Hopetoun Park, VIC — Investment Profile 2021
Based on ABS Census 2021 data · AI-generated insights — for informational use only
Hopetoun Park
VICCensus 2021 · Population 911
Hopetoun Park is a small suburb with a population of 911 people, characterized by a family-oriented community. The median age is 38, aligning with the Victorian average. A significant portion of households are family-based, with 66.0% being couples with children, and the average household size is 3.5 people. The suburb has a high rate of homeownership, with 63.8% of homes owned with a mortgage and 31.5% owned outright. The median household income is $2,562 per week, which is considerably higher than the Victorian average of $1,759.
Key Highlights
- High homeownership rate - 95.3% of homes are owned (outright or with mortgage)
- Low unemployment rate of 3.8% compared to VIC average of 5.0%
- High median household income of $2,562 weekly (vs VIC $1,759)
- Predominantly family households - 92.3% are family households
- 100% of homes are separate houses, indicating spacious living
Things to Consider
- Limited rental market with only 2.4% of properties rented
- Lower educational attainment with 12.3% holding a bachelor's degree (vs VIC 29.2%)
- Limited diversity with 86.1% born in Australia
- Higher median monthly mortgage of $2,167 may be a barrier for some buyers
What's it like living here?
Daily life in Hopetoun Park is likely centered around family activities, given the high percentage of family households. Commuting is predominantly by car, with 57.6% of residents driving to work. A notable 18.3% of the population works from home, which is lower than the Victorian average of 25.7%. The community has a strong sense of local identity, with 86.1% of residents born in Australia and 91.1% speaking only English at home.