Forbes is a mid-sized suburb in New South Wales within the Forbes local government area (postcode 2871). With a population of 8,157, the suburb has an established demographic with a median age of 42. Households earn a median income of $63K per year, with an average household size of 2.3 people. The most common occupations are professionals, managers, technicians & trades. The top ancestries reported are Australian, English, Aboriginal Australian.
The median house price in Forbes is $330,000, having dropped significantly 25% over the past year. Units have a median price of $400,000 (-65.6% YoY). The current median weekly rent is $400. This gives a gross rental yield of approximately 6.3%. The median monthly mortgage repayment is $1,257.
Forbes is served by 5 schools, including 3 primary, 2 secondary. The average ICSEA score is 917, which is below the national average of 1,000. Public transport access includes 1 rail station, 12 ferry wharfves, 520 bus stops. Healthcare facilities include 1 public hospital. The crime rate in the Forbes LGA is moderate at 6,918 incidents per 100,000 population.
From an investment perspective, Forbes offers a gross rental yield of 6.3%, rated as high yield. Property prices sit below the state median ($330K/$1.5M), suggesting a potential value opportunity. The price-to-income ratio of 5.2x is considered affordable. House prices have moved -25.0% year-on-year.
Forbes is a mid-sized suburb in New South Wales within the Forbes local government area (postcode 2871). With a population of 8,157, the suburb has an established demographic with a median age of 42. Households earn a median income of $63K per year, with an average household size of 2.3 people. The most common occupations are professionals, managers, technicians & trades. The top ancestries reported are Australian, English, Aboriginal Australian.
The median house price in Forbes is $330,000, having dropped significantly 25% over the past year. Units have a median price of $400,000 (-65.6% YoY). The current median weekly rent is $400. This gives a gross rental yield of approximately 6.3%. The median monthly mortgage repayment is $1,257.
Forbes is served by 5 schools, including 3 primary, 2 secondary. The average ICSEA score is 917, which is below the national average of 1,000. Public transport access includes 1 rail station, 12 ferry wharfves, 520 bus stops. Healthcare facilities include 1 public hospital. The crime rate in the Forbes LGA is moderate at 6,918 incidents per 100,000 population.
From an investment perspective, Forbes offers a gross rental yield of 6.3%, rated as high yield. Property prices sit below the state median ($330K/$1.5M), suggesting a potential value opportunity. The price-to-income ratio of 5.2x is considered affordable. House prices have moved -25.0% year-on-year.