Monterey
Greek ancestry dominates here in a way few Sydney bayside suburbs match, with 1,033 residents claiming Greek heritage and 361 speaking Greek at home, the largest non-English language group ahead of Arabic at 184. That migrant depth shows in the 40.3% born overseas, which runs 18.7 points above the national figure. The suburb is older than most, with a median age of 44, four years above national, and household income sits in the 63.2nd percentile, comfortably mid-pack rather than premium. Housing is split almost evenly three ways between outright owners at 38.1%, mortgage holders at 30.7% and renters at 31.2%, and the $1,127,500 median house price climbed 24% in a single year off a thin two-quarter sample.
Population
4,619
Median Age
44.0
Household IncomeiMedian weekly household income (ABS Census)
$1,785/wk
DAs (12 months)iDevelopment Applications lodged in the past year
31
Median House
$1.1M
2024-2025 (PSI derived)
The $1,127,500 median house price reflects a recorded jump from $1,000,000 in 2024 to $1,240,000 in 2025, a 24% move, though that rests on a two-quarter PSI-derived sample so the trend is indicative rather than settled. Separate houses make up 43.5% of stock, with apartments at 34.4% and semi-detached homes at 21.6%, so detached buyers compete against a meaningful unit market in a compact 1.15 km2 footprint. Two-bedroom dwellings lead at 36.6% and three-bedroom at 33.5%, while 4-plus bedroom homes reach 26.3%, a healthier family-house share than denser inner suburbs offer. Monthly mortgage repayments average $2,600, producing a mortgage-to-income ratio of 33.6%, above the 30% stress threshold, because purchase prices have outrun the 63.2nd-percentile household incomes that support them.
For Buyers
The $1,127,500 median house price reflects a recorded jump from $1,000,000 in 2024 to $1,240,000 in 2025, a 24% move, though that rests on a two-quarter PSI-derived sample so the trend is indicative rather than settled. Separate houses make up 43.5% of stock, with apartments at 34.4% and semi-detached homes at 21.6%, so detached buyers compete against a meaningful unit market in a compact 1.15 km2 footprint. Two-bedroom dwellings lead at 36.6% and three-bedroom at 33.5%, while 4-plus bedroom homes reach 26.3%, a healthier family-house share than denser inner suburbs offer. Monthly mortgage repayments average $2,600, producing a mortgage-to-income ratio of 33.6%, above the 30% stress threshold, because purchase prices have outrun the 63.2nd-percentile household incomes that support them.
For Investors
Renters make up 31.2% of households and weekly rent averages $480, giving landlords a steady but unspectacular tenant base. Against the $1,127,500 median, that rent implies a gross yield near 2.2%, low for Sydney but better than the premium harbour suburbs. The vacancy rate of 7.4% is elevated, pointing to softness in the 34.4% apartment segment rather than tight demand. Demand support is two-sided: net overseas migration adds 262 residents a year to the wider area while internal migration removes 372, leaving the suburb reliant on new arrivals to hold numbers. Development is modest at 28 applications in 12 months, weighted toward pools, garages and the occasional dual occupancy rather than large new supply. With rent growth of 21.6% over the period against flat capital pricing, the case leans on income and migration more than near-term capital gain.
Development Activity
Total DAs
156
Last 12 Months
31
YoY ChangeiYear-over-year change in DA lodgements
+24.0%
Avg DA CostiAverage estimated cost per DA in the past year
N/A
Monthly DA Lodgements
DA Categories
Demographics
The median age of 44 is 4.0 years above the national figure, and the trajectory is aging, with the senior share up 3.2 points while the working-age share fell 1.6 points over the decade. Overseas-born residents reach 40.3%, which is 18.7 points above national, and the migrant story is distinctly Greek: 1,033 residents claim Greek ancestry and 361 speak Greek at home, ahead of Arabic at 184 and Macedonian at 64. University qualifications at 42.3% run 12.2 points above national, a stronger education profile than the mid-range income would suggest. Average household size is 2.5, level with the national figure, consistent with a mix of established couples and families: couples with children number 1,326 against 957 couple-only households. Christianity dominates at 3,087 residents, with Islam second at 310, reflecting the Greek Orthodox and Middle Eastern threads in the population.
Age Distribution
Bedrooms
Dwelling Structure
43.5%
Houses
21.6%
Townhouse
34.4%
Apartment
Tenure
Tenure divides almost evenly: 38.1% own outright, 30.7% carry a mortgage and 31.2% rent. Outright owners outnumbering mortgage holders signals long-held, debt-free ownership typical of an older, settled population. The stock is 43.5% separate houses, 34.4% apartments and 21.6% semi-detached, a broader spread than denser bayside suburbs, which keeps a genuine house market alive alongside units. Two-bedroom dwellings account for 36.6% and three-bedroom 33.5%, while 4-plus bedroom homes reach 26.3%. The median house price moved from $1,000,000 in 2024 to $1,240,000 in 2025, a recorded 24% one-year rise off limited data. Mortgage-to-income at 33.6% sits above the stress threshold while rent-to-income at 26.9% stays under it, a divergence showing how much steeper buying has become than renting relative to the 63.2nd-percentile incomes here.
