Parkville
Statistical Area - sa2

Parkville has seen population growth performance typically on par with national averages when looking at short and medium term trends

Parkville's population, as of August 2025, is approximately 8,191 people. This figure represents an increase of 894 individuals since the 2021 Census, which recorded a population of 7,297. The estimated resident population of 8,293 from the ABS in June 2024 and address validation since the Census date supports this inference. Parkville's population density is around 2,022 persons per square kilometer, exceeding national averages assessed by AreaSearch. Between 2021 and 2025, Parkville's population growth rate of 12.3% surpassed both the national average (8.6%) and state averages, positioning it as a region with significant growth. Overseas migration was the primary driver behind this growth.

AreaSearch uses 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 employs VIC State Government's Regional/LGA projections from 2023, adjusted using a weighted aggregation method from LGA to SA2 levels. Growth rates by age group are applied across all areas for the years 2032 to 2041. According to demographic trends, Parkville is projected to have above-median population growth in national statistical areas, with an expected increase of 1,936 persons by 2041, representing a total gain of 24.9% over the 17-year period.

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

Parkville has seen approximately 32 new homes approved annually. Development approval data is produced by the ABS on a financial year basis, totalling 161 approvals across the past five financial years, from FY-21 to FY-25, with no approvals so far in FY-26. On average, just 0 new residents have arrived per new home over the past five financial years. Supply has been meeting or surpassing demand, offering greater buyer choice and supporting potential population growth above projections.

This year, $323.7 million in commercial approvals have been registered, indicating strong commercial development momentum. Compared to Greater Melbourne, Parkville records significantly lower building activity, 72.0% below the regional average per person. Limited new supply generally supports stronger demand and values for established properties. Recent development has consisted entirely of attached dwellings, appealing to downsizers, investors, and entry-level buyers.

Population forecasts indicate Parkville will gain 2,038 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.

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

Changes to local infrastructure significantly impact an area's performance. AreaSearch identified 58 projects likely affecting the region. Notable initiatives include the Australian Institute for Infectious Disease (AIID), the decommissioning and demolition of the Parkville Materials Handling Building (RMH Parkville), the Parkside Parkville Residential Development, and the Royal Park Master Plan Review. The following list details those expected to be most relevant.

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

Employment performance in Parkville has been broadly consistent with national averages

Parkville has a highly educated workforce with professional services being strongly represented. The unemployment rate in Parkville is 4.9%, with an estimated employment growth of 6.9% over the past year.

As of June 2025, there are 5,407 residents employed, with an unemployment rate of 5%. This is 0.3% higher than Greater Melbourne's rate of 4.6%. Workforce participation in Parkville is broadly similar to Greater Melbourne's at 64.1%. The key industries employing residents in Parkville are education & training, accommodation & food, and professional & technical services.

There is particularly strong specialization in accommodation & food, with an employment share of 2.2 times the regional level. In contrast, construction employs only 3.8% of local workers, which is below Greater Melbourne's rate of 9.7%. As at the Census, there are 4.4 workers for every resident in Parkville, indicating that it functions as an employment hub hosting more jobs than residents and attracting workers from surrounding areas. Between June 2024 and June 2025, employment levels increased by 6.9% while labour force increased by 7.1%, resulting in a rise of unemployment by 0.1 percentage points. By comparison, Greater Melbourne recorded employment growth of 3.5%, labour force growth of 4.0%, with unemployment rising by 0.5 percentage points. State-level data from Sep-25 shows that Victoria's employment grew by 1.08% year-on-year, adding 39,880 jobs, with the state unemployment rate at 4.7%. This is compared to the national unemployment rate of 4.5%, with the state's employment growth outpacing the national average of 0.26%. National employment forecasts from Jobs and Skills Australia for May 2025 project that national employment will expand by 6.6% over five years and 13.7% over ten years. Applying these industry-specific projections to Parkville's employment mix suggests local growth of approximately 6.9%% over five years and 14.1% over ten years, though this is a simple weighting extrapolation for illustrative purposes and does not take into account localised population projections.

The area's income profile falls below national averages based on AreaSearch analysis

AreaSearch's latest postcode level ATO data released for financial year ended June 2022 indicates Parkville's median income among taxpayers was $47,575, with an average of $81,577. This is amongst the highest in Australia, compared to Greater Melbourne's median of $54,892 and average of $73,761. Based on Wage Price Index growth of 10.11% since financial year ended June 2022, current estimates for Parkville would be approximately $52,385 (median) and $89,824 (average) as of March 2025. Census 2021 income data shows individual incomes at the 10th percentile were $588 weekly, while household income was at the 58th percentile. In Parkville, 35.2% of individuals earn within the $1,500 - $2,999 range, similar to regional levels where 32.8% occupy this range. Housing costs consume 17.6% of income in Parkville, but strong earnings place disposable income at the 57th percentile. The area's SEIFA income ranking places it in the 7th decile.

