ABS 2021 Census · Updated 31 March 2026
Richmond is a well-established middle-ring suburb of Melbourne, Australia, with a population of approximately 28,587, making it a sizeable community. Located 4 km from the Melbourne CBD, Richmond is a middle ring area in Victoria. The median household income is $116,740 AUD per year (ABS 2021 Census).
Strong household incomes in Richmond underpin solid property demand. Close CBD access strengthens tenant appeal and resale value.
Map shows Richmond, Victoria, Australia.
Official Australia Post postcode for Richmond. 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 7 schools within or near this suburb based on ABS 2021 data.
Find schools near Richmond on My School →Estimated 11 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 →Richmond's middle-ring location balances affordability with accessibility. These suburbs often benefit from established infrastructure, good schools, and transport links — making them attractive to families and long-term tenants. The median rent of $441/week (ABS 2021) indicates a mid-range rental market. Owner-occupiers face a median mortgage repayment of $2,292/month. A median household income of $116,740/year supports premium property values and indicates a well-employed resident base. With only 13% separate houses, Richmond has a significant apartment and unit market — typical of inner-city investment corridors.
Richmond's established location and strong demographics make it well-suited to a long-term buy-and-hold strategy.
Rental yields in Richmond are moderate — screen for properties that offer above-average returns.
Renovation projects in Richmond can capture the gap between unrenovated and updated property prices.
Run the numbers on a Richmond property
Scenario comparison, cash flow analysis, tax modelling, and PDF export — all in one place.
Create free account →Richmond enters 2026 with positive growth momentum, supported by strong local demographics and sustained demand. Tenant competition in Richmond continues to intensify, supporting landlords and rent stability. Overall, investor sentiment toward Richmond is positive, backed by solid fundamentals.
Richmond is a middle ring area in Victoria with a population of 28,587. The median rent is $441/week and the median household income is $116,740/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 Richmond include established amenities and transport access. 13% of dwellings are separate houses. The area has approximately 7 schools and 11 parks nearby.
According to the ABS 2021 Census, Richmond has a population of approximately 28,587. For historical population trends and intercensal estimates, visit the ABS Census Data Explorer at abs.gov.au.
Richmond is approximately 4 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.