Millswood
Household income in the 96.4th percentile nationally sets the tone for Millswood, a compact 1.02 km2 suburb in Adelaide's inner south where 51.3% of residents own their home outright, one of the strongest debt-free ownership rates you will find anywhere. The median house price reached $1,940,000 in early 2026, well above the SA state median, and 59.1% of adults hold university qualifications, which is 29 points above the national average. With a population of 2,173 and a median age of 45, five years above the national figure, Millswood is a suburb of established, long-settled professional households rather than rapid turnover or speculative development.
Population
2,173
Median Age
45.0
Household IncomeiMedian weekly household income (ABS Census)
$2,836/wk
DAs (12 months)iDevelopment Applications lodged in the past year
13
Median House
$1.9M
Median 1Q 2026
The median house price of $1,940,000 in 1Q 2026 is down 7.6% from the $2,100,000 peak recorded in 1Q 2025, giving buyers some relief after a sharp run-up. The stock is overwhelmingly detached houses at 89.6%, with semi-detached at 5.6% and apartments at 4.8%, so competition for houses is direct and supply is constrained by the small 1.02 km2 footprint. Three-bedroom homes account for 45.7% and four-plus bedroom for 37.7%, pointing to a family-scale housing base. Monthly mortgage repayments average $2,253, producing a mortgage-to-income ratio of 18.3%, comfortably below stress thresholds relative to the 96.4th-percentile household income. Compared to most Adelaide suburbs at this price level, Millswood buyers gain low debt stress alongside a high-prestige address.
For Buyers
The median house price of $1,940,000 in 1Q 2026 is down 7.6% from the $2,100,000 peak recorded in 1Q 2025, giving buyers some relief after a sharp run-up. The stock is overwhelmingly detached houses at 89.6%, with semi-detached at 5.6% and apartments at 4.8%, so competition for houses is direct and supply is constrained by the small 1.02 km2 footprint. Three-bedroom homes account for 45.7% and four-plus bedroom for 37.7%, pointing to a family-scale housing base. Monthly mortgage repayments average $2,253, producing a mortgage-to-income ratio of 18.3%, comfortably below stress thresholds relative to the 96.4th-percentile household income. Compared to most Adelaide suburbs at this price level, Millswood buyers gain low debt stress alongside a high-prestige address.
For Investors
At $420 a week, rents are moderate relative to the $1,940,000 median, implying a gross yield well below 2%, which is typical for premium Adelaide markets. The renter share of 14.0% is low compared to the national average, leaving a thin tenant pool, and a 5.0% vacancy rate signals balanced-to-tight conditions rather than oversupply. Only 9 development applications were lodged in the past 12 months, the lowest activity consistent with an established suburb where subdivision and infill are difficult. Population growth runs at 0.25% annually, or 46 persons per year, a slow but stable demand signal. Overseas migration brings in 375 residents per year on average to the broader SA2 area, offsetting an internal outflow of 208, so external demand is the primary driver of any future population and rental pressure.
Development Activity
Total DAs
111
Last 12 Months
13
YoY ChangeiYear-over-year change in DA lodgements
-43.5%
Avg DA CostiAverage estimated cost per DA in the past year
N/A
Monthly DA Lodgements
DA Categories
Demographics
The median age of 45 is 5.0 years above the national figure, and the suburb is on an aging trajectory: the senior share rose 5.4 points and the working-age share fell 2.9 points over the decade. Overseas-born residents account for 17.0%, which is 4.6 points below the national average, reflecting the Anglo-Celtic character of the ancestry data, where English (914), Irish (275) and Scottish (258) are the three leading ancestries. University qualifications at 59.1% run 29 points above national, placing Millswood among Adelaide's most educated suburbs. Average household size is 2.7, slightly above the national figure, consistent with couples-with-children families who make up a large share of the 1,858 total family units. Volunteering reaches 25.2% of residents, well above the national benchmark.
Age Distribution
Bedrooms
Dwelling Structure
89.6%
Houses
5.6%
Townhouse
4.8%
Apartment
Tenure
Outright ownership at 51.3% is exceptionally high, indicating that most dwellings are held by long-term, debt-free residents rather than recent buyers carrying large mortgages. Those with a mortgage account for 34.7% and renters 14.0%, among the lowest renter shares in metropolitan Adelaide. The stock is 89.6% separate houses, unusual for a suburb this close to the CBD, which keeps supply scarce and prices elevated. Three-bedroom homes dominate at 45.7% and four-plus bedrooms account for 37.7%, compared to the national norm where smaller dwellings are more common. The median house price pulled back from $2,100,000 in 1Q 2025 to $1,940,000 in 1Q 2026, a 7.6% correction. Mortgage-to-income sits at 18.3% and rent-to-income at 14.8%, both comfortably below stress levels.
