Ultimo (NSW)

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According to evaluations of ABS population updates for the wider region and fresh addresses verified by Districts after the Census, the suburb of Ultimo has a population calculated at approximately 10,534 as of May 2026. This indicates a growth of 3,124 people (42.2%) compared to the 2021 Census, which recorded 7,410 residents. This shift is determined from the resident population of 10,534, calculated by Districts using the most recent ABS ERP statistics (June 2025) and post-Census address verification. Such a population size results in a density of 18,810 persons per square kilometer, placing the locality in the top 10% of all areas evaluated by Districts and highlighting local land as an extremely coveted asset. The 42.2% expansion in the suburb of Ultimo since the 2021 census outstripped the state increase (7.1%) and Greater Sydney, establishing it as a regional growth leader. The expansion of the suburb of Ultimo was mostly fueled by arrivals from abroad, who accounted for roughly 97.0% of the total demographic growth in recent times.

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Ultimo possesses a highly qualified workforce, with the tech sector showing notably strong representation, an unemployment rate of only 2.4%, and an estimated job growth of 1.7% over the preceding year, according to Districts regional data. In March 2026, there are 6,237 employed residents, and the unemployment rate is 1.8% lower than the Greater Sydney mark of 4.1%, while workforce participation is considerably lower (63.9% versus 69.1% in Greater Sydney). Census returns indicate that a high 47.8% of the workforce operated from home, though this may have been influenced by COVID-19 restriction periods.

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According to the most recent postcode level ATO statistics published for financial year 2023, the suburb of Ultimo has a median taxpayer income of $41,108, alongside an average of $61,333. This stands below the national benchmark, and compares to a median of $60,817 and an average of $83,003 in Greater Sydney. Accounting for Wage Price Index growth of 10.32% since financial year 2023, current projections point to approximately $45,350 (median) and $67,663 (average) as of March 2026. Based on 2021 Census data, household, family, and individual incomes are all relatively modest in Ultimo, falling between the 43rd and 53rd percentiles. In terms of distribution, the $1,500 - 2,999 weekly income bracket contains 32.7% of the population (3,444 individuals), which matches the broader region where this segment comprises . Financial pressure from housing is high, leaving residents with only of their income, which ranks in the rd percentile, while the SEIFA index places the area in the th decile for income.

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The mix of housing in Ultimo at the most recent Census was 0.2% standalone houses and 99.8% alternative dwellings (such as semi-detached properties, apartments, and other housing types), compared to the Sydney metro split of 55.9% houses and 44.1% alternative dwellings. Furthermore, the level of home ownership in Ultimo was below the Sydney metro level at 13.2%, with the rest of the properties being mortgaged (13.4%) or occupied by tenants (73.4%). The median monthly mortgage payment locally was higher than the Sydney metro average at $2,500, while the median weekly rent was $500, compared to Sydney metro levels of $2,427 and $470. On a national scale, mortgage costs in Ultimo are much 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 largest share at 45.4% of the total, consisting of 10.5% couples with children, 27.1% couples without children, and 5.1% single parents. Non-family households account for the remaining 54.6%, with single-person households at 36.6% and shared group households making up 18.1% of the total. The median household size of 2.1 residents is smaller than the Greater Sydney average of 2.7.

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Level of education in Ultimo is much higher than the broader averages, with 57.2% of residents aged 15+ holding a university degree, compared to 30.4% across Australia and 32.2% in NSW. This major educational lead leaves the locality well placed for knowledge-sector opportunities. Bachelor degrees are the most common at 36.1%, followed by postgraduate degrees (18.9%) and graduate diplomas (2.2%). Vocational training represents 19.6% of qualifications for those aged 15+ – consisting of advanced diplomas (12.0%) and certificates (7.6%).

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Analysis of public transit options indicates 14 active stops operating in Ultimo, consisting of various bus options. These transit points are serviced by 34 separate routes, which combine to support 10,627 passenger trips per week. Transit access is classified as excellent, with residents generally living 136 meters from the nearest stop. Because the suburb is mostly residential, the majority of workers commute to other areas, with walking being highly popular at 26%, and 22% using trains. Vehicle ownership stands at an average of 0.2 per home, below the metropolitan average. A high 47.8% of residents worked from home (2021 Census; this may reflect COVID-19 trends).

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Health metrics show excellent outcomes throughout Ultimo, according to Districts analysis of mortality statistics and chronic illness rates, which indicates very low levels of common health issues across all age brackets, while the rate of private health insurance is relatively low at about 51% of the population (~5,394 people). This compares to 59.9% across Greater Sydney.

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Ultimo ranks among the most multicultural communities in the nation, with 62.7% of residents speaking a non-English language at home and 71.2% born outside Australia. Christianity is the main religion, practiced by 22.2% of local residents. However, the most notable variation is in Buddhism, which is followed by 13.9% of the population, a level much higher than the Greater Sydney average of 4.1%.

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With a median age of 27 years, Ultimo is significantly younger than the Greater Sydney average of 37 and the national average of 38 years. Compared to Greater Sydney, Ultimo has a larger share of residents aged 25 - 34 (37.8%) but fewer children aged 5 - 14 (2.9%). This concentration of 25 - 34 year-olds is much higher than the national share of 14.6%. Since the 2021 Census, the local population has grown younger, with the median age dropping 3.1 years from 30 to 27. In particular, the 15 to 24 age bracket rose from 20.6% to 30.8% of the population, while the 25 to group increased from to . In contrast, the to age bracket fell from to and the to cohort decreased from to . Demographic projections show that the age profile in Ultimo will change considerably by . The to age group is expected to grow significantly, increasing by people () from to . On the other hand, the to group is projected to shrink by people.

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Ultimo currently has an estimated 221 children under 5 years old, comprising approximately 133 children aged 0-2 and 88 children aged 3-4. This cohort declined by an estimated 0% since the previous census. though population forecasts indicate future growth, with an anticipated increase of 54% by 2041 (to approximately 340 children). Meanwhile the 5-12 cohort currently amounts to 240. Birth rates in the area have averaged 5.3 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.