Carlton (Vic.)
VICCarlton (Vic.) is a growing suburb in VIC with 16,055 residents.
- SAL code
- 20495
- SA2
- 206041117
- Population
- 16,055
- LGA
- Melbourne
Carlton (Vic.), VIC had 16,055 residents at the 2021 Census, with the broader statistical area showing a 21.1% growth over the last five years. The predominant age group is 25-34 years, and the median age sits at 27. Households are most often couples without children, and those with a mortgage repay a median of $1,898 a month. Around 23.3% of homes are owner-occupied, with the largest single tenure being rented at 72.3%. Most dwellings are flats or apartments, making up 81.4% of the suburb's housing stock. The suburb has 23 parks and reserves mapped within its boundary. Source: ABS Census 2021 and Estimated Resident Population, with amenity counts from state Open Data and OpenStreetMap.
Suburb analysis
Carlton (Vic.), VIC at a glance
Carlton sits ~1-2 km north of the Melbourne CBD in the City of Melbourne, wrapped around the western and northern edges of the University of Melbourne. Victorian terraces sit alongside dense student-apartment towers, and Lygon Street still anchors the suburb's Italian-cafe identity. The data tiles below cover the demographic baseline; this card adds the live market + lifestyle + council context.
For homebuyers
Carlton is dense, walkable, and inner-city to its bones — Victorian terraces along Drummond and Rathdowne, mid-century walk-ups behind Lygon, and a heavy layer of student high-rises on the University of Melbourne edge. Lygon Street's Little Italy still defines the food scene, with Borsari's Corner and Argyle Square (Piazza Italia) the social heart, while Carlton Gardens and the World Heritage Royal Exhibition Building anchor the eastern flank. You'll walk to almost everything: Melbourne CBD is ~1-2 km south, trams 1, 6 and 96 run along Swanston, Lygon and Nicholson, and Melbourne Central Station is roughly 8 minutes door-to-door. Princes Park sits on the northern edge for a proper run loop. University of Melbourne and RMIT shape the daily rhythm — schools-by-name aren't the draw here; the campus precincts are. In short: a CBD-adjacent suburb where heritage streets, student towers, and a long-running Italian cafe culture all share the same grid.
For investors
Carlton is a split market: Victorian houses are scarce and expensive; high-density units dominate volume. Median house price ~$1.36-1.45m with ~80 sales over 12 months and ~46 days on market (htag / propertyvalue 2026). Median house rent ~$695/wk gives ~3.0-3.5% gross yield; units lean very differently — median ~$410k with rents around $550/wk lifting unit yields toward 8% (htag 2026). House capital growth has run negative the past 12 months (around -2%); SQM puts the suburb vacancy near 1.7%.
Strengths
- Vacancy ~1.7% (SQM late 2025) on a deep, university-anchored tenant pool — students, postgrads, hospital and CBD professionals.
- Unit yields materially higher than typical Melbourne inner-ring (~7-8% gross on ~$410k median per htag 2026) for cashflow-led investors.
- Walk-score 99 around Argyle Square; CBD ~8 min by tram or train means location risk is close to zero.
- Heritage-zoned terrace stock is genuinely scarce (~80 house sales/year), supporting long-term scarcity value.
Trade-offs
- House capital growth has been weak — around -2% over the past 12 months and negative on a 5-year window per propertyvalue.com.au (2026).
- House gross yield ~3.0-3.5% means terraces are a capital-growth bet, not a cashflow one.
- Unit market is dominated by purpose-built student towers — strata fees, body-corporate quality and resale liquidity vary widely; due diligence at the building level matters more than the suburb median.
- Days on market ~46 (htag 2026) is longer than the Melbourne metro average — buyers are selective on heritage stock and on tower condition.
What's coming
City of Melbourne runs a ~$280m/year capital works program. Carlton-specific items include CCTV across seven Lygon Street and Argyle Square locations, a $2.3m stormwater-harvesting project to drought-proof Princes Park (with State Government funding), Carlton Gardens footpath upgrades, and shaded seating along Drummond Street. Watch the council's capital works page for the 2025/26 budget detail.
Bottom line
For homebuyers: an inner-city suburb where heritage terraces, student towers, and Lygon Street coexist on the same grid. For investors: a scarce-house / dense-unit split — terraces are a long-hold scarcity play, units a yield play with building-level due diligence.
