Princes Hill
A 0.43 sq km footprint holds 2,005 residents at a density of 4,627.3 people per sq km, making Princes Hill a compact, premium inner-city market rather than a growth suburb. Household income sits at the 84.3rd percentile, and 67.5% of residents have university qualifications, 37.4 percentage points above the national rate. Compared with nearby Carlton North and Fitzroy North, Princes Hill has a smaller physical scale and a strongly established profile. Its appeal comes from professional employment and urban convenience, but 145.6 offences per 1,000 residents and an aging trajectory deserve equal weight.
Local council: Yarra
Population
2,005
Median Age
39.0
Household IncomeiMedian weekly household income (ABS Census)
$2,218/wk
DAs (12 months)iDevelopment Applications lodged in the past year
21
Median House
$2.3M
October to December 2025
Only a handful of houses sold here in this period, so this median can jump sharply from one quarter to the next for reasons that have nothing to do with the market. Treat it as a rough guide, not a settled price.
Mortgage repayments equal 31.2% of household income, so buyers need stronger cash flow than in a lower-priced market. Housing is weighted toward semi-detached homes at 56.8%, with apartments at 28.6% and separate houses at only 14.1%. Two-bedroom and three-bedroom homes dominate at 36.2% and 37.0%, while 15.3% have four or more bedrooms. Compared with a conventional detached-house suburb, the stock is more compact because the area is only 0.43 sq km. Prices are 3.9% below the January-March 2024 peak but still 85.6% above 2013 levels.
For Buyers
Mortgage repayments equal 31.2% of household income, so buyers need stronger cash flow than in a lower-priced market. Housing is weighted toward semi-detached homes at 56.8%, with apartments at 28.6% and separate houses at only 14.1%. Two-bedroom and three-bedroom homes dominate at 36.2% and 37.0%, while 15.3% have four or more bedrooms. Compared with a conventional detached-house suburb, the stock is more compact because the area is only 0.43 sq km. Prices are 3.9% below the January-March 2024 peak but still 85.6% above 2013 levels.
For Investors
Princes Hill has a sizeable rental base, with 42.2% of occupied dwellings rented and a median weekly rent of $462. The 13.0% vacancy rate is high compared with a tightly constrained rental market, which may give tenants more choice and create longer leasing periods for some properties. Rent has grown 28.8% across the established-area trend, while rent stress remains relatively contained at 20.8% of income. Twenty-one planning permits were recorded over 12 months, signalling ongoing renovation and small-scale property activity rather than a large new-development pipeline. Compared with an owner-occupier-only play, the suburb has a clearer tenant market, but investors should allow for vacancy risk because supply is not exceptionally tight. Overseas migration is the primary migration driver.
Development Activity
Total DAs
21
Last 12 Months
21
YoY ChangeiYear-over-year change in DA lodgements
—
Avg DA CostiAverage estimated cost per DA in the past year
N/A
Monthly DA Lodgements
DA Categories
Schools in Princes Hill
Open-register school locations for education access. This is not a school-quality ranking.
Princes Hill Primary School
Princes Hill Secondary College
Demographics
Princes Hill has a median age of 39, which is 1.0 year below the national comparison, but its direction is aging as the senior share has risen 4.3 percentage points. University qualification rates reach 67.5%, or 37.4 points above the national rate, supporting a highly educated professional profile. Overseas-born residents account for 22.9%, only 1.3 points above the national comparison, while English, Irish, Italian and Scottish ancestry counts are 680, 375, 269 and 266. Average household size is 2.2 people, 0.3 below the national figure, reflecting 48.9% couples without children. Compared with nearby Carlton North and Fitzroy North, the suburb presents as a compact, established community because 69.9% of residents stayed at the same address while turnover was 30.1%.
Age Distribution
Bedrooms
Dwelling Structure
14.1%
Houses
56.8%
Townhouse
28.6%
Apartment
Tenure
Prices have moved sharply over the long term but remain below their recent peak. Compared with a standard detached-suburban mix, Princes Hill is more compact, with 56.8% semi-detached dwellings, 28.6% apartments and only 14.1% separate houses. Tenure is split between 35.6% owned outright, 17.2% with a mortgage and 42.2% rented. Mortgage stress reaches 31.2% of income, above the 20.8% rent-to-income share, because high purchase prices place greater pressure on financed owners.
Mortgage / mo
$3,000
Rent / wkiABS Census 2021 median across all dwelling types. Current market rents are typically higher.
