Boolarra is a small locality in Victoria within the Latrobe (Vic.) local government area (postcode 3870). With a population of 1,023, the suburb has an older-leaning population with a median age of 50. Households earn a median income of $62K per year, with an average household size of 2.3 people. VIC 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. VIC also had 45 Commonwealth-backed major projects under construction, 17 underway, and 27 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 professionals, technicians & trades, labourers. Employment in the area leans toward healthcare and education. The top ancestries reported are English, Australian, Scottish.
Boolarra has a median house price of $450,000, which has jumped by 26.8% year-on-year. The current median weekly rent is $420. This gives a gross rental yield of approximately 4.9%. The median monthly mortgage repayment is $1,083.
Boolarra is served by 1 school, including 1 primary. The average ICSEA score is 951, which is around the national average of 1,000. Public transport access includes 2 bus stops. The crime rate in the Latrobe (Vic.) LGA is higher than average at 17,840 incidents per 100,000 population.
On the investment side, Boolarra shows a gross rental yield of approximately 4.9%, rated as moderate yield. Property prices sit below the state median ($450K/$875K), which can point to relative value. The price-to-income ratio of 7.2x is considered moderate. House prices have moved +26.8% year-on-year.