Balaclava, VIC — Investment Profile 2021
Based on ABS Census 2021 data · AI-generated insights — for informational use only
Balaclava
VICCensus 2021 · Population 5,390
Balaclava, VIC, is a suburb with a population of 5,390 and a median age of 35, slightly younger than the Victorian average of 38. The gender distribution is fairly balanced, with 49.6% male and 50.4% female. The suburb has a significant proportion of young children, with 4.8% aged 0-4 years and 4.1% aged 5-9 years. Families in Balaclava are diverse, with 49.8% being couples without children and 34.9% couples with children. Single-person households make up 39.7% of the suburb, indicating a high level of individual living.
Key Highlights
- Highly educated population - 48.9% hold bachelor degrees or higher (vs VIC 29.2%)
- Above average median personal weekly income of $1,172 (vs VIC $1,759 household)
- Significant work-from-home culture - 43.6% (vs VIC 25.7%)
- Renter-heavy housing market - 48.3% rented (vs VIC 28.5%)
- Diverse cultural background with 60.3% born in Australia
Things to Consider
- High proportion of apartments - 60.8% (vs VIC 73.4% separate houses)
- Higher median monthly mortgage of $2,223
- Significant mental health conditions reported at 11.0%
- Limited car usage for commuting - 24.2%
- Single-person households are 39.7%, which may affect community dynamics
What's it like living here?
Daily life in Balaclava is characterized by a high level of work-from-home arrangements, with 43.6% of the population working remotely, compared to the Victorian average of 25.7%. Public transport usage is moderate at 11.1%, while only 24.2% drive to work, reflecting the suburb's urban setting and accessibility. The community has a strong professional presence, with 37.5% employed as professionals.