Richmond (Vic.)
VICRichmond (Vic.) is a stable suburb in VIC with 28,587 residents.
- SAL code
- 22170
- SA2
- 206071517
- Population
- 28,587
- LGA
- Yarra
Richmond (Vic.), VIC had 28,587 residents at the 2021 Census, with the broader statistical area showing a 1.6% growth over the last five years. The predominant age group is 25-34 years, and the median age sits at 34. Households are most often couples without children, and those with a mortgage repay a median of $2,292 a month. Around 43.0% of homes are owner-occupied, with the largest single tenure being rented at 54.7%. Most dwellings are flats or apartments, making up 53.4% of the suburb's housing stock. The suburb has 30 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
Richmond (Vic.), VIC at a glance
Richmond is an inner-east Melbourne suburb ~3 km from the CBD in the City of Yarra. The fabric is mixed: Victorian terraces in the back streets, public-housing high-rises near the Yarra, converted warehouses on the old industrial blocks, and a steady stream of new apartments along Bridge Road and Victoria Street. The data tiles below cover the demographic baseline; this card adds the live market and council context.
For homebuyers
Richmond rewards people who want to walk to almost everything. The MCG and AAMI Park are a 15-minute stroll across Punt Road; the CBD is two stops on the Lilydale/Belgrave/Alamein lines from any of five stations (Richmond, East Richmond, West Richmond, Burnley, North Richmond). Trams run along Bridge Road, Swan Street, Victoria Street and Church Street. Swan Street is the hospo strip; Victoria Street's "Little Saigon" is the Vietnamese food anchor; Bridge Road is in a slow retail recovery. Schools include Richmond West Primary, Richmond High School (opened 2018) and Trinity Catholic. The Yarra River and Burnley Park sit at the eastern edge for green space; Citizens Park anchors local sport. In short: dense, walkable, food-and-sport-obsessed inner-east living with the trade-off of traffic, noise and a mixed dwelling stock.
For investors
Richmond is a unit-led yield story sitting underneath a soft house cycle. Median house $1,367,500 against $855/wk rent gives a 3.24% gross yield; units $620,000 / $600/wk = 5.12% (htag March 2026). 12-month growth: houses -1.97%, units +1.06%; quarterly houses -2.32%. Vacancy is tight at 0.78%. Days-on-market sit at 26 (houses and units). Volume is deep — 299 house sales and 437 unit sales over the past 12 months.
Strengths
- Tight vacancy (~0.78%) with deep tenant demand from young professionals and students near the CBD, the MCG precinct and the Epworth/Richmond hospital cluster.
- High-volume unit market (~437 sales/yr) makes entry, exit and re-leasing straightforward.
- Unit yields ~5.12% (htag March 2026) are unusually strong for an inner Melbourne postcode.
- Five train stations and four tram routes: walk-up infrastructure that doesn't need council to build.
Trade-offs
- House capital growth has gone backwards over the past 12 months (-1.97%) and quarter (-2.32%, htag March 2026) — this is not a rising-tide market right now.
- Yield on houses (~3.24%) is structurally low; the cashflow case lives in units, not freestanding stock.
- Heavy unit pipeline along Bridge Road and Victoria Street keeps rental supply replenished — a brake on rent growth even with sub-1% vacancy.
- Mixed streetscape (heritage terraces next to public-housing towers next to new apartments) means tenant-quality and resale outcomes vary block by block.
What's coming
City of Yarra's 2025/26 Capital Works program is its largest ever at $35.3M, scaling to $49M by 2028/29. Richmond-specific items include design work on a new sports pavilion, Richmond Recreation Centre upgrades, $2.2M for new pedestrian crossings across the inner suburbs, and $4.26M for stormwater drainage. Transport Victoria resurfaced the Bridge Road tram corridor (Punt to Church) over April 2026. Amendment C291 continues to shape Bridge Road and Victoria Street built-form controls.
Bottom line
For homebuyers: walkable inner-east Melbourne with food, sport and transport on the doorstep; pick your block carefully. For investors: a unit-yield + tight-vacancy play sitting through a soft house cycle.
Population
?28,587
Suburb · Census 2021
5-Year Growth
+1.6%
3yr: +8.2% · 10yr: +7.0%
SA2 · 5yr
Household Income
$2,245/wk
Suburb · Census 2021 median
Median Age
34
Suburb · Census 2021
Socio-Economic Index
?10/10
SA2 · least disadvantaged
Unemployment
?3.1%
SA2 · Q4 2025
Schools
9
4 primary, 4 secondary
Hospitals
No data for this suburb
Childcare services
?18
12 long day, 4 OSHC
Parks & green space
?30
Parks, reserves
Transport stops
?41
GTFS stops
Dwelling approvals
?4
Yarra · 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 — Richmond (South) - Cremorne (SA2)
ABS publishes annual estimates only at SA2; Richmond (Vic.) suburb alone is ~28,587 (Census 2021).
Source: ABS ERP (latest release · 2025) · Census 2021. Numbers refreshed quarterly.
Growth at a Glance
Population grew from 14,216 to 19,225 over 24 years, averaging 1.3% per year.
Schools
8 in suburbSector
6 public · 2 private
Type
4 primary · 4 secondary
Total enrolment
3,196
Avg per school
400
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 8.1%Predominantly apartments (53.4%), rental-heavy (54.7% renting), built for families (45% 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
20 zones in suburb| Code | Zone | % covered | Area |
|---|---|---|---|
| GRZ2 | General Residential Zone Schedule 2Residential | 27.2% | 1.21 km² |
| NRZ1 | Neighbourhood Residential Zone Schedule 1Residential | 22.9% | 1.02 km² |
| C1Z | Commercial 1 ZoneBusiness | 9.4% | 0.42 km² |
| TRZ2 | TRZ2Special use | 5.9% | 0.26 km² |
| PPRZ | Public Park and Recreation ZoneRecreation | 5.8% | 0.25 km² |
| GRZ3 | General Residential Zone Schedule 3Residential | 5.3% | 0.24 km² |
| MUZ | Mixed Use ZoneResidential | 5.3% | 0.23 km² |
| C2Z | Commercial 2 ZoneBusiness | 3.9% | 0.17 km² |
| CDZ1 | Comprehensive Development Zone Schedule 1Business | 3.1% | 0.14 km² |
| IN3Z | Industrial 3 ZoneIndustrial | 2.6% | 0.12 km² |
| IN1Z | Industrial 1 ZoneIndustrial | 2.3% | 0.10 km² |
| TRZ1 | TRZ1Special use | 1.6% | 0.07 km² |
| GRZ4 | General Residential Zone Schedule 4Residential | 1.6% | 0.07 km² |
| PUZ2 | Public Use Zone Schedule 2Special use | 1.2% | 0.05 km² |
| PUZ1 | Public Use Zone Schedule 1Special use | 0.8% | 0.03 km² |
| SUZ5 | Special Use Zone Schedule 5Special use | 0.5% | 0.02 km² |
| GRZ1 | General Residential Zone Schedule 1Residential | 0.2% | 6,705 m² |
| PUZ6 | Public Use Zone Schedule 6Special use | 0.1% | 5,750 m² |
| PUZ3 | Public Use Zone Schedule 3Special use | 0.1% | 5,144 m² |
| PUZ7 | Public Use Zone Schedule 7Special use | 0.1% | 4,694 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.