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 15,567 as of May 2026. This is an increase of 1,700 people since the 2021 Census, which recorded a population of 13,867. The growth is inferred from ABS' estimated resident population of 15,303 in June 2025 and 694 validated new addresses since the Census date. This results in a population density ratio of 8,107 persons per square kilometer, placing Richmond - North among the top 10% of locations assessed by AreaSearch. The area's 12.3% growth since the 2021 census exceeds both state (9.3%) and national averages. Overseas migration contributed approximately 88.6% of overall population gains in recent periods.

AreaSearch uses ABS/Geoscience Australia projections released in 2024 with a base year of 2022 for each SA2 area, and VIC State Government's Regional/LGA projections from 2023 with adjustments made employing weighted aggregation methods for areas not covered by the first data source. Growth rates by age group are applied across all areas for years 2032 to 2041. Future population dynamics predict exceptional growth in Richmond - North, placing it in the top 10 percent of statistical areas nationally. By 2041, the area is expected to increase by 6,674 persons based on latest annual ERP population numbers, reflecting a total increase of 41.2% over the 16-year period.

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 residential properties approved annually. Over the past five financial years, from FY-21 to FY-25, around 375 homes were granted approval, with a further 488 approved in FY-26 as of now. The average population growth per dwelling built over these years is approximately 0.7 people per year.

This indicates that supply has been meeting or exceeding demand, offering greater buyer choice and potential for population growth beyond projections. The average construction value of new homes is around $263,000, which is below regional norms, reflecting more affordable housing options. In FY-26, there have been commercial approvals totalling $20.8 million, suggesting balanced commercial development activity in the area. Compared to Greater Melbourne, Richmond - North has about three-quarters the rate of new dwelling approvals per person.

Nationally, it ranks around the 14th percentile for areas assessed, indicating somewhat limited buyer options but strengthening demand for established homes. Recent construction trends show 9.0% detached dwellings and 91.0% medium to high-density housing. This shift towards denser development provides accessible entry options, appealing to downsizers, investors, and entry-level buyers. With around 1121 people per dwelling approval, Richmond - North reflects a highly mature market. Population forecasts indicate that Richmond - North is expected to gain approximately 6,410 residents by 2041, based on the latest AreaSearch quarterly estimate. If current development rates continue, housing supply may struggle to keep pace with population growth, potentially increasing buyer competition and supporting price increases.

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

Changes to local infrastructure significantly influence an area's performance. AreaSearch has identified a total of 30 projects likely to impact the area. Notable projects include: 25 River Boulevard, North Richmond Precinct Renewal, Victoria Gardens Redevelopment, and Harrington Village. The following list details those most relevant.

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

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Richmond - North has seen below average employment performance when compared to national benchmarks

Richmond - North has a highly educated workforce with strong representation in professional services. The unemployment rate was 8.0% as of December 2025. Employment growth over the past year was estimated at 4.4%.

As of December 2025, 10,252 residents were employed while the unemployment rate was 3.2% higher than Greater Melbourne's rate of 4.8%. Workforce participation in Richmond - North was 78.7%, compared to Greater Melbourne's 69.9%. According to Census responses, 46.8% of residents worked from home. Dominant employment sectors were professional & technical, health care & social assistance, and retail trade.

The area had a particularly strong specialization in professional & technical services with an employment share 1.7 times the regional level. Construction had limited presence with 6.4% employment compared to the regional average of 9.7%. There was 1.1 worker for every resident as at the Census, indicating that the area functions as an employment hub hosting more jobs than residents and attracting workers from surrounding areas. Over the 12 months to December 2025, employment increased by 4.4% while labour force grew by 4.6%, causing the unemployment rate to rise by 0.2 percentage points. In Greater Melbourne, employment rose by 2.4%, labour force grew by 2.8%, and unemployment rose by 0.3 percentage points. Jobs and Skills Australia's national employment forecasts from May-25 suggest that Richmond - North's employment should increase by 7.2% over five years and 14.5% over ten years, based on industry-specific projections applied to the local employment mix.

