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Palmyra, WA 6157
Suburb profile: median house and unit prices, rental yield, capital growth, vacancy and demographics
Data updated
Median House
$1,260,000
market range $1.2M-$1.3M
Median Unit
$770,000
market range $750K-$825K
Gross Yield (houses)
3.4%
1yr Growth (houses)
+22.2%
market range +5.0% to +22.5%
Investment snapshot for Palmyra
Palmyra has enough public data for first-pass screening across yield, vacancy, price and supply signals.
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Palmyra market and investor summary
In Palmyra, WA 6157, the median house sells for around $1.3M, on a gross rental yield of 3.4% for houses. House prices have moved +22.2% over the past year and +56.8% over three years. At 0.5% vacancy, it is a tight rental market that favours landlords.
For an investor, this reads as a capital-growth market more than a cashflow one. A gross house yield around 3.4% will not cover holding costs in the early years, so the case leans on price appreciation. Rental demand looks steady, with vacancy at 0.5% and a resident base that is not shrinking.
Living in Palmyra: people, income and schools
About 7,585 people live in Palmyra, and the area has been growing steadily, up about 10% over five years. At a median age of 39, it reads as broadly working-age, and 71% of homes are owner-occupied.
The typical household income runs to around $90,000 a year (about $1,730 a week). On socio-economic measures it ranks among the most advantaged in the country (9 out of 10 on the ABS advantage index). At current prices a median house runs to a steep 14.0 times local household income, so affordability is a genuine constraint on local buyers.
Families have 53 schools within roughly 5km to choose from, and they test well above the national school average on ICSEA, a draw for education-focused families. Palmyra sits about 13 km from the CBD. Some errands can be done on foot, though a car still helps; the suburb scores 63 for walkability and 10 for transit out of 100. Fixed broadband is delivered over the NBN's Fibre to the Node.
- Population
- 7,585
- +10% over 5yr
- Median age
- 39 years
- Median household income
- $90,000/yr
- Households renting
- 26%
- Family households
- 60%
- Socio-economic rank
- 9/10
- ABS advantage index
- Schools within 5km
- 53
- avg ICSEA 1113
- Unemployment
- 2.1%
- Distance to CBD
- 13 km
- Walk score
- 63/100
Demographic, school and socio-economic figures are sourced from the ABS Census, SEIFA and ACARA. Property metrics reflect PropRadar's latest data.
Properties in Palmyra
View all →Frequently asked questions about Palmyra
What should I check before investing in Palmyra?
Palmyra has enough public data for first-pass screening across yield, vacancy, price and supply signals. Unit gross rental yield of 4.6% gives a usable rent-to-price starting point. Capital growth of +22.2% in the past year shows strong recent price momentum. Compare those signals with nearby suburbs and individual listings before relying on the suburb-level view.
What are typical property prices in Palmyra?
The median property price in Palmyra, WA 6157 is $1.3M for houses and $770K for units.
What rental yield does Palmyra show?
The gross rental yield in Palmyra is 3.4% for houses and 4.6% for units. 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 Palmyra?
House prices in Palmyra are up 22.2% over the past year and up 56.8% 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 Palmyra?
The current vacancy rate in Palmyra is 0.5%. 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 Palmyra?
Palmyra has a population of approximately 7,585 residents, with a median age of 39.
What schools are near Palmyra?
There are 53 schools within roughly 5km of Palmyra. Their average ICSEA sits well above the national mean of 1000, which points to a more advantaged school catchment. ICSEA is the ABS measure of a school community's socio-educational advantage.
Is Palmyra affordable to buy in?
A median house in Palmyra costs about 14.0 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 Palmyra's population growing?
The population of Palmyra has grown about 10% over the past five years, an above-average pace. Population growth feeds underlying housing demand, so it is worth weighing alongside price and yield.
How far is Palmyra from the CBD?
Palmyra is about 13 km from the CBD.
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