Port Melbourne

Population growth drivers in Port Melbourne are slightly above average based on AreaSearch's ranking of recent, and medium term trends

Port Melbourne's population, as of February 2026, is approximately 16,905. This figure represents an increase of 713 people since the 2021 Census, which reported a population of 16,192. The change is inferred from the estimated resident population of 16,884 in June 2024 and an additional 23 validated new addresses since the Census date. This results in a population density ratio of 6,059 persons per square kilometer, placing Port Melbourne in the top 10% of national locations assessed by AreaSearch. Overseas migration contributed approximately 79.5% of overall population gains during recent periods.

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 utilises the VIC State Government's Regional/LGA projections from 2023, adjusted 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. By 2041, Port Melbourne is forecasted to experience a significant population increase in the top quartile of national statistical areas, with an expected expansion of 5,223 persons, reflecting a total increase of 30.8% over the 17 years.

Recent residential development output has been above average within Port Melbourne when compared nationally

Port Melbourne has averaged approximately 95 new dwelling approvals annually. Between financial years FY21 and FY25476 homes were approved, with an additional 3 approved so far in FY26. The population has declined recently, suggesting that new supply has kept pace with demand, providing good options for buyers.

The average expected construction cost value of new homes is $731,000, indicating a focus on the premium market. In this financial year, $15.1 million in commercial development approvals have been recorded, signifying balanced commercial development activity compared to Greater Melbourne. Port Melbourne shows around half the construction activity per person but ranks among the 90th percentile nationally for development activity, which has increased recently. New developments consist of 4% detached houses and 96% townhouses or apartments, appealing to downsizers, investors, and entry-level buyers.

With approximately 545 people per dwelling approval, Port Melbourne exhibits a developed market. By 2041, the population is projected to grow by 5,202 residents, potentially leading to housing supply lagging behind population growth if current construction levels persist, intensifying buyer competition and price growth.

Port Melbourne 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 33 projects that could impact this region. Notable projects include Barak Beacon Port Melbourne, Fishermans Bend Innovation Precinct, Johnston Street Apartments, and Wirraway Central. Below is a list of those likely to be most relevant.

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

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The labour market in Port Melbourne demonstrates typical performance when compared to similar areas across Australia

Port Melbourne has a highly educated workforce with notable representation in the technology sector. The unemployment rate is 4.3%, with an estimated employment growth of 4.2% over the past year. As of September 2025, 10,189 residents are employed, which is 0.4% below Greater Melbourne's unemployment rate of 4.7%.

Workforce participation is similar to Greater Melbourne's 71.0%. According to Census responses, 51.8% of residents work from home, potentially influenced by Covid-19 lockdowns. The dominant employment sectors are professional & technical, health care & social assistance, and finance & insurance. Port Melbourne specializes in professional & technical jobs, with an employment share 1.7 times the regional level, but has lower representation in health care & social assistance at 10.5% compared to the regional average of 14.2%.

The area offers limited local employment opportunities, as indicated by the working population count versus resident population. Between September 2024 and September 2025, employment increased by 4.2%, while labour force grew by 4.4%, leading to a 0.2 percentage point rise in unemployment rate. In contrast, Greater Melbourne had employment growth of 3.0% and labour force growth of 3.3%, with a 0.3 percentage point increase in unemployment rate. Jobs and Skills Australia's national employment forecasts from May-25 project national employment to expand by 6.6% over five years and 13.7% over ten years, with varying growth rates across sectors. Applying these projections to Port Melbourne's employment mix suggests local employment should increase by 7.0% over five years and 14.0% over ten years, based on a simple weighting extrapolation 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 2023 indicates that median assessed income in Port Melbourne SA2 is $77,736. The average income stands at $113,052. In comparison, Greater Melbourne has a median income of $57,688 and an average income of $75,164. Based on Wage Price Index growth of 8.25% since financial year 2023, current estimates for Port Melbourne would be approximately $84,149 (median) and $122,379 (average) as of September 2025. According to the 2021 Census, household, family, and personal incomes in Port Melbourne rank highly nationally, between the 85th and 96th percentiles. Income brackets show that 29.0% of locals (4,902 people) fall into the $4000+ category, unlike regional trends where 32.8% are within the $1,500 - 2,999 range. A significant 41.0% earn above $3,000 weekly. High housing costs consume 16.8% of income, but strong earnings place disposable income at the 83rd percentile nationally. The area's SEIFA income ranking places it in the 9th decile.

