Albert Park
Suburb profile, market snapshot and recent listings for Albert Park, VIC 3206.
About Albert Park
Welcome to Albert Park
Albert Park sits about four kilometres south of the Melbourne CBD, wrapped around the lake and parkland that give the suburb its name. It's one of the city's most sought-after bayside pockets, bordered by Middle Park, South Melbourne, Port Melbourne and the two St Kildas, and offering a rare combination of period streetscapes, open green space and easy access to the beach.
With a population of just over 6,000 and a median age of 46, it's a suburb favoured by professionals, families and downsizers who want inner-city convenience without giving up a sense of village life. Expect wide tree-lined streets of Victorian terraces and villas, a well-known lake used by walkers and joggers, and a lifestyle built around good coffee, the water and the annual buzz of the Formula 1 Australian Grand Prix, which circles the park itself.
Lifestyle & dining
Bridport and Victoria Streets form the suburb's two main strips, lined with cafes, bakeries, wine bars and restaurants that give Albert Park its relaxed but polished feel. It's the kind of place where locals have a regular coffee order and a favourite corner pub, and where a Saturday morning might involve a loop of the lake followed by breakfast at one of the streetside tables. The beach at Port Phillip Bay is a short stroll away, adding a genuine seaside dimension that's rare this close to the CBD.
Parks & recreation
The suburb's namesake park and lake are the heart of daily life here, offering paths for running and cycling, sporting ovals, a golf course and the Melbourne Sports and Aquatic Centre (MSAC) for swimming and gym sessions. Albert Park Lake also hosts the Australian Grand Prix each year, temporarily transforming the streets into a world-famous street circuit. Between the park, the lake and the nearby beaches at Middle Park and St Kilda, residents have some of the best recreational green and blue space in inner Melbourne on their doorstep.
Schools & families
Families are well served locally, with Albert Park Primary School and South Melbourne Park Primary School both close by, and Albert Park College catering for secondary students. SEDA College (Victoria) also runs several specialist campuses in the area, including sites at Jubilee Park, the MSAC function room and a sailing program based at Albert Park, reflecting the suburb's strong sporting culture and its links to elite pathways in football, netball and sailing.
Getting around
Albert Park is well connected without being hemmed in by traffic. Trams run through the suburb and along neighbouring corridors, linking residents to South Melbourne, the CBD and St Kilda, while the light rail line to Port Melbourne skirts its western edge. Its proximity to the CBD, roughly four kilometres, makes for a quick commute by tram, bike or car, and the flat, leafy streets make walking and cycling a genuinely practical option for getting to the shops, the beach or the park.
The property market
Albert Park's housing stock is dominated by houses, which make up 82% of current listings, with apartments and units at 12%, and townhouses and land making up the remaining 6% between them. That mix reflects the suburb's character as a low-rise, heritage-heavy pocket rather than a high-density one. The median house price currently sits at $2.55 million, having risen 9.2% recently, while units and apartments have a median of $1.03 million. Renters can expect a median asking rent of around $1,250 per week, underscoring Albert Park's position as one of Melbourne's premium inner-bayside markets, alongside neighbours like Middle Park and South Melbourne.
Housing & architecture
The streetscape is defined by well-preserved Victorian and Edwardian terraces, freestanding villas and the occasional grand double-fronted house, many with iron lacework and period detailing that speaks to the suburb's nineteenth-century origins. Renovation and careful extension are common, with owners keen to retain heritage facades while updating interiors, and there's a steady but limited supply of apartments, mostly in smaller boutique developments rather than large towers, keeping the overall scale of the suburb low and consistent.
Market snapshot
Albert Park property market
Median sale price
$2.55m
House · 3 bed
Median rent
$1,250
per week
Gross rental yield
2.5%
annual rent ÷ sale price
Typical price range
Entry
$1.67m
Median
$2.55m
Premium
$3.90m
Days on market
38
Auction clearance
84%
Sold this year
77
Median sold price trend · House 3 bed
Compound growth +0.7% / yr over 4 yrs
Median price by bedrooms · House
Property types on market
Share of current listings in Albert Park by dwelling type.
Who lives here
Demographics
ABS Census 2021 figures for Albert Park, VIC 3206.
Population
6,044
residents (2021)
Median age
46
years
Household income
$2,533
median, per week
Median rent
$590
per week
Median mortgage
$3,500
per month
Mortgage / income
32%
stretched (>30%)
Source: Australian Bureau of Statistics, Census of Population and Housing 2021. Suburb-level (SAL) aggregates.
Education
Schools in Albert Park
Government school catchment
Independent & Catholic schools
SEDA College (Victoria) - Jubilee Park
SEDA College (Victoria) - MSAC Function Room
SEDA College (Victoria) - Sailing - Albert Park
Recent results
Recently sold in Albert Park
$1.07m
8 Little Finlay Street
Sold ~July 2026
$2.19m
1 Dundas Place
Sold ~July 2026
$5.38m
253 Danks Street
Sold ~July 2026
$12m
4 Canterbury Road
Sold ~June 2026
$800k
32 St Vincent Street
Sold ~June 2026
$2.20m
13 Madden Street
Sold ~June 2026
$2.10m
29 Young Street
Sold ~June 2026
$1.10m
12 Little O'Grady Street
Sold ~June 2026
Sold prices as published on the original listing; some may reflect the last advertised price. Dates are approximate.
Explore the area
Properties & amenities in Albert Park
Compare the area
Price map around Albert Park
Every listing for sale near Albert Park, coloured by price — so you can see how it stacks up against the streets and suburbs next door.
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Common questions
Albert Park suburb FAQ
What is the median property price in Albert Park?
The median house price in Albert Park, VIC is $2.55m for a 3-bedroom home. Over the past year, median sold prices have risen about 9.2%.
How much is rent in Albert Park?
The median weekly rent in Albert Park is around $1,250 per week.
Is Albert Park a good place to live?
Albert Park is an inner suburb of Melbourne, Victoria, Australia, 4 km (2.5 mi) south of Melbourne's Central Business District. Albert Park is an established residential suburb in VIC, with a population of around 6,044 and 6 schools in the area.
What is the population of Albert Park?
Albert Park has a population of 6,044 (ABS 2021 Census), with a median age of 46.
What schools are in Albert Park?
There are 6 schools in or near Albert Park, including Albert Park Primary School, South Melbourne Park Primary School and Albert Park College.
How long do homes take to sell in Albert Park?
Properties in Albert Park take around 38 days to sell on average, with an auction clearance rate of about 84%.
How much do you need to buy in Albert Park?
Entry-level properties in Albert Park start around $1.67m, while premium homes reach $3.90m.
What suburbs are near Albert Park?
Suburbs near Albert Park include Middle Park, Port Melbourne, South Melbourne, St Kilda West and St Kilda.
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