Albert Park
Household income reaches the 92.7th percentile and university attainment is 62.9%, or 32.8 percentage points above national levels, because the suburb attracts established professional households. Its density of 2,128.8 people per sq km and 37.2% outright ownership support a settled inner-city feel, although 15.4% vacancy and a crime rate of 96.5 per 1,000 warrant closer address-level checks. Compared with nearby South Melbourne, buyers should assess each street carefully because property form, tenure and exposure can change quickly across the inner south.
Population
6,044
Median Age
46.0
Household IncomeiMedian weekly household income (ABS Census)
$2,533/wk
DAs (12 months)iDevelopment Applications lodged in the past year
23
Median House
$2.1M
October to December 2025
Mortgage payments equal 31.9% of household income, above a common mortgage stress guide, because high purchase prices can outpace even affluent earnings. Stock is weighted to semi-detached homes at 62.2%, while 18.9% are separate houses and 18.7% are apartments; 38.3% of dwellings have 3 bedrooms. Compared with nearby Middle Park, inspect renovation quality, heritage constraints and exact street position rather than assuming every character home carries the same value.
For Buyers
Mortgage payments equal 31.9% of household income, above a common mortgage stress guide, because high purchase prices can outpace even affluent earnings. Stock is weighted to semi-detached homes at 62.2%, while 18.9% are separate houses and 18.7% are apartments; 38.3% of dwellings have 3 bedrooms. Compared with nearby Middle Park, inspect renovation quality, heritage constraints and exact street position rather than assuming every character home carries the same value.
For Investors
Albert Park presents a high-rent, high-vacancy investment equation. Weekly rent is $590 and vacancy is 15.4%, so tenant demand may be less defensive than the suburb's premium positioning suggests because a large share of homes can be available at once. Renting accounts for 37.2% of households, while 24 planning applications were recorded in 12 months, adding potential competition or upgrade activity. The suburb's established profile, 1.0% annual growth trend and Balanced migration driver point to measured rather than speculative expansion. Vacancy is higher than a tightly held rental market would usually imply.
Development Activity
Total DAs
29
Last 12 Months
23
YoY ChangeiYear-over-year change in DA lodgements
+475.0%
Avg DA CostiAverage estimated cost per DA in the past year
N/A
Monthly DA Lodgements
DA Categories
Schools in Albert Park
Open-register school locations for education access. This is not a school-quality ranking.
Albert Park Primary School
South Melbourne Park Primary School
Albert Park College
Demographics
Albert Park's resident base is older and more highly educated than national patterns: median age is 46, or 6 years above national, while university attainment is 62.9%, 32.8 percentage points higher. Household size averages 2.2 people, 0.3 below national, consistent with 41.8% of families being couples without children and 44.1% being couples with children. English, Irish and Scottish ancestry counts are 2,213, 984 and 722, with Greek ancestry at 589 and Greek spoken by 213 residents. Overseas-born residents make up 27.3%, 5.7 points above national. Compared with nearby South Melbourne, Albert Park's older, smaller-household profile is a more relevant buying signal than a generic inner-city label.
Age Distribution
Bedrooms
Dwelling Structure
18.9%
Houses
62.2%
Townhouse
18.7%
Apartment
Tenure
Albert Park's housing is compact and predominantly attached: 62.2% of dwellings are semi-detached, compared with 18.9% separate houses and 18.7% apartments. The bedroom mix leans to 3-bedroom homes at 38.3%, followed by 2-bedroom dwellings at 34.0%, helping explain why the suburb can appeal to couples and smaller families despite an average household size of 2.2. Ownership is split between 37.2% outright, 24.1% with a mortgage and 37.2% renting. Compared with nearby South Melbourne's similarly inner-urban stock, Albert Park's attached housing share makes dwelling form especially important.
Mortgage / mo
$3,500
Rent / wkiMedian weekly rent for new bonds (year ending Sep 2025), Homes Victoria bond data (year-ending median). Census 2021 median: $590.
$698
Bond data year ending Sep 2025 · houses $1,150 · units $643
HH Size
2.2
Personal Income / wk
$1,333
Vacancy Ratei% of dwellings unoccupied on Census night (ABS 2021)
15.4%
Unoccupied
457
Rent / IncomeiMedian rent as % of household income. Over 30% = housing stress
23.3%
Mortgage / IncomeiMedian mortgage as % of household income. Over 30% = housing stress
31.9% stressed
Community Profile
Languages Spoken at Home
Ancestry
Household Composition
44.1%
Couples with children
41.8%
Couples, no children
12.5%
Single parent
1,605
Total families
Economy & Employment
Albert Park's economic base is professional and service-led. Professional/Tech accounts for 21.7% of industry employment, followed by Healthcare at 13.7%, Finance at 9.3%, Education at 8.5% and Construction at 7.4%. Occupations reinforce that pattern, with 1,201 Professionals and 831 Managers, while unemployment is 3.4% and participation is 64.0%. Household income sits at the 92.7th percentile, above national levels, because knowledge-sector work and senior roles lift earning capacity. SEIFA places education and occupation in decile 10, but economic resources in decile 5, an important contrast: high qualifications do not make every household equally cash-rich. Albert Park therefore ranks above broader benchmarks for human capital, while affordability remains a constraint.
