Elizabeth Bay
Almost nothing here sits on the ground: 99.2% of dwellings are apartments and just 0.3% are separate houses, packed into a 0.25 km2 footprint at 19,442 residents per km2, among the densest pockets in Sydney. The 4,878 residents skew older and renter heavy, with a median age of 43, three years above national, and 60.5% renting against a 22.6% outright ownership share. University qualifications reach 64.7%, which is 34.6 points above the national figure, and household income sits in the 80th percentile, yet the vacancy rate runs at 20.9%, a sign the apartment supply outpaces tenant demand. The median house price of $1,070,000 looks modest for the eastern harbour fringe precisely because detached stock barely exists.
Population
4,878
Median Age
43.0
Household IncomeiMedian weekly household income (ABS Census)
$2,116/wk
DAs (12 months)iDevelopment Applications lodged in the past year
55
Median House
$1.1M
2024-2025 (PSI derived)
Buying a freestanding home here is almost impossible: separate houses are 0.3% of stock while apartments make up 99.2%, so the $1,070,000 median house price reflects a thin, atypical slice rather than the everyday purchase. The real market is small dwellings, with 57.7% of homes carrying zero to one bedroom and another 31.9% holding two, leaving only 1.4% at four-plus bedrooms. That compact mix suits singles and couples more than families, which shows in the 1.5 person average household, a full person below national. Monthly mortgage repayments average $2,582, giving a mortgage-to-income ratio of 28.2%, below the 30% stress threshold, so committed buyers are not overstretched. PSI-derived medians slid 27.3% from $1,295,000 in 2024 to $941,000 in 2025, signalling a soft entry window for apartment buyers.
For Buyers
Buying a freestanding home here is almost impossible: separate houses are 0.3% of stock while apartments make up 99.2%, so the $1,070,000 median house price reflects a thin, atypical slice rather than the everyday purchase. The real market is small dwellings, with 57.7% of homes carrying zero to one bedroom and another 31.9% holding two, leaving only 1.4% at four-plus bedrooms. That compact mix suits singles and couples more than families, which shows in the 1.5 person average household, a full person below national. Monthly mortgage repayments average $2,582, giving a mortgage-to-income ratio of 28.2%, below the 30% stress threshold, so committed buyers are not overstretched. PSI-derived medians slid 27.3% from $1,295,000 in 2024 to $941,000 in 2025, signalling a soft entry window for apartment buyers.
For Investors
A 60.5% renter share and weekly rent of $500 hand landlords a deep, ready tenant pool, but the 20.9% vacancy rate is the warning sign: roughly one in five dwellings sits empty, well above a healthy market, so the pool is shallow in practice. Against the $1,070,000 median that rent implies a gross yield near 2.4%, low but stronger than premium harbour suburbs nearby. Demand support is real, with net overseas migration adding 206 residents a year as the primary driver, though net internal migration removes 91. Rent has climbed 39.8% over the period and development stays measured at 54 applications in 12 months, mostly alterations and flat-building modifications rather than new supply. The case rests on rent escalation and migration inflow more than yield, with vacancy the variable to watch.
Development Activity
Total DAs
216
Last 12 Months
55
YoY ChangeiYear-over-year change in DA lodgements
+41.0%
Avg DA CostiAverage estimated cost per DA in the past year
N/A
Monthly DA Lodgements
DA Categories
Demographics
The median age of 43 runs 3.0 years above national, and the resident base is unusually solo: average household size is 1.5, a full person below the national figure, and 70.5% of the 2,095 families are couples with no children against just 372 couples with children. Overseas-born residents reach 36.7%, which is 15.1 points above national, yet the language mix stays light, led by French (38), Portuguese (28) and Italian (23), pointing to a Western expat lean rather than a large non-English-speaking base. Ancestry is heavily Anglo-Celtic, with English (1,831), Irish (793) and Scottish (639) the top groups. University attainment of 64.7% sits 34.6 points above national, among the highest tiers anywhere, which fits the professional, child-free renter profile that dominates the area.
Age Distribution
Bedrooms
Dwelling Structure
0.3%
Houses
0.5%
Townhouse
99.2%
Apartment
Tenure
Tenure is renter-led: 60.5% rent, 22.6% own outright and only 16.8% carry a mortgage, so the suburb runs more like a rental tower district than an owner-occupier neighbourhood. The stock is extreme, with apartments at 99.2% and separate houses at 0.3%, which is why bedroom counts cluster small, 57.7% at zero to one bedroom and 31.9% at two. The PSI-derived median fell 27.3% from a $1,295,000 peak in 2024 to $941,000 in 2025, while the headline median house price reads $1,070,000. Both rent-to-income at 23.6% and mortgage-to-income at 28.2% stay below stress thresholds, a comfort that exists because incomes sit in the 80th percentile and the small dwellings keep absolute repayments contained relative to detached-house markets.