Median House Price Trend
Source: State Valuer-General
Mortgage / mo
$2,600
Rent / wk
$480
HH Size
2.5
Personal Income / wk
$847
Vacancy Ratei% of dwellings unoccupied on Census night (ABS 2021)
7.4%
Unoccupied
144
Rent / IncomeiMedian rent as % of household income. Over 30% = housing stress
26.9%
Mortgage / IncomeiMedian mortgage as % of household income. Over 30% = housing stress
33.6% stressed
Community Profile
Languages Spoken at Home
Ancestry
Household Composition
25.6%
Couples, no children
3,736
Total families
Economy & Employment
The workforce concentrates in services rather than high-finance: Healthcare leads at 16.1% (239 workers), with Professional/Tech and Education tied at 10.1% (150 each), Construction at 9.8% and Finance at 8.2%. By occupation, Professionals (547) and Managers (364) head the list, followed by Clerical and Admin (359), which aligns with the decile 7 IEO score for education and occupation. Unemployment reads 5.3% and the full-time rate is 67.5%, while participation is low at 49.9% because the aging profile leaves 1,546 residents out of the labour force. The SEIFA picture is mixed: IRSAD and IEO both sit at decile 7, IRSD at decile 5, but IER (economic resources) drops to decile 4, because the 31.2% renter base and modest incomes pull aggregate household wealth measures below the education and occupation advantage.
Unemployment
3.8%
Labour Force
8,397
Unemployed
317
Quarterly Trend
Source: SALM Dec-25
Socio-Economic Indexes (SEIFA)iABS index ranking suburbs from 1 (most disadvantaged) to 10 (most advantaged)
Full-time
67.5%
Part-time
27.2%
Participation
49.9%
Employed
1,866
Occupations
Top Industries
University
42.3%
Postgraduate
9.6%
Born Overseas
40.3%
Dwellings
1,812
Transport to Work
This is a car-dependent suburb, with 87.5% driving to work against just 3.8% on public transport and 2.7% walking or cycling, well below the active-transport share of denser inner areas. The SEIFA profile is solidly above-average without being elite: decile 7 on IRSAD and IEO, decile 5 on IRSD for relative disadvantage, indicating few residents face deep deprivation. Rent-to-income at 26.9% keeps tenants below stress, though buyers carrying a mortgage-to-income ratio of 33.6% feel the pinch. About 6.5% of residents (287 people) need daily assistance, consistent with the older median age of 44, and volunteering runs at 8.8%. No schools are recorded inside the 1.15 km2 boundary, so families rely on institutions in neighbouring Ramsgate and Brighton-Le-Sands, a practical trade-off for the compact, bayside setting.
Drive
87.5%
Public Transport
3.8%
Walk / Cycle
2.7%
Work from Home
N/A
Population Forecast
-0.16%/yr
(-22 people/yr)
EstablishedMonterey is effectively flat to declining, with annual population change at -0.16% and a 10-year rise of just 5.9%, marking it an established, slow-growth suburb. At the wider SA2 level the population has not recovered from COVID, sitting 1.5% below the COVID low and 4.9% under the pre-COVID peak, with medium forecasts easing from 13,899 in 2026 to 13,790 by 2031. The only positive driver is overseas migration at 262 a year, offset by net internal outflow of 372, so growth depends entirely on new arrivals replacing departures. Affordability improved from 62.4% in 2011 to 55.2% in 2021 as real incomes grew 11.7%, and the gentrification reading shows early signs at a score of 29, though net outflow keeps it short of a clear upgrading trend.
Historical + Forecast
Hamilton-Perry + Holt smoothing on ERP 2001-2025
Age Cohort Forecast
Primary Driver
Overseas Migration
Net Overseas / yr
+262
Net Internal / yr
-372
Gentrification Signal
Not gentrifying
Net internal outflow -372/yr, Strong overseas inflow +262/yr
National Ranking iPercentile rank among ~15,000 AU suburbs. 90% = higher than 90% of suburbs
How Monterey compares to ~15,000 Australian suburbs
Frequently Asked Questions
Is Monterey a good suburb to live in?
Monterey scores decile 7 on the IRSAD and IEO indexes, above the national average, with university qualifications at 42.3%, which is 12.2 points above national. It suits older households and migrant families, with 40.3% born overseas. The main trade-offs are a $1,127,500 median house price and heavy car dependence at 87.5% driving.
What is the median house price in Monterey?
The median house price is $1,127,500. Recorded prices rose from $1,000,000 in 2024 to $1,240,000 in 2025, a 24% move off a small sample. Weekly rent averages $480 and monthly mortgage repayments run about $2,600, giving a mortgage-to-income ratio of 33.6%, above the 30% stress threshold.
What schools are in Monterey?
No schools are recorded inside the 1.15 km2 Monterey boundary in this dataset, so families rely on schools in neighbouring suburbs such as Ramsgate and Brighton-Le-Sands. The local population is well educated, with university qualifications at 42.3%, which is 12.2 points above the national figure.
Is Monterey safe?
Detailed crime statistics are not available for Monterey in this dataset. As an indirect indicator, the suburb scores decile 5 on the IRSD index of relative disadvantage and decile 7 on IRSAD, both at or above the national average, and only 6.5% of its residents need daily assistance, consistent with a settled residential area.
Is Monterey good for property investment?
Rent of $480 a week against a $1,127,500 median gives a gross yield near 2.2%, modest for Sydney, and the 7.4% vacancy rate signals some apartment softness. Net overseas migration of 262 a year supports demand, but net internal outflow of 372 and -0.16% population change mean returns lean on rent growth over capital gains.
How is Monterey's population changing?
Population change is -0.16% annually with a 5.9% rise over 10 years. The wider area sits 1.5% below its COVID low and has not recovered the pre-COVID peak. The profile is aging, with the senior share up 3.2 points and the working-age share down 1.6 points over the decade.
What languages are spoken in Monterey?
About 40.3% of residents were born overseas, 18.7 points above the national figure. Greek is the leading non-English language with 361 speakers, ahead of Arabic at 184, Macedonian at 64 and Serbian at 47, reflecting a strong Greek heritage with 1,033 residents claiming Greek ancestry.
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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