Elwood
Apartments shape Elwood more than its beachside image: 72.2% of dwellings are apartments and 52.2% of households rent, while the suburb still carries a $1,790,000 median house price. In just 2.6 sq km it holds 15,153 people, with density of 5,838.6 residents per sq km. Compared with nearby Brighton's detached-home feel and St Kilda's busier strip, Elwood is smaller, premium and highly educated, with household income in the 79.3 percentile and university attainment 29.0 points above the national level.
Population
15,153
Median Age
38.0
Household IncomeiMedian weekly household income (ABS Census)
$2,096/wk
DAs (12 months)iDevelopment Applications lodged in the past year
26
Median House
$1.8M
Apr-Jun 2024
Buyers are paying for scarce land and location rather than house supply: separate houses are only 14.3% of dwellings, while apartments are 72.2% and 2 bedroom homes make up 49.9%. The median house price is $1,790,000, down 31.3% from the 2022 peak of $2,605,000, so the latest price sits below the cycle high but remains premium. Mortgage costs absorb 25.3% of income, which is lower than stress territory because household incomes sit in the 79.3 percentile.
For Buyers
Buyers are paying for scarce land and location rather than house supply: separate houses are only 14.3% of dwellings, while apartments are 72.2% and 2 bedroom homes make up 49.9%. The median house price is $1,790,000, down 31.3% from the 2022 peak of $2,605,000, so the latest price sits below the cycle high but remains premium. Mortgage costs absorb 25.3% of income, which is lower than stress territory because household incomes sit in the 79.3 percentile.
For Investors
Elwood has a deep tenant pool because 52.2% of households rent and 72.2% of dwellings are apartments, but vacancy at 15.9% is higher than many tighter inner suburbs. The median weekly rent is $415 and rents have grown 18.6% over the longer shift period, supporting income when stock is well positioned. With 14 development applications in 12 months, supply pressure looks moderate rather than heavy, so investors need to compare yield carefully against the $1,790,000 house median.
Development Activity
Total DAs
35
Last 12 Months
26
YoY ChangeiYear-over-year change in DA lodgements
+550.0%
Avg DA CostiAverage estimated cost per DA in the past year
N/A
Monthly DA Lodgements
DA Categories
Schools in Elwood iICSEA: school advantage index. 1000 = national avg, higher = more advantaged
St Columba's School
Prep-6 · 137 students
Elwood Primary School
Prep-6 · 618 students
Yesodei HaTorah College
Prep-12 · 149 students
Elwood College
7-12 · 804 students
Demographics
Elwood's population of 15,153 is highly educated and compact. The median age is 38, which is 2.0 years below the national benchmark, while 59.1% hold a university qualification, 29.0 percentage points above national. Overseas-born residents are 28.3%, 6.7 points above national, but households are smaller at 1.9 people, 0.6 lower than national. English ancestry leads at 5,560 people, followed by Irish at 2,403 and Scottish at 1,927, reflecting an inner-south professional renter profile.
Age Distribution
Bedrooms
Dwelling Structure
14.3%
Houses
13.6%
Townhouse
72.2%
Apartment
Tenure
Housing is unusually apartment-led for a premium bayside suburb. The median house price rose from $1,350,000 in 2013 to $1,790,000 in Apr-Jun 2024, a 32.6% gain and 2.0% CAGR over 14 years, but it remains 31.3% below the 2022 peak of $2,605,000. Compared with Brighton, Elwood has far less detached stock because separate houses are 14.3%, semi-detached homes 13.6% and apartments 72.2%. Tenure is mobile, with 21.2% owned outright, 26.6% mortgaged and 52.2% renting.
Median House Price Trend
Source: State Valuer-General
Mortgage / mo
$2,300
Rent / wk
$415
HH Size
1.9
Personal Income / wk
$1,364
Vacancy Ratei% of dwellings unoccupied on Census night (ABS 2021)
15.9%
Unoccupied
1,368
Rent / IncomeiMedian rent as % of household income. Over 30% = housing stress
19.8%
Mortgage / IncomeiMedian mortgage as % of household income. Over 30% = housing stress
25.3%
Community Profile
Languages Spoken at Home
Ancestry
Household Composition
36.7%
Couples, no children
9,345
Total families
Economy & Employment
Elwood's economy leans strongly white-collar. Professional and tech roles account for 17.4% of workers, followed by healthcare at 15.1%, education at 11.6%, construction at 7.3% and retail at 6.4%. Occupations reinforce this, with 3,693 professionals and 1,905 managers. Employment is solid, with 70.5% participation, 69.2% full-time among workers and 4.4% unemployment. The suburb ranks in decile 10 for IEO and IRSAD, but IER is only decile 4, likely because the renter-heavy, smaller-household base lowers household resources compared with its education profile.
