Elwood, VIC — Investment Profile 2021
Based on ABS Census 2021 data · AI-generated insights — for informational use only
Elwood
VICCensus 2021 · Population 15,158
Elwood is a vibrant suburb located in Victoria, with a population of 15,158 people. The median age is 38, which aligns with the Victorian average. The suburb has a slightly higher female population at 52.8% compared to males at 47.2%. Elwood is characterized by a high percentage of apartments, making up 72.1% of housing, which is significantly higher than the Victorian average of 26.6% for separate houses. The area is popular among couples without children, who make up 48.4% of the family demographic, and single-person households, which account for 44.1%.
Key Highlights
- Highly educated population - 51.6% hold bachelor degrees (vs VIC 29.2%)
- High median personal weekly income of $1,364
- Significant work-from-home culture - 45.1% (vs VIC 25.7%)
- Renter-heavy with 51.4% of properties rented
- Diverse cultural background with 79.5% speaking only English at home
Things to Consider
- High median weekly rent of $415 may be challenging for some
- Low percentage of separate houses at 14.2%
- High percentage of single-person households at 44.1%
- High percentage of professionals may indicate competitive job market
- Mental health conditions reported by 9.8% of the population
What's it like living here?
Daily life in Elwood is marked by a strong work-from-home culture, with 45.1% of residents working remotely, much higher than the Victorian average of 25.7%. The suburb has a high labour force participation rate of 74.7% and a relatively low unemployment rate of 4.2%. Commuting by car is less common, with only 31.0% of residents driving to work, while public transport usage is at 5.9%. The community has a diverse cultural feel, with a significant portion of the population born in Australia (67.5%) and a variety of languages spoken at home.