Pyrmont
With 13,612 residents per sq km, Pyrmont is one of the denser inner Sydney housing markets, shaped by apartments rather than detached homes. Apartments make up 94.2% of dwellings and renters account for 63.3%, both higher than a typical owner-occupier suburb. Compared with nearby Ultimo and Haymarket, Pyrmont reads more as a waterfront apartment and professional-worker enclave, with household income in the 91.1 percentile and 56.2% of residents born overseas.
Population
12,658
Median Age
37.0
Household IncomeiMedian weekly household income (ABS Census)
$2,422/wk
DAs (12 months)iDevelopment Applications lodged in the past year
67
Median House
$1.2M
2024-2025 (PSI derived)
Homebuyers are buying into a compact apartment market, not a conventional house suburb. The median house price is $1,197,500, while the 2025 latest recorded price is $1,150,000, 4.2% below the 2024 peak. Dwelling choice is concentrated: 94.2% are apartments, 51.6% have 2 bedrooms and 25.5% have 0 to 1 bedrooms. Mortgage repayments take 26.7% of income, lower than a stress profile, because household income is high at $2,422 a week.
For Buyers
Homebuyers are buying into a compact apartment market, not a conventional house suburb. The median house price is $1,197,500, while the 2025 latest recorded price is $1,150,000, 4.2% below the 2024 peak. Dwelling choice is concentrated: 94.2% are apartments, 51.6% have 2 bedrooms and 25.5% have 0 to 1 bedrooms. Mortgage repayments take 26.7% of income, lower than a stress profile, because household income is high at $2,422 a week.
For Investors
Pyrmont has a deep rental base, with 63.3% of homes rented compared with only 18.2% owned outright and 18.5% mortgaged. Median rent is $580 a week, but the 14.2% vacancy rate is a major risk signal because available supply is high for such a dense suburb. Investors also need to factor in 61 development applications over 12 months. Demand is supported by professional jobs and overseas migration, but pricing power may be lower than in tighter vacancy markets.
Development Activity
Total DAs
398
Last 12 Months
67
YoY ChangeiYear-over-year change in DA lodgements
-17.3%
Avg DA CostiAverage estimated cost per DA in the past year
N/A
Monthly DA Lodgements
DA Categories
Demographics
Pyrmont is younger, more educated and more internationally connected than the national profile. The median age is 37, which is 3.0 years below the national comparison, while 60.6% hold a university qualification, 30.5 percentage points above national. Overseas-born residents make up 56.2%, 34.6 points higher than national. English, Chinese and Irish ancestry are prominent, and Mandarin, Cantonese, Italian, Portuguese and Hindi add to the local language mix.
Age Distribution
Bedrooms
Dwelling Structure
N/A
Houses
5.7%
Townhouse
94.2%
Apartment
Tenure
Housing is almost entirely vertical, with 94.2% apartments and 5.7% semi-detached dwellings. The price series is short but points lower: $1,200,000 in 2024 fell to $1,150,000 in 2025, a 4.2% decline from peak and trough now at the latest quarter. Renting dominates at 63.3%, far higher than outright ownership at 18.2%. The median price is about 9.5 times annual household income, so affordability is helped more by high incomes than by low entry prices.
Median House Price Trend
Source: State Valuer-General
Mortgage / mo
$2,800
Rent / wk
$580
HH Size
2.1
Personal Income / wk
$1,297
Vacancy Ratei% of dwellings unoccupied on Census night (ABS 2021)
14.2%
Unoccupied
927
Rent / IncomeiMedian rent as % of household income. Over 30% = housing stress
23.9%
Mortgage / IncomeiMedian mortgage as % of household income. Over 30% = housing stress
26.7%
Community Profile
Languages Spoken at Home
Ancestry
Household Composition
47.6%
Couples, no children
7,924
Total families
Economy & Employment
Pyrmont’s economy is weighted to high-skill city work. Professional and tech roles account for 22.5% of employed residents, finance 15.0%, healthcare 8.2%, hospitality 7.5% and education 6.3%. Occupations reinforce that pattern, led by 2,679 professionals and 1,572 managers. SEIFA is uneven: IEO decile 10 and IRSAD decile 10 sit well above average, IRSD is decile 7, but IER is only decile 2 because the renter-heavy, smaller-household structure lowers economic resources despite high education.
