Tarneit, VIC — Investment Profile 2021
Based on ABS Census 2021 data · AI-generated insights — for informational use only
Tarneit
VICCensus 2021 · Population 56,372
Tarneit is a rapidly growing suburb with a population of 56,372, characterized by a young median age of 30 years, significantly lower than the Victorian average of 38. The community is diverse, with 62.5% of residents born overseas, predominantly from India (28.8%). Family households are prevalent, making up 86.4% of all households, with a high percentage of couples with children (66.0%). The suburb has a strong educational profile, with 37.7% of residents holding a bachelor's degree or higher, surpassing the state average of 29.2%.
Key Highlights
- Young population with a median age of 30 years (vs VIC 38)
- High percentage of overseas-born residents at 62.5% (vs VIC 35%)
- Above average educational attainment with 37.7% holding a bachelor's degree or higher (vs VIC 29.2%)
- High median household income of $2,103 weekly (vs VIC $1,759)
- Predominantly owner-occupied housing with 56.9% owned with a mortgage
Things to Consider
- Higher unemployment rate at 7.3% compared to state average
- Limited public transport usage at 7.1%
- Low percentage of homes owned outright at 9.7%
- Relatively high median monthly mortgage of $1,950
- Significant percentage of non-English speaking households at 70.6%
What's it like living here?
Daily life in Tarneit is family-oriented, with an average of 3.4 people per household. The suburb has a high labour force participation rate of 69.6%, with a notable percentage of residents working from home (21.5%). Commuting is primarily done by car, with 53.6% driving to work, while 7.1% use public transport. The community is culturally rich, with a variety of languages spoken at home, including Punjabi (15.9%) and Hindi (6.3%).