Richmond
A density of 6,452 people per sq km places Richmond among Melbourne's most concentrated inner-urban suburbs, with 28,587 residents across only 4.43 sq km. Its median age of 34 is 6 years below the national figure, while university attainment reaches 63%, or 32.9 percentage points above the national comparison. The profile is apartment-led and renter-majority, with 53.1% of dwellings apartments and 55.3% rented. A 32.0% overseas-born share is 10.4 points above national levels. For buyers comparing Richmond with nearby Abbotsford or Cremorne, the compact footprint, high mobility and professional workforce are defining features because smaller households and central access support apartment living.
Population
28,587
Median Age
34.0
Household IncomeiMedian weekly household income (ABS Census)
$2,245/wk
DAs (12 months)iDevelopment Applications lodged in the past year
267
Median House
$1.3M
October to December 2025
Richmond suits buyers prioritising location and apartment access over large blocks, because only 15.7% of dwellings are separate houses while 53.1% are apartments and 30.7% are semi-detached homes. Two-bedroom homes account for 44.3% of stock, compared with 26.3% for three-bedroom homes and 6.3% for four or more bedrooms. Compared with nearby Abbotsford or Cremorne, buyers should focus on building quality, owners corporation costs and exact street conditions.
For Buyers
Richmond suits buyers prioritising location and apartment access over large blocks, because only 15.7% of dwellings are separate houses while 53.1% are apartments and 30.7% are semi-detached homes. Two-bedroom homes account for 44.3% of stock, compared with 26.3% for three-bedroom homes and 6.3% for four or more bedrooms. Compared with nearby Abbotsford or Cremorne, buyers should focus on building quality, owners corporation costs and exact street conditions.
For Investors
Richmond has a substantial rental market, with 55.3% of occupied dwellings rented and a weekly median rent of $441. The 14.9% vacancy rate is high compared with a tightly supplied rental market, which can lengthen letting periods even when the suburb attracts tenants. Rental growth of 42.0% is higher than the 2.6% long-run annual price CAGR, supporting income growth but not removing vacancy risk. A total of 244 development applications in the past 12 months may add amenity and housing choice, while the wider growth trend runs at 1.95% annually and is driven primarily by internal migration. Apartment exposure is significant, so investors should assess levies, construction quality and competing new supply before assuming strong capital growth.
Development Activity
Total DAs
297
Last 12 Months
267
YoY ChangeiYear-over-year change in DA lodgements
+1807.1%
Avg DA CostiAverage estimated cost per DA in the past year
N/A
Monthly DA Lodgements
DA Categories
Schools in Richmond
Open-register school locations for education access. This is not a school-quality ranking.
Richmond Primary School
Richmond West Primary School
Trinity Catholic School
Yarra Primary School
Bindjiroo Yaluk Community School
Demographics
Richmond's median age of 34 is 6 years below the national comparison, and 63.0% of residents have university qualifications, 32.9 percentage points above the national figure. The overseas-born share is 32.0%, or 10.4 points above national levels. English ancestry is recorded for 9,351 people, Irish for 4,060 and Chinese for 2,086, while 15,371 people report no religion and 8,805 report Christianity. Average household size is 2.0 people, 0.5 below the national comparison, because couples without children make up 54.5% of families. Residential turnover is also high at 38.5%, leaving 61.5% in the same address group. Compared with nearby Abbotsford and Cremorne, Richmond's smaller households and high graduate share reinforce its mobile, professional inner-city profile.
Age Distribution
Bedrooms
Dwelling Structure
15.7%
Houses
30.7%
Townhouse
53.1%
Apartment
Tenure
Housing is strongly apartment-oriented: 53.1% of dwellings are apartments, 30.7% semi-detached and 15.7% separate houses. Two-bedroom properties dominate at 44.3%, followed by three-bedroom homes at 26.3% and one-bedroom or studio dwellings at 23.1%. Tenure is renter-heavy, with 55.3% renting, 24.5% paying a mortgage and 19.0% owning outright. Reported housing costs equal 23.6% of income for mortgage households and 19.6% for renters, with both stress flags false. Prices remain above 2013 levels because demand for compact inner-urban housing has persisted.
Mortgage / mo
$2,292
Rent / wkiMedian weekly rent for new bonds (year ending Sep 2025), Homes Victoria bond data (year-ending median). Census 2021 median: $441.
