Located in New South Wales within the Carrathool local government area, Rankins Springs is a small, quiet locality (postcode 2669). With a population of 208, the suburb has a mix of families and early-career residents with a median age of 35. Households earn a median income of $66K per year, with an average household size of 2.5 people. Recent annual estimates show population movement staying broadly stable across the broader catchment, with population growth running at +1.1% 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 managers, labourers, community & personal service. Employment in the area leans toward agriculture and retail trade. The top ancestries reported are English, Australian, Irish.
Rankins Springs has a median house price of $86,000, which has declined steeply by 41.6% year-on-year. The median weekly rent is $143 (Census 2021). This gives a gross rental yield of approximately 8.6%. The median monthly mortgage repayment is $570.
Rankins Springs is served by 1 school, including 1 primary. The average ICSEA score is 988, which is around the national average of 1,000. Public transport access includes 12 bus stops. The crime rate in the Carrathool LGA is low at 0 incidents per 100,000 population.
On the investment side, The gross rental yield works out to roughly 8.6%, which reads as high yield. Property prices sit below the state median ($86K/$1.5M), which can point to relative value. The price-to-income ratio of 1.3x is considered affordable. House prices have moved -41.6% year-on-year. Population growth of +1.1% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.