Rankin Park is a smaller suburb in New South Wales within the Lake Macquarie local government area (postcode 2287). With a population of 2,547, the suburb has an established demographic with a median age of 40. Households earn a median income of $115K per year, with an average household size of 2.7 people. The most common occupations are professionals, clerical & administrative, managers. The top ancestries reported are English, Australian, Irish.
The median house price in Rankin Park is $960,000, having surged 10.3% over the past year. Units have a median price of $600,000 (-17.2% YoY). The current median weekly rent is $620. This gives a gross rental yield of approximately 3.4%. The median monthly mortgage repayment is $2,000.
Public transport access includes 20 bus stops. The crime rate in the Lake Macquarie LGA is below average at 3,396 incidents per 100,000 population.
From an investment perspective, Rankin Park offers a gross rental yield of 3.4%, rated as moderate yield. Property prices sit below the state median ($960K/$1.5M), suggesting a potential value opportunity. The price-to-income ratio of 8.3x is considered moderate. House prices have moved +10.3% year-on-year.
Rankin Park is a smaller suburb in New South Wales within the Lake Macquarie local government area (postcode 2287). With a population of 2,547, the suburb has an established demographic with a median age of 40. Households earn a median income of $115K per year, with an average household size of 2.7 people. The most common occupations are professionals, clerical & administrative, managers. The top ancestries reported are English, Australian, Irish.
The median house price in Rankin Park is $960,000, having surged 10.3% over the past year. Units have a median price of $600,000 (-17.2% YoY). The current median weekly rent is $620. This gives a gross rental yield of approximately 3.4%. The median monthly mortgage repayment is $2,000.
Public transport access includes 20 bus stops. The crime rate in the Lake Macquarie LGA is below average at 3,396 incidents per 100,000 population.
From an investment perspective, Rankin Park offers a gross rental yield of 3.4%, rated as moderate yield. Property prices sit below the state median ($960K/$1.5M), suggesting a potential value opportunity. The price-to-income ratio of 8.3x is considered moderate. House prices have moved +10.3% year-on-year.