Melbourne
A 30.7% vacancy rate sits alongside 71.8% renting and 99.7% apartment living, making Melbourne a highly transient inner-city market rather than a conventional family suburb. The population is 54,941 and the median age is 29, which is 11 years below the national figure. Overseas-born residents account for 70.6%, or 49 percentage points above the national share. Nearby Southbank and Carlton share the central-city setting, but Melbourne's 42.8% working-from-home rate and 62.3% university-educated population point to a particularly student and professional mix.
Population
54,941
Median Age
29.0
Household IncomeiMedian weekly household income (ABS Census)
$1,448/wk
DAs (12 months)iDevelopment Applications lodged in the past year
1,064
Melbourne suits buyers prioritising a central apartment lifestyle, but each building needs close checking because separate houses account for only 0.1% of dwellings and apartments represent 99.7%. Smaller formats dominate: 36.1% of homes are studios or one-bedroom dwellings, 53.9% have 2 bedrooms and only 9.5% have 3 bedrooms. A monthly mortgage figure of $1,800 sits alongside a mortgage-to-income measure of 28.7%, higher than the 26.3% rent-to-income measure. Ownership is much lower than renting, with 12.8% owned outright and 13.3% mortgaged versus 71.8% rented. A suburb-wide median house price is not available, so apartment-level sales, owners corporation costs and building conditions matter more than a single benchmark.
For Buyers
Melbourne suits buyers prioritising a central apartment lifestyle, but each building needs close checking because separate houses account for only 0.1% of dwellings and apartments represent 99.7%. Smaller formats dominate: 36.1% of homes are studios or one-bedroom dwellings, 53.9% have 2 bedrooms and only 9.5% have 3 bedrooms. A monthly mortgage figure of $1,800 sits alongside a mortgage-to-income measure of 28.7%, higher than the 26.3% rent-to-income measure. Ownership is much lower than renting, with 12.8% owned outright and 13.3% mortgaged versus 71.8% rented. A suburb-wide median house price is not available, so apartment-level sales, owners corporation costs and building conditions matter more than a single benchmark.
For Investors
Melbourne provides a large tenant pool because 71.8% of households rent, but the 30.7% vacancy rate creates meaningful leasing risk and gives renters more choice between apartments. Weekly rent is $381, while rent growth of 13.8% is above zero and may support income growth if occupancy is maintained. The 6.0% annual growth trend, driven by internal migration, supports longer-term demand, although high turnover can increase management costs. Development activity is also substantial, with 1,111 applications in 12 months. That level is far above a quiet suburban market and may add supply, construction disruption and competition between similar apartments.
Development Activity
Total DAs
2,077
Last 12 Months
1,064
YoY ChangeiYear-over-year change in DA lodgements
+6.0%
Avg DA CostiAverage estimated cost per DA in the past year
$10.2M
Monthly DA Lodgements
DA Categories
Schools in Melbourne
Open-register school locations for education access. This is not a school-quality ranking.
Melbourne Grammar School
Wesley College
Holmes Grammar School
MacRobertson Girls High School
Ozford College
Demographics
Melbourne has a younger and more internationally connected population than the national profile. The median age is 29, or 11 years below national age, while 62.3% of residents hold university qualifications, 32.2 percentage points above the national share. Overseas-born residents make up 70.6%, which is 49 points above national, with Chinese ancestry recorded for 16,763 people and Indian ancestry for 3,653. Mandarin is spoken by 4,855 residents, while 25,022 report no religion and 12,329 identify with Christianity. Average household size is 1.7, or 0.8 below national, because compact apartments, students and early-career residents support a smaller-household pattern. A 63.2% turnover rate is also higher than a settled family suburb would typically experience.
Age Distribution
Bedrooms
Dwelling Structure
0.1%
Houses
0.2%
Townhouse
99.7%
Apartment
Tenure
Melbourne's housing stock is overwhelmingly vertical, with 99.7% of dwellings classified as apartments and just 0.1% as separate houses. The largest bedroom group is 2-bedroom homes at 53.9%, followed by studios and one-bedroom dwellings at 36.1%; 3-bedroom homes account for 9.5% and 4-bedroom-plus homes only 0.5%. Owner occupation is much lower than renting: 12.8% own outright and 13.3% have a mortgage, compared with 71.8% renting. The 30.7% vacancy rate can create more choice for tenants, but it may also produce sharper differences between buildings and streets. Average household size is 1.7, below the national figure by 0.8, reinforcing demand for smaller apartment layouts rather than detached family housing.
Mortgage / mo
$1,800
Rent / wkiABS Census 2021 median across all dwelling types. Current market rents are typically higher.
$381
Census 2021
HH Size
1.7
Personal Income / wk
$864
Vacancy Ratei% of dwellings unoccupied on Census night (ABS 2021)
30.7%
Unoccupied
12,174
Rent / IncomeiMedian rent as % of household income. Over 30% = housing stress
26.3%
Mortgage / IncomeiMedian mortgage as % of household income. Over 30% = housing stress
28.7%
Community Profile
Languages Spoken at Home
Ancestry
Household Composition
15.2%
Couples with children
68.4%
Couples, no children
8.3%
Single parent
10,367
Total families
Economy & Employment
Melbourne's employment base spans Professional/Tech at 19.7%, Hospitality at 15.5%, Healthcare at 10.7%, Education at 8.2% and Retail at 7.7%. Professionals number 11,597 and managers 3,916, supporting demand for central housing and services. Participation is 68.3%, unemployment is 8.6% and the full-time rate is 54.7%, with part-time work and study likely contributing to a less conventional workforce mix than in outer family suburbs. SEIFA results show a marked split: education and occupation reach decile 10, IRSD is also decile 10 and IRSAD is decile 10, while the economic resources decile is only 4. Household income sits at the 43.9 percentile, below the midpoint. This contrast reflects highly educated professionals alongside students, renters and lower-paid hospitality workers.
