Located in South Australia within the Wattle Range local government area, Millicent is a medium-sized suburb (postcode 5280). It is home to about 5,110 residents, with a settled, mature resident base and a median age of 49. Households earn a median income of $51K per year, with an average household size of 2.2 people. Recent annual estimates show population movement staying broadly stable across the broader catchment, with population growth running at +0.1% year-on-year at the LGA level. SA employment has moved +2.1% year-on-year in the official Jobs and Skills Australia NERO series, which provides the broader jobs backdrop for this suburb. SA also had 23 Commonwealth-backed major projects under construction, 2 underway, and 11 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, technicians & trades, community & personal service. Employment in the area leans toward healthcare and manufacturing. The top ancestries reported are Australian, English, Scottish.
Units have a median price of $286,000 (+30% YoY). The current median weekly rent is $318. This gives a gross rental yield of approximately 5.8%. The median monthly mortgage repayment is $902.
Millicent is served by 4 schools, including 3 primary, 1 secondary. 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 Wattle Range LGA is below average at 3,327 incidents per 100,000 population.
On the investment side, Millicent shows a gross rental yield of approximately 5.8%, rated as high yield. Property prices sit below the state median ($286K/$950K), which can point to relative value. The price-to-income ratio of 5.6x is considered affordable. House prices have moved +30.0% year-on-year. Population growth of +0.1% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.