Income metrics indicate excellent economic conditions, with the area achieving higher performance than 75% of national locations assessed by AreaSearch

The Richmond - North SA2 has a median taxpayer income of $66,020 and an average income of $89,078 according to the latest postcode level ATO data aggregated by AreaSearch for financial year 2023. This is significantly higher than the national averages, with Greater Melbourne having a median income of $57,688 and an average income of $75,164 in the same period. Based on Wage Price Index growth of 9.62% from financial year 2023 to March 2026, estimated incomes would be approximately $72,371 (median) and $97,647 (average). According to Census 2021 income data, individual earnings stand out at the 90th percentile nationally with a weekly income of $1,183. Income analysis shows that 32.6% of individuals in Richmond - North SA2 fall within the $1,500 - $2,999 earnings band (5,074 individuals), which is similar to the metropolitan region where 32.8% occupy 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 structures, as per the latest Census, consisted of 10.8% houses and 89.1% other dwellings (semi-detached, apartments, 'other' dwellings). This contrasts with Melbourne metro's figures of 67.9% houses and 32.1% other dwellings. Home ownership in Richmond - North stood at 15.4%, with mortgaged dwellings at 22.9% and rented dwellings at 61.6%. The median monthly mortgage repayment was $2,047, exceeding Melbourne metro's average of $2,000. The median weekly rent in Richmond - North was $400, compared to Melbourne metro's $390. Nationally, Richmond - North's mortgage repayments were higher than the Australian average of $1,863, and rents exceeded 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 account for 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 constitute the remaining 51.9%, with lone person households at 41.7% and group households comprising 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 educational attainment than national averages. 52.9% of its residents aged 15+ have university qualifications, compared to Australia's 30.4% and Victoria's 33.4%. Bachelor degrees are the most common at 35.6%, followed by postgraduate qualifications (12.9%) and graduate diplomas (4.4%). Vocational pathways account for 20.0% of qualifications, with advanced diplomas at 9.6% and certificates at 10.4%.

Educational participation is high, with 25.4% of residents currently enrolled in formal education. This includes tertiary education (10.8%), primary education (4.8%), and secondary education (3.9%).

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 operating within its boundaries. These comprise a mix of light rail and bus services, totaling 12 individual routes that facilitate 12,548 weekly passenger trips combined. Transport accessibility is rated as good, with residents on average located 205 meters from their nearest transport stop. As a predominantly residential area, most residents commute outward. The car remains the primary mode of transportation at 53%, followed by walking at 14% and train at 10%. Vehicle ownership averages 0.5 per dwelling, lower than the regional average.

According to the 2021 Census, a significant 46.8% of residents work from home, which may be influenced by COVID-19 conditions. Service frequency across all routes averages 1,792 trips per day, equating to approximately 358 weekly trips per individual stop.

Richmond - North's residents are extremely healthy with both young and old age cohorts seeing low prevalence of common health conditions

Analysis shows robust health metrics across Richmond - North. Mortality rates and chronic condition prevalence were low for both younger and older age groups. Private health cover was exceptionally high at approximately 65%, compared to 56.7% in Greater Melbourne and a national average of 55.7%.

Common medical conditions included mental health issues (10.5%) and asthma (8.5%), with 71.1% reporting no medical ailments, compared to 72.6% across Greater Melbourne. Health outcomes for those under 65 were better than average. The area had 11.8% of residents aged 65 and over (1,840 people), lower than Greater Melbourne's 15.0%. Senior health outcomes aligned with national rankings and the general population.

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 has high cultural diversity, with 33.9% speaking a language other than English at home and 39.2% born overseas by March 2016. Christianity is the main religion in Richmond-North, comprising 30.9%. However, Buddhism is overrepresented at 9.0%, compared to Greater Melbourne's 4.2%.

The top three ancestry groups are English (21.0%), Australian (15.8%), and Other (11.0%). Notably, Vietnamese (7.5%) and Chinese (8.1%) populations are higher than regional averages of 1.9% and 6.5%, respectively. Greek population is also slightly higher 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 (34.2%) but fewer residents aged 5-14 (4.2%). This concentration of 25-34 year-olds is significantly higher than the national figure of 14.6%. Between the 2016 and 2021 censuses, Richmond-North's median age decreased by 1.3 years to 33 from 34. During this period, the proportion of residents aged 25-34 increased from 31.2% to 34.2%, while those aged 35-44 rose from 16.7% to 18.2%. Conversely, the proportion of residents aged 5-14 decreased from 5.8% to 4.2%, and those aged 45-54 dropped from 11.2% to 9.8%. Demographic projections indicate that Richmond-North's age profile will change significantly by 2041, with the 25-34 age cohort expected to increase by 1,533 people (29%), reaching a total of 6,857 residents in this age group.