Mont Albert
A $2,745,000 median house price sits alongside a 10.6% vacancy rate here, and the two are linked through a housing mix that is unusual for premium Melbourne. Separate houses make up 53.8% of dwellings while apartments are just 10.9%, so the small rental pool concentrates into a thin slice of stock and pushes vacancy above typical inner-east levels. Household income reaches the 88.6th percentile nationally and university qualifications hit 61.7%, which is 31.6 points above the national figure. The median age of 42 runs 2.0 years above national, and the population is aging, with the senior share up 5.8 points over the decade.
Population
4,948
Median Age
42.0
Household IncomeiMedian weekly household income (ABS Census)
$2,324/wk
DAs (12 months)iDevelopment Applications lodged in the past year
7
Median House
$2.7M
Apr-Jun 2024
The $2,745,000 median ranks among Melbourne's pricier markets, though the figure has softened 8.4% from the $2,996,700 peak in late 2023, giving buyers more room than the headline suggests. Over the longer run prices still rose 108.6% from $1,316,000 in 2013, a 5.4% compound annual rate. The stock favours families: 53.8% are separate houses and 32.6% have four or more bedrooms, well above the apartment share of 10.9%. Monthly mortgage repayments average $2,500, producing a mortgage-to-income ratio of 24.8%, comfortably below the 30% stress threshold because household incomes sit in the 88.6th percentile. Outright owners at 40.9% outnumber mortgage holders at 30.6%, a sign that much of the housing is held by established, debt-free owners rather than recent entrants.
For Buyers
The $2,745,000 median ranks among Melbourne's pricier markets, though the figure has softened 8.4% from the $2,996,700 peak in late 2023, giving buyers more room than the headline suggests. Over the longer run prices still rose 108.6% from $1,316,000 in 2013, a 5.4% compound annual rate. The stock favours families: 53.8% are separate houses and 32.6% have four or more bedrooms, well above the apartment share of 10.9%. Monthly mortgage repayments average $2,500, producing a mortgage-to-income ratio of 24.8%, comfortably below the 30% stress threshold because household incomes sit in the 88.6th percentile. Outright owners at 40.9% outnumber mortgage holders at 30.6%, a sign that much of the housing is held by established, debt-free owners rather than recent entrants.
For Investors
A 28.5% renter share and weekly rent of $451 give landlords a tenant base, but the case leans defensive. Against the $2,745,000 median, that rent implies a gross yield near 0.9%, very low even by inner-Melbourne standards, because purchase prices are far steeper than rents. The 10.6% vacancy rate signals soft demand in the small apartment segment, which is only 10.9% of dwellings. Demand support comes from overseas migration adding 208 residents a year, partly offset by net internal outflow of 83. Development is minimal at 7 applications in 12 months, mostly subdivisions rather than new dwellings, so supply stays scarce. With rent growth of 28.3% over the period against flat 0.42% annual population growth, the return depends on capital preservation more than yield.
Development Activity
Total DAs
10
Last 12 Months
7
YoY ChangeiYear-over-year change in DA lodgements
+250.0%
Avg DA CostiAverage estimated cost per DA in the past year
N/A
Monthly DA Lodgements
DA Categories
Schools in Mont Albert iICSEA: school advantage index. 1000 = national avg, higher = more advantaged
Mont Albert Primary School
Prep-6 · 605 students
Demographics
The median age of 42 is 2.0 years above the national figure, and the trajectory is aging: the senior share rose 5.8 points while the working-age share fell 1.6 points over the decade. Overseas-born residents reach 32.9%, which is 11.3 points above national. Ancestry leans Anglo-Celtic, led by English (1,587), with Chinese (999) the strong second, then Irish (603) and Scottish (569). The top non-English languages are Mandarin (254), Cantonese (68) and Greek (27), reflecting that East Asian inflow. University qualifications at 61.7% run 31.6 points above national, among the highest anywhere. Average household size is 2.5, level with national, consistent with a mix of couple families with children (1,476) and couples without children (1,119).
Age Distribution
Bedrooms
Dwelling Structure
53.8%
Houses
35.0%
Townhouse
10.9%
Apartment
Tenure
Tenure splits across three groups: 40.9% own outright, 30.6% carry a mortgage and 28.5% rent. Outright owners outnumbering mortgage holders points to long-held, debt-free wealth rather than churn of new buyers. The stock is 53.8% separate houses and 35.0% semi-detached, leaving apartments at only 10.9%, which keeps detached-house values elevated through scarcity. Four-plus bedroom homes make up 32.6% and two-bedroom dwellings 34.1%. The median house price reached $2,745,000 in Apr-Jun 2024, down 8.4% from the $2,996,700 peak but up 108.6% from $1,316,000 in 2013. Mortgage-to-income at 24.8% and rent-to-income at 19.4% both stay below the 30% stress line, a sign that high incomes in the 88.6th percentile absorb the steep prices.
