9.7%. Overseas migration contributed approximately 76.8% to the overall population gains during recent periods.

AreaSearch adopts 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 uses VIC State Government's Regional/LGA projections from 2023, adjusted using weighted aggregation methods to SA2 levels. Growth rates by age group are applied across all areas for the years 2032 to 2041. Based on these projections, Elwood is expected to experience above median population growth nationally. By 2041, the area's population is projected to increase by 3,356 persons, reflecting a total gain of 20.6% over the 17-year period.

AreaSearch assessment of residential development drivers sees a low level of activity in Elwood, placing the area among the bottom 25% of areas assessed nationally

Elwood has received approximately 35 dwelling approvals annually over the past five financial years, totalling 176 homes. As of FY2026, 8 approvals have been recorded. The population decline during this period suggests that new supply has likely kept pace with demand, offering buyers good choice while developers target the premium market segment with higher-end properties at an average construction cost value of $618,000. This financial year, $7.8 million in commercial approvals have been registered, indicating Elwood's primarily residential nature.

Compared to Greater Melbourne, Elwood records significantly lower building activity, which is 80.0% below the regional average per person. This constrained new construction typically reinforces demand and pricing for existing homes, with activity also under the national average, suggesting the area's established nature and potential planning limitations. New building activity consists of 32.0% detached houses and 68.0% medium and high-density housing, attracting downsizers, investors, and first-time purchasers due to affordable entry pathways. Notably, developers are constructing more traditional houses than the current mix suggests (14.0% at Census), indicating strong demand for family homes despite density pressures. With around 702 people per dwelling approval, Elwood reflects a highly mature market. According to AreaSearch's latest quarterly estimate, Elwood is projected to gain 3,298 residents by 2041.

If current development rates continue, housing supply may not keep pace with population growth, potentially increasing competition among buyers and supporting stronger price growth.

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

Changes to local infrastructure significantly influence an area's performance. AreaSearch identified ten projects potentially impacting the area. Notable projects are Elwood Foreshore Precinct Masterplan, St Kilda Marina Project, Elwood Main Drain Duplication Project, and Coles Carlisle Street Precinct Development. The following list details those 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.

AreaSearch assessment positions Elwood ahead of most Australian regions for employment performance

Elwood's workforce is highly educated with significant representation in the technology sector. The unemployment rate was 3.9% as of September 2025. Employment growth over the past year was estimated at 4.6%.

As of this date, 11,140 residents were employed, with an unemployment rate of 0.7% below Greater Melbourne's rate of 4.7%. Workforce participation in Elwood was 81.6%, compared to Greater Melbourne's 71.0%. According to Census responses, 50.5% of residents worked from home, though Covid-19 lockdown impacts should be considered. Leading employment industries among residents were professional & technical, health care & social assistance, and education & training.

Elwood showed strong specialization in professional & technical services with an employment share of 1.6 times the regional level, while manufacturing had lower representation at 4.0% versus the regional average of 7.2%. Over the 12 months to September 2025, employment increased by 4.6%, labour force by 4.9%, resulting in an unemployment rise of 0.3 percentage points. By comparison, Greater Melbourne recorded employment growth of 3.0% and labour force growth of 3.3%. Jobs and Skills Australia's national employment forecasts from May-25 suggest potential future demand within Elwood. These projections estimate local employment should increase by 7.2% over five years and 14.5% over ten years, based on a simple weighting extrapolation using industry-specific projections.

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

AreaSearch's latest postcode level ATO data for financial year 2023 shows Elwood SA2's median income among taxpayers is $73,958, with an average of $104,213. Nationally, this is exceptionally high compared to Greater Melbourne's median of $57,688 and average of $75,164. As of September 2025, estimated incomes would be approximately $80,060 (median) and $112,811 (average), based on Wage Price Index growth of 8.25% since financial year 2023. According to Census 2021 income data, individual earnings in Elwood stand out at the 96th percentile nationally ($1,363 weekly). Income analysis reveals that 32.3% of residents earn between $1,500 and $2,999 weekly (5,174 residents), mirroring the metropolitan region where 32.8% occupy this bracket. A substantial proportion of high earners (33.4%) are above $3,000 weekly, indicating strong economic capacity throughout the suburb. High housing costs consume 17.1% of income, but strong earnings still place disposable income at the 69th percentile nationally. The area's SEIFA income ranking places it in the 9th decile.

