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

Based on AreaSearch's analysis, Richmond - North's population is around 15,393 as of Feb 2026. This reflects an increase of 1,526 people (11.0%) since the 2021 Census, which reported a population of 13,867 people. The change is 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 population level equates to a density ratio of 8,017 persons per square kilometer, which lies in the top 10% of national locations assessed by AreaSearch, making land in the area a highly sought-after resource. Richmond - North's 11.0% growth since the 2021 census exceeded the national average (9.9%), marking it as a growth leader in the region. Population growth for the area was primarily driven by overseas migration, which contributed approximately 89.9% of overall population gains during recent periods.

AreaSearch is adopting ABS/Geoscience Australia projections for each SA2 area, as released in 2024 with 2022 as the base year. For any SA2 areas not covered by this data, AreaSearch is utilising the VIC State Government's Regional/LGA projections released in 2023, with adjustments made employing a method of weighted aggregation of population growth from LGA to SA2 levels. Growth rates by age group from these aggregations are also applied across all areas for years 2032 to 2041. Considering the projected demographic shifts, exceptional growth, placing it in the top 10 percent of national areas, is predicted over the period, with the area expected to increase by 7,286 persons by 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 around 75 new homes approved each year, with 375 homes approved over the past 5 financial years (between FY-21 and FY-25) and 487 so far in FY-26. At an average of just 0.7 new residents per year arriving per new home over the past 5 financial years (between FY-21 and FY-25), supply is meeting or surpassing demand, providing greater buyer choice and supporting potential for population growth above projections. New properties are constructed at an average value of $263,000‚‚below the regional average‚‚suggesting more affordable housing options for buyers. Additionally, $20.8 million in commercial approvals have been registered this financial year, indicating steady commercial investment activity.

Relative to Greater Melbourne, Richmond - North records about three-quarters of the building activity per person and ranks in the 14th percentile of areas assessed nationally, meaning more limited choices for buyers and supporting demand for existing properties. New building activity consists of 9.0% detached houses and 91.0% townhouses or apartments. This skew toward compact living offers affordable entry pathways and attracts downsizers, investors, and first-time purchasers. The location has approximately 1121 people per dwelling approval, demonstrating an established market.

Looking ahead, Richmond - North is expected to grow by 7,212 residents through to 2041 (from the latest AreaSearch quarterly estimate). Should current construction levels persist, housing supply could lag population growth, likely intensifying buyer competition and underpinning price growth.

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

Nothing can influence an area's performance as much as changes to local infrastructure, major projects, and planning initiatives. In total 29 projects have been identified by AreaSearch that are likely to have an impact on the area. Key projects include Elizabeth Street North Richmond Social Housing, Riverbend - The Park House, 675 Victoria Street Development, and Victoria Gardens Redevelopment, with the list below detailing those likely to be of most relevance.

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.

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

Richmond - North possesses a highly educated workforce, with professional services showing strong representation, an unemployment rate of 8.0%, and 4.4% in estimated employment growth over the past year. As of December 2025, 10,252 residents are in work while the unemployment rate is 3.2% above Greater Melbourne's rate of 4.8%, showing room for improvement, and workforce participation is well beyond standard (78.6% compared to Greater Melbourne's 71.3%). Based on Census responses, a high 46.8% of residents were found to work from home, though Covid-19 lockdown impacts should be considered.

Employment among residents is concentrated in professional & technical, health care & social assistance, and retail trade. The area shows particularly strong specialization in professional & technical, with an employment share of 1.7 times the regional level. On the other hand, construction is under-represented, with only 6.4% of Richmond - North's workforce compared to 9.7% in Greater Melbourne. With 1.1 workers for every resident, as at the Census, the area functions as an employment hub, hosting more jobs than residents and attracting workers from surrounding areas.

Based on AreaSearch analysis of SALM and ABS data, during the year to December 2025, employment levels increased by 4.4% and labour force increased by 4.6%, causing the unemployment rate to rise by 0.2 percentage points. This compares to Greater Melbourne, where employment grew by 2.4%, labour force expanded by 2.8%, and unemployment rose 0.3 percentage points. Jobs and Skills Australia's national employment forecasts from May-25 can offer further insight into potential future demand within Richmond - North. These projections, covering five and ten-year periods, have been mapped against the local employment profile to estimate growth patterns. While national employment is forecast to expand by 6.6% over five years and 13.7% over ten years, growth rates differ significantly between industry sectors. Applying these industry-specific projections to Richmond - North's employment mix suggests local employment should increase by 7.2% over five years and 14.5% over ten years (please note this is a simple weighting extrapolation for illustrative purposes and does not take into account localised population projections).

