Melbourne
VICMelbourne is a growing suburb in VIC with 54,941 residents.
- SAL code
- 21640
- SA2
- 206041503
- Population
- 54,941
- LGA
- Melbourne
Melbourne, VIC had 54,941 residents at the 2021 Census, with the broader statistical area showing a 15.6% growth over the last five years. The predominant age group is 25-34 years, and the median age sits at 29. Households are most often couples without children, and those with a mortgage repay a median of $1,800 a month. Around 25.8% of homes are owner-occupied, with the largest single tenure being rented at 71.0%. Most dwellings are flats or apartments, making up 99.7% of the suburb's housing stock. The suburb has 61 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
Melbourne, VIC at a glance
Melbourne (SAL 21640) is the Hoddle Grid itself — the 1.6 by 0.8 km central core surveyed by Robert Hoddle in 1837, not Greater Melbourne. Stock is overwhelmingly apartments in mid- and high-rise towers, with a sliver of heritage warehouse conversions and townhouses. The resident base is international students, young professionals and downsizers; commute is by definition zero. The data tiles below cover the demographic baseline; this card adds the live market, lifestyle and council-pipeline context.
For homebuyers
Buying here means buying an apartment — the CBD's residential stock is almost entirely strata, with a handful of heritage warehouse conversions and laneway townhouses making up the rest. Character is the laneway-and-arcade Melbourne people picture: Hoddle Grid blocks, Chinatown on Little Bourke, Federation Square and the Yarra a short walk south. RMIT's main campus sits on Swanston Street and Melbourne Uni is one tram stop north in Carlton, which shapes both the cafe density and the rental cohort you'll live alongside. The new State Library Station opened on 30 November 2025 and full Metro Tunnel service began 1 February 2026, cutting up to 15 minutes off Sunbury-line trips into the city (Transport Victoria). Greenline Stage 1 at Birrarung Marr — 450 m of new boardwalk and promenade — completed late 2025 (City of Melbourne). In short: city-living trade-offs are real (no backyard, body-corp fees, building-quality lottery), but you trade them for everything-on-foot and the country's deepest transport node.
For investors
CBD economics are apartment economics. Median unit sale $410,000 with median rent $672/week implies a gross yield around 8.0% (Your Investment Property, 12 months to Jan 2026), though buyers should sense-check that figure against strata + owners-corp costs. 12-month unit price growth -2.38%, quarterly flat, days-on-market 47, and a deep 1,243 unit sales over the year. Metro Melbourne vacancy was 1.7% in January 2026 (SQM Research); the inner-city precinct sits a touch higher at ~2.4% (Nov 2025).
Strengths
- Headline gross yield ~8.0% on units (YIP May 2026) — well above the Melbourne metro median.
- Deep, liquid market: 1,243 unit sales in 12 months gives easy entry and exit.
- Tenant demand anchored by RMIT, Melbourne Uni and CBD employment, projected to grow 13% in the five years to 2028 (Urban Property Australia Q4 2025).
- Metro Tunnel + State Library Station (opened Nov 2025) lifted the catchment's effective transport reach without changing the postcode.
Trade-offs
- Capital growth has lagged: -2.38% over 12 months and 0.00% for the quarter (YIP, Jan 2026) — yield is doing the work, not appreciation.
- 47 days-on-market for units is well above the metro 30-day median (Cotality March 2026); apartment stock is slow-moving compared with houses.
- Building-quality variance is high — flammable cladding remediation, defect history and high owners-corp levies all sit in the due-diligence bucket here more than in any other suburb.
- Headline 8% yield is gross; strata + sinking-fund + management costs in CBD towers compress net returns materially.
What's coming
City of Melbourne's 2025-26 Budget is $732.4M. Queen Victoria Market Precinct Renewal has a $60M tranche this year inside the broader $250M program (new Trader Shed, Franklin Street streetscape). Greenline Stage 1 at Birrarung Marr completed late 2025; further stages along the Yarra north bank continue. The Franklin Street upgrade also forms the pedestrian spine linking the new State Library Station to QVM.
Bottom line
For homebuyers: an apartment-only market with the country's deepest transport and amenity stack, if strata living suits. For investors: a yield + liquidity play with weak recent capital growth and serious building-quality due diligence ahead of any purchase.
Population
?54,941
Suburb · Census 2021
5-Year Growth
+15.6%
3yr: +34.2% · 10yr: +29.1%
SA2 · 5yr
Household Income
$1,448/wk
Suburb · Census 2021 median
Median Age
29
Suburb · Census 2021
Socio-Economic Index
?5/10
SA2 · middle-range
Unemployment
?2.7%
SA2 · Q4 2025
Schools
7
2 primary, 5 secondary
Hospitals
?2
Within suburb
Childcare services
?11
10 long day, 3 OSHC
Parks & green space
?61
Parks, reserves
Transport stops
?161
GTFS stops
Dwelling approvals
?696
Melbourne · Feb 2026
Median House Sale Price
No data for this suburb
VGV suppresses suburbs with too few sales per quarter
Safety & Crime
2025 Q4Reported incidents from VIC police. Offence rates may not reflect all crime.
Population over time — Melbourne CBD - East (SA2)
ABS publishes annual estimates only at SA2; Melbourne suburb alone is ~54,941 (Census 2021).
Source: ABS ERP (latest release · 2025) · Census 2021. Numbers refreshed quarterly.
Growth at a Glance
Population grew from 3,997 to 14,266 over 24 years, averaging 5.4% per year.
Schools
7 in suburbSector
2 public · 5 private
Type
3 secondary · 2 K-12 · 2 special
Total enrolment
6,753
Avg per school
965
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 0.1%Almost entirely apartments (99.7%), rental-heavy (71% renting), built for families (56% 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
16 zones in suburb| Code | Zone | % covered | Area |
|---|---|---|---|
| PPRZ | Public Park and Recreation ZoneRecreation | 36.9% | 2.43 km² |
| CCZ1 | CCZ1Business | 28.3% | 1.86 km² |
| TRZ2 | TRZ2Special use | 8.5% | 0.56 km² |
| C1Z | Commercial 1 ZoneBusiness | 6.6% | 0.44 km² |
| CCZ2 | CCZ2Business | 5.6% | 0.37 km² |
| SUZ3 | Special Use Zone Schedule 3Special use | 2.9% | 0.19 km² |
| PUZ7 | Public Use Zone Schedule 7Special use | 2.3% | 0.15 km² |
| TRZ1 | TRZ1Special use | 2.2% | 0.15 km² |
| PUZ3 | Public Use Zone Schedule 3Special use | 1.8% | 0.12 km² |
| RGZ1 | Residential Growth Zone Schedule 1Residential | 1.7% | 0.12 km² |
| CCZ5 | CCZ5Business | 0.8% | 0.05 km² |
| PUZ2 | Public Use Zone Schedule 2Special use | 0.8% | 0.05 km² |
| MUZ | Mixed Use ZoneResidential | 0.8% | 0.05 km² |
| GRZ1 | General Residential Zone Schedule 1Residential | 0.3% | 0.02 km² |
| GRZ5 | General Residential Zone Schedule 5Residential | 0.3% | 0.02 km² |
| TRZ3 | TRZ3Special use | 0.1% | 9,880 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.