Albert Park Residents Examine Employment, Income, and Housing Figures

Albert Park residents are examining the suburb's economic indicators, including a 2.8 per cent unemployment rate and 6.6 per cent employment growth recorded as of June 2025. These figures sit alongside a median weekly household income of $2,533 and place the area more socio-economically advantaged than 98 per cent of Australian suburbs.

Employment and Income Patterns

The local economy draws strength from professional services, health care and finance industries. Median taxpayer income stands at $81,920 with an average of $162,365 as of March 2025, keeping Albert Park in the top 10 per cent nationally for income strength. Community members note that steady employment growth has supported household budgets even as living costs remain elevated.

Housing Market Indicators

Median house prices reach $2,467,500 with annual growth of 5.7 per cent, while weekly rents average $995. Median unit prices sit at $933,500 after 14.5 per cent annual growth, with weekly rents at $630. Residents describe these values as central to decisions about staying in the suburb or relocating, given the high population density of 3,692 persons per square kilometre.

Population and Migration Context

Albert Park recorded 9.0 per cent population growth since 2021 and now has 6,044 residents. Overseas migration accounts for 86.1 per cent of recent population gains. Community discussions often turn to how these inflows interact with employment opportunities in the professional and health sectors.

The combination of low unemployment, rising property values and strong income levels continues to influence daily choices for households. Local observers suggest monitoring updates from the Australian Bureau of Statistics and area economic reports for any shifts in these measures.