Elwood features a more urban dwelling mix with significant apartment living, with a higher proportion of rental properties than the broader region

As of the latest Census, Elwood's dwelling structure consisted of 14.3% houses and 85.7% other dwellings (semi-detached, apartments, 'other' dwellings), compared to Melbourne metro's 67.9% houses and 32.1% other dwellings. Home ownership in Elwood was at 21.2%, with mortgaged dwellings at 26.7% and rented dwellings at 52.1%. The median monthly mortgage repayment in the area was $2,300, while the median weekly rent figure was $415. Nationally, Elwood's mortgage repayments were significantly higher than the Australian average of $1,863, with rents substantially above the national figure of $375.

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

Family households constitute 49.2% of all households, including 17.9% couples with children, 23.6% couples without children, and 6.6% single parent families. Non-family households account for the remaining 50.8%, with lone person households at 44.2% and group households comprising 6.7%. The median household size is 1.9 people, which is smaller than the Greater Melbourne average of 2.6.

Elwood demonstrates exceptional educational outcomes, ranking among the top 5% of areas nationally based on AreaSearch's comprehensive analysis of qualification and performance metrics

Elwood's educational attainment significantly exceeds broader benchmarks. Among residents aged 15 and above, 57.3% hold university qualifications, compared to 30.4% nationally and 33.4% in Victoria. This high level of educational attainment positions the area favourably for knowledge-based opportunities. Bachelor degrees are the most common qualification at 37.1%, followed by postgraduate qualifications (15.1%) and graduate diplomas (5.1%).

Vocational pathways account for 22.4% of qualifications among those aged 15 and above, with advanced diplomas at 11.4% and certificates at 11.0%. Educational participation is notably high in Elwood, with 26.9% of residents currently enrolled in formal education. This includes 8.0% in tertiary education, 7.0% in primary education, and 5.6% pursuing secondary education.

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

Elwood has 43 active public transport stops operating within its boundaries. These comprise a mix of light rail and bus services, totaling 8 individual routes that facilitate 3,018 weekly passenger trips combined. The accessibility of these transport options is rated as excellent, with residents typically residing just 160 meters from the nearest stop. As a predominantly residential area, most Elwood residents commute outward using various modes of transportation. Cars remain the dominant mode at 71%, followed by train use at 8% and walking at 6%. The average vehicle ownership per dwelling in Elwood is below the regional average, standing at 0.7 vehicles per residence.

According to the 2021 Census data (which may have been influenced by COVID-19 conditions), a high proportion of residents work from home, with this figure reaching 50.5%. The service frequency across all routes averages 431 trips per day, equating to approximately 70 weekly trips per individual stop.

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

Elwood's health outcomes show significantly positive results, as evaluated by AreaSearch through mortality rates and chronic condition prevalence. The area has very low prevalence of common health conditions across all age groups. Approximately 73% of Elwood's total population (11,709 people) have private health cover, which is notably higher than Greater Melbourne's 56.7% and the national average of 55.7%.

Mental health issues and asthma are the most prevalent medical conditions in Elwood, affecting 9.5 and 7.6% of residents respectively. Conversely, 74.6% of residents declare themselves completely clear of medical ailments, compared to Greater Melbourne's 72.6%. Working-age residents exhibit low chronic condition prevalence. Elwood has a lower proportion of seniors aged 65 and over at 12.8% (2,047 people) than Greater Melbourne's 14.9%. Health outcomes among seniors in Elwood are strong and align with national rankings for the general population.

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

Elwood's population showed higher cultural diversity than most local markets, with 15.4% speaking a language other than English at home and 28.1% born overseas. Christianity was the predominant religion in Elwood, making up 30.5%. Judaism was notably overrepresented at 3.9%, compared to Greater Melbourne's 1.0%.

For ancestry, the top groups were English (26.3%), Australian (18.7%), and Irish (11.2%). Some ethnicities showed significant differences: Polish at 1.9% vs regional 0.8%, French at 1.2% vs 0.5%, and Russian at 0.9% vs 0.4%.

Elwood's population is slightly younger than the national pattern

The median age in Elwood is 38 years, close to Greater Melbourne's average of 37 and equivalent to Australia's median of 38. Compared to Greater Melbourne, Elwood has a higher proportion of residents aged 25-34 (21.1%) but fewer residents aged 5-14 (7.0%). This proportion of 25-34 year-olds is significantly higher than the national average of 14.5%. Between the 2021 Census and the present, the population aged 15 to 24 has increased from 8.2% to 10.4%, while the 5 to 14 age group has decreased from 8.5% to 7.0%. The 35 to 44 age group has also dropped from 18.6% to 17.4%. By 2041, Elwood's population is expected to see significant changes in its age composition. Notably, the 45 to 54 age group is projected to grow by 41%, reaching 3,360 people from 2,386. Conversely, the 0 to 4 age group is expected to decrease by 49 residents.