Macedon
Statistical Area - sa2

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

Macedon's population was approximately 3,647 as of August 2025. This figure represents an increase of 124 people from the 2021 Census total of 3,523. The change is inferred from ABS data, with an estimated resident population of 3,645 in June 2024 and nine additional validated addresses since the Census date. This results in a population density of 50 persons per square kilometer. Natural growth accounted for approximately 57.1% of overall population gains during recent periods.

AreaSearch is adopting ABS/Geoscience Australia projections released in 2024, with a base year of 2022 for each SA2 area. For areas not covered by this data, AreaSearch uses the VIC State Government's Regional/LGA projections from 2023, adjusted using weighted aggregation methods to SA2 levels. Future population trends suggest an above median growth across statistical areas nationally. Based on recent numbers, Macedon is projected to expand by 744 persons to 2041, marking a total gain of 20.4% over the seventeen-year period.

Residential development activity is lower than average in Macedon according to AreaSearch's national comparison of local real estate markets

Macedon has recorded approximately five residential properties granted approval annually. Development approval data is produced by the Australian Bureau of Statistics on a financial year basis: 25 homes over the past five financial years, from FY21 to FY25, and one so far in FY26. On average, 4.2 new residents are added per year for every home built during these years. This indicates that supply is lagging demand, which typically results in heightened buyer competition and pricing pressures.

The average expected construction cost value of new dwellings is $1,104,000, suggesting developers focus on the premium market with high-end developments. In FY26, commercial approvals registered totalled $425,000, reflecting Macedon's residential nature compared to Greater Melbourne, where development activity is significantly higher (84.0% above regional average per person). This constrained new construction can reinforce demand and pricing for existing homes. Recent development has comprised entirely detached houses, maintaining the area's low density nature and attracting space-seeking buyers.

Population forecasts indicate Macedon will gain 742 residents by 2041. At current development rates, housing supply may struggle to match population growth, potentially heightening buyer competition and supporting price increases.

Macedon has strong levels of nearby infrastructure activity, ranking in the top 40% nationally

Changes to local infrastructure significantly impact an area's performance. AreaSearch has identified eight projects that may affect this region. Notable projects include Hanging Rock to Daylesford Shared Trail, Macedon Ranges Sports Precinct, Hamilton Road Reconstruction New Gisborne to Riddells Creek, and Gisborne Business Park Development. The following list details those likely most relevant.

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

AreaSearch analysis of employment trends sees Macedon performing better than 90% of local markets assessed across Australia

Macedon has an educated workforce with professional services well represented. Its unemployment rate is 1.4% and it experienced 4.1% employment growth in the past year.

As of June 2025, 2,070 residents are employed, with an unemployment rate of 3.2%, below Greater Melbourne's 4.6%. Workforce participation is similar to Greater Melbourne's 64.1%. Key industries for Macedon residents include professional & technical, education & training, and health care & social assistance, with a specialization in education & training at 1.3 times the regional level. However, accommodation & food services are under-represented at 3.5% compared to Greater Melbourne's 6.4%.

Employment opportunities locally may be limited as indicated by Census data. Between June 2024 and June 2025, employment levels increased by 4.1%, labour force by 4.4%, raising the unemployment rate by 0.3 percentage points. In comparison, Greater Melbourne had employment growth of 3.5% and unemployment rose by 0.5 percentage points. Statewide in Victoria as of Sep-25, employment grew by 1.08% year-on-year, adding 39,880 jobs, with an unemployment rate of 4.7%. National forecasts from Jobs and Skills Australia project national employment growth at 6.6% over five years and 13.7% over ten years. Applying these projections to Macedon's employment mix suggests local growth of approximately 6.7% over five years and 13.6% 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

AreaSearch's latest postcode level ATO data for financial year ending June 2022 shows that Macedon has exceptionally high incomes nationally. The median assessed income is $66,000 while the average income stands at $104,849. This contrasts with Greater Melbourne's figures of a median income of $54,892 and an average income of $73,761. Based on Wage Price Index growth of 10.11% since financial year ending June 2022, current estimates would be approximately $72,673 (median) and $115,449 (average) as of March 2025. From the 2021 Census, household, family and personal incomes in Macedon all rank highly nationally, between the 78th and 90th percentiles. Income analysis reveals that the $4000+ earnings band captures 27.7% of the community (1,010 individuals), differing from patterns across the region where $1,500 - 2,999 dominates with 32.8%. The substantial proportion of high earners (41.8% above $3,000/week) indicates strong economic capacity throughout Macedon. After housing costs, residents retain 87.8% of income, reflecting strong purchasing power and the area's SEIFA income ranking places it in the 9th decile.

