Albert Park (Vic.)

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According to ABS population updates for the wider region and recent address validations conducted by Districts since the Census, the suburb of Albert Park (Vic.) has an estimated population of 6,713 as of May 2026. This represents a growth of 669 people (11.1%) from the 2021 Census, which counted 6,044 people. This shift is derived from a resident population of 6,644, estimated by Districts using the ABS June 2025 ERP release, combined with 7 validated new addresses identified since the Census. Such population numbers translate to a density of 2,363 persons per square kilometer, placing the suburb in the highest quartile among national areas monitored by Districts. The 11.1% growth rate since the 2021 census outpaced the state figure of 9.3% and the national benchmark, establishing the suburb as a regional growth leader. The primary driver of this growth was overseas migration, which accounted for approximately 86.0% of the overall population increases in recent times.

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The suburb of Albert Park (Vic.) has a highly educated workforce, with particularly strong representation in the technology sector, an unemployment rate of only 1.9%, and an estimated employment growth of 4.5% over the past year, according to Districts statistical area aggregations. As of March 2026, there are 3,923 working residents. The unemployment rate sits 2.8% below the Greater Melbourne average of 4.8%, while the labor force participation rate matches the Greater Melbourne level of 70.2%. Census data reveals that a high 53.8% of residents worked from home, though this figure should be interpreted in the context of COVID-19 restrictions.

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The suburb of Albert Park (Vic.) has a median taxpayer income of $73,352 and an average taxpayer income of $145,384, based on the latest postcode-level ATO data compiled by Districts for the financial year 2023. These figures are exceptionally high by national standards, contrasting with a median of $57,688 and an average of $75,164 across Greater Melbourne. Incorporating Wage Price Index growth of 9.62% since the financial year 2023, current estimates correspond to approximately $80,408 for median income and $159,370 for average income as of March 2026. Census figures from 2021 show that household, family, and personal incomes in the suburb rank between the 91st and 95th percentiles nationally. The largest income cohort consists of 35.8% of local residents (2,403 people) earning in the + category, differing from the wider metropolitan region where the - bracket is most common at . Economic strength is further demonstrated by the of households earning weekly incomes above supporting high consumer spending. High housing costs account for of income, though strong earnings ensure disposable income remains at the th percentile, and the SEIFA income index ranks the area in the th decile.

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The housing composition in the suburb of Albert Park (Vic.), as recorded in the latest Census, consisted of 18.9% detached houses and 81.1% other dwelling types including semi-detached properties, apartments, and alternative structures, compared to 67.9% houses and 32.1% other dwellings in metro Melbourne. Home ownership rates in the suburb reached 37.9%, with the remaining properties being held under a mortgage (24.4%) or rented (37.8%). The median monthly mortgage payment was significantly higher than the metro Melbourne average, standing at $3,500, while the median weekly rent was recorded at $590, compared to metro Melbourne figures of $2,000 and $390 respectively. Nationally, mortgage payments in the suburb are substantially higher than the Australian average of $1,863, and rents are also well above the national median of $375.

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Family households represent the majority of homes at 63.7%, consisting of couples with children at 28.1%, couples without children at 26.6%, and single parent families at 7.7%. Non-family households account for the remaining 36.3%, with single-person households representing 33.2% and group households making up 3.3%. The median household size of 2.2 people is below the Greater Melbourne average of 2.6.

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Educational qualifications in the suburb of Albert Park (Vic.) are substantially higher than broader averages, with 54.8% of residents aged 15+ holding a university degree, compared to 30.4% nationally and 33.4% across VIC. This academic profile positions the local population well for knowledge-intensive industries. Bachelor degrees are the most common qualification at 32.8%, followed by postgraduate degrees at 17.2% and graduate diplomas at 4.8%. Vocational education accounts for 17.9% of qualifications among residents aged 15+, which includes advanced diplomas at 9.0% and certificates at 8.9%.

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Public transport infrastructure includes 29 active stops in the suburb of Albert Park (Vic.), comprising light rail and bus services. These stops are serviced by 6 unique routes, which provide a total of 7,718 passenger trips per week. Transport access is rated as excellent, with residents living an average of 141 meters from the nearest stop. The suburb is primarily residential, with most working residents commuting to other areas. Private vehicles are the main transport mode at 70%, while 11% of residents walk and 5% cycle to work. Vehicle ownership averages 0.9 cars per household, below the regional metropolitan average. A high proportion of residents, 53.8%, work from home, based on 2021 Census data, which may reflect pandemic-related conditions.

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Health indicators demonstrate excellent outcomes in the suburb of Albert Park (Vic.), based on Districts' evaluation of mortality rates and chronic disease indicators, showing a very low occurrence of common health issues across all age brackets. Private health insurance coverage is exceptionally high, encompassing approximately 84% of the population (5,630 people), compared to 56.7% in Greater Melbourne and a national average of 55.7%.

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The suburb of Albert Park (Vic.) exhibits higher levels of cultural diversity than most local property markets, with 27.3% of residents born outside Australia and 18.8% speaking a non-English language at home. Christianity is the main religion, followed by 45.7% of the population. The most prominent religious overrepresentation is Judaism, which accounts for 0.7% of the population, compared to 1.0% across Greater Melbourne.

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The median age of 46 years in the suburb of Albert Park (Vic.) is higher than the Greater Melbourne average of 37 and the national median of 38. Compared to Greater Melbourne, the 55 - 64 age group is highly represented at 14.4%, whereas the 25 - 34 bracket is lower at 9.3%. Since the 2021 Census, the 15 to 24 cohort has increased from 8.8% to 11.1% of the population, and the 75 to 84 group grew from 7.9% to 9.1%, while the 5 to 14 cohort declined from 11.1% to 10.1%. Population projections for 2041 suggest demographic shifts, with the to cohort expected to rise by people () from to while the to age bracket shows minor growth of , adding only residents.

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Albert Park currently has an estimated 322 children under 5 years old, comprising approximately 147 children aged 0-2 and 98 children aged 3-4. This cohort grew by an estimated 1% since the previous census. while population forecasts indicate future growth, with an anticipated increase of 6% by 2041 (to approximately 342 children). Meanwhile the 5-12 cohort currently amounts to 420. Birth rates in the area have averaged 7.4 per 1,000 residents over the latest two-year period, a low rate (among the bottom 20% of areas assessed nationally). This rate has slowed down slightly in recent years however.