Elizabeth Bay
A density of 19,442 people per sq km makes Elizabeth Bay one of Sydney's most compact residential settings: 4,878 residents occupy just 0.25 sq km. The housing profile is unusually apartment-led, with 99.2% of dwellings in apartments, while 59.3% of residents rent and 67.0% work from home. Median age is 43, 3 years above the national figure, and household income sits at the 80th percentile. Compared with nearby Potts Point, the suburb suits buyers and renters seeking an inner-city apartment base, but its 20.9% vacancy rate and very small 1.5-person households point to a more transient, individualised market.
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
51
For homebuyers, Elizabeth Bay is primarily an apartment decision rather than a detached-house search. Apartments account for 99.2% of dwellings and 57.7% are studio or one-bedroom homes, so compact living, strata rules and storage deserve more attention than land size. Two-bedroom stock represents 31.9%, while separate houses are only 0.3%. Weekly household income is $2,116 and the mortgage-to-income ratio is 28.2%, suggesting purchasing capacity, although 59.3% renting indicates strong competition for well-presented units. Compared with lower-density parts of Sydney, buyers should weigh outlook, levies, sinking-fund plans and noise exposure carefully.
For Buyers
For homebuyers, Elizabeth Bay is primarily an apartment decision rather than a detached-house search. Apartments account for 99.2% of dwellings and 57.7% are studio or one-bedroom homes, so compact living, strata rules and storage deserve more attention than land size. Two-bedroom stock represents 31.9%, while separate houses are only 0.3%. Weekly household income is $2,116 and the mortgage-to-income ratio is 28.2%, suggesting purchasing capacity, although 59.3% renting indicates strong competition for well-presented units. Compared with lower-density parts of Sydney, buyers should weigh outlook, levies, sinking-fund plans and noise exposure carefully.
For Investors
Investors benefit from a large tenant pool, with 59.3% of households renting and weekly rent at $500. That demand is balanced by a 20.9% vacancy rate, materially higher than in a tightly supplied market, so leasing speed and incentive risk matter alongside headline rent. Apartment concentration at 99.2% keeps the market focused on strata units, while 52 development applications in 12 months point to continuing building and renovation activity. Forecast growth of 0.79% annually, driven by overseas migration, supports a measured demand outlook. Compared with lower-vacancy locations, Elizabeth Bay requires careful property selection and realistic cash-flow assumptions.
Development Activity
Total DAs
227
Last 12 Months
51
YoY ChangeiYear-over-year change in DA lodgements
+34.2%
Avg DA CostiAverage estimated cost per DA in the past year
N/A
Monthly DA Lodgements
DA Categories
Demographics
Elizabeth Bay has a median age of 43, which is 3 years above the national figure, while 64.7% of residents hold university qualifications, 34.6 percentage points above national levels. Overseas-born residents account for 36.7%, or 15.1 points above the national share. Average household size is only 1.5 people, 1.0 below the national figure, reflecting the suburb's compact apartments and inner-city lifestyle. English ancestry counts 1,831 people, followed by Irish at 793 and Scottish at 639. No religion is recorded for 2,593 residents compared with 1,516 identifying with Christianity. Compared with a typical suburban profile, turnover is also high at 36.4%, reinforcing a mobile professional population.
Age Distribution
Bedrooms
Dwelling Structure
0.3%
Houses
0.5%
Townhouse
99.2%
Apartment
Tenure
Elizabeth Bay's housing market needs to be read through apartments rather than detached homes. Apartments comprise 99.2% of dwellings, while separate houses represent 0.3% and semi-detached homes 0.5%. Studio and one-bedroom homes account for 57.7% of stock, with two-bedroom dwellings at 31.9%, making space, storage and strata quality central purchase considerations. Tenure is renter-majority at 59.3%, compared with 22.2% owned outright and 16.5% under mortgage. Weekly rent is $500, vacancy is 20.9%, and rent-to-income and mortgage-to-income ratios are 23.6% and 28.2%. Compared with lower-density suburbs, this mix creates greater exposure to strata costs, building condition and rental-market swings.
Mortgage / mo
$2,582
Rent / wkiMedian weekly rent for new bonds (April to June 2026), NSW Rental Bond Board (DCJ). Census 2021 median: $500.
$730
Bond data Jun 2026 · houses $950 · units $730
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
14.8%
Couples with children
77.8%
Couples, no children
6.5%
Single parent
966
Total families
Economy & Employment
Professional and office-based work shapes Elizabeth Bay's economy. Professional and Tech industries employ 643 people, or 24.8%, followed by Finance at 289 or 11.2%, Healthcare at 268 or 10.4%, Education at 196 or 7.6%, and Public Administration at 176 or 6.8%. Professionals number 1,450 and Managers 707, supporting the suburb's household income at the 80th percentile. The labour force totals 3,262, participation is 69.6%, unemployment is 4.7%, and full-time employment is 70.3%. Compared with national conditions, income is high, yet IRSAD, IEO and IER each sit in decile 1. That contrast points to uneven conditions, with affluent professionals alongside dense rental housing and very small households.
