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Palm Cove, QLD 4879
Suburb profile: median house and unit prices, rental yield, capital growth, vacancy and demographics
Data updated
Median House
$1,190,000
market range $1.1M-$1.4M
Median Unit
$550,000
market range $500K-$725K
Gross Yield (houses)
3.8%
1yr Growth (houses)
+14.6%
market range +7.5% to +20.0%
Investment snapshot for Palm Cove
Palm Cove has enough public data for first-pass screening across yield, vacancy, price and supply signals.
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Palm Cove market and investor summary
Palm Cove (QLD 4879) runs a median house price of $1.2M, with houses yielding a gross 3.8%. House prices have moved +14.6% over the past year and +20.1% over three years. At 1.0% vacancy, it is a tight rental market that favours landlords.
For an investor, the rent-to-price profile sits mid-range: a gross house yield near 3.8% is neither a standout cashflow play nor a pure growth bet. Rental demand looks steady, with vacancy at 1.0% and a resident base that is not shrinking. Houses also take time to sell, around 75 days on market, so plan for a slower exit if you ever need one.
Living in Palm Cove: people, income and schools
Palm Cove has a resident population of roughly 2,450, and the area has been growing steadily, up about 14% over five years. The median age is 53, an older, established demographic, and families account for 70% of households.
Households here earn a median of about $79,000 a year, or roughly $1,530 a week. On socio-economic measures it ranks comfortably above the national middle (8 out of 10 on the ABS advantage index). At current prices a median house runs to a steep 15.0 times local household income, so affordability is a genuine constraint on local buyers. Incomes have risen about 14% over five years, which tends to underpin what local buyers can pay.
There are 2 schools within about 5km, testing close to the national school average on ICSEA. It is fairly car-dependent; the suburb scores 37 for walkability and 37 for transit out of 100. Fixed broadband is delivered over the NBN's Fibre to the Node.
- Population
- 2,450
- +14% over 5yr
- Median age
- 53 years
- Median household income
- $79,000/yr
- Households renting
- 30%
- Family households
- 70%
- Socio-economic rank
- 8/10
- ABS advantage index
- Schools within 5km
- 2
- avg ICSEA 996
- Unemployment
- 2.2%
- Walk score
- 37/100
Demographic, school and socio-economic figures are sourced from the ABS Census, SEIFA and ACARA. Property metrics reflect PropRadar's latest data.
Properties in Palm Cove
View all →Frequently asked questions about Palm Cove
What should I check before investing in Palm Cove?
Palm Cove has enough public data for first-pass screening across yield, vacancy, price and supply signals. Capital growth of +14.6% in the past year shows strong recent price momentum. 3-year capital growth of +20.1% shows sustained momentum, not just a single-year spike. Compare those signals with nearby suburbs and individual listings before relying on the suburb-level view.
What are typical property prices in Palm Cove?
The median property price in Palm Cove, QLD 4879 is $1.2M for houses and $550K for units.
What rental yield does Palm Cove show?
The gross rental yield in Palm Cove is 3.8% for houses. Gross yield is calculated as annual rent divided by property price, and it doesn't account for expenses or tax.
What does recent house price growth show for Palm Cove?
House prices in Palm Cove are up 14.6% over the past year and up 20.1% over three years. Capital growth is a key driver of total investment return, so pair it with rental yield to get a full picture.
How tight is the rental market in Palm Cove?
The current vacancy rate in Palm Cove is 1.0%. A rate under 2% generally signals a tight rental market. This suburb's rental market is very tight, with landlords typically holding strong bargaining power and low rental downtime.
How many people live in Palm Cove?
Palm Cove has a population of approximately 2,450 residents, with a median age of 53.
What schools are near Palm Cove?
There are 2 schools within roughly 5km of Palm Cove. Their average ICSEA is close to the national mean of 1000. ICSEA is the ABS measure of a school community's socio-educational advantage.
Is Palm Cove affordable to buy in?
A median house in Palm Cove costs about 15.0 times the median local household income (a high multiple that makes the suburb a stretch for median local earners). The ratio compares the median house price with annual household income; it is a rough affordability gauge, not a substitute for your own borrowing assessment.
Is Palm Cove's population growing?
The population of Palm Cove has grown about 14% over the past five years, an above-average pace. Population growth feeds underlying housing demand, so it is worth weighing alongside price and yield.
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