Median House Price Trend
Source: State Valuer-General
Mortgage / mo
$2,500
Rent / wk
$451
HH Size
2.5
Personal Income / wk
$1,061
Vacancy Ratei% of dwellings unoccupied on Census night (ABS 2021)
10.6%
Unoccupied
225
Rent / IncomeiMedian rent as % of household income. Over 30% = housing stress
19.4%
Mortgage / IncomeiMedian mortgage as % of household income. Over 30% = housing stress
24.8%
Community Profile
Languages Spoken at Home
Ancestry
Household Composition
28.3%
Couples, no children
3,955
Total families
Economy & Employment
The workforce concentrates in knowledge and care sectors: Healthcare leads at 19.0% (392 workers), Professional/Tech follows at 17.8% (367) and Education at 12.9% (266), with Finance at 9.2% and Public Admin at 6.0%. By occupation, Professionals (1,104) and Managers (422) dominate, which aligns with university qualifications running 31.6 points above national. Unemployment is low at 4.8% and the full-time employment rate is 62.2%. Participation reads 61.2%, held down by the aging profile that leaves 1,349 residents not in the labour force. Real incomes grew 16.9% over the decade. Household income sits in the 88.6th percentile nationally, well above the median, consistent with the concentration of professional and managerial roles in the resident base.
Unemployment
3.1%
Labour Force
6,514
Unemployed
204
Quarterly Trend
Source: SALM Dec-25
Socio-Economic Indexes (SEIFA)iABS index ranking suburbs from 1 (most disadvantaged) to 10 (most advantaged)
Full-time
62.2%
Part-time
33.0%
Participation
61.2%
Employed
2,466
Occupations
Top Industries
University
61.7%
Postgraduate
20.7%
Born Overseas
32.9%
Dwellings
1,906
Transport to Work
Car reliance is high at 80.6%, above the national pattern, while public transport carries 8.4% and 5.0% walk or cycle, reflecting a low-density residential setting at 2,908 residents per km2. Crime runs at 60.0 offences per 1,000 residents, with 297 total incidents dominated by property and deception offences (211), so the safety picture is property-led rather than violent, as crimes against the person total only 40. Volunteering is healthy at 21.3% and only 4.0% of residents (189 people) need daily assistance despite the older median age of 42. No schools sit inside the 1.7 km2 boundary, so families rely on institutions in neighbouring suburbs, a practical trade-off for the compact footprint.
Drive
80.6%
Public Transport
8.4%
Walk / Cycle
5.0%
Work from Home
N/A
Population Forecast
+0.42%/yr
(+45 people/yr)
EstablishedMont Albert is effectively flat: annual population growth registers 0.42%, about 45 people a year, and the 10-year change is just 4.0%, classifying it as an established, slow-growth suburb. Medium forecasts lift the population from 10,776 in 2025 to 11,014 by 2031, modest expansion. Overseas migration of 208 a year is the primary driver, offset by net internal outflow of 83. The gentrification stage reads early signs with a score of 20, supported by strong overseas inflow and a full COVID recovery after a 4.6% dip. Affordability improved from 48.3% in 2011 to 43.1% in 2021, though it stays high relative to most markets given prices well above the national median.
Historical + Forecast
Hamilton-Perry + Holt smoothing on ERP 2001-2025
Age Cohort Forecast
Primary Driver
Overseas Migration
Net Overseas / yr
+208
Net Internal / yr
-83
Gentrification Signal
Early signs
Strong overseas inflow +208/yr, COVID recovered (-5% dip → full recovery)
Safety & Crime
Total Offences
297
Year ending June 2024
Rate per 1,000 People
60.0
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 Mont Albert compares to ~15,000 Australian suburbs
Frequently Asked Questions
Is Mont Albert a good suburb to live in?
Mont Albert pairs household income in the 88.6th percentile nationally with university qualifications at 61.7%, which is 31.6 points above national. It is family-oriented, with 53.8% separate houses. The main trade-offs are a high $2,745,000 median house price and a 10.6% vacancy rate in its small rental segment.
What is the median house price in Mont Albert?
The median house price is $2,745,000, recorded in Apr-Jun 2024. That is down 8.4% from the $2,996,700 peak in late 2023 but up 108.6% from $1,316,000 in 2013, a 5.4% compound annual rate. Weekly rent averages $451 and monthly mortgage repayments run about $2,500.
What schools are in Mont Albert?
No schools are recorded inside the 1.7 km2 Mont Albert boundary in this dataset, so families rely on schools in neighbouring suburbs. The local population is highly educated, with university qualifications at 61.7%, which is 31.6 points above the national figure.
Is Mont Albert safe?
Crime runs at 60.0 offences per 1,000 residents, with 297 total incidents. The mix is property-led: property and deception offences account for 211, while crimes against the person total only 40, so violent crime is a smaller share than property-related incidents.
Is Mont Albert good for property investment?
Rent of $451 a week against a $2,745,000 median gives a gross yield near 0.9%, very low, and the 10.6% vacancy rate signals soft rental demand. Net overseas migration of 208 a year supports demand, but 0.42% annual population growth means returns depend on capital growth rather than yield.
How is Mont Albert's population changing?
Population growth is 0.42% annually, about 45 people a year, with a 4.0% rise over 10 years. The profile is aging, with the senior share up 5.8 points and the working-age share down 1.6 points over the decade. Overseas migration adds 208 residents a year against 83 net internal departures.
What languages are spoken in Mont Albert?
About 32.9% of residents were born overseas, 11.3 points above the national figure. English is dominant, with Mandarin (254 speakers), Cantonese (68), Greek (27) and Italian (25) the most common non-English languages, reflecting a notable East Asian resident mix alongside the Anglo-Celtic majority.
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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