Unemployment
4.7%
Labour Force
3,262
Unemployed
152
Source: ABS Census 2021
Socio-Economic Indexes (SEIFA)iABS index ranking suburbs from 1 (most disadvantaged) to 10 (most advantaged)
Full-time
70.3%
Part-time
22.9%
Participation
69.6%
Employed
3,110
Full-time and part-time are shares of the employed. Source: ABS Census 2021
Occupations
Top Industries
University
64.7%
Postgraduate
21.6%
Born Overseas
36.7%
Dwellings
2,869
Transport to Work
Daily life is suited to residents who value compact inner-city routines and flexible work. A substantial 67.0% work from home, while 13.4% drive a car and 12.3% walk or cycle, a pattern that is more active and less car-reliant than many outer suburbs. Public transport accounts for 6.3% of travel. At 19,442 people per sq km, building management, lift access, noise and shared facilities can have more effect on day-to-day comfort than lot size. School planning should be address-specific, with catchments, travel times and sector choices checked before signing a lease or contract. For safety, inspect the exact block at different times and compare lighting, entry security and foot traffic between buildings. IRSAD sits in decile 1, so convenience does not remove the need to assess local conditions carefully.
Drive
13.4%
Public Transport
6.3%
Walk / Cycle
12.3%
Work from Home
67.0%
Population Forecast
+0.79%/yr
(+91 people/yr)
EstablishedElizabeth Bay's wider-area outlook is established but not static. Forecast trend growth is 0.79% annually and population change across the wider area is 9.6% over 10 years, with overseas migration the primary driver. The gentrification score is 30 at the Early signs stage, while the shift trajectory is Mixed. Rents grew by 39.8%, affordability moved from 44.4 in 2011 to 48.9 in 2021 and the affordability trend is Worsening, so incoming demand is meeting stronger cost pressure. Compared with a rapid-growth corridor, this is a measured trajectory, but 52 development applications in 12 months show ongoing investment in existing buildings and residential stock.
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?
Elizabeth Bay can suit residents who value apartment living, central access and working from home. Apartments make up 99.2% of dwellings and 67.0% work from home, while 59.3% rent. Compared with lower-density suburbs, space and building quality matter more, so inspect storage, strata facilities, noise and security before committing.
What is the median house price in Elizabeth Bay?
A detached-house median is less useful in Elizabeth Bay because 99.2% of dwellings are apartments and only 0.3% are separate houses. Compare recent apartment sales by bedroom count, building condition and outlook, rather than relying on a blended figure that is less representative than an apartment-specific benchmark.
What schools are in Elizabeth Bay?
School choices should be checked against the exact Elizabeth Bay address and current enrolment zones. The suburb is 99.2% apartment-based and only 0.3% separate-house based, so families should compare catchment boundaries, travel times and sector options carefully. These checks are more useful than assuming access is the same as in nearby suburbs.
Is Elizabeth Bay safe?
Assess safety at the building and street level rather than assuming every block is the same. Elizabeth Bay has a density of 19,442 people per sq km and 59.3% of households rent, so entry controls, lighting, visitor access and building management deserve attention. Compare the exact block during daytime and evening inspections before deciding.
Is Elizabeth Bay good for property investment?
Elizabeth Bay can suit investors targeting apartment tenants, with weekly rent of $500 and 59.3% of households renting. The 20.9% vacancy rate is higher than in a tightly supplied market, while 52 development applications may increase competition between buildings. Forecast growth is 0.79% annually, so property selection and cash flow matter more than assuming rapid capital growth.
How is Elizabeth Bay's population changing?
Growth across the wider area is forecast at 0.79% annually, with 9.6% population change over 10 years and overseas migration the primary driver. The trajectory is Mixed and the gentrification score is 30 at the Early signs stage. Compared with a rapid-growth corridor, change is measured, while affordability worsened from 44.4 in 2011 to 48.9 in 2021.
What languages are spoken in Elizabeth Bay?
Elizabeth Bay has an overseas-born share of 36.7%, which is 15.1 percentage points above the national figure. French is recorded for 38 residents, Portuguese for 28, Italian for 23, German for 21 and Mandarin for 20. Compared with a less internationally oriented suburb, these figures support checking communication preferences when choosing services or managing a tenancy.
What development is occurring in Elizabeth Bay?
There were 52 development applications in the latest 12-month period, including alterations to residential flat buildings, dwelling houses and shops. This is higher activity than a quiet established area and suggests ongoing renewal of existing stock rather than a simple land-release story. Investors and buyers should compare proposed works, construction timing and strata impacts before purchasing.
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 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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