Macedon is characterized by a predominantly suburban housing profile, with above-average rates of outright home ownership

In Macedon, as per the latest Census evaluation, 98.0% of dwellings were houses, with the remaining 2.0% comprising semi-detached units, apartments, and other types. This contrasts with Melbourne metro's 94.7% houses and 5.3% other dwellings. Home ownership in Macedon stood at 44.8%, compared to mortgaged properties at 46.7% and rented ones at 8.5%. The median monthly mortgage repayment in Macedon was $2,492, exceeding Melbourne metro's average of $2,014. Median weekly rent in Macedon was $361, lower than Melbourne metro's $400. Nationally, Macedon's mortgage repayments were higher at $2,492 compared to the Australian average of $1,863, while rents were lower at $361 against the national figure of $375.

Macedon features high concentrations of family households, with a lower-than-average median household size

Family households constitute 80.8% of all households, including 39.0% couples with children, 34.7% couples without children, and 6.9% single parent families. Non-family households comprise the remaining 19.2%, with lone person households at 17.4% and group households comprising 1.6%. The median household size is 2.7 people, smaller than Greater Melbourne's average of 2.8.

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

Macedon's educational attainment is notably higher than broader benchmarks. Among residents aged 15+, 42.3% hold university qualifications, compared to 27.7% in the SA3 area and 27.7% in the SA4 region. Bachelor degrees are most common at 25.4%, followed by postgraduate qualifications (11.3%) and graduate diplomas (5.6%). Vocational credentials are also prevalent, with 30.3% of residents aged 15+ holding them, including advanced diplomas (12.4%) and certificates (17.9%).

Educational participation is high, with 30.6% of residents currently enrolled in formal education. This includes primary (11.4%), secondary (10.2%), and tertiary education (4.1%). Macedon's four schools have a combined enrollment of 1,845 students. The area has significant socio-educational advantages and academic achievement, with an ICSEA score of 1128. It functions as an education hub, offering 50.6 school places per 100 residents, significantly above the regional average of 16.4, attracting students from surrounding communities.

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

Macedon has two active public transport stops in operation, offering a mix of train and bus services. These stops are served by seven distinct routes that together facilitate 391 weekly passenger trips. Transport accessibility is assessed as limited, with residents typically located 1839 meters away from the nearest transport stop.

The average service frequency across all routes is 55 trips per day, which translates to approximately 195 weekly trips per individual stop.

The level of general health in Macedon is notably higher than the national average with both young and old age cohorts seeing low prevalence of common health conditions

Macedon shows above-average health outcomes with both younger and older age groups having low prevalence of common health conditions. The rate of private health cover is exceptionally high at approximately 74% of the total population (2,687 people), compared to 58.9% across Greater Melbourne and a national average of 55.3%. The most prevalent medical conditions are arthritis and asthma, affecting 7.8% and 7.2% of residents respectively, while 71.9% report being completely free of medical ailments, compared to 69.3% in Greater Melbourne.

The area has 21.4% of residents aged 65 and over (781 people), higher than the 18.7% in Greater Melbourne. Health outcomes among seniors are particularly strong, performing better than the general population in health metrics.

Macedon is considerably less culturally diverse than average when assessed alongside AreaSearch's national rankings for language and cultural background related metrics

Macedon's cultural diversity was found to be below average, with 84.1% of its population born in Australia, 90.1% being citizens, and 95.8% speaking English only at home. The dominant religion in Macedon is Christianity, comprising 38.3% of people. Notably, Buddhism is overrepresented, making up 0.8% compared to the region's average of 0.6%.

Regarding ancestry, the top three groups are English (29.2%), Australian (27.9%), and Irish (11.4%). Certain ethnic groups show significant differences in representation: Dutch at 2.1% versus the regional average of 1.5%, Polish at 1.1% compared to 0.8%, and Scottish at 9.4% versus 8.8%.

Macedon hosts an older demographic, ranking in the top quartile nationwide

The median age in Macedon is 46 years, which exceeds Greater Melbourne's average of 37 years and is also above Australia's median age of 38 years. The 45-54 age cohort in Macedon is notably higher at 16.6% compared to Greater Melbourne's average, while the 25-34 year-olds are under-represented at 3.0%. Between the 2021 Census and the present, the 75-84 age group has increased from 5.8% to 8.5%, and the 15-24 cohort has risen from 9.5% to 11.3%. Conversely, the 65-74 cohort has decreased from 14.2% to 11.4%, and the 25-34 group has dropped from 5.6% to 3.0%. Population forecasts for 2041 indicate significant demographic changes in Macedon. The 45-54 age cohort is projected to expand by 230 people, rising from 605 to 836. Meanwhile, the 0-4 and 35-44 cohorts are expected to experience population declines.