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 FY-23 reveals that income in the Richmond - North SA2 is among the highest in Australia, with the median assessed at $66,020 while the average income stands at $89,078. This contrasts with Greater Melbourne's figures of a median income of $57,688 and an average income of $75,164. Based on Wage Price Index growth of 8.25% since FY-23, current estimates would be approximately $71,467 (median) and $96,427 (average) as of September 2025. From the 2021 Census, individual earnings stand out at the 90th percentile nationally ($1,183 weekly). The earnings profile shows the predominant cohort spans 32.6% of locals (5,018 people) in the $1,500 - 2,999 category, reflecting patterns seen in the region where 32.8% similarly occupy this range. High housing costs consume 17.7% of income, though strong earnings still place disposable income at the 63rd percentile and 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

Dwelling structure within Richmond - North, as evaluated at the latest Census, comprised 10.8% houses and 89.1% other dwellings (semi-detached, apartments, 'other' dwellings), in comparison to Melbourne metro's 67.9% houses and 32.1% other dwellings. Meanwhile, the level of home ownership within Richmond - North lagged that of Melbourne metro, at 15.4%, with the remainder of dwellings either mortgaged (22.9%) or rented (61.6%). The median monthly mortgage repayment in the area was above the Melbourne metro average at $2,047, while the median weekly rent figure was recorded at $400, compared to Melbourne metro's $2,000 and $390. Nationally, Richmond - North's mortgage repayments are higher than the Australian average of $1,863, while rents exceed 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 dominate at 48.1% of all households, comprising 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 of 1.9 people 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

Educational attainment in Richmond - North significantly surpasses broader benchmarks, with 52.9% of residents aged 15+ holding university qualifications compared to 30.4% in Australia and 33.4% in VIC. This substantial educational advantage positions the area strongly for knowledge-based opportunities. Bachelor degrees lead at 35.6%, followed by postgraduate qualifications (12.9%) and graduate diplomas (4.4%). Vocational pathways account for 20.0% of qualifications among those aged 15+ – advanced diplomas (9.6%) and certificates (10.4%).

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

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

Public transport analysis reveals 35 active transport stops operating within Richmond - North, comprising a mix of light rail and buses. These stops are serviced by 12 individual routes, collectively providing 12,548 weekly passenger trips. Transport accessibility is rated as good, with residents typically located 205 meters from the nearest transport stop. As a primarily residential area, most residents commute outward; the car remains the dominant mode at 53%, with 14% walking and 10% by train. Vehicle ownership averages 0.5 per dwelling, which is below the regional average. A high 46.8% of residents work from home (2021 Census; may reflect COVID-19 conditions).

Service frequency averages 1,792 trips per day across all routes, equating to approximately 358 weekly trips per individual 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

Health outcomes data demonstrates outstanding results across Richmond - North, based on AreaSearch's assessment of mortality rates and chronic condition prevalence. Both young and old age cohorts see low prevalence of common health conditions, and the rate of private health cover is exceptionally high at approximately 65% of the total population (10,036 people). This compares to 56.7% across Greater Melbourne and a national average of 55.7%.

The most common medical conditions in the area are mental health issues and asthma, impacting 10.5% and 8.5% of residents, respectively, while 71.1% declared themselves as completely clear of medical ailments compared to 72.6% across Greater Melbourne. The under-65 population demonstrates better than average health outcomes. The area has 11.9% of residents aged 65 and over (1,839 people), which is lower than the 15.1% in Greater Melbourne. Health outcomes among seniors are particularly strong, with national rankings broadly in line with 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 scores highly on cultural diversity, with 33.9% of its population speaking a language other than English at home and 39.2% born overseas. The main religion in Richmond - North is Christianity, which makes up 30.9% of the population. However, the most apparent overrepresentation is in Buddhism, which comprises 9.0% of the population, compared to 4.2% across Greater Melbourne.

In terms of ancestry (country of birth of parents), the top three represented groups in Richmond - North are English, comprising 21.0% of the population, Australian, comprising 15.8% of the population, and Other, comprising 11.0% of the population. Additionally, there are notable divergences in the representation of certain other ethnic groups: Vietnamese is notably overrepresented at 7.5% of Richmond - North (vs 1.9% regionally), Greek at 3.2% (vs 2.7%), and Chinese at 8.1% (vs 6.5%).

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

With a median age of 33, Richmond - North is materially younger than the Greater Melbourne figure of 37 and is substantially under Australia's 38 years. Relative to Greater Melbourne, Richmond - North has a higher concentration of 25 - 34 residents (33.4%) but fewer 5 - 14 year-olds (4.1%). This 25 - 34 concentration is well above the national 14.4%. Since the 2021 Census, the area has become younger, with the median age dropping 1.0 years to 33 from 34. In particular, the 25 to 34 age group has grown from 31.2% to 33.4% of the population, while the 35 to 44 cohort increased from 16.7% to 17.8%. Conversely, the 5 to 14 cohort has declined from 5.8% to 4.1% and the 45 to 54 group dropped from 11.2% to 10.0%. Demographic modeling suggests Richmond - North's age profile will evolve significantly by 2041. The 25 to 34 age cohort is projected to increase solidly, expanding by 1,753 people (34%) from 5,147 to 6,901.