Rainbow is a small community in Victoria within the Hindmarsh local government area (postcode 3424). With a population of 672, the suburb has an older demographic with a median age of 56. Households earn a median income of $54K per year, with an average household size of 2.1 people. The most common occupations are managers, professionals, labourers. The top ancestries reported are English, Australian, German.
The median house price in Rainbow is $200,000, having surged 14.3% over the past year. The current median weekly rent is $290. This gives a gross rental yield of approximately 7.5%. The median monthly mortgage repayment is $500.
Rainbow is served by 1 school, including 1 combined. The average ICSEA score is 980, which is around the national average of 1,000. Public transport access includes 1 bus stop. Healthcare facilities include 1 public hospital. The crime rate in the Hindmarsh LGA is moderate at 6,724 incidents per 100,000 population.
From an investment perspective, Rainbow offers a gross rental yield of 7.5%, rated as high yield. Property prices sit below the state median ($200K/$875K), suggesting a potential value opportunity. The price-to-income ratio of 3.7x is considered affordable. House prices have moved +14.3% year-on-year.
Rainbow is a small community in Victoria within the Hindmarsh local government area (postcode 3424). With a population of 672, the suburb has an older demographic with a median age of 56. Households earn a median income of $54K per year, with an average household size of 2.1 people. The most common occupations are managers, professionals, labourers. The top ancestries reported are English, Australian, German.
The median house price in Rainbow is $200,000, having surged 14.3% over the past year. The current median weekly rent is $290. This gives a gross rental yield of approximately 7.5%. The median monthly mortgage repayment is $500.
Rainbow is served by 1 school, including 1 combined. The average ICSEA score is 980, which is around the national average of 1,000. Public transport access includes 1 bus stop. Healthcare facilities include 1 public hospital. The crime rate in the Hindmarsh LGA is moderate at 6,724 incidents per 100,000 population.
From an investment perspective, Rainbow offers a gross rental yield of 7.5%, rated as high yield. Property prices sit below the state median ($200K/$875K), suggesting a potential value opportunity. The price-to-income ratio of 3.7x is considered affordable. House prices have moved +14.3% year-on-year.