Cheltenham, VIC — Investment Profile 2021
Based on ABS Census 2021 data · AI-generated insights — for informational use only
Cheltenham
VICCensus 2021 · Population 23,991
Cheltenham is a suburb with a population of 23,991, characterized by a median age of 40, which is slightly older than the Victorian average of 38. The gender distribution is fairly balanced, with 47.8% male and 52.2% female residents. The suburb is home to a significant number of families, with 47.4% of households being couples with children and 35.1% couples without children. Single-person households make up 28.9% of the community. The average household size is 2.4 people, indicating a mix of family and individual living arrangements.
Key Highlights
- Above average education levels - 34.6% hold bachelor degrees (vs VIC 29.2%)
- High median household income of $1,919 weekly (vs VIC $1,759)
- Significant work-from-home culture - 34.4% work from home
- Diverse cultural background with 33.5% born overseas
- Mixed housing options with 58.5% separate houses and 18.5% apartments
Things to Consider
- Higher median monthly mortgage of $2,200 may be challenging for some buyers
- Lower proportion of separate houses compared to VIC average (58.5% vs 73.4%)
- Public transport usage is low at 3.9%, which may affect those without cars
- Higher percentage of high-income households could influence local cost of living
- Rented properties make up 27.1%, slightly below the VIC average of 28.5%
What's it like living here?
Cheltenham offers a blend of suburban living with a moderate level of urban convenience. The suburb has a high rate of work-from-home arrangements at 34.4%, significantly above the Victorian average of 25.7%, suggesting a community accustomed to flexible working conditions. With 42.2% of residents driving to work, car travel remains a popular commuting option, although public transport usage is relatively low at 3.9%.