Macedon
At $1,010,000, Macedon's median house price sits well above the national median, yet household income ranks at the 89.4th percentile nationally, creating one of regional Victoria's most pronounced wealth-to-property ratios. Only 9% of residents rent, because 44.8% own outright and 46.2% hold a mortgage, an ownership profile rarely seen outside established prestige areas. The suburb is also strikingly large at 38.97 km2 with just 2,073 residents, producing a density of 53 people per km2, which is low compared to most VIC suburbs and explains its rural-fringe character.
Population
2,073
Median Age
44.0
Household IncomeiMedian weekly household income (ABS Census)
$2,353/wk
DAs (12 months)iDevelopment Applications lodged in the past year
0
Median House
$1.0M
Apr-Jun 2024
The $1,010,000 median house price as of Apr-Jun 2024 reflects a market that peaked at $1,292,500 in Apr-Jun 2023, now sitting 21.9% below that peak. Buyers who missed the top can access the same stock at a discount, though prices have more than doubled from $490,000 in 2013, a compound annual growth rate of 5.3% over 14 years. The stock is almost exclusively separate houses at 96.5%, with four-plus bedroom homes accounting for 50.7% of dwellings. Monthly mortgage repayments average $2,213, giving a mortgage-to-income ratio of 21.7%, which is below the 30% stress threshold despite a $1M entry point, because household incomes rank in the 89th percentile nationally.
For Buyers
The $1,010,000 median house price as of Apr-Jun 2024 reflects a market that peaked at $1,292,500 in Apr-Jun 2023, now sitting 21.9% below that peak. Buyers who missed the top can access the same stock at a discount, though prices have more than doubled from $490,000 in 2013, a compound annual growth rate of 5.3% over 14 years. The stock is almost exclusively separate houses at 96.5%, with four-plus bedroom homes accounting for 50.7% of dwellings. Monthly mortgage repayments average $2,213, giving a mortgage-to-income ratio of 21.7%, which is below the 30% stress threshold despite a $1M entry point, because household incomes rank in the 89th percentile nationally.
For Investors
The investment case for Macedon is narrow. Only 9% of residents rent, well below the national average, and the vacancy rate of 8.0% is elevated, signalling limited rental demand relative to stock. Weekly rent of $371 against a $1,010,000 median implies a gross yield below 2%. Net overseas migration adds 14 residents a year while internal migration removes 8, producing thin balanced growth. No development applications were lodged in the past 12 months, consistent with a slow-growth, low-turnover area. Investors seeking yield will find better returns elsewhere; the case for Macedon rests entirely on long-run capital appreciation, supported by the 5.3% CAGR over 14 years.
Schools in Macedon iICSEA: school advantage index. 1000 = national avg, higher = more advantaged
Alice Miller School
Prep-12 · 399 students
Macedon Primary School
Prep-6 · 232 students
Demographics
The median age of 44 is 4.0 years above the national figure, and the suburb is on an aging trajectory: the senior share rose 6.7 points while the working-age share fell 6.0 points over the decade. Overseas-born residents at 14.0% are 7.6 points below the national figure, consistent with the strongly Anglo-Celtic ancestry mix of English (842), Irish (303) and Scottish (273). University qualifications reach 42.5%, which is 12.4 points above the national average, reflecting a professional household base. Average household size of 2.8 is 0.3 above the national figure. Volunteering runs at 24.4%, unusually high, pointing to a settled, community-oriented population.
Age Distribution
Bedrooms
Dwelling Structure
96.5%
Houses
0.7%
Townhouse
N/A
Apartment
Tenure
Tenure is almost entirely owner-occupied: 44.8% own outright and 46.2% hold a mortgage, leaving renters at just 9.0%, far below the national average. Outright owners nearly matching mortgage holders signals long-held wealth rather than a market of recent buyers. The stock is 96.5% separate houses, with only 0.7% semi-detached and effectively no apartments. Four-plus bedroom homes make up 50.7% of dwellings and three-bedroom homes 39.4%, an unusually large stock profile that suits families on large rural blocks. Prices have risen 106.1% from $490,000 in 2013 to $1,010,000 in Apr-Jun 2024, though the market remains 21.9% below the Apr-Jun 2023 peak of $1,292,500.
Median House Price Trend
Source: State Valuer-General
Mortgage / mo
$2,213
Rent / wk
$371
HH Size
2.8
Personal Income / wk
$939
Vacancy Ratei% of dwellings unoccupied on Census night (ABS 2021)
8.0%
Unoccupied
60
Rent / IncomeiMedian rent as % of household income. Over 30% = housing stress
15.8%
Mortgage / IncomeiMedian mortgage as % of household income. Over 30% = housing stress
21.7%
Community Profile
Ancestry
Household Composition
26.2%
Couples, no children
1,757
Total families
Economy & Employment
Education leads local industries at 16.1% of employed residents (120 workers), followed by Professional/Tech at 14.5% (108) and Healthcare at 13.2% (98), with Construction at 12.2% and Public Admin at 7.4%. By occupation, Professionals (330) and Managers (186) make up the majority, consistent with a SEIFA IEO decile of 9 for education and occupation advantage. The unemployment rate is very low at 2.8%, against a participation rate of 58.8%, because a large share of residents are not in the labour force at all, likely reflecting the older median age of 44. Real incomes grew 19.9% over the decade. The IRSD decile of 10 means Macedon ranks among the least disadvantaged suburbs nationally.
