Forbes
Agriculture employs 9.6% of Forbes workers (205 people), ranking as the third-largest industry, a distinction no major metro suburb shares. House prices are essentially flat at $445,000, declining 0.3% from $446,500 the prior year, placing Forbes in the rare category of NSW localities with zero price growth. Despite only 4.7% born overseas (16.9pp below the national average), the town generates 107 development applications in 12 months, one of the highest DA counts among similarly-sized regional centres.
Population
8,157
Median Age
42.0
Household IncomeiMedian weekly household income (ABS Census)
$1,221/wk
DAs (12 months)iDevelopment Applications lodged in the past year
113
Median House
$445K
2024-2025 (PSI derived)
The $445,000 median house price sits well below the NSW state median. Three-bedroom homes at 45.6% dominate, and 4-plus bedrooms at 33.1% provide generous family options on large rural-town blocks. Mortgage repayments of $1,257/month keep mortgage-to-income at 23.8%, comfortably below stress. Separate houses at 88.6% define the stock. Outright ownership at 39.0% is high, reflecting generational farming and small-business families. Turnover at 17.5% is moderate, and 82.5% of residents stayed put over 5 years. Vacancy at 9.7% is elevated for a country town, suggesting seasonal or temporary dwelling effects across the large 884 sqkm area.
For Buyers
The $445,000 median house price sits well below the NSW state median. Three-bedroom homes at 45.6% dominate, and 4-plus bedrooms at 33.1% provide generous family options on large rural-town blocks. Mortgage repayments of $1,257/month keep mortgage-to-income at 23.8%, comfortably below stress. Separate houses at 88.6% define the stock. Outright ownership at 39.0% is high, reflecting generational farming and small-business families. Turnover at 17.5% is moderate, and 82.5% of residents stayed put over 5 years. Vacancy at 9.7% is elevated for a country town, suggesting seasonal or temporary dwelling effects across the large 884 sqkm area.
For Investors
Weekly rent of $230 against a $445,000 median produces roughly 2.7% gross yield. Vacancy at 9.7% is above healthy levels. The 29.4% renter share provides a moderate tenant pool. Prices are flat (-0.3% year-on-year), so this is not a capital growth story. However, 107 DAs in 12 months is surprisingly active, including new dwellings and subdivisions, suggesting construction demand. Rents grew 53.3% over the decade, one of the steepest regional increases. Population shrinks at -0.23% per year (-23 persons), limiting long-term demand growth. Internal migration runs at -41/yr with minimal overseas arrivals (+18/yr).
Development Activity
Total DAs
703
Last 12 Months
113
YoY ChangeiYear-over-year change in DA lodgements
-3.4%
Avg DA CostiAverage estimated cost per DA in the past year
N/A
Monthly DA Lodgements
DA Categories
Schools in Forbes iICSEA: school advantage index. 1000 = national avg, higher = more advantaged
St Laurence's Parish School
K-6 · 298 students
Red Bend Catholic College
7-12 · 880 students
Forbes Public School
K-6 · 356 students
Forbes High School
7-12 · 287 students
Forbes North Public School
K-6 · 203 students
Demographics
Only 4.7% of residents were born overseas, 16.9pp below the national average, making Forbes one of NSW's most domestically-born communities. English ancestry leads at 3,227, followed by Irish (995), Scottish (682), and German (335). University attainment at 19.2% is 10.9pp below the national average. The median age of 42 is 2 years above national. Managers (542) nearly match professionals (564) as the top occupation, reflecting the farming and small-business character. The volunteering rate of 19.4% is well above the national average, consistent with rural community engagement.
Age Distribution
Bedrooms
Dwelling Structure
88.6%
Houses
4.9%
Townhouse
5.1%
Apartment
Tenure
Prices barely moved: $446,500 in 2024 to $445,000 in 2025 (-0.3%). The 88.6% separate house share is typical of a rural service town. Four-plus bedroom homes at 33.1% is high, reflecting large blocks and older homesteads. Outright ownership (39.0%) and mortgage holders (31.6%) dominate, with renters at 29.4%. Mortgage-to-income at 23.8% and rent-to-income at 18.8% are both well below stress levels, making Forbes one of the most affordable NSW towns by these measures. Apartments at 5.1% and semi-detached at 4.9% are minimal.
Median House Price Trend
Source: State Valuer-General
Mortgage / mo
$1,257
Rent / wk
$230
HH Size
2.3
Personal Income / wk
$706
Vacancy Ratei% of dwellings unoccupied on Census night (ABS 2021)
9.7%
Unoccupied
342
Rent / IncomeiMedian rent as % of household income. Over 30% = housing stress
18.8%
Mortgage / IncomeiMedian mortgage as % of household income. Over 30% = housing stress
23.8%
Community Profile
Ancestry
Household Composition
32.2%
Couples, no children
5,946
Total families
Economy & Employment
Healthcare (17.0%) and education (16.0%) are the top two employers, together accounting for a third of all workers. Agriculture at 9.6% (205 workers) is the distinctive industry, consistent with Forbes' role as a Lachlan Valley farming hub. Construction (8.9%) and public admin (7.3%) follow. Professionals (564) edge managers (542), but labourers (442) rank third, well above metro proportions. Unemployment at 4.5% is below the national average, and full-time employment runs at 66.8%. SEIFA IRSAD decile 3 places Forbes in the lower band nationally, though the IER decile of 4 shows slightly better economic resource access.
