Richmond - North

Richmond - North lies within the top quartile of areas nationally for population growth performance according to AreaSearch analysis of recent, and medium to long-term trends

Richmond - North's population is around 15,393 as of February 2026. This reflects an increase of 1,526 people since the 2021 Census, which reported a population of 13,867 people. The change was inferred from the estimated resident population of 15,319 from the ABS as of June 2024 and an additional 564 validated new addresses since the Census date. This level of population equates to a density ratio of 8,017 persons per square kilometer, placing Richmond - North in the top 10% of national locations assessed by AreaSearch. The area's growth rate of 11.0% since the 2021 census exceeded the national average of 9.9%. Overseas migration contributed approximately 89.9% of overall population gains during recent periods.

AreaSearch is adopting 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 released in 2023, adjusting employing 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. Based on these projections, exceptional growth is predicted over the period with the area expected to increase by 7,286 persons to 2041 based on the latest annual ERP population numbers, reflecting a gain of 46.9% in total over the 17 years.

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

Richmond - North has seen approximately 75 new homes approved annually. Over the past five financial years, from FY-21 to FY-25, around 375 homes were approved, with a further 487 approved so far in FY-26. On average, about 0.7 new residents have arrived per new home each year during this period.

This indicates that supply is meeting or exceeding demand, offering more choices for buyers and supporting potential population growth beyond projections. The average construction cost of these properties was around $263,000, which is below the regional average, suggesting more affordable housing options. In FY-26, approximately $20.8 million in commercial approvals have been registered, indicating steady investment activity in the area. Compared to Greater Melbourne, Richmond - North has about three-quarters the building activity per person and ranks among the 14th percentile nationally, offering limited choices for buyers but supporting demand for existing properties.

The new building activity in Richmond - North consists of approximately 9.0% detached houses and 91.0% townhouses or apartments, favoring compact living options that cater to downsizers, investors, and first-time purchasers. As of now, there are about 1121 people per dwelling approval, reflecting an established market. Looking ahead, Richmond - North is projected to grow by around 7,212 residents by the year 2041, according to the latest AreaSearch quarterly estimate. If current construction levels continue, housing supply may lag behind population growth, potentially intensifying buyer competition and driving up property prices.

Richmond - North has very high levels of nearby infrastructure activity, ranking in the top 20% nationally

Changes in local infrastructure significantly affect an area's performance. AreaSearch has identified 29 projects likely to impact the area. Notable ones include Elizabeth Street North Richmond Social Housing, Riverbend - The Park House, 675 Victoria Street Development, and Victoria Gardens Redevelopment. Below is a list detailing those most relevant.

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

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The employment landscape in Richmond - North shows performance that lags behind national averages across key labour market indicators

Richmond - North has an educated workforce with strong professional services representation. Its unemployment rate was 7.8% in September 2025, with estimated employment growth of 4.8% over the past year. As of this date, 10,180 residents were employed while the unemployment rate was 3.1% higher than Greater Melbourne's rate of 4.7%.

Workforce participation was high at 77.8%, compared to Greater Melbourne's 71.0%. Census responses showed that 46.8% of residents worked from home, potentially influenced by Covid-19 lockdowns. Employment in Richmond - North is concentrated in professional & technical services (1.7 times the regional level), health care & social assistance, and retail trade. Construction employment is under-represented at 6.4%, compared to Greater Melbourne's 9.7%.

The area functions as an employment hub with 1.1 workers per resident. Between September 2024 and September 2025, employment levels increased by 4.8% while the labour force grew by 4.9%, causing the unemployment rate to rise by 0.1 percentage points. In comparison, Greater Melbourne's employment growth was 3.0%, labour force expansion was 3.3%, and unemployment rose by 0.3 percentage points. National employment forecasts from Jobs and Skills Australia, issued in May-25, project national employment growth of 6.6% over five years and 13.7% over ten years. Applying these projections to Richmond - North's employment mix suggests local employment should increase by 7.2% over five years and 14.5% over ten years.

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 that Richmond - North SA2 had one of Australia's highest incomes with a median of $66,020 and an average of $89,078. This contrasts with Greater Melbourne's median income of $57,688 and average of $75,164. Based on Wage Price Index growth of 8.25% since financial year 2023, current estimates suggest a median income of approximately $71,467 and an average of $96,427 by September 2025. The 2021 Census data indicates that individual earnings at the 90th percentile nationally were $1,183 weekly. In Richmond - North SA2, 32.6% of locals (5,018 people) earned between $1,500 and $2,999 weekly, reflecting regional patterns where 32.8% fall within this range. High housing costs consume 17.7% of income, but strong earnings place disposable income at the 63rd percentile nationally. The area's SEIFA income ranking places it in the 8th decile.