Unemployment
8.6%
Labour Force
35,977
Unemployed
3,100
Source: ABS Census 2021
Socio-Economic Indexes (SEIFA)iABS index ranking suburbs from 1 (most disadvantaged) to 10 (most advantaged)
Full-time
54.7%
Part-time
38.1%
Participation
68.3%
Employed
32,877
Full-time and part-time are shares of the employed. Source: ABS Census 2021
Occupations
Top Industries
University
62.3%
Postgraduate
22.0%
Born Overseas
70.6%
Dwellings
27,332
Transport to Work
Melbourne supports a car-light lifestyle because 22.9% use public transport and 20.0% walk or cycle, compared with only 12.9% who drive a car to work. Working from home is also high at 42.8%, which can make apartment location and access to local services more important than a large home. There are 7 nearby school options across 2 government and 5 independent providers, covering secondary, primary/secondary and special settings; enrolment zones should be checked against the exact address. Safety requires active due diligence: the recorded crime rate is 416.0 per 1,000 residents, with 22,857 offences and 13,382 property and deception offences. That rate is above what many residential suburbs experience. Against this, an IRSAD decile of 10 indicates very strong relative advantage, creating a clear contrast between amenity, resources and public-order pressures.
Drive
12.9%
Public Transport
22.9%
Walk / Cycle
20.0%
Work from Home
42.8%
Population Forecast
+6.0%/yr
(+189 people/yr)
High GrowthMelbourne is classified as a high-growth area, with an annual trend of 6.0% and Internal migration identified as the primary driver. Population change across the wider area reaches 1,995.6% over 10 years, placing the trajectory well above zero even though the shift is labelled Mixed rather than consistently directional. Rent growth is 13.8%, while the affordability measures are 50.9 for 2011 and 43.5 for 2021 and the overall affordability trend is labelled Improving. Gentrification has a score of 0 and a stage of Not gentrifying, so the current expansion appears more connected to central-city demand, redevelopment and population movement than to a conventional uplift cycle. The 30.7% vacancy rate and 1,111 development applications add supply-side uncertainty.
Historical + Forecast
Hamilton-Perry + Holt smoothing on ERP 2001-2025
Age Cohort Forecast
Primary Driver
Internal Migration
Net Overseas / yr
+42
Net Internal / yr
+238
Safety & Crime
Total Offences
22,857
Year ending June 2024
Rate per 1,000 People
416.0
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 Melbourne compares to ~15,000 Australian suburbs
Frequently Asked Questions
Is Melbourne a good suburb to live in?
Melbourne suits people who value a car-light, central lifestyle: 22.9% use public transport and 20.0% walk or cycle, while 99.7% of homes are apartments. The trade-off is a 416.0 per 1,000 crime rate and a 30.7% vacancy rate, so inspect the immediate building and street before renting or buying.
What is the median house price in Melbourne?
A median house price is not available for Melbourne, where only 0.1% of dwellings are separate houses and 99.7% are apartments. For a current buying guide, compare individual apartment sales with the $381 weekly rent, the $1,800 monthly mortgage figure and each building's owners corporation costs.
What schools are in Melbourne?
There are 7 nearby school options across government and independent sectors, including secondary, primary/secondary and special settings. Examples include MacRobertson Girls High School, Melbourne Grammar School and Wesley College. Check the exact address because enrolment zones can differ across central-city boundaries.
Is Melbourne safe?
Melbourne recorded 22,857 offences, or 416.0 per 1,000 residents. Property and deception offences accounted for 13,382, well above the 3,475 crimes against the person. Conditions vary by block and time, so inspect lighting, building access and late-night activity before choosing a home.
Is Melbourne good for property investment?
Melbourne can suit investors targeting renters: 71.8% of residents rent, weekly rent is $381 and vacancy is 30.7%. Demand is supported by a 6.0% annual growth trend and internal migration, but 1,111 development applications indicate substantial supply and ongoing competition between apartments.
How is Melbourne's population changing?
Melbourne's current population is 54,941, with a median age of 29. The wider area's forecast trend is 6.0% annually, driven by internal migration, while 10-year population change is 1,995.6%. A 63.2% turnover rate also points to a highly mobile population rather than long-term residential stability.
What languages are spoken in Melbourne?
Melbourne has a migrant-majority population: 70.6% were born overseas, 49 percentage points above the national figure. Mandarin is the most common listed language with 4,855 speakers, followed by Canton at 972 and Hindi at 738. The language mix is consistent with a highly international inner-city population.
What development is occurring in Melbourne?
Development activity is unusually high, with 1,111 applications recorded over 12 months. Recent examples include external painting and mural works, so activity is not limited to new dwellings. Buyers and renters should check construction timing, building notices and nearby planning changes because central-city works can affect noise, access and outlook.
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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