Parkville

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

Parkville's population is approximately 8,205 as of November 2025. This figure represents a rise of 908 people, marking a 12.4% increase since the 2021 Census which reported a population of 7,297. The change is inferred from the estimated resident population of 8,293 from the ABS as of June 2024 and address validation since the Census date. This results in a population density ratio of 2,025 persons per square kilometer, surpassing the average seen across national locations assessed by AreaSearch. Parkville's growth rate of 12.4% since the 2021 census exceeds both the national average (8.9%) and state averages, positioning it as a growth leader in the region. Overseas migration was the primary driver of population growth during recent periods.

AreaSearch is employing 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 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. Looking ahead, Parkville is projected to experience above-median population growth based on national statistical areas. By 2041, the area is expected to expand by 1,936 persons, reflecting a total gain of 24.7% over the 17-year period, according to the latest annual ERP population numbers.

The level of residential development activity in Parkville is very low in comparison to the average area assessed nationally by AreaSearch

Parkville has seen approximately 32 new homes approved annually over the past five financial years, totalling 161 homes. No approvals have been recorded so far in FY-26. On average, 0 new residents per year arrive per new home between FY-21 and FY-25, indicating supply is meeting or exceeding demand. New properties are constructed at an average value of $344,000.

This financial year has seen $323.7 million in commercial approvals registered, suggesting strong commercial development momentum. Compared to Greater Melbourne, Parkville records significantly lower building activity, 72.0% below the regional average per person. Recent development has been entirely comprised of attached dwellings, appealing to downsizers, investors, and entry-level buyers. Population forecasts indicate Parkville will gain 2,024 residents by 2041.

Development is keeping pace with projected growth, but increasing competition may arise as the population expands.

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

Changes to local infrastructure significantly affect an area's performance. AreaSearch has identified 65 projects that could impact this region. Notable ones include Australian Institute for Infectious Disease (AIID), Parkville Quarter, Parkside Parkville Residential Development, and Royal Park Master Plan Review. The following list details those 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.

Parkville has seen below average employment performance when compared to national benchmarks

Parkville has a highly educated workforce with strong professional services representation. Its unemployment rate was 4.9% in September 2025, with an estimated employment growth of 5.3% over the past year.

As of this date, 5,334 residents were employed, with an unemployment rate of 4.7%, slightly higher than Greater Melbourne's rate of 4.7%. Workforce participation was similar to Greater Melbourne's at 64.1%. Key industries included education & training, accommodation & food, and professional & technical services. The area had a particularly high specialization in accommodation & food, employing 2.2 times the regional level.

Conversely, construction employed only 3.8% of local workers, lower than Greater Melbourne's 9.7%. There were 4.4 workers per resident, indicating Parkville functioned as an employment hub hosting more jobs than residents and attracting workers from nearby areas. Between September 2024 and 2025, employment levels increased by 5.3% while the labour force grew by 5.0%, resulting in a decrease of unemployment by 0.2 percentage points. In comparison, Greater Melbourne recorded employment growth of 3.0%, labour force growth of 3.3%, with unemployment rising by 0.3 percentage points. State-level data to 25-Nov-25 showed Victoria's employment grew by 1.13% year-on-year, adding 41,950 jobs, with an unemployment rate of 4.7%. National employment forecasts from May-25 estimated national employment growth at 6.6% over five years and 13.7% over ten years. Applying these projections to Parkville's employment mix suggested local employment should increase by 6.9% over five years and 14.1% over ten years.

