Keilor Park
Half of Keilor Park's 2,684 residents own their homes outright, a figure that tells you more about this suburb than any headline statistic. At a median age of 44, four years above the national figure, this is a suburb of established households in a predominantly detached-house market where 88.4% of dwellings are separate houses. The $851,000 median house price sits at the 45th income percentile nationally, meaning affordability is moderate rather than stretched. Italian ancestry is the strongest cultural thread, with 852 residents identifying Italian heritage. Population is edging down at 0.22% annually because internal migration runs negative at 28 departures per year, though overseas arrivals of 48 per year partially offset the loss.
Population
2,684
Median Age
44.0
Household IncomeiMedian weekly household income (ABS Census)
$1,468/wk
DAs (12 months)iDevelopment Applications lodged in the past year
4
Median House
$851K
Apr-Jun 2024
The $851,000 median house price (Apr-Jun 2024) represents an 87% rise from $455,000 in 2013, a compound growth rate of 4.6% annually over 14 years. The price is below the Melbourne inner-suburb premium and the mortgage-to-income ratio sits at 28.3%, below the 30% stress threshold, making purchases here more serviceable than in many comparable suburbs. Stock is overwhelmingly separate houses at 88.4%, and bedroom mix tilts toward family homes: 61.7% are three-bedrooms and 32.1% have four or more bedrooms. The 50.4% outright ownership rate signals a long-established holder base that rarely lists, which helps explain why only 17.1% of dwellings are rented compared to broader metropolitan norms. Buyers are competing for limited churn in a mature, stable market.
For Buyers
The $851,000 median house price (Apr-Jun 2024) represents an 87% rise from $455,000 in 2013, a compound growth rate of 4.6% annually over 14 years. The price is below the Melbourne inner-suburb premium and the mortgage-to-income ratio sits at 28.3%, below the 30% stress threshold, making purchases here more serviceable than in many comparable suburbs. Stock is overwhelmingly separate houses at 88.4%, and bedroom mix tilts toward family homes: 61.7% are three-bedrooms and 32.1% have four or more bedrooms. The 50.4% outright ownership rate signals a long-established holder base that rarely lists, which helps explain why only 17.1% of dwellings are rented compared to broader metropolitan norms. Buyers are competing for limited churn in a mature, stable market.
For Investors
With a 17.1% renter share and weekly rent of $392, Keilor Park is primarily an owner-occupier market, and that shapes the investment math. Against the $851,000 median, the $392 weekly rent implies a gross yield near 2.4%, modest but not unusual for established Melbourne suburbs. The vacancy rate of 4.8% is elevated, suggesting some softness in rental demand relative to supply. Overseas migration adds 48 residents per year, the only net positive population driver, as internal migration runs at negative 28 annually. Development activity is minimal at 3 applications in 12 months, so no new supply is compressing existing rental stock. Rent growth has been 27.7% over the past decade, outpacing real income growth of 6%, which has gradually widened the yield base for long-held investment properties.
Development Activity
Total DAs
9
Last 12 Months
4
YoY ChangeiYear-over-year change in DA lodgements
+300.0%
Avg DA CostiAverage estimated cost per DA in the past year
N/A
Monthly DA Lodgements
DA Categories
Demographics
The median age of 44 sits 4.0 years above the national figure, and the aging trend is accelerating: the senior share rose 6.2 points over the decade while the working-age share fell 4.2 points. Overseas-born residents at 31.0% run 9.4 percentage points above the national average, reflecting the suburb's Italian and Greek migrant heritage. Italian is the strongest ancestry at 852 residents, followed by English (537) and Greek (211). Italian is also the most spoken language at home beyond English, with 172 speakers, and Greek follows with 55. University qualifications sit at 26.7%, which is 3.4 points below national, consistent with a workforce concentrated in trades and service sectors. Average household size is 2.6, marginally above the national figure, reflecting the family-home orientation of the detached housing stock.
Age Distribution
Bedrooms
Dwelling Structure
88.4%
Houses
11.6%
Townhouse
N/A
Apartment
Tenure
Keilor Park has one of Melbourne's higher outright ownership rates at 50.4%, more than double the 17.1% renting share. That tenure split reflects decades of owner-occupation in a suburb where 88.4% of dwellings are separate houses, a proportion well above metropolitan averages. The three-bedroom house is the standard unit at 61.7% of stock, with 32.1% at four or more bedrooms. The $851,000 median in Apr-Jun 2024 is below the Jan-Mar 2024 peak of $905,000, a 6.0% correction from peak. Over the full 14-year span from 2013, prices have compounded at 4.6% annually, broadly in line with wages growth plus inflation rather than speculative uplift. Monthly mortgage repayments average $1,801 and the mortgage-to-income ratio of 28.3% stays below the 30% stress threshold, supporting sustainable demand.
Median House Price Trend
Source: State Valuer-General
Mortgage / mo
$1,801
Rent / wk
$392
HH Size
2.6
Personal Income / wk
$645
Vacancy Ratei% of dwellings unoccupied on Census night (ABS 2021)
4.8%
Unoccupied
52
Rent / IncomeiMedian rent as % of household income. Over 30% = housing stress
26.7%
Mortgage / IncomeiMedian mortgage as % of household income. Over 30% = housing stress
28.3%
Community Profile
Languages Spoken at Home
Ancestry
Household Composition
25.7%
Couples, no children
2,279
Total families
Economy & Employment
Construction is the dominant employer at 15.0% of the local workforce (109 workers), followed by Education at 12.5% (91) and Healthcare at 11.7% (85). This trades-and-services blend reflects the IEO decile 6 ranking, placing Keilor Park slightly below the national median on education and occupation advantage, in contrast to the IER decile 8 and IRSD decile 8 scores which indicate solid economic resources and low relative disadvantage. The unemployment rate is 5.9% against a labour participation rate of 51.5%, the latter pulled down by the older age profile, with 875 residents not in the labour force. Full-time employment among those working runs at 65.4%. Personal weekly income averages $645 and household income sits at the 45th percentile nationally, positioning Keilor Park as a working-to-middle-income suburb rather than a high-income enclave.
