ABS 2021 Census · Updated 31 March 2026
Elwood is an outer-metropolitan suburb of Melbourne, Australia, with a population of approximately 15,153, making it a smaller community. Located approximately 8 km from the Melbourne CBD, Elwood is a outer metro area in Victoria. The median household income is $108,992 AUD per year (ABS 2021 Census).
Strong household incomes in Elwood underpin solid property demand. Close CBD access strengthens tenant appeal and resale value.
Map shows Elwood, Victoria, Australia.
Official Australia Post postcode for Elwood. A postcode may cover multiple suburbs.
Australia Post Postcode Finder →Usual resident population at census night. Source: ABS 2021 Census of Population and Housing.
ABS Census Data →Weekly median rent for occupied private dwellings. Source: ABS 2021 Census. Live rental data integration coming soon.
State Rental Authority →Annual median household income (before tax) for all households. Source: ABS 2021 Census.
ABS Census Data →Straight-line distance from the suburb centroid (ABS 2021 SAL geography) to the nearest capital city CBD. Actual driving distance will be longer.
Estimated 4 schools within or near this suburb based on ABS 2021 data.
Find schools near Elwood on My School →Estimated 6 parks and green spaces near this suburb. Source: ABS 2021 data.
Monthly median mortgage repayment for households currently paying off a mortgage. Source: ABS 2021 Census.
ABS Census Data →Proportion of separate houses vs units, townhouses, and other dwelling types. Source: ABS 2021 Census. Relevant for investors assessing rental demand mix.
ABS Census Data →Elwood's outer-metropolitan position means more affordable entry points for investors, with potential for capital growth as infrastructure extends outward. Demand is often driven by young families seeking space and value. The median rent of $415/week (ABS 2021) indicates a mid-range rental market. Owner-occupiers face a median mortgage repayment of $2,300/month. A median household income of $108,992/year supports premium property values and indicates a well-employed resident base. With only 12% separate houses, Elwood has a significant apartment and unit market — typical of inner-city investment corridors.
A buy-and-hold approach in Elwood could work well with careful property selection and a longer time horizon.
Rental yields in Elwood are moderate — screen for properties that offer above-average returns.
Older housing stock in Elwood combined with strong buyer demand creates solid renovation upside.
Run the numbers on a Elwood property
Scenario comparison, cash flow analysis, tax modelling, and PDF export — all in one place.
Create free account →Elwood is expected to see moderate price growth in 2026 as the broader Victoria market stabilises. Rental demand is expected to be stable, though landlords may need to remain competitive on pricing. Overall, investor sentiment toward Elwood is positive, backed by solid fundamentals.
Elwood is a outer metro area in Victoria with a population of 15,153. The median rent is $415/week and the median household income is $108,992/year (ABS 2021 Census). As with any property investment, conduct thorough due diligence on current listings, vacancy rates, and local infrastructure plans before committing.
Key demand drivers in Elwood include affordability relative to inner suburbs and expanding infrastructure. 12% of dwellings are separate houses. The area has approximately 4 schools and 6 parks nearby.
According to the ABS 2021 Census, Elwood has a population of approximately 15,153. For historical population trends and intercensal estimates, visit the ABS Census Data Explorer at abs.gov.au.
Elwood is approximately 8 km straight-line distance from the Melbourne CBD (calculated from ABS 2021 suburb centroid coordinates). This close proximity means excellent access to employment, dining, and entertainment.