Unemployment
3.3%
Labour Force
5,358
Unemployed
178
Quarterly Trend
Source: SALM Dec-25
Socio-Economic Indexes (SEIFA)iABS index ranking suburbs from 1 (most disadvantaged) to 10 (most advantaged)
Full-time
66.8%
Part-time
28.7%
Participation
52.9%
Employed
3,322
Occupations
Top Industries
University
19.2%
Postgraduate
3.2%
Born Overseas
4.7%
Dwellings
3,165
Transport to Work
Car dependence dominates at 87.5%, with public transport at just 0.5%. Walking and cycling captures 5.1%, reasonable for a country town. Five schools serve the area: St Laurence's Parish School (Catholic, ICSEA 992, 298 students), Red Bend Catholic College (Independent secondary, ICSEA 989, 880 students), Forbes Public School (Government, ICSEA 940, 356 students), Forbes High School (Government, ICSEA 848, 287 students), and Forbes North Public School (Government, ICSEA 818, 203 students). ICSEA scores range widely from 818 to 992. SEIFA IEO decile 3 indicates limited educational opportunity.
Drive
87.5%
Public Transport
0.5%
Walk / Cycle
5.1%
Work from Home
N/A
Population Forecast
-0.23%/yr
(-23 people/yr)
EstablishedPopulation is shrinking at -0.23% per year, losing about 23 people annually. The medium forecast projects a decline from about 10,009 in 2026 to 9,896 by 2031. Internal migration runs at -41/yr while overseas arrivals add only +18/yr. Over the past decade, population grew just 2.2%, one of the slowest rates in the Central West. The senior share rose 3.6pp while the working-age share fell 1.5pp, confirming an aging trajectory. Affordability has remained stable at around 32%, meaning prices have tracked low incomes. Real income grew 27.0% over the decade, above average.
Historical + Forecast
Hamilton-Perry + Holt smoothing on ERP 2001-2025
Age Cohort Forecast
Primary Driver
Overseas Migration
Net Overseas / yr
+18
Net Internal / yr
-41
Gentrification Signal
Not gentrifying
National Ranking iPercentile rank among ~15,000 AU suburbs. 90% = higher than 90% of suburbs
How Forbes compares to ~15,000 Australian suburbs
Frequently Asked Questions
Is Forbes a good suburb to live in?
Forbes sits in SEIFA IRSAD decile 3, the lower band nationally. Housing is very affordable at $445,000 with mortgage stress at 23.8%. Five schools are available, though ICSEA scores range from 818 to 992. Unemployment at 4.5% is below national average. The volunteering rate of 19.4% reflects strong community ties.
What is the median house price in Forbes?
The median house price is $445,000, essentially flat (-0.3%) from $446,500 the previous year. Monthly mortgage repayments average $1,257, keeping mortgage-to-income at 23.8%, well below the 30% stress threshold.
What schools are in Forbes?
Forbes has 5 schools: St Laurence's Parish School (Catholic, ICSEA 992), Red Bend Catholic College (Independent secondary, ICSEA 989, 880 students), Forbes Public (ICSEA 940), Forbes High School (ICSEA 848), and Forbes North Public (ICSEA 818). The Catholic schools score near the national median.
Is Forbes safe?
Suburb-level crime data is not available for Forbes. SEIFA IRSD decile 3 and the 29.4% renter share are moderate risk indicators. Unemployment at 4.5% is below the national average, which typically correlates with lower crime rates in Australian research.
Is Forbes good for property investment?
Gross yield is about 2.7% ($230/week vs $445,000 median), and prices are flat (-0.3%). Rents grew 53.3% over the decade, but vacancy at 9.7% is elevated. 107 DAs in 12 months show active building demand. Population shrinks at -0.23%/yr, which limits long-term capital growth.
How is Forbes's population changing?
Population declines at -0.23% per year, losing about 23 people annually. Internal migration runs at -41/yr with minimal overseas arrivals (+18/yr). The senior share rose 3.6pp over the decade. The forecast projects about 9,896 residents by 2031, down from 10,009 in 2026.
How to read these comparisons
Phrases like "above the national average" reference the unweighted median across Australian suburbs with more than 1,000 residents, not population-weighted national figures. Suburb-level medians are more useful for ranking suburbs against each other; ABS census headlines are population-weighted (so dominated by Sydney and Melbourne) and can read very differently.
Current baseline (refreshed 2026-05-10): median age 40, university-educated 30.1%, born overseas 21.6%, average household size 2.5 people.
Data sources: ABS 2021 Census (demographics, income, tenure), state Valuer-General (house prices), Department of Jobs SALM (unemployment), ACARA (school ICSEA), state Crime Statistics agencies (offences), council DA portals (development applications). Population forecasts use a Hamilton-Perry cohort model calibrated to ABS ERP.
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