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

Parkville SA2 had a median income of $47,575 and an average income of $81,577 among taxpayers in financial year 2022, according to AreaSearch's latest postcode level ATO data. These figures were among the highest in Australia. In comparison, Greater Melbourne had a median income of $54,892 and an average income of $73,761 during the same period. By September 2025, estimates based on Wage Price Index growth suggest the median income would be approximately $53,360 and the average income around $91,497. Census 2021 data indicates individual incomes at the 10th percentile were $588 weekly, while household incomes ranked at the 58th percentile. The majority of individuals (35.2%) earned between $1,500 and $2,999 weekly, reflecting regional patterns where this income band is occupied by 32.8% of individuals. Housing costs consumed 17.6% of income, but strong earnings placed 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 is similar to Melbourne metro's composition of 2.2% houses and 97.8% other dwellings. Home ownership in Parkville was higher at 18.8%, with mortgaged dwellings at 14.8% and rented ones at 66.5%. The median monthly mortgage repayment was $2,000, above Melbourne metro's average of $1,962. Median weekly rent in Parkville was $396, matching Melbourne metro's figure but exceeding the national average of $375. Nationally, Parkville's mortgage repayments were higher than the Australian average of $1,863.

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

Family households account for 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 constitute 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, which is larger than the Greater Melbourne average of 1.8.

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

Parkville has a notably high level of educational attainment, with 51.3% of its residents aged 15 and above holding university qualifications. This figure is significantly higher than the national average of 30.4% and the Victorian state average of 33.4%. The area's residents have a substantial educational advantage, which positions them strongly for knowledge-based opportunities. Bachelor degrees are the most common type of university qualification held by Parkville residents aged 15 and above, with 28.0% of residents having completed one.

This is followed by postgraduate qualifications at 20.4% and graduate diplomas at 2.9%. Technical qualifications represent 11.9% of educational achievements for residents in this age group. Advanced diplomas account for 5.8%, while certificates make up 6.1%. Educational participation is particularly high in Parkville, with 51.6% of its residents currently enrolled in formal education. This includes 41.2% who are pursuing tertiary education, 3.1% who are studying at the secondary level, and 2.9% who are pursuing primary education.

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 include train stations, light rail stops, and bus stops. A total of 22 individual routes service these stops, collectively providing 17,081 weekly passenger trips.

The average distance from residents to the nearest transport stop is 148 meters. 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 better-than-average health outcomes with low prevalence of common conditions among its general population. However, older and at-risk cohorts have a higher prevalence compared to national averages. Approximately 61% of Parkville's total population (4,988 people) has private health cover, which is higher than Greater Melbourne's 56.0% and the national average of 55.3%.

Mental health issues and asthma are the most common conditions in Parkville, affecting 11.8 and 8.6% of residents respectively. About 71.6% of residents report no medical ailments, compared to Greater Melbourne's 79.8%. Parkville has 8.7% (712 people) of its population aged 65 and over, higher than Greater Melbourne's 6.8%. Health outcomes among seniors require more attention than the broader population.

Parkville 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

Parkville's population shows high cultural diversity, with 30.4% speaking a language other than English at home and 39.2% born overseas. Christianity is the predominant religion in Parkville, accounting for 29.1%. Judaism, however, is proportionally represented at 0.4%, matching Greater Melbourne's figure of 0.4%.

In terms of ancestry, the top groups are English (21.2%), Australian (17.9%), and Other (12.6%). Notably, Chinese ancestry is overrepresented in Parkville at 9.5% compared to the regional average of 19.1%, while Hungarian (0.4%) and Korean (0.7%) are also proportionally higher than their respective regional averages of 0.2% and 1.5%.

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

Parkville's median age of 24 years is notably lower than Greater Melbourne's 37 and significantly below the national average of 38 years. Compared to Greater Melbourne, Parkville has a higher concentration of residents aged 15-24 (42.5%) but fewer residents aged 5-14 (3.2%). This concentration of 15-24 year-olds is well above the national figure of 12.5%. Since the 2021 Census, younger residents have caused the median age to decrease by 1.8 years to 24. The proportion of residents aged 15-24 has increased from 37.9% to 42.5%, while the proportion of those aged 65-74 has decreased from 4.7% to 3.7%. By 2041, Parkville's age composition is expected to change notably. The 25-34 age group is projected to grow by 27% (496 people), reaching 2,367 from 1,870.