$675
Bond data year ending Sep 2025 · houses $990 · units $700
HH Size
2.0
Personal Income / wk
$1,356
Vacancy Ratei% of dwellings unoccupied on Census night (ABS 2021)
14.9%
Unoccupied
2,329
Rent / IncomeiMedian rent as % of household income. Over 30% = housing stress
19.6%
Mortgage / IncomeiMedian mortgage as % of household income. Over 30% = housing stress
23.6%
Community Profile
Languages Spoken at Home
Ancestry
Household Composition
28.8%
Couples with children
54.5%
Couples, no children
13.0%
Single parent
6,662
Total families
Economy & Employment
Richmond has a highly qualified employment base, led by Professional/Tech at 20.5% and 3,101 workers, Healthcare at 14.7% and 2,230, Education at 9.4% and 1,428, Finance at 7.9% and 1,191, and Public Administration at 6.7% and 1,006. Professionals number 8,028 and managers 3,498, consistent with household income of $2,245 per week at the 84.8th percentile. Labour force participation is 74.8%, while unemployment is 3.5%. SEIFA results are uneven: the education and occupation decile is 10, the economic resources decile is 2, the disadvantage decile is 7 and the advantage decile is 9. The gap between IEO decile 10 and IER decile 2 is higher than expected from qualifications alone, suggesting strong professional capacity coexists with constrained measured resources because inner-city housing costs absorb a large share of household budgets.
Unemployment
3.5%
Labour Force
19,313
Unemployed
672
Source: ABS Census 2021
Socio-Economic Indexes (SEIFA)iABS index ranking suburbs from 1 (most disadvantaged) to 10 (most advantaged)
Full-time
71.2%
Part-time
23.8%
Participation
74.8%
Employed
18,641
Full-time and part-time are shares of the employed. Source: ABS Census 2021
Occupations
Top Industries
University
63.0%
Postgraduate
17.0%
Born Overseas
32.0%
Dwellings
13,284
Transport to Work
Richmond supports a compact lifestyle, with 52.6% working from home, 27.8% driving as a car occupant and 10.4% walking or cycling, which is higher than the 7.8% using public transport. Nine local schools span six government schools, two Catholic schools and one independent special school across primary and secondary settings; families should check enrolment zones against the exact address. Safety is a clear trade-off, with 3,814 recorded offences and a rate of 133.4 per 1,000 people. Property and deception offences account for 2,587 incidents, followed by 430 crimes against the person, 321 drug offences and 318 justice procedures offences. The IRSAD decile is 9, above the middle of the national decile scale, because education, employment and access advantages remain strong despite the elevated crime rate.
Drive
27.8%
Public Transport
7.8%
Walk / Cycle
10.4%
Work from Home
52.6%
Population Forecast
+1.95%/yr
(+212 people/yr)
EstablishedRichmond is an established suburb, yet its growth trend runs at 1.95% annually and is driven by internal migration. Population change across the wider area is 28.6% over 10 years, while the demographic trajectory is Aging, with the senior share up 4.5 percentage points and the young share down 1.5 points. Gentrification signals are active, with a score of 42, which is higher than the shift measure of 38 and its Early signs stage. Rent growth has reached 42.0%, while real income growth is 12.6%, helping explain why redevelopment and tenure turnover remain prominent. The combination of internal migration, high renter demand and 244 development applications supports continued change, although the aging trajectory means future growth is likely to include more established households rather than only younger newcomers.
Historical + Forecast
Hamilton-Perry + Holt smoothing on ERP 2001-2025
Age Cohort Forecast
Primary Driver
Internal Migration
Net Overseas / yr
+47
Net Internal / yr
+112
Gentrification Signal
Active
Population +39% since 2011, Net internal migration +112/yr, Accelerating: 9% → 27%
Safety & Crime
Total Offences
3,814
Year ending June 2024
Rate per 1,000 People
133.4
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 Richmond compares to ~15,000 Australian suburbs
Frequently Asked Questions
Is Richmond a good suburb to live in?
Richmond suits residents who value central access, apartments and walkable daily routines. It has 28,587 residents, a median age of 34 and 52.6% working from home. The trade-offs are a 55.3% renter share, high density of 6,452 people per sq km and a recorded crime rate of 133.4 offences per 1,000 people.
What schools are in Richmond?
Richmond has 9 listed schools across government, Catholic and independent sectors. The local mix includes 6 government schools, 2 Catholic schools and 1 independent special school, covering primary and secondary settings. School choices include Richmond Primary School, Richmond West Primary School, Yarra Primary School and Richmond High School. Check the enrolment zone for the exact property address.
Is Richmond safe?
Safety requires careful consideration. Richmond recorded 3,814 offences at a rate of 133.4 per 1,000 people, with property and deception offences making up 2,587 incidents. There were also 430 crimes against the person, 321 drug offences and 318 justice procedures offences. Compare streets and building security, particularly around busy commercial and transport areas.
Is Richmond good for property investment?
Richmond can suit investors seeking a deep rental market, with 55.3% of dwellings rented and median rent of $441 per week. However, the 14.9% vacancy rate is high, and 244 development applications may increase competing supply. Rental growth of 42.0% has exceeded the 2.6% long-run price CAGR, while annual growth is forecast at 1.95% and driven by internal migration.
How is Richmond's population changing?
Richmond has 28,587 residents today, with the wider area's population change recorded at 28.6% over 10 years. Growth is running at 1.95% annually and is primarily driven by internal migration. The demographic trajectory is Aging: the senior share has increased 4.5 percentage points while the young share has fallen 1.5 points.
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). Population forecasts use a Hamilton-Perry cohort model calibrated to ABS ERP.
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