Median House Price Trend
Source: State Valuer-General
Mortgage / mo
$2,582
Rent / wk
$500
HH Size
1.5
Personal Income / wk
$1,676
Vacancy Ratei% of dwellings unoccupied on Census night (ABS 2021)
20.9%
Unoccupied
762
Rent / IncomeiMedian rent as % of household income. Over 30% = housing stress
23.6%
Mortgage / IncomeiMedian mortgage as % of household income. Over 30% = housing stress
28.2%
Community Profile
Languages Spoken at Home
Ancestry
Household Composition
70.5%
Couples, no children
2,095
Total families
Economy & Employment
The working population is concentrated in high-skill sectors: Professional/Tech leads at 24.8% (643 workers), Finance follows at 11.2% (289) and Healthcare at 10.4% (268), with Education at 7.6% and Public Admin at 6.8%. By occupation, Professionals (1,450) and Managers (707) dominate, consistent with the 64.7% university attainment that runs 34.6 points above national. Full-time employment is high at 75.4% and participation reads 65.1%, while unemployment sits at 5.0%. One genuine anomaly: despite 80th-percentile household income and high education, all four SEIFA indexes score decile 1, the lowest tier (IRSAD 717, IEO 773). That contradiction stems from the renter-majority, small-household structure depressing the aggregate resource and disadvantage measures rather than reflecting real deprivation.
Unemployment
22.2%
Labour Force
3,874
Unemployed
860
Quarterly Trend
Source: SALM Dec-25
Socio-Economic Indexes (SEIFA)iABS index ranking suburbs from 1 (most disadvantaged) to 10 (most advantaged)
Full-time
75.4%
Part-time
19.6%
Participation
65.1%
Employed
2,899
Occupations
Top Industries
University
64.7%
Postgraduate
21.6%
Born Overseas
36.7%
Dwellings
2,869
Transport to Work
Daily life leans away from the car: only 40.5% drive to work, below the national norm, while 37.2% walk or cycle and 19.1% take public transport, reflecting the dense 0.25 km2 footprint where most amenities sit within a short walk. No schools are recorded inside the boundary, so the few families present rely on institutions in neighbouring suburbs, a practical trade-off in a precinct where 70.5% of families are couples with no children. Volunteering runs at 17.8% and 5.3% of residents, about 245 people, need daily assistance, modest for a median age of 43. Crime statistics are not available in this dataset, so safety cannot be quantified here, though the high-income, professional profile is consistent with a low-disadvantage residential setting.
Drive
40.5%
Public Transport
19.1%
Walk / Cycle
37.2%
Work from Home
N/A
Population Forecast
+0.79%/yr
(+91 people/yr)
EstablishedGrowth is steady but modest: the trend annual rate is 0.79%, adding about 91 residents a year, and the 10-year change is 9.6%, classifying the area as established rather than booming. Overseas migration is the sole positive driver at a net 206 a year, offset by a net internal outflow of 91, so the population would stall without inbound arrivals. The gentrification reading is early signs, scoring 30 to 44, supported by a population up roughly 15% since 2011 and an acceleration from 4% to 11% growth. Affordability has worsened, moving from 44.4% in 2011 to 48.9% in 2021, while real income grew only 3.0% over the decade, a gap that explains why the rental base keeps expanding faster than ownership.
Historical + Forecast
Hamilton-Perry + Holt smoothing on ERP 2001-2025
Age Cohort Forecast
Primary Driver
Overseas Migration
Net Overseas / yr
+206
Net Internal / yr
-91
Gentrification Signal
Early signs
Population +15% since 2011, Strong overseas inflow +206/yr, Accelerating: 4% → 11%
National Ranking iPercentile rank among ~15,000 AU suburbs. 90% = higher than 90% of suburbs
How Elizabeth Bay compares to ~15,000 Australian suburbs
Frequently Asked Questions
Is Elizabeth Bay a good suburb to live in?
It suits professionals and couples more than families: household income sits in the 80th percentile and university attainment reaches 64.7%, which is 34.6 points above national. The trade-offs are an apartment-only stock at 99.2% of dwellings and a high 20.9% vacancy rate.
What is the median house price in Elizabeth Bay?
The median house price is $1,070,000, modest for the eastern harbour fringe because detached homes are just 0.3% of stock. PSI-derived medians fell 27.3% from $1,295,000 in 2024 to $941,000 in 2025, and weekly rent averages $500.
What schools are in Elizabeth Bay?
No schools are recorded inside the 0.25 km2 Elizabeth Bay boundary in this dataset, so families rely on schools in neighbouring suburbs. The resident base is highly educated, with university attainment at 64.7%, around 34.6 points above the national figure.
Is Elizabeth Bay safe?
Detailed crime statistics are not available for Elizabeth Bay in this dataset. As an indirect signal, only 5.3% of residents, about 245 people, need daily assistance, and household income sits in the 80th percentile, both consistent with a low-disadvantage residential area.
Is Elizabeth Bay good for property investment?
Rent of $500 a week against a $1,070,000 median gives a gross yield near 2.4%, and the renter share is high at 60.5%. The catch is a 20.9% vacancy rate signalling apartment oversupply, though net overseas migration of 206 a year supports underlying demand.
How is Elizabeth Bay's population changing?
Population growth runs about 0.79% a year, adding roughly 91 residents annually, with a 9.6% rise over 10 years. Net overseas migration of 206 a year is the only positive driver, offset by a net internal outflow of 91, so growth depends on inbound arrivals.
What languages are spoken in Elizabeth Bay?
About 36.7% of residents were born overseas, 15.1 points above the national figure, but the language mix is light: French (38 speakers), Portuguese (28), Italian (23) and German (21) are the most common non-English languages, pointing to a Western expat lean.
How much development is happening in Elizabeth Bay?
There were 54 development applications lodged in the past 12 months. Most are alterations to existing buildings or modifications to residential flat buildings rather than new supply, consistent with an established, apartment-dominant area where 99.2% of dwellings are units.
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), state Valuer-General (house prices), Department of Jobs SALM (unemployment), ACARA (school ICSEA), 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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