Port Melbourne
Premium pricing sits beside unusually high vacancy in Port Melbourne: the median house price is $1.71 million, while vacancy is 14.5% and apartments make up 50.0% of dwellings. Compared with nearby Southbank or Docklands, it has more low-rise bayside housing, with 43.9% semi-detached stock and only 6.0% separate houses. Household income is in the 89.7 percentile nationally, supporting high values, but the rental market is more exposed than lower-vacancy inner suburbs.
Population
17,633
Median Age
42.0
Household IncomeiMedian weekly household income (ABS Census)
$2,372/wk
DAs (12 months)iDevelopment Applications lodged in the past year
64
Median House
$1.7M
Apr-Jun 2024
Buyers are paying for a scarce house market rather than land abundance: only 6.0% of homes are separate houses, compared with 50.0% apartments and 43.9% semi-detached dwellings. The median house price is $1.71 million, down 7.6% from the $1.85 million peak, so recent buyers have slightly more room than in Apr-Jun 2023. Mortgage repayments absorb 24.3% of income, below common stress levels, because household income is high at $2,372 weekly.
For Buyers
Buyers are paying for a scarce house market rather than land abundance: only 6.0% of homes are separate houses, compared with 50.0% apartments and 43.9% semi-detached dwellings. The median house price is $1.71 million, down 7.6% from the $1.85 million peak, so recent buyers have slightly more room than in Apr-Jun 2023. Mortgage repayments absorb 24.3% of income, below common stress levels, because household income is high at $2,372 weekly.
For Investors
Port Melbourne has a large tenant base, with 44.4% of homes rented and a median rent of $540 weekly, but the 14.5% vacancy rate is far higher than a tight rental market. That weakens short-term pricing power even though rent growth in the forecast shift is 13.8%. Development activity is active, with 51 applications in 12 months, so investors should compare individual buildings carefully because new supply can compete directly with apartment rentals.
Development Activity
Total DAs
92
Last 12 Months
64
YoY ChangeiYear-over-year change in DA lodgements
+220.0%
Avg DA CostiAverage estimated cost per DA in the past year
$1.4M
Monthly DA Lodgements
DA Categories
Schools in Port Melbourne iICSEA: school advantage index. 1000 = national avg, higher = more advantaged
Port Melbourne Primary School
Prep-6 · 697 students
Port Melbourne Secondary College
7-10 · 416 students
Demographics
Port Melbourne skews older and highly educated: the median age is 42, which is 2.0 years above the national benchmark, and 53.9% hold a university qualification, 23.8 percentage points higher than nationally. Overseas-born residents account for 32.0%, also 10.4 points above the national figure. English, Irish and Scottish ancestry counts dominate, while Greek, Mandarin and Italian languages add smaller migrant layers to a high-income inner bayside population.
Age Distribution
Bedrooms
Dwelling Structure
6.0%
Houses
43.9%
Townhouse
50.0%
Apartment
Tenure
Housing is dense and mixed-format, with 50.0% apartments, 43.9% semi-detached dwellings and only 6.0% separate houses, so buyers comparing it with Albert Park or Middle Park face a more apartment-led market. Prices have risen 71.9% from $995,000 in 2013 to $1.71 million in Apr-Jun 2024, equal to 3.9% annual growth over 14 years. The latest price is 7.6% below the $1.85 million peak, while ownership is split between 26.4% owned outright, 29.2% mortgaged and 44.4% renting.
Median House Price Trend
Source: State Valuer-General
Mortgage / mo
$2,500
Rent / wk
$540
HH Size
2.1
Personal Income / wk
$1,366
Vacancy Ratei% of dwellings unoccupied on Census night (ABS 2021)
14.5%
Unoccupied
1,324
Rent / IncomeiMedian rent as % of household income. Over 30% = housing stress
22.8%
Mortgage / IncomeiMedian mortgage as % of household income. Over 30% = housing stress
24.3%
Community Profile
Languages Spoken at Home
Ancestry
Household Composition
36.7%
Couples, no children
12,134
Total families
Economy & Employment
The local workforce is concentrated in high-skill sectors, with Professional/Tech at 18.3%, Healthcare 11.6%, Finance 9.4%, Education 8.4% and Construction 7.7%. Professionals number 3,492 and Managers 2,385, helping explain household income in the 89.7 percentile nationally. SEIFA is strong on advantage, with IRSAD decile 9 and IEO decile 10, but IER decile 5 is lower, suggesting economic resources are more mixed than education and occupation status imply.
