North Melbourne, VIC — Investment Profile 2021
Based on ABS Census 2021 data · AI-generated insights — for informational use only
North Melbourne
VICCensus 2021 · Population 14,956
North Melbourne is a vibrant suburb with a population of 14,956 and a median age of 31, which is younger than the Victorian average of 38. The suburb is characterized by a high percentage of renters, with 63.7% of residents renting their homes, compared to the state average of 32.2% ownership. The area has a diverse cultural mix, with 52.9% of residents born overseas, notably higher than the Victorian average of 41.3%. The community is well-educated, with 52.5% holding a bachelor's degree or higher, significantly above the state benchmark of 29.2%.
Key Highlights
- Highly educated population - 52.5% hold bachelor degrees (vs VIC 29.2%)
- Diverse community with 52.9% born overseas (vs VIC 41.3%)
- High labour force participation at 67.7%
- Significant renter population at 63.7%
- Above average median personal weekly income of $943
Things to Consider
- Higher unemployment rate at 7.0% compared to state averages
- Predominantly apartment living with 68.3% in apartments
- High percentage of single-person households at 40.0%
- Median weekly rent of $381 may be high for some
- Limited separate houses, only 4.2% of housing stock
What's it like living here?
Daily life in North Melbourne is dynamic, with a significant portion of the population working from home (39.0%), reflecting modern work trends. The suburb offers convenient access to public transport, utilized by 11.5% of commuters, although a larger segment (18.4%) prefers driving. The community has a youthful and professional vibe, with a high concentration of professionals (44.4%) and managers (12.6%).