Unemployment
3.7%
Labour Force
8,966
Unemployed
332
Quarterly Trend
Source: SALM Dec-25
Socio-Economic Indexes (SEIFA)iABS index ranking suburbs from 1 (most disadvantaged) to 10 (most advantaged)
Full-time
71.2%
Part-time
22.8%
Participation
60.3%
Employed
6,441
Occupations
Top Industries
University
60.6%
Postgraduate
20.5%
Born Overseas
56.2%
Dwellings
5,554
Transport to Work
Pyrmont suits residents who value walkability and inner-city access. Walking and cycling account for 40.9% of commuting, close to the 42.6% who drive, while public transport is 11.7%. That active-transport share is high compared with car-dependent suburbs because jobs, services and harbour-edge paths are close by. There are 0 schools recorded inside the suburb, so family livability depends on nearby catchments. IRSAD decile 10 points to above-average socio-economic advantage.
Drive
42.6%
Public Transport
11.7%
Walk / Cycle
40.9%
Work from Home
N/A
Population Forecast
+0.9%/yr
(+126 people/yr)
EstablishedPyrmont’s forecast is steady rather than explosive, at 0.9% annual growth or about 126 people a year. The medium path rises from 14,263 in 2026 to 14,893 by 2031. Migration is the main driver: overseas migration adds an average 764 people a year, while internal migration is negative at 555 people a year, lower than the inflow. The gentrification score is 24 and stage is Early signs, but the shift profile is aging, with seniors up 6.8 points and working-age share down 5.4 points.
Historical + Forecast
Hamilton-Perry + Holt smoothing on ERP 2001-2025
Age Cohort Forecast
Primary Driver
Overseas Migration
Net Overseas / yr
+764
Net Internal / yr
-555
Gentrification Signal
Early signs
Population +11% since 2011, Net internal outflow -555/yr, Strong overseas inflow +764/yr, COVID recovered (-8% dip → full recovery)
National Ranking iPercentile rank among ~15,000 AU suburbs. 90% = higher than 90% of suburbs
How Pyrmont compares to ~15,000 Australian suburbs
Frequently Asked Questions
Is Pyrmont a good suburb to live in?
Yes, for buyers and renters who prioritise density, harbour access and walkability. Pyrmont has 13,612 residents per sq km, 40.9% walk or cycle to work and household income sits in the 91.1 percentile, which is well above average.
What is the median house price in Pyrmont?
The median house price is $1,197,500, while the latest 2025 recorded price is $1,150,000. That latest figure is 4.2% below the 2024 peak of $1,200,000, so recent pricing has softened rather than pushed higher.
What schools are in Pyrmont?
There are 0 schools recorded within Pyrmont itself. Families usually need to compare nearby catchment and independent options outside the suburb, which matters because 94.2% of local dwellings are apartments and family-sized stock is limited.
Is Pyrmont safe?
A crime rate per 1,000 residents is not available for Pyrmont. Practical checks should include NSW Police updates and street-level inspections, especially because density is high at 13,612 residents per sq km and activity can vary by building and block.
Is Pyrmont good for property investment?
Pyrmont has strong rental depth, with 63.3% of dwellings rented and median rent at $580 a week. The caution is vacancy: 14.2% is high compared with tighter markets, and 61 development applications may add competition for tenants.
How is Pyrmont's population changing?
Pyrmont is forecast to grow by 0.9% a year, or about 126 people annually. The medium forecast reaches 14,893 by 2031, driven by average overseas migration of 764 people a year compared with a net internal outflow of 555.
What languages are spoken in Pyrmont?
Pyrmont has a high overseas-born share at 56.2%, which is 34.6 percentage points above national. Common non-English languages include Mandarin with 347 speakers, Cantonese with 231, Italian with 109, Portuguese with 105 and Hindi with 102.
How much development is happening in Pyrmont?
Development activity is active, with 61 applications recorded over 12 months. Recent samples include office, retail, signage and change-of-use work, so the pipeline is more mixed-use and commercial than a simple detached-housing growth story.
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.
Explore Pyrmont on the Map
View parcels, zoning overlays, DA applications, schools and more.
Open Interactive Map