Prahran (Vic.)

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According to ABS demographic updates for the wider region and recent address information verified by Districts since the Census, the suburb of Prahran has an estimated population of 13,871 as of May 2026. This indicates a growth of 1,668 people (13.7%) from the 2021 Census, which documented a population of 12,203 people. This trend is derived from a resident population of 13,867, calculated by Districts using the latest ERP data release from the ABS (June 2025) along with 653 validated new addresses registered since the Census date. Such population levels result in a density ratio of 7,457 persons per square kilometer, placing the locality within the top 10% of all national areas evaluated by Districts, which highlights local land as a highly coveted resource. The 13.7% expansion rate since the 2021 census outpaced the state figure (9.3%) and the national benchmark, positioning the area as a regional growth frontrunner. The population gains were mostly fueled by overseas migration, which accounted for approximately of the overall increase during recent times.

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The suburb of Prahran is home to a highly qualified workforce, with the technology sector exceptionally well represented. The area recorded an unemployment rate of 4.2% and estimated employment growth of 4.6% over the preceding year, according to Districts aggregations of statistical area datasets. In March 2026, there were 10,223 employed residents, with the local unemployment rate sitting 0.6% lower than Greater Melbourne's rate of 4.8%. Workforce participation is remarkably high at 82.7%, compared to the Greater Melbourne average of 70.2%. Census data reveals that a substantial 50.8% of the local workforce worked from home, though this figure was likely influenced by Covid-19 restrictions.

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The latest postcode-level ATO data for the financial year 2023 shows that incomes in the suburb of Prahran are exceptionally high compared to the rest of the nation, with a median of $72,576 and an average of $107,767. This stands in contrast to Greater Melbourne, where the median income is $57,688 and the average is $75,164. Adjusting for a Wage Price Index increase of 9.62% since financial year 2023 yields estimated values of approximately $79,558 (median) and $118,134 (average) as of March 2026. According to the 2021 Census, individual weekly earnings are in the 96th percentile nationally, sitting at $1,378. Income distribution data indicates the largest cohort consists of 33.2% of residents (4,605 people) earning in the $1,500 - range, which align with metropolitan trends showing of people in this bracket. A significant proportion of high-earning residents ( earning over /week) points to robust economic capacity in the area. High housing costs account for of earnings, yet strong wages keep disposable income in the nd percentile, placing the local SEIFA income rank in the th decile.

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At the time of the latest Census, residential properties in the suburb of Prahran consisted of 18.3% houses and 81.6% other dwelling types, including semi-detached options, apartments, and alternative structures. This differs from the Melbourne metropolitan average, where houses make up 67.9% of dwellings and other structures constitute 32.1%. The rate of home ownership was lower than the metropolitan average at 20.2%, with the remaining properties occupied by residents with a mortgage (24.5%) or renting (55.3%). The median monthly mortgage payment in the area was recorded at $2,274, while the median weekly rent stood at $421, compared to Melbourne metropolitan figures of $2,000 and $390. On a national scale, mortgage payments are higher than the Australian average of $1,863, and weekly rents are above the national benchmark of $375.

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Families make up 44.2% of all households in the suburb of Prahran, consisting of 12.5% couples with children, 25.9% couples without children, and 4.5% single-parent households. Non-family households account for the remaining 55.8%, with single-person households representing 45.5% and group households making up 10.2%. The median household size is 1.8 people, which is smaller than the Greater Melbourne average of 2.6.

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The level of education in the suburb of Prahran is significantly higher than broader geographical averages, with 59.7% of residents aged 15+ holding university degrees, compared to 30.4% in Australia and 33.4% in VIC. This educational pattern positions the area well for knowledge-intensive industries. Bachelor degrees are the most common qualification at 40.4%, followed by postgraduate degrees (14.7%) and graduate diplomas (4.6%). Vocational training accounts for 18.6% of qualifications for those aged 15+, consisting of advanced diplomas (9.7%) and certificates (8.9%).

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Public transport connectivity in the suburb of Prahran includes 53 active transit stops, comprising bus and lightrail options. These stops accommodate 10 separate routes that support 9,319 passenger trips weekly. Accessibility is high, with residents living an average of 133 meters from the nearest stop. Due to the area's residential nature, most workers commute out of the area. Private vehicles remain the primary mode of travel at 54%, followed by walking at 14% and train travel at 14%. Average vehicle ownership is 0.5 per household, which is lower than the regional average. A high proportion of residents, 50.8%, worked from home, according to the 2021 Census, which may reflect the impact of pandemic lockdowns.

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Health indicators demonstrate positive results across the suburb of Prahran, as shown by Districts' evaluation of mortality rates and chronic health conditions, which reveal low rates of common illnesses across all age groups. Additionally, private health insurance coverage is high, encompassing roughly 69% of the population (9,600 people). This is higher than the Greater Melbourne average of 56.7% and the national benchmark of 55.7%.

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The suburb of Prahran displays greater cultural diversity than most comparable markets, with 20.4% of residents speaking a language other than English at home and 33.1% born outside Australia. Christianity is the most common religious affiliation, representing 34.8% of the population. The most distinct divergence is the representation of Judaism, which accounts for 3.5% of residents, compared to 1.0% across Greater Melbourne.

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With a median age of 33, the suburb of Prahran has a younger demographic profile than Greater Melbourne's median of 37 and the national median of 38 years. Compared to Greater Melbourne, there is a higher proportion of residents aged 25 - 34 (33.8%) but a smaller proportion of children aged 5 - 14 (4.2%). The concentration of residents aged 25 - 34 is higher than the national average of 14.6%. The median age dropped from 34 to 33 since the 2021 Census, showing a shift toward a younger population. The 25 to 34 age bracket increased from 31.2% to 33.8% of the population, while the 15 to 24 cohort decreased from to , and the to cohort fell from to . Demographic projections suggest further changes by with the to age group expected to grow by people () from to while the to age bracket is projected to decrease by .

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Prahran currently has an estimated 527 children under 5 years old, comprising approximately 273 children aged 0-2 and 181 children aged 3-4. This cohort grew by an estimated 5% since the previous census. while population forecasts indicate future growth, with an anticipated increase of 14% by 2041 (to approximately 599 children). Meanwhile the 5-12 cohort currently amounts to 424. While growth has been positive birth rates observed in the area have been low, with approximately 8.3 births per 1,000 residents recorded over the latest two-year period analysed which ranks the area among the bottom 30% of areas assessed nationally. This rate has slowed down slightly in recent years however.