Rainbow Flat (postcode 2430) is a small locality in New South Wales within the Mid-Coast local government area. It is home to about 693 residents, with a settled, mature resident base and a median age of 51. Households earn a median income of $68K per year, with an average household size of 2.6 people. Recent annual estimates show population movement staying broadly stable across the broader catchment, with population growth running at +0.7% year-on-year at the LGA level. NSW employment has moved +0.3% year-on-year in the official Jobs and Skills Australia NERO series, which provides the broader jobs backdrop for this suburb. NSW also had 37 Commonwealth-backed major projects under construction, 5 underway, and 75 in planning as at 2 October 2024, which is useful as a broader delivery backdrop rather than a suburb-specific project count. The most common occupations are technicians & trades, professionals, community & personal service. Employment in the area leans toward healthcare and construction. The top ancestries reported are English, Australian, Irish.
The median house price in Rainbow Flat is $1.1 million, having fallen by 4.4% over the past year. The current median weekly rent is $530. This gives a gross rental yield of approximately 2.5%. The median monthly mortgage repayment is $1,690.
Public transport access includes 20 bus stops. The crime rate in the Mid-Coast LGA is below average at 3,779 incidents per 100,000 population.
On the investment side, The gross rental yield works out to roughly 2.5%, which reads as low yield. Property prices are near the state median ($1.1M/$1.5M). The price-to-income ratio of 16.5x is considered stretched. House prices have moved -4.4% year-on-year. Population growth of +0.7% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.