Melbourne, VIC — Investment Profile 2021
Based on ABS Census 2021 data · AI-generated insights — for informational use only
Melbourne
VICCensus 2021 · Population 54,945
Melbourne is a vibrant suburb with a total population of 54,945. The median age is notably young at 29 years, compared to the Victorian average of 38 years. The gender distribution is fairly balanced, with 49.8% male and 50.2% female residents. The suburb is characterized by a high percentage of single-person households at 47.2%, and a significant portion of the population, 68.4%, are couples without children. The average household size is relatively small at 1.7 people per household.
Key Highlights
- Highly educated population - 51.8% hold bachelor degrees (vs VIC 29.2%)
- Young median age of 29 years (vs VIC 38 years)
- High labour force participation at 68.3%
- Significant renter population - 71.0% of households
- Diverse cultural background with 26.6% born in Australia
Things to Consider
- Higher unemployment rate at 8.6% compared to state averages
- Predominantly apartment living with 99.2% residing in apartments
- Low percentage of home ownership at 12.7% owned outright
- High median weekly rent of $381
- Limited presence of family households at 37.5%
What's it like living here?
Daily life in Melbourne is dynamic, with a significant portion of the population, 34.2%, working from home. Public transport is a popular commuting option, used by 23.4% of residents, while only 10.3% drive to work. The community has a strong professional presence, with 35.3% of the workforce employed as professionals. The suburb's cultural diversity is reflected in the languages spoken, with 20.1% of residents speaking Mandarin at home.