Unemployment
4.4%
Labour Force
10,746
Unemployed
475
Quarterly Trend
Source: SALM Dec-25
Socio-Economic Indexes (SEIFA)iABS index ranking suburbs from 1 (most disadvantaged) to 10 (most advantaged)
Full-time
73.3%
Part-time
22.5%
Participation
63.2%
Employed
9,206
Occupations
Top Industries
University
53.9%
Postgraduate
16.1%
Born Overseas
32.0%
Dwellings
7,830
Transport to Work
Daily life is shaped by bayside density, walkability and car reliance. Walking and cycling account for 16.5% of journeys, but car driving is much higher at 75.9% and public transport use is only 2.7%. Schooling is compact, with 2 government schools: Port Melbourne Primary has ICSEA 1134 and 697 students, while Port Melbourne Secondary College has ICSEA 1101 and 416 students. Safety is the trade-off, with 149.8 offences per 1,000 people, above many residential suburbs, despite IRSAD decile 9 advantage.
Drive
75.9%
Public Transport
2.7%
Walk / Cycle
16.5%
Work from Home
N/A
Population Forecast
+6.0%/yr
(+189 people/yr)
High GrowthPort Melbourne is classified as high growth, with the forecast trend adding 189 people a year, or 6.0% annually. Migration is the main engine because average net internal migration is 238 people a year, compared with 42 from overseas. The medium path rises from 2,867 in 2026 to 3,812 in 2031. The shift profile is Mixed: rent growth is 13.8%, real income growth is 8.3%, and the gentrification score is 0, labelled Not gentrifying, so growth is more about redevelopment and movement than an early-cycle uplift.
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
2,641
Year ending June 2024
Rate per 1,000 People
149.8
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 Port Melbourne compares to ~15,000 Australian suburbs
Frequently Asked Questions
Is Port Melbourne a good suburb to live in?
Port Melbourne suits buyers who want inner bayside living, high incomes and compact housing. It has 17,633 residents, a $2,372 median weekly household income and 16.5% walking or cycling to work, but the 149.8 offences per 1,000 people rate is a key trade-off.
What is the median house price in Port Melbourne?
The median house price in Port Melbourne is $1.71 million for Apr-Jun 2024. That is 7.6% below the $1.85 million peak, but still 71.9% higher than the $995,000 level recorded in 2013.
What schools are in Port Melbourne?
Port Melbourne has 2 local government schools. Port Melbourne Primary School has ICSEA 1134 and 697 enrolments, while Port Melbourne Secondary College has ICSEA 1101 and 416 enrolments.
Is Port Melbourne safe?
Port Melbourne records 2,641 offences, equal to 149.8 per 1,000 residents. Property and deception offences are the largest category with 1,769 incidents, so apartment security and street-level location matter when choosing a home.
Is Port Melbourne good for property investment?
It has investor appeal because 44.4% of dwellings are rented and median rent is $540 weekly, but vacancy is high at 14.5%. With 51 development applications in 12 months, investors should factor in competing new supply.
How is Port Melbourne's population changing?
The forecast classifies Port Melbourne as high growth, with a 6.0% annual trend and 189 additional people per year. Internal migration is the main driver, averaging 238 net arrivals a year compared with 42 from overseas.
What languages are spoken in Port Melbourne?
Port Melbourne is 32.0% overseas-born. The main non-English language counts include Greek at 359 speakers, Mandarin at 147, Italian at 123, French at 69 and Cantonese at 62.
Is there much development in Port Melbourne?
Yes. There were 51 development applications over 12 months, including planning permits and subdivision activity. That level of activity is important because apartments already make up 50.0% of housing.
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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