Elwood
VICElwood is a stable suburb in VIC with 15,153 residents.
- SAL code
- 20867
- SA2
- 206051129
- Population
- 15,153
- LGA
- Port Phillip
Elwood, VIC had 15,153 residents at the 2021 Census, with the broader statistical area showing a 0.8% growth over the last five years. The predominant age group is 25-34 years, and the median age sits at 38. Households are most often couples without children, and those with a mortgage repay a median of $2,300 a month. Around 46.9% of homes are owner-occupied, with the largest single tenure being rented at 51.4%. Most dwellings are flats or apartments, making up 72.2% of the suburb's housing stock. The suburb has 13 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
Elwood, VIC at a glance
Elwood is a bayside inner-south suburb ~8 km south-east of Melbourne CBD in the City of Port Phillip, sitting between St Kilda and Brighton on Port Phillip Bay. Housing stock leans heavily on interwar art deco apartments, Edwardian cottages and pockets of Victorian mansions, with a tightly held cafe-and-beach lifestyle pattern. The data tiles below cover the demographic baseline; this card adds the live market, lifestyle, and council context they don't.
For homebuyers
Elwood reads as a walkable bayside village with a stronger renter and apartment skew than its neighbours. Ormond Road carries the cafe and small-bar strip; Elwood Beach and the foreshore reserve handle the weekend rhythm (swimming, sailing, the bay trail down to Brighton). Housing splits between art deco walk-up flats (a defining streetscape), Edwardian and Victorian cottages on the leafier blocks east of Glen Huntly Road, and a thinner band of family houses near Elsternwick Park. The closest train is Ripponlea on the Sandringham line (~15 min walk); trams 67 and 96 connect to the CBD in ~25-30 min. Elwood Primary and Elwood College are the local in-zone options; St Kilda Park PS sits just over the boundary. In short: a coastal-village inner-suburb pick if you'll trade backyard size for cafes, beach access, and a short tram into town.
For investors
Elwood is a unit-led market with house-side weakness and a tight rental floor. Median house ~$2.10M against a ~2.40-2.87% gross yield (propertyvalue.com.au / htag.com.au, April 2026); houses have run -3.67% over 12 months. Units median ~$650k at $590/wk = ~4.54% gross yield, with 376 unit sales in the past 12 months and ~29-32 days on market (htag, Jan 2026). Vacancy ~1.0% supports rental stability (htag, 2026).
Strengths
- Tight rental market with vacancy ~1.0% and unit days-on-market ~29-32 (htag April 2026).
- Deep, liquid unit segment — 376 unit sales in 12 months gives a real exit path (htag Jan 2026).
- Coastal-village location with Port Phillip Bay frontage and tram-67/96 CBD access — durable tenant demand.
- Unit yields ~4.54% are competitive for an inner-Melbourne bayside postcode (propertyvalue.com.au 2026).
Trade-offs
- House values down ~3.67% over the 12 months to early 2026 — entry-price re-rating risk on freestanding stock (propertyvalue.com.au 2026).
- House gross yield ~2.40-2.87% — negative-gearing territory at current rates (htag April 2026).
- Older art deco walk-up apartment stock carries OC, compliance and works-fund exposure (no lift, ageing services).
- Flood overlay exposure in the Elwood Canal / Main Drain catchment is well-documented; Melbourne Water's drain duplication is responding to historic flooding events.
What's coming
Melbourne Water's Elwood Main Drain Duplication is the headline project — designed to lift drainage capacity and reduce flood impact, with Elwood Croquet Club and Head Street A/B sportsgrounds closed for the build and new designs out for community input in 2026. The City of Port Phillip is also progressing the Elwood Foreshore Masterplan (>$10M of foreshore-asset renewal), Clarke Reserve upgrades and the Elwood Children's Centre refresh.
Bottom line
For homebuyers: a bayside village trade — apartments and cafes over backyards, with a short tram to town. For investors: units carry the yield and the volume; houses are softening and read as a long-hold land play.
Population
?15,153
Suburb · Census 2021
5-Year Growth
+0.8%
3yr: +8.2% · 10yr: -0.6%
SA2 · 5yr
Household Income
$2,096/wk
Suburb · Census 2021 median
Median Age
38
Suburb · Census 2021
Socio-Economic Index
?9/10
SA2 · least disadvantaged
Unemployment
?4.1%
SA2 · Q4 2025
Schools
4
3 primary, 2 secondary
Hospitals
No data for this suburb
Childcare services
?8
5 long day, 3 OSHC
Parks & green space
?13
Parks, reserves
Transport stops
?48
GTFS stops
Dwelling approvals
?236
Port Phillip · 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 — Elwood (SA2)
ABS publishes annual estimates only at SA2; Elwood suburb alone is ~15,153 (Census 2021).
Source: ABS ERP (latest release · 2025) · Census 2021. Numbers refreshed quarterly.
Growth at a Glance
Population grew from 13,342 to 16,056 over 24 years, averaging 0.8% per year.
Schools
4 in suburbSector
2 public · 2 private
Type
2 primary · 1 secondary · 1 K-12
Total enrolment
1,886
Avg per school
472
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 1.1%Predominantly apartments (72.2%), rental-heavy (51.4% 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
11 zones in suburb| Code | Zone | % covered | Area |
|---|---|---|---|
| GRZ1 | General Residential Zone Schedule 1Residential | 31.7% | 0.82 km² |
| NRZ5 | Neighbourhood Residential Zone Schedule 5Residential | 25.6% | 0.67 km² |
| NRZ6 | Neighbourhood Residential Zone Schedule 6Residential | 15.0% | 0.39 km² |
| PPRZ | Public Park and Recreation ZoneRecreation | 12.9% | 0.33 km² |
| TRZ2 | TRZ2Special use | 6.4% | 0.17 km² |
| RGZ1 | Residential Growth Zone Schedule 1Residential | 2.3% | 0.06 km² |
| PUZ2 | Public Use Zone Schedule 2Special use | 2.3% | 0.06 km² |
| C1Z | Commercial 1 ZoneBusiness | 2.3% | 0.06 km² |
| PUZ1 | Public Use Zone Schedule 1Special use | 1.0% | 0.02 km² |
| SUZ4 | Special Use Zone Schedule 4Special use | 0.5% | 0.01 km² |
| NRZ1 | Neighbourhood Residential Zone Schedule 1Residential | 0.1% | 3,517 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.