Parkville features a more urban dwelling mix with significant apartment living, with above-average rates of outright home ownership

Parkville's dwelling structure, as per the latest Census, consisted of 2.2% houses and 97.8% other dwellings (semi-detached, apartments, 'other' dwellings). This was similar to Melbourne metro's composition of 2.2% houses and 97.8% other dwellings. Home ownership in Parkville stood at 18.8%, with mortgaged dwellings at 14.8% and rented dwellings at 66.5%. The median monthly mortgage repayment in the area was $2,000, higher than Melbourne metro's average of $1,962. Median weekly rent in Parkville was recorded at $396, aligning with Melbourne metro's figure. Nationally, Parkville's mortgage repayments exceeded the Australian average of $1,863, while rents were higher than the national figure of $375.

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

Family households constitute 47.7% of all households, including 14.5% couples with children, 25.9% couples without children, and 5.4% single parent families. Non-family households comprise the remaining 52.3%, with lone person households at 36.2% and group households comprising 16.0%. The median household size is 2.1 people, larger than the Greater Melbourne average of 1.8 people.

The educational profile of Parkville exceeds national averages, with above-average qualification levels and academic performance metrics

Parkville has a notably high educational attainment among its residents aged 15 and above. 51.3% of these residents hold university qualifications, which is higher than the national average of 30.4% and the Victorian average of 33.4%. This indicates a significant educational advantage for Parkville residents. The most common qualification is bachelor degrees, held by 28.0%, followed by postgraduate qualifications at 20.4% and graduate diplomas at 2.9%.

Technical qualifications make up 11.9% of the educational achievements in this age group, with advanced diplomas at 5.8% and certificates at 6.1%. Educational participation is particularly high in Parkville, with 51.6% of residents currently enrolled in formal education. This includes 41.2% in tertiary education, 3.1% in secondary education, and 2.9% pursuing primary education. Parkville hosts a robust network of six schools, educating approximately 1,915 students. The area demonstrates significant socio-educational advantages and academic achievement, with an ICSEA score of 1121. Secondary education dominates, with six schools serving this purpose, while primary students typically attend schools in adjacent catchments. Parkville functions as an education hub, with 23.4 school places per 100 residents, significantly above the regional average of 6.9. This attracts students from surrounding communities to Parkville's educational facilities.

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

Parkville has 54 active public transport stops operating within its boundaries. These stops serve a mix of train, light rail, and bus services. There are 22 individual routes that collectively facilitate 17,081 weekly passenger trips.

The transport accessibility is rated as excellent, with residents typically located 148 meters from the nearest stop. On average, there are 2,440 trips per day across all routes, which equates to approximately 316 weekly trips per individual stop.

The level of general health in Parkville is notably higher than the national average with prevalence of common health conditions low among the general population though higher than the nation's average across older, at risk cohorts

Parkville shows health advantages with lower prevalence of common conditions compared to national averages, except for older cohorts at risk. Private health cover stands at approximately 61% of total population (4980 people), higher than Greater Melbourne's 56.0% and Australia's average of 55.3%. Mental health issues and asthma are the most prevalent conditions at 11.8% and 8.6%, respectively, with 71.6% reporting no medical ailments compared to Greater Melbourne's 79.8%.

The area has 8.7% residents aged 65 and over (710 people), higher than Greater Melbourne's 6.8%. Health outcomes among seniors require more attention than the broader population.

Parkville is among the most culturally diverse areas in the country based on AreaSearch assessment of a range of language and cultural background related metrics

Parkville's cultural diversity is evident with 30.4% of residents speaking a language other than English at home, and 39.2% born overseas. Christianity is the predominant religion in Parkville, accounting for 29.1%. While Judaism makes up only 0.4%, this is comparable to Greater Melbourne's 0.4%.

In terms of ancestry, English (21.2%) and Australian (17.9%) are significantly overrepresented compared to regional averages of 16.1% and 11.5%, respectively. Other ancestry comprises 12.6%. Notable divergences include Chinese (Parkville: 9.5%, Regional: 19.1%), Hungarian (Parkville: 0.4%, Regional: 0.2%), and Korean (Parkville: 0.7%, Regional: 1.5%).

Parkville hosts a very young demographic, ranking in the bottom 10% of areas nationwide

Parkville's median age is 24 years, which is lower than Greater Melbourne's 37 and significantly below the national average of 38 years. Compared to Greater Melbourne, Parkville has a higher proportion of residents aged 15-24 (42.5%) but fewer residents aged 5-14 (3.2%). This concentration of residents aged 15-24 is higher than the national average of 12.5%. Since the Census conducted on 28 August 2021, younger residents have caused a decrease in median age from 25.8 years to 24 years. Notably, the proportion of residents aged 15-24 has increased from 37.9% to 42.5%, while the proportion of residents aged 65-74 has decreased from 4.7% to 3.7%. By the year 2041, Parkville's age composition is expected to shift significantly. The demographic shift will be led by the 25-34 age group, which is projected to grow by 27%, adding 499 people and reaching a total of 2,367 residents in this age bracket from its current figure of 1,867.