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

Richmond - North's dwelling structure, as per the latest Census, had 10.8% houses and 89.1% other dwellings (semi-detached, apartments, 'other' dwellings). This compares to Melbourne metro's 67.9% houses and 32.1% other dwellings. Home ownership in Richmond - North was at 15.4%, with mortgaged dwellings at 22.9% and rented ones at 61.6%. The median monthly mortgage repayment was $2,047, higher than Melbourne metro's $2,000. The median weekly rent was $400, compared to Melbourne metro's $390. Nationally, Richmond - North's mortgage repayments exceeded the Australian average of $1,863, while rents were higher than the national figure of $375.

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

Family households constitute 48.1% of all households, including 12.5% couples with children, 25.6% couples without children, and 7.9% single parent families. Non-family households comprise the remaining 51.9%, with lone person households at 41.7% and group households making up 10.3%. The median household size is 1.9 people, which is smaller than the Greater Melbourne average of 2.6.

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

Richmond - North has a higher percentage of residents aged 15 and above with university qualifications compared to national and state averages. Specifically, 52.9% of its residents have such qualifications, while Australia as a whole stands at 30.4%, and Victoria at 33.4%. This indicates a significant educational advantage for the area. Bachelor degrees are the most common type of qualification held by residents in this category, with 35.6%.

Postgraduate qualifications follow at 12.9%, and graduate diplomas make up 4.4% of these qualifications. Vocational pathways account for 20.0% of all qualifications among those aged 15 and above. Advanced diplomas constitute 9.6%, while certificates represent 10.4%. Educational participation is notably high in Richmond - North, with 25.4% of residents currently enrolled in formal education. This includes 10.8% pursuing tertiary education, 4.8% in primary education, and 3.9% in secondary education.

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

Richmond - North has 35 active public transport stops, including lightrail and bus services. These are served by 12 routes, providing a total of 12,548 weekly passenger trips. The average distance to the nearest stop for residents is 205 meters, indicating good accessibility. In this residential area, most commuters travel outward using cars (53%), while 14% walk and 10% use trains. On average, there are 0.5 vehicles per dwelling, below the regional average. According to the 2021 Census, 46.8% of residents work from home, which may be influenced by COVID-19 conditions.

The service frequency averages 1,792 trips per day across all routes, equating to approximately 358 weekly trips per stop.

Richmond - North's residents boast exceedingly positive health performance metrics with both young and old age cohorts seeing low prevalence of common health conditions

Richmond - North demonstrates excellent health outcomes based on AreaSearch's assessment of mortality rates and chronic condition prevalence. Both younger and older age cohorts have low prevalence of common health conditions. Private health cover is exceptionally high at approximately 65% of the total population (10,036 people), compared to 56.7% across Greater Melbourne and a national average of 55.7%.

The most prevalent medical conditions in the area are mental health issues (10.5%) and asthma (8.5%), while 71.1% of residents report being completely clear of medical ailments, compared to 72.6% across Greater Melbourne. Health outcomes for the under-65 population are better than average. The area has 11.9% of residents aged 65 and over (1,839 people), lower than the 15.1% in Greater Melbourne. Health outcomes among seniors are particularly strong, broadly in line with national rankings.

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

Richmond-North scores highly in cultural diversity, with 33.9% speaking a language other than English at home and 39.2% born overseas. Christianity is the main religion, comprising 30.9%. Buddhism, however, is overrepresented at 9.0%, compared to 4.2% across Greater Melbourne.

The top three ancestry groups are English (21.0%), Australian (15.8%), and Other (11.0%). Notably, Vietnamese (7.5%) and Chinese (8.1%) are overrepresented in Richmond-North compared to regional averages of 1.9% and 6.5%, respectively. Greek representation is also notable at 3.2%.

Richmond - North hosts a young demographic, positioning it in the bottom quartile nationwide

Richmond-North has a median age of 33, which is younger than Greater Melbourne's figure of 37 and Australia's national median age of 38. Compared to Greater Melbourne, Richmond-North has a higher proportion of residents aged 25-34 (33.4%) but fewer residents aged 5-14 (4.1%). This concentration of 25-34 year-olds is significantly higher than the national figure of 14.4%. Between the 2016 and 2021 censuses, Richmond-North's median age decreased by one year to 33 from 34. Specifically, the proportion of residents aged 25 to 34 increased from 31.2% to 33.4%, while those aged 35 to 44 rose from 16.7% to 17.8%. Conversely, the proportion of residents aged 5 to 14 decreased from 5.8% to 4.1%, and those aged 45 to 54 dropped from 11.2% to 10.0%. By 2041, demographic modeling projects significant changes in Richmond-North's age profile, with the 25-34 age cohort expected to increase by 1,753 people (34%), reaching a total of 6,901 residents.