Richmond - North
Statistical Area - sa2

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 was approximately 15,369 as of August 2025. This figure represents a growth of 1,502 people (10.8%) since the 2021 Census, which recorded a population of 13,867. The increase is inferred from ABS's estimated resident population of 15,322 as of June 2024 and an additional 568 validated new addresses since the Census date. This results in a population density of 8,004 persons per square kilometer, placing Richmond - North among the top 10% of locations assessed by AreaSearch. The area's growth rate exceeded both national (8.6%) and state averages since the 2021 census. Overseas migration contributed approximately 89.9% 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 employs VIC State Government's Regional/LGA projections released in 2023, adjusting using weighted aggregation from LGA to SA2 levels. Growth rates by age group are applied across all areas for the years 2032 to 2041. Future population dynamics predict exceptional growth, with Richmond - North expected to increase by 7,286 persons to 2041 based on latest numbers, marking a total increase of 47.1% over the 17-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 recorded approximately 75 residential properties granted approval each year. Over the past five financial years, from FY21 to FY25, around 375 homes were approved. As of FY26, about 486 homes have been approved so far.

The average number of people moving to the area for each dwelling built over these five years is approximately 0.7 per year. This suggests 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 $764,000, indicating a focus on the premium segment with upmarket properties. This financial year, there have been approximately $20.8 million in commercial approvals, suggesting balanced commercial development activity compared to residential development.

When measured against Greater Melbourne, Richmond - North has about three-quarters the rate of new dwelling approvals per person, placing it among the 14th percentile of areas assessed nationally. This indicates somewhat limited buyer options but strengthening demand for established homes. Recent construction trends show approximately 9.0% detached dwellings and 91.0% medium to high-density housing, reflecting a shift towards denser development. This trend 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 with a population forecast of gaining 7,236 residents by 2041. At current development rates, housing supply may struggle to match population growth, potentially heightening buyer competition and supporting price increases in the future.

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

The performance of an area can significantly be influenced by changes to local infrastructure, major projects, and planning initiatives. AreaSearch has identified a total of 30 such projects that are likely to impact the area. Notable among these are Elizabeth Street North Richmond Social Housing, Victoria Gardens Redevelopment, Riverbend - The Park House, and 675 Victoria Street Development. The following list details those projects deemed most relevant.

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

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

Richmond - North has an educated workforce with strong professional services representation. Its unemployment rate was 8.0% in June 2025, with an estimated employment growth of 5.7% over the past year.

As of June 2025, 10,414 residents are employed while the unemployment rate is 3.4% higher than Greater Melbourne's rate of 4.6%. Workforce participation in Richmond - North is 71.6%, compared to Greater Melbourne's 64.1%. Dominant employment sectors include professional & technical, health care & social assistance, and retail trade. The area specializes in professional & technical jobs, with an employment share 1.7 times the regional level.

Construction has limited presence at 6.4% compared to the regional average of 9.7%. There is a ratio of 1.1 workers per resident, indicating the area functions as an employment hub attracting external workers. Between June 2024 and June 2025, employment increased by 5.7%, while labour force grew by 7.2%, leading to a rise in unemployment rate by 1.3 percentage points. In contrast, Greater Melbourne saw employment growth of 3.5% and an unemployment rate increase of 0.5 percentage points. State-level data from Sep-25 shows Victoria's employment grew by 1.08% year-on-year, with an unemployment rate of 4.7%. National employment forecasts project a 6.6% growth over five years and 13.7% over ten years. Applying these projections to Richmond - North's employment mix suggests local growth of approximately 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

Richmond North has a median taxpayer income of $63,615 and an average income of $84,961 based on the latest postcode level ATO data aggregated by AreaSearch for the financial year 2022. These figures are notably high compared to Greater Melbourne's median income of $54,892 and average income of $73,761 in the same period. Using a Wage Price Index growth rate of 10.11% from financial year 2022 to March 2025, estimated incomes would be approximately $70,046 (median) and $93,551 (average). According to Census 2021 income data, individual earnings at the 90th percentile nationally are $1,183 weekly. In Richmond North, 32.6% of individuals earn between $1,500 and $2,999 per week. This is similar to the metropolitan region where 32.8% fall within this earnings band. High housing costs consume 17.7% of income in Richmond North, yet strong earnings place disposable income at the 64th 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). In comparison, Melbourne metro had 12.8% houses and 87.2% other dwellings. Home ownership in Richmond - North stood at 15.4%, with mortgaged dwellings at 22.9% and rented ones at 61.6%. The median monthly mortgage repayment was $2,047, below Melbourne metro's average of $2,326. Median weekly rent in Richmond - North was $400, compared to Melbourne metro's $451. 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 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 make up the remaining 51.9%, with lone person households at 41.7% and group households comprising 10.3% of the total. The median household size is 1.9 people, smaller than the Greater Melbourne average of 2.0.

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 Australian and Victorian averages. 52.9% of its residents aged 15 and above hold university qualifications, compared to 30.4% nationally and 33.4% in Victoria. 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%, 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 10.8% in tertiary, 4.8% in primary, and 3.9% in secondary education. The area has a robust network of 8 schools educating approximately 1,345 students, with above-average socio-educational conditions (ICSEA: 1076). Educational provision is conventional, split between 3 primary and 5 secondary institutions. Note: for schools showing 'n/a' in enrolments, please refer to the parent campus.

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

Richmond-North has 32 active public transport stops. These include train, light rail, and bus services. There are 8 routes in total, serving 7,225 weekly passenger trips.

Residents have good accessibility to these stops, with an average distance of 204 meters to the nearest one. Daily service frequency is 1,032 trips across all routes, equating to around 225 weekly trips per stop.

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

Analysis of health metrics shows strong performance throughout Richmond - North. Both young and old age cohorts saw low prevalence of common health conditions. The rate of private health cover was found to be exceptionally high at approximately 62% of the total population (9,590 people).

This compares to 69.8% across Greater Melbourne. Nationally, the average is 55.3%. The most common medical conditions in the area were mental health issues and asthma, impacting 10.5 and 8.5% of residents respectively. Seventy-one point one percent declared themselves completely clear of medical ailments, compared to 70.6% across Greater Melbourne. The area has eleven point seven percent of residents aged 65 and over (1,802 people). Health outcomes among seniors are particularly strong, broadly in line with the general population's health profile.

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 a high cultural diversity, with 33.9% of its population speaking a language other than English at home and 39.2% born overseas. Christianity is the predominant religion in Richmond-North, making up 30.9% of people. However, Buddhism is significantly overrepresented at 9.0%, compared to Greater Melbourne's average of 3.6%.

The top three ancestry groups are English (21.0%), Australian (15.8%), and Other (11.0%). Notably, Vietnamese (7.5%) is overrepresented in Richmond-North compared to the regional figure of 2.4%, Greek at 3.2% versus 2.8%, and Chinese at 8.1% compared to 4.4%.

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 average of 38 years. Compared to Greater Melbourne, Richmond-North has a higher concentration of residents aged 25-34 (33.7%) but fewer residents aged 5-14 (4.3%). This concentration of 25-34 year-olds is significantly higher than the national average of 14.5%. Between the 2016 and 2021 censuses, Richmond-North's median age decreased by 1.1 years to 33 from 34. The 25-34 age group grew from 31.2% to 33.7%, while the 5-14 cohort declined from 5.8% to 4.3%. Additionally, the 45-54 age group dropped from 11.2% to 10.1%. By 2041, demographic modeling projects that Richmond-North's age profile will change significantly. The 25-34 age cohort is expected to increase by 1,721 people (33%), growing from 5,179 to 6,901 residents.