Unemployment
3.4%
Labour Force
3,233
Unemployed
110
Source: ABS Census 2021
Socio-Economic Indexes (SEIFA)iABS index ranking suburbs from 1 (most disadvantaged) to 10 (most advantaged)
Full-time
63.2%
Part-time
30.8%
Participation
64.0%
Employed
3,123
Full-time and part-time are shares of the employed. Source: ABS Census 2021
Occupations
Top Industries
University
62.9%
Postgraduate
21.7%
Born Overseas
27.3%
Dwellings
2,504
Transport to Work
Albert Park's inner-city setting supports a walkable, work-from-home lifestyle, with 55.1% working from home, 7.6% walking or cycling and 4.4% using public transport for travel to work. Three nearby government schools cover primary and secondary years, with 2 primary options and 1 secondary college, so families should check enrolment zones against the exact address. The suburb has 2,128.8 residents per sq km and an IRSAD decile of 10, placing socioeconomic advantage above most areas, but the crime rate is 96.5 per 1,000 and property and deception offences total 454. That contrast makes street selection, lighting and evening foot traffic more important than suburb-wide reputation. Compared with outer suburbs, car-free routines are more feasible, although the recorded public transport share is only 4.4%.
Drive
30.9%
Public Transport
4.4%
Walk / Cycle
7.6%
Work from Home
55.1%
Population Forecast
+1.0%/yr
(+69 people/yr)
EstablishedAlbert Park is an established market with a forecast annual growth trend of 1.0% and a Balanced migration driver, pointing to steady demand rather than a single inflow source. Compared with a rapid-growth corridor, this indicates measured expansion. Population change across the wider area is 13.9% over 10 years, while the shift trajectory is Mixed and affordability is labelled Stable, because premium prices can moderate how quickly new households enter. The shift outlook records 57.0% rent growth and 26.3% real income growth. Gentrification signals are uneven: one measure gives a score of 69 at the Active stage, while another gives 21 at Early signs. With 24 development applications in 12 months, change is more likely to come through incremental renewal and price pressure than a wholesale reset.
Historical + Forecast
Hamilton-Perry + Holt smoothing on ERP 2001-2025
Age Cohort Forecast
Primary Driver
Balanced
Net Overseas / yr
+53
Net Internal / yr
+8
Gentrification Signal
Early signs
Population +18% since 2011, Accelerating: 3% → 15%
Safety & Crime
Total Offences
583
Year ending June 2024
Rate per 1,000 People
96.5
Offence Categories
Source: Crime Statistics Agency Victoria / SA Police
National Ranking iPercentile rank among ~15,000 AU suburbs. 90% = higher than 90% of suburbs
How Albert Park compares to ~15,000 Australian suburbs
Frequently Asked Questions
What schools are in Albert Park?
Albert Park has 3 nearby government schools covering 2 primary options and 1 secondary college. School zones can cut across short distances, so confirm eligibility for the exact address before buying or leasing. Published enrolment details should be checked directly because the practical choice can differ by year level.
Is Albert Park safe?
Safety is mixed rather than uniform. Recorded crime is 583 offences, equal to 96.5 per 1,000 residents, with 454 property and deception offences and 70 crimes against the person. Compare the exact block, lighting and evening activity with nearby streets before deciding, because suburb-wide figures do not describe every pocket equally.
How is Albert Park's population changing?
Albert Park has 6,044 residents today. The wider-area forecast records 13.9% population change over 10 years, a 1.0% annual growth trend and a Balanced migration driver. Its shift trajectory is Mixed, while the median age of 46 is 6 years above national, suggesting established demand alongside gradual change rather than a rapid demographic reset.
How to read these comparisons
Phrases like "above the national average" reference the unweighted median across Australian suburbs with more than 1,000 residents, not population-weighted national figures. Suburb-level medians are more useful for ranking suburbs against each other; ABS census headlines are population-weighted (so dominated by Sydney and Melbourne) and can read very differently.
Current baseline (refreshed 2026-05-10): median age 40, university-educated 30.1%, born overseas 21.6%, average household size 2.5 people.
Data sources: ABS 2021 Census (demographics, income, tenure), Valuer-General Victoria (house prices), state education open registers (school locations), state Crime Statistics agencies (offences), council DA portals (development applications). Population forecasts use a Hamilton-Perry cohort model calibrated to ABS ERP.
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