Millmerran (postcode 4357) is a close-knit residential community in Queensland within the Toowoomba local government area. It is home to about 1,545 residents, with a settled, mature resident base and a median age of 45. Households earn a median income of $61K per year, with an average household size of 2.3 people. Recent annual estimates show population movement staying broadly stable across the broader catchment, with population growth running at +1.2% year-on-year at the LGA level. QLD employment has moved +0.9% year-on-year in the official Jobs and Skills Australia NERO series, which provides the broader jobs backdrop for this suburb. QLD also had 32 Commonwealth-backed major projects under construction, 12 underway, and 50 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 labourers, managers, technicians & trades. Employment in the area leans toward agriculture and healthcare. The top ancestries reported are Australian, English, Scottish.
The median house price in Millmerran is $270,000, having surged by 13.9% over the past year. The median weekly rent is $240 (Census 2021). This gives a gross rental yield of approximately 4.6%. The median monthly mortgage repayment is $1,083.
Millmerran is served by 2 schools, including 1 primary, 1 combined. The average ICSEA score is 950, which is around the national average of 1,000. Healthcare facilities include 1 public hospital. The crime rate in the Toowoomba LGA is moderate at 5,831 incidents per 100,000 population.
From an investment perspective, Gross rental yield sits at around 4.6% (moderate yield). Property prices sit below the state median ($270K/$1.1M), which can point to relative value. The price-to-income ratio of 4.4x is considered affordable. House prices have moved +13.9% year-on-year. Population growth of +1.2% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.