Conventional railway track is laid in a layer of coarse stones known as ballast. Due to the gaps between the stones, the railway ballast behaves as a porous acoustic material, with absorptive properties that are important for the noise produced by the railway system. Sound radiated by the bottom of the sleepers may also be transmitted through the ballast. Moreover, during a train pass-by the ballast can vibrate, which may contribute to the radiated noise. To consider all three effects simultaneously, the ballast is treated here as a poro-elastic medium. To obtain the properties of the ballast as a porous medium, transfer function measurements are performed in a vertical impedance tube to determine the surface impedance and absorption coefficient of different depths of reduced scale ballast. The complex wavenumber is also determined through transfer function measurements within the ballast in the vertical tube. Porosity and flow resistivity are determined by non-acoustic measurements, and the Johnson-Champoux-Allard model for porous materials is then fitted to the measured wavenumbers, allowing the remaining parameters to be determined. Comparison is made with the measured impedance and normal incidence absorption coefficient. The model is then used to predict the diffuse field absorption coefficients of both the reduced scale ballast and full-size ballast, which are compared with measurements, showing acceptable agreement. Finally, the effects on the sleeper radiation of introducing the poro-elastic ballast model are estimated and the sensitivity of the results to a practical range of ballast properties is assessed. The ballast vibration increases the sleeper radiation at low frequency, and especially between 120 and 280 Hz. This is caused by the structural vibration of the ballast driven by the sleepers, which has a resonance around 250 Hz. The acoustic velocity within the ballast is 180° out of phase with the structural velocity, and this leads to a small reduction in the sound radiation around 100 Hz. These effects could not be predicted using a surface impedance model for the ballast. Compared with the effect of the ballast vibration and sound transmission, the absorption of the ballast has a much smaller influence on the sleeper radiation.