Baw Baw Shire has an estimated population of 45,205 (as at 30 June 2013). The municipality is experiencing rapid residential growth with a 2.89 per cent annual growth rate between 2006 and 2011, or an increase of 5,806 people.
Population modelling has predicted the shire will continue growing at an annual rate of 2.3 per cent to reach 60,452 by 2026. It is expected Baw Baw Shire will have 71,683 residents by 2036, having grown at a rate of over 1.7 per cent annually over the previous decade.
Town populations (as at 30 June 2011):