Unemployment
1.2%
Labour Force
2,053
Unemployed
25
Quarterly Trend
Source: SALM Dec-25
Socio-Economic Indexes (SEIFA)iABS index ranking suburbs from 1 (most disadvantaged) to 10 (most advantaged)
Full-time
59.0%
Part-time
38.2%
Participation
58.8%
Employed
923
Occupations
Top Industries
University
42.5%
Postgraduate
12.5%
Born Overseas
14.0%
Dwellings
695
Transport to Work
Car dependency is high at 88.7% driving to work, compared to national averages, because Macedon's low density of 53 people per km2 makes public transport impractical; only 2.8% use it. The crime rate of 39.6 incidents per 1,000 residents is relatively modest, with property offences (50 incidents) the dominant category. The suburb ranks at IRSAD decile 9 and IRSD decile 10, placing it among the least disadvantaged communities nationally. Only 3.6% of residents need daily assistance, low relative to the older median age of 44. The housing stress indicators are comfortable: rent-to-income at 15.8% and mortgage-to-income at 21.7% both sit below the conventional 30% stress threshold.
Drive
88.7%
Public Transport
2.8%
Walk / Cycle
3.0%
Work from Home
N/A
Population Forecast
+0.3%/yr
(+11 people/yr)
EstablishedPopulation growth is slow at 0.3% annually, adding about 11 residents per year. Over 10 years the population rose 10.6%, and medium forecasts project the area reaching 3,672 by 2031, a modest increment from the 2025 estimate of 3,615. Migration is balanced: overseas arrivals net 14 a year while internal outflow runs at 8. The gentrification score of 39 reflects early signs of gentrification rather than an established trend. Affordability improved from 43.2% in 2011 to 36.4% in 2021 as real incomes grew 19.9%, yet rent grew 24.5% over the same period. The aging trajectory means growth is unlikely to accelerate without a significant change in the household composition mix.
Historical + Forecast
Hamilton-Perry + Holt smoothing on ERP 2001-2025
Age Cohort Forecast
Primary Driver
Balanced
Net Overseas / yr
+14
Net Internal / yr
-8
Gentrification Signal
Not gentrifying
Safety & Crime
Total Offences
82
Year ending June 2024
Rate per 1,000 People
39.6
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 Macedon compares to ~15,000 Australian suburbs
Frequently Asked Questions
Is Macedon a good suburb to live in?
Macedon ranks at IRSD decile 10 and IRSAD decile 9, among the least disadvantaged suburbs nationally. Household incomes sit at the 89.4th percentile and university qualifications reach 42.5%, some 12.4 points above the national average. The trade-off is a $1,010,000 median house price and limited public transport, with 88.7% of residents relying on cars.
What is the median house price in Macedon?
The median house price is $1,010,000 as of Apr-Jun 2024, down 21.9% from the Apr-Jun 2023 peak of $1,292,500. Prices have grown 106.1% from $490,000 in 2013 at a compound annual rate of 5.3% over 14 years. Monthly mortgage repayments average $2,213.
What schools are in Macedon?
No schools are recorded inside the Macedon boundary in this dataset. Families in the area typically access schools in surrounding Macedon Ranges townships. Despite the absence of local schools, 42.5% of residents hold university qualifications, which is 12.4 points above the national figure.
Is Macedon safe?
Macedon recorded 82 total crimes in the reference period, at a rate of 39.6 per 1,000 residents. Property and deception offences account for 50 of those incidents, with drug offences (11) and crimes against the person (10) much lower. The IRSD decile 10 ranking nationally indicates very low relative disadvantage, a factor generally correlated with lower crime.
Is Macedon good for property investment?
The investment fundamentals are modest. Only 9% of residents rent and the vacancy rate of 8.0% is elevated, while weekly rent of $371 against a $1,010,000 median implies a gross yield below 2%. Annual population growth is 0.3%, with net migration near balanced. The 5.3% CAGR over 14 years supports a capital growth argument, but yield-focused investors will find better options elsewhere.
How is Macedon's population changing?
Growth is slow at 0.3% annually, adding around 11 residents per year. The 10-year population rise was 10.6%, and medium forecasts project 3,672 residents by 2031. The profile is aging, with the senior share up 6.7 points and the working-age share down 6.0 points over the decade, which constrains future growth momentum.
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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