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

Port Melbourne's dwelling structure, as per the latest Census, consisted of 6.4% houses and 93.6% other dwellings (semi-detached, apartments, 'other' dwellings), contrasting with Melbourne metro's 67.9% houses and 32.1% other dwellings. Home ownership in Port Melbourne stood at 27.8%, with mortgaged dwellings at 29.0% and rented ones at 43.2%. The median monthly mortgage repayment was $2,515, above the Melbourne metro average of $2,000. The median weekly rent was $522, higher than Melbourne metro's $390. Nationally, Port Melbourne's mortgage repayments were significantly higher at $2,515 compared to Australia's average of $1,863, and rents were substantially above the national figure of $375.

Port Melbourne features high concentrations of lone person households, with a lower-than-average median household size

Family households account for 58.6% of all households, consisting of 21.1% couples with children, 28.2% couples without children, and 8.4% single parent families. Non-family households make up the remaining 41.4%, with lone person households at 38.1% and group households comprising 3.2% of the total. The median household size is 2.1 people, which is smaller than the Greater Melbourne average of 2.6.

Port Melbourne shows strong educational performance, ranking in the upper quartile nationally when assessed across multiple qualification and achievement indicators

Port Melbourne's residents aged 15+ have a notable educational advantage with 49.7% holding university qualifications, surpassing Australia's 30.4% and Victoria's 33.4%. Bachelor degrees are the most common at 31.5%, followed by postgraduate qualifications (13.4%) and graduate diplomas (4.8%). Vocational pathways account for 23.5%, with advanced diplomas at 11.7% and certificates at 11.8%. Educational participation is high, with 25.1% of residents currently enrolled in formal education.

This includes 7.8% in primary education, 6.1% in secondary education, and 5.5% pursuing tertiary education.

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

Port Melbourne has 57 active public transport stops, offering a mix of light rail and bus services. These are covered by 8 routes, serving 5,838 weekly passenger trips in total. Residents enjoy excellent transport accessibility, with an average distance of 137 meters to the nearest stop. As a mainly residential area, most residents commute outward using cars (70%), walking (9%) or cycling (6%). The average vehicle ownership is 0.7 per dwelling, below the regional norm. According to the 2021 Census, 51.8% of residents work from home, possibly due to COVID-19 conditions.

There are an average of 834 trips daily across all routes, equating to around 102 weekly trips per individual stop.

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

Port Melbourne's health outcomes show exceptional results according to AreaSearch's assessment. Mortality rates and chronic condition prevalence are very low across all age groups. Private health cover is exceptionally high at approximately 76% of the total population (12,864 people), compared to 56.7% in Greater Melbourne and 55.7% nationally.

The most common medical conditions are mental health issues affecting 7.5% of residents and asthma impacting 7.1%. A significant 73.3% of residents report being completely clear of medical ailments, slightly higher than the 72.6% in Greater Melbourne. Working-age residents have low chronic condition prevalence. The area has a higher proportion of seniors aged 65 and over at 19.6%, compared to 15.1% in Greater Melbourne (3,313 people). Health outcomes among seniors are strong, broadly in line with national rankings.

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

Port Melbourne's cultural diversity was significant, with 20.8% speaking a language other than English at home and 30.6% born overseas. Christianity dominated the religious landscape, accounting for 46.0%. However, Judaism saw an equal representation of 1.0%, matching Greater Melbourne's figure.

In terms of ancestry, the top groups were English (25.1%), Australian (18.2%), and Other (10.1%). Notably, Greeks (5.2%) and French (0.9%) were overrepresented compared to regional averages of 2.7% and 0.5%, respectively, while Russians showed a slight overrepresentation at 0.7%.

Port Melbourne's median age exceeds the national pattern

Port Melbourne's median age is 44, surpassing Greater Melbourne's figure of 37 and the national norm of 38. The 55-64 age group comprises 14.5% of Port Melbourne's population compared to Greater Melbourne, while the 15-24 cohort stands at 8.7%. Post-2021 Census, the 75-84 age group grew from 5.7% to 7.2%, and the 15-24 cohort increased from 7.4% to 8.7%. Conversely, the 35-44 cohort declined from 17.6% to 16.4%, and the 25-34 group dropped from 13.3% to 12.2%. By 2041, demographic modeling projects significant shifts in Port Melbourne's age profile. Notably, the 45-54 group is expected to grow by 51% (adding 1,407 people), reaching 4,158 from 2,750. The 0-4 group will see more modest growth of 6%, adding only 35 residents.