Unemployment
4.1%
Labour Force
11,706
Unemployed
482
Quarterly Trend
Source: SALM Dec-25
Socio-Economic Indexes (SEIFA)iABS index ranking suburbs from 1 (most disadvantaged) to 10 (most advantaged)
Full-time
69.2%
Part-time
26.4%
Participation
70.5%
Employed
8,872
Occupations
Top Industries
University
59.1%
Postgraduate
17.2%
Born Overseas
28.3%
Dwellings
7,261
Transport to Work
Elwood's livability is strongest for beach access, walkable local trips and school choice, but car use remains high. Walked or cycled commuting is 12.2%, public transport is 6.5% and car driving is 78.0%, so daily convenience depends on local routines rather than rail-style commuting. There are 4 schools with ICSEA scores from 1096 to 1152, led by St Columba's School at 1152, Elwood Primary at 1131 and Yesodei HaTorah College at 1112 across Catholic, Government and Independent sectors. Crime is 55.6 per 1,000, while IRSAD decile 10 sits above the state average for advantage.
Drive
78.0%
Public Transport
6.5%
Walk / Cycle
12.2%
Work from Home
N/A
Population Forecast
+0.2%/yr
(+32 people/yr)
EstablishedElwood is a slow-growth established suburb. The trend forecast is only 0.2% a year, or 32 people annually, with the medium scenario moving from 15,906 in 2026 to 16,068 in 2031. Overseas migration is the primary driver, adding an average 394 people a year, while internal migration is negative at -257 a year, so arrivals offset local outflow. The gentrification score is 20 and stage is Early signs, while the shift profile shows aging with seniors up 3.9 points and working-age share down 3.9 points compared with the prior mix.
Historical + Forecast
Hamilton-Perry + Holt smoothing on ERP 2001-2025
Age Cohort Forecast
Primary Driver
Overseas Migration
Net Overseas / yr
+394
Net Internal / yr
-257
Gentrification Signal
Early signs
Net internal outflow -257/yr, Strong overseas inflow +394/yr, COVID recovered (-7% dip → full recovery)
Safety & Crime
Total Offences
843
Year ending June 2024
Rate per 1,000 People
55.6
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 Elwood compares to ~15,000 Australian suburbs
Frequently Asked Questions
Is Elwood a good suburb to live in?
Yes for buyers or renters wanting a premium, dense bayside suburb with 72.2% apartments, 12.2% walking or cycling commutes and IRSAD decile 10 advantage. It suits smaller households, with average household size 1.9, lower than the national benchmark.
What is the median house price in Elwood?
The median house price in Elwood is $1,790,000 for Apr-Jun 2024. That is 31.3% below the 2022 peak of $2,605,000, but still reflects scarce detached stock, with separate houses making up only 14.3% of dwellings.
What schools are in Elwood?
Elwood has 4 local schools across Government, Catholic and Independent sectors. ICSEA scores range from 1096 to 1152, with St Columba's School at 1152, Elwood Primary School at 1131 and Elwood College enrolling 804 students.
Is Elwood safe?
Elwood recorded 843 offences, equal to 55.6 crimes per 1,000 residents. Property and deception offences were the largest category at 612, so risk is more concentrated in property crime than personal crime, which recorded 102 offences.
Is Elwood good for property investment?
Elwood has investor appeal because 52.2% of households rent and rent growth has been 18.6%, but the 15.9% vacancy rate is higher than a tight rental market. The $415 median weekly rent needs to be weighed against the $1,790,000 house median.
How is Elwood's population changing?
Elwood is growing slowly, with a forecast trend of 0.2% a year, or 32 people annually. Overseas migration adds an average 394 people a year, while internal migration averages -257, so growth is below fast-expanding outer suburbs.
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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