Toorak, VIC — Investment Profile 2021
Based on ABS Census 2021 data · AI-generated insights — for informational use only
Toorak
VICCensus 2021 · Population 14,821
Toorak is an affluent suburb located in Victoria, known for its high-income residents and established community. The suburb has a population of 14,821 with a median age of 47, which is significantly higher than the Victorian median of 38. The gender distribution is slightly skewed towards females, with 53.5% female and 46.5% male. Families in Toorak tend to be couples without children, making up 52.6% of households, while 34.5% are couples with children. The area is characterized by a high level of education, with 51.6% of residents holding a bachelor's degree or higher, compared to the state average of 29.2%.
Key Highlights
- Highly educated population - 51.6% hold bachelor degrees (vs VIC 29.2%)
- High median household income - $2,533 weekly (vs VIC $1,759)
- Significant professional workforce - 40.5% are professionals
- High rate of home ownership - 42.6% owned outright
- Diverse cultural background - 37.2% born overseas
Things to Consider
- Higher median age may not suit younger demographics
- High property prices may challenge first-home buyers
- Predominance of apartments (49.8%) might not suit all families
- Limited public transport usage at 5.9%
- High median monthly mortgage of $3,152
What's it like living here?
Daily life in Toorak is marked by a strong professional presence, with 40.5% of the workforce employed as professionals. The suburb features a high rate of remote work, with 43.0% of residents working from home, which is reflected in the lower reliance on public transport (5.9%) and car commuting (33.6%). The community has a diverse cultural background, with 37.2% of residents born overseas, slightly above the state average of 35.0%.