$462
Census 2021
HH Size
2.2
Personal Income / wk
$1,156
Vacancy Ratei% of dwellings unoccupied on Census night (ABS 2021)
13.0%
Unoccupied
127
Rent / IncomeiMedian rent as % of household income. Over 30% = housing stress
20.8%
Mortgage / IncomeiMedian mortgage as % of household income. Over 30% = housing stress
31.2% stressed
Community Profile
Languages Spoken at Home
Ancestry
Household Composition
34.8%
Couples with children
48.9%
Couples, no children
12.2%
Single parent
491
Total families
Economy & Employment
The local economy is concentrated in knowledge and service work. Professional and technology industries account for 19.8% of jobs, followed by healthcare at 16.2%, education at 13.7%, public administration at 8.1% and retail at 6.2%. The occupation profile reinforces this pattern, with 520 professionals and 170 managers compared with 108 community and personal service workers, 107 clerical and administrative workers, and 78 sales workers. Household income is at the 84.3rd percentile, while unemployment is 5.0% and labour-force participation is 65.9%. Princes Hill ranks above average on education and occupational advantage, reflected in IEO decile 10, while IER is decile 4. IRSD and IRSAD both rank in decile 10, so strong skills and neighbourhood advantage coexist with more mixed economic resources.
Unemployment
5.0%
Labour Force
1,150
Unemployed
57
Source: ABS Census 2021
Socio-Economic Indexes (SEIFA)iABS index ranking suburbs from 1 (most disadvantaged) to 10 (most advantaged)
Full-time
58.7%
Part-time
34.8%
Participation
65.9%
Employed
1,093
Full-time and part-time are shares of the employed. Source: ABS Census 2021
Occupations
Top Industries
University
67.5%
Postgraduate
26.6%
Born Overseas
22.9%
Dwellings
856
Transport to Work
Princes Hill suits residents who value compact urban living and a high proportion of home-based work: 53.2% work from home, compared with 24.9% who drive a car and 5.9% who use public transport as their main travel mode. Walking and cycling account for 13.8%, supporting short local trips because the suburb covers only 0.43 sq km. Families have access to 2 nearby government schools spanning primary and secondary levels, though enrolment zones should be checked against the exact address. Safety requires attention: 292 offences produced a rate of 145.6 per 1,000 residents, including 236 property and deception offences and 25 crimes against the person. Socioeconomic advantage ranks in the top IRSAD decile of 10, while 23.1% volunteer and 3.8% need assistance. Compared with a quieter low-density setting, the main trade-off is inner-city convenience alongside higher reported crime exposure.
Drive
24.9%
Public Transport
5.9%
Walk / Cycle
13.8%
Work from Home
53.2%
Growth Outlook
Princes Hill has a slow-growth outlook, with the annual trend at -0.11% and population change across the wider area at -1.3% over 10 years. The trajectory is classified as Aging, supported by a 4.3 percentage-point increase in the senior share and a 1.8-point decline in the working share. Overseas migration is the primary driver, but it has not translated into broad population expansion. Compared with a high-growth outer suburb, this is an established market where demand is more likely to be sustained by location and replacement activity than rapid resident growth. Rents have increased 28.8%, while the gentrification score is 10 and the stage remains Not gentrifying. The area also experienced a 7.8% COVID-era dip and has not fully recovered, with recovery recorded at 4.7%.
Population trend: Yarra council area
Princes Hill sits in the Yarra council area. These are the council area's residents, not Princes Hill's.
Residents 2025
101,356
Growth, 5 yr average
+0.9%/yr
2020 to 2025
Growth, last year
+1.4%
2024 to 2025
ABS Estimated Resident Population by LGA, 30 June each year; council area, not this suburb
Safety & Crime
Total Offences
292
Year ending June 2024
Rate per 1,000 People
145.6
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 Princes Hill compares to ~15,000 Australian suburbs
Frequently Asked Questions
What schools are in Princes Hill?
Princes Hill has 2 local government schools: Princes Hill Primary School and Princes Hill Secondary College. Families should confirm the relevant enrolment zone for an address, as catchments can affect access even when a school is nearby.
Is Princes Hill safe?
Safety is a factor to investigate carefully. There were 292 recorded offences, equal to 145.6 offences per 1,000 residents, with 236 property and deception offences and 25 crimes against the person. Checking the immediate street, lighting and evening activity is sensible before renting or buying.
How is Princes Hill's population changing?
The current population is 2,005, while the wider-area trend is slow and aging. Annual growth is recorded at -0.11% and 10-year population change at -1.3%. The senior share has increased 4.3 percentage points, and overseas migration remains the primary driver.
What development is happening in Princes Hill?
There were 21 planning permits in the latest 12-month period. Examples include partial demolition with internal and external alterations and demolition of a brick fence. This points to ongoing property upgrades and small-scale change rather than a large housing release, so buyers should check permits near a prospective address.
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), Valuer-General Victoria (house prices), state education open registers (school locations), state Crime Statistics agencies (offences), council DA portals (development applications).
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