Population
?16,055
Suburb · Census 2021
5-Year Growth
+21.1%
3yr: +40.8% · 10yr: +33.1%
SA2 · 5yr
Household Income
$1,292/wk
Suburb · Census 2021 median
Median Age
27
Suburb · Census 2021
Socio-Economic Index
?3/10
SA2 · more disadvantaged
Unemployment
?6.7%
SA2 · Q4 2025
Schools
2
2 primary
Hospitals
?1
Within suburb
Childcare services
?10
7 long day, 2 OSHC, 1 family
Parks & green space
?23
Parks, reserves
Transport stops
?153
GTFS stops
Dwelling approvals
?696
Melbourne · Feb 2026
Median Weekly Rent
Based on rental bond lodgements recorded by the state government.
Median House Sale Price
Source: Valuer-General Victoria (suburb-level quarterly medians).
→ Calculate stamp duty on this suburb's median price→ Estimate mortgage repayments→ Calculate rental yield (price + median rent)
Safety & Crime
2025 Q4Reported incidents from VIC police. Offence rates may not reflect all crime.
Population over time — Carlton (SA2)
ABS publishes annual estimates only at SA2; Carlton (Vic.) suburb alone is ~16,055 (Census 2021).
Source: ABS ERP (latest release · 2025) · Census 2021. Numbers refreshed quarterly.
Growth at a Glance
Population grew from 9,529 to 25,267 over 24 years, averaging 4.1% per year.
Schools
2 in suburbSector
2 public
Type
2 primary
Total enrolment
577
Avg per school
289
Government school catchment
Catchment data is not yet available for VIC.
Source when available: Victorian Department of Education / Vicmap School Zones.
Profile
Census snapshot
Housing
Public housing 9.2%Almost entirely apartments (81.4%), rental-heavy (72.3% renting), built for families (50% are 2 bed).
Dwelling mix
Tenure
VIC 29%
Number of bedrooms
Bushfire risk
This suburb falls outside every bushfire polygon mapped by the relevant authority. Always confirm at the property address — local conditions and unmapped overlays can still apply.
Overlap is the percentage of the suburb's land area inside the mapped bushfire polygons. Always verify the exact property address with the relevant authority before making decisions. Source when available: Vicmap Planning — Bushfire Prone Area + Vicmap flood overlays.
Flood risk
Source: VIC DTP Vicmap Planning Overlay (flood codes)
As of Apr 2026
Overlap is the percentage of the suburb's land area inside the mapped flood polygons. Always verify the exact property address with the relevant authority before making decisions.
Planning zones
14 zones in suburb| Code | Zone | % covered | Area |
|---|---|---|---|
| MUZ | Mixed Use ZoneResidential | 18.8% | 0.33 km² |
| GRZ1 | General Residential Zone Schedule 1Residential | 16.9% | 0.30 km² |
| PPRZ | Public Park and Recreation ZoneRecreation | 12.7% | 0.23 km² |
| CCZ5 | CCZ5Business | 12.1% | 0.21 km² |
| NRZ3 | Neighbourhood Residential Zone Schedule 3Residential | 11.3% | 0.20 km² |
| C1Z | Commercial 1 ZoneBusiness | 7.4% | 0.13 km² |
| RGZ1 | Residential Growth Zone Schedule 1Residential | 6.4% | 0.11 km² |
| PUZ7 | Public Use Zone Schedule 7Special use | 5.4% | 0.10 km² |
| TRZ2 | TRZ2Special use | 4.1% | 0.07 km² |
| CDZ2 | Comprehensive Development Zone Schedule 2Business | 1.6% | 0.03 km² |
| PUZ3 | Public Use Zone Schedule 3Special use | 1.1% | 0.02 km² |
| PUZ2 | Public Use Zone Schedule 2Special use | 1.1% | 0.02 km² |
| CCZ6 | CCZ6Business | 0.7% | 0.01 km² |
| PUZ6 | Public Use Zone Schedule 6Special use | 0.3% | 5,836 m² |
Source: VIC DTP Vicmap Planning Zones (ZONE_VIC/2026-04-29/08783d2926383881) · As of Apr 2026. Zone boundaries are amended periodically; verify the exact property with the relevant council before relying on permitted use.