Unemployment
1.8%
Labour Force
4,728
Unemployed
84
Quarterly Trend
Source: SALM Dec-25
Socio-Economic Indexes (SEIFA)iABS index ranking suburbs from 1 (most disadvantaged) to 10 (most advantaged)
Full-time
65.4%
Part-time
28.7%
Participation
51.5%
Employed
1,068
Occupations
Top Industries
University
26.7%
Postgraduate
5.6%
Born Overseas
31.0%
Dwellings
1,022
Transport to Work
Car dependency is extreme: 89.0% of residents drive to work, compared to 63.4% nationally, and only 1.9% use public transport. This reflects the suburb's location and limited rail access, making a car a practical necessity for most households. On the safety side, the crime rate of 75.6 incidents per 1,000 residents is moderate; property and deception offences account for 134 of 203 total incidents, which is typical for an outer suburban area. The IRSD decile 8 and IRSAD decile 7 place Keilor Park among the more advantaged half of suburbs nationally with low relative disadvantage. No schools are recorded within the suburb boundary, so families rely on institutions in nearby Keilor East and Essendon North. The volunteering rate of 8.1% and housing stress below the 30% threshold on both mortgage and rent measures indicate a stable, settled community.
Drive
89.0%
Public Transport
1.9%
Walk / Cycle
2.4%
Work from Home
N/A
Population Forecast
-0.22%/yr
(-19 people/yr)
EstablishedKeilor Park is in gentle decline: the annual population trend is negative 0.22%, equating to about 19 fewer residents per year. The broader statistical area population peaked pre-COVID at 8,953, dipped 4.0% to 8,596, and has only recovered to 8,675, still 3.1% below the pre-COVID level. Medium forecasts project the population declining gradually to 8,528 by 2031 from 8,732 in 2025. The migration balance explains the dynamic: overseas arrivals of 48 per year cannot fully offset internal departures of 28, and natural change is limited given the aging profile. The gentrification score of 0 confirms the suburb is not gentrifying, with no signals of income or education uplift. The 10-year population change of 2.8% is slow by metropolitan standards, and the aging trajectory with senior share growth of 6.2 points makes organic demand recovery unlikely without a housing mix change.
Historical + Forecast
Hamilton-Perry + Holt smoothing on ERP 2001-2025
Age Cohort Forecast
Primary Driver
Overseas Migration
Net Overseas / yr
+48
Net Internal / yr
-28
Gentrification Signal
Not gentrifying
Safety & Crime
Total Offences
203
Year ending June 2024
Rate per 1,000 People
75.6
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 Keilor Park compares to ~15,000 Australian suburbs
Frequently Asked Questions
Is Keilor Park a good suburb to live in?
Keilor Park scores decile 8 on IRSD (low disadvantage) and decile 7 on IRSAD nationally, placing it in the more advantaged half of Australian suburbs. The 50.4% outright ownership rate and mortgage-to-income ratio of 28.3% (below the 30% stress threshold) signal financial stability. The trade-off is high car dependency at 89.0% and a declining population of 0.22% per year.
What is the median house price in Keilor Park?
The median house price is $851,000 as of Apr-Jun 2024, down from a peak of $905,000 in Jan-Mar 2024, a 6.0% correction. Since 2013, prices have grown 87% from $455,000, a compound annual growth rate of 4.6% over 14 years. Weekly rent averages $392 and monthly mortgage repayments run approximately $1,801.
What schools are in Keilor Park?
No schools are recorded within the Keilor Park boundary (postcode 3042) in this dataset. Families rely on schools in neighbouring suburbs such as Keilor East and Essendon North. University qualifications among residents sit at 26.7%, which is 3.4 percentage points below the national figure.
Is Keilor Park safe?
Keilor Park recorded 203 total incidents, a crime rate of 75.6 per 1,000 residents. The majority are property and deception offences (134 incidents), with crimes against the person at 29. The suburb scores decile 8 on IRSD, indicating low relative disadvantage, which is generally associated with lower crime risk compared to more disadvantaged areas.
Is Keilor Park good for property investment?
The investment case is modest. At $392 weekly rent against an $851,000 median, gross yield is approximately 2.4%. The vacancy rate of 4.8% is elevated, and only 17.1% of dwellings are rented in this owner-dominated suburb. On the upside, rent has grown 27.7% over the decade and overseas migration of 48 residents per year provides baseline demand.
How is Keilor Park's population changing?
Population is declining at 0.22% annually, about 19 fewer residents per year. The broader area population of 8,675 remains 3.1% below the pre-COVID level of 8,953. Overseas migration brings 48 arrivals annually, but internal migration runs at negative 28, and medium forecasts show population declining to 8,528 by 2031 from 8,732 in 2025.
What languages are spoken in Keilor Park?
About 31.0% of residents were born overseas, which is 9.4 percentage points above the national figure. Italian is the most common non-English language at home with 172 speakers, reflecting the strong Italian ancestry of 852 residents. Greek is the second language with 55 speakers, alongside smaller Cantonese and Arabic-speaking communities.
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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