Median House Price Trend
Source: State Valuer-General
Mortgage / mo
$2,253
Rent / wk
$420
HH Size
2.7
Personal Income / wk
$1,171
Vacancy Ratei% of dwellings unoccupied on Census night (ABS 2021)
5.0%
Unoccupied
41
Rent / IncomeiMedian rent as % of household income. Over 30% = housing stress
14.8%
Mortgage / IncomeiMedian mortgage as % of household income. Over 30% = housing stress
18.3%
Community Profile
Languages Spoken at Home
Ancestry
Household Composition
26.5%
Couples, no children
1,858
Total families
Economy & Employment
Healthcare is the dominant employer at 23.2% of the local workforce (186 workers), followed by Professional and Technical services at 17.4% (140) and Education at 14.3% (115), with Public Administration at 9.1% and Construction at 5.1%. By occupation, Professionals (444) and Managers (213) together form the clear majority, consistent with the IEO decile 9 score for education and occupation advantage. Unemployment is 4.0% and the full-time employment rate is 60.5%, with 602 residents not in the labour force, partly explained by the older median age of 45. Household income is in the 96.4th percentile nationally. Real incomes grew 11.7% over the decade, which is steady if below the pace seen in higher-growth suburbs. The IRSAD decile of 9 confirms Millswood sits in the top tier nationally on both advantage and relative disadvantage measures.
Unemployment
2.4%
Labour Force
11,262
Unemployed
265
Quarterly Trend
Source: SALM Dec-25
Socio-Economic Indexes (SEIFA)iABS index ranking suburbs from 1 (most disadvantaged) to 10 (most advantaged)
Full-time
60.5%
Part-time
35.5%
Participation
62.1%
Employed
1,070
Occupations
Top Industries
University
59.1%
Postgraduate
16.9%
Born Overseas
17.0%
Dwellings
791
Transport to Work
Transport patterns reflect the suburb's car-dependent character: 76.1% drive, while 12.8% walk or cycle, a relatively high active-transport rate compared to most Adelaide suburbs, and only 6.2% use public transport. The crime rate of 24.9 incidents per 1,000 residents is low, and the IRSAD decile of 9 confirms Millswood is in the top tier nationally for relative advantage. No schools are recorded within the suburb boundary, so families rely on institutions in neighbouring areas, though the suburb's proximity to Adelaide's inner south puts several well-regarded schools within easy reach. The need-for-assistance rate is 3.6%, or 77 residents, modest for a suburb with a median age of 45. Housing stress is absent: mortgage-to-income at 18.3% and rent-to-income at 14.8% are both well below the 30% stress threshold.
Drive
76.1%
Public Transport
6.2%
Walk / Cycle
12.8%
Work from Home
N/A
Population Forecast
+0.25%/yr
(+46 people/yr)
EstablishedPopulation growth is slow at 0.25% annually, equivalent to 46 persons per year, and the 10-year change of 2.6% places Millswood among Adelaide's most stable, low-churn suburbs. The medium forecast for the broader SA2 holds population near 18,500 through 2031, pointing to flat rather than expansionary conditions. Overseas migration is the only positive driver, adding around 375 residents per year to the SA2 area, while net internal migration removes 208, a pattern common to established premium suburbs where fewer young families can afford entry. The gentrification score of 10 places Millswood in the not gentrifying stage, which makes sense for a suburb already at decile 9 advantage with prices above $1.9 million. Affordability improved from 37.8% in 2011 to 34.0% in 2021, a meaningful improvement compared to many comparable suburbs.
Historical + Forecast
Hamilton-Perry + Holt smoothing on ERP 2001-2025
Age Cohort Forecast
Primary Driver
Overseas Migration
Net Overseas / yr
+375
Net Internal / yr
-208
Gentrification Signal
Not gentrifying
Net internal outflow -208/yr, Strong overseas inflow +375/yr
Safety & Crime
Total Offences
54
Year ending June 2024
Rate per 1,000 People
24.9
Source: Crime Statistics Agency Victoria / SA Police
National Ranking iPercentile rank among ~15,000 AU suburbs. 90% = higher than 90% of suburbs
How Millswood compares to ~15,000 Australian suburbs
Frequently Asked Questions
Is Millswood a good suburb to live in?
Millswood ranks in decile 9 on IRSAD and IEO nationally, placing it in the top tier for advantage and education outcomes. Household income is in the 96.4th percentile, university qualifications reach 59.1% (29 points above national), and the crime rate of 24.9 per 1,000 is low. The main trade-off is the $1,940,000 median house price.
What is the median house price in Millswood?
The median house price was $1,940,000 in 1Q 2026, down 7.6% from the $2,100,000 peak in 1Q 2025. Weekly rent averages $420 and monthly mortgage repayments are approximately $2,253, giving a mortgage-to-income ratio of 18.3% relative to 96.4th-percentile household incomes.
What schools are in Millswood?
No schools are recorded inside the Millswood suburb boundary in this dataset. Families rely on schools in neighbouring inner-south Adelaide suburbs. The local adult population is highly educated, with 59.1% holding university qualifications, which is 29 points above the national average.
Is Millswood safe?
Millswood recorded 54 total crime incidents, giving a rate of 24.9 per 1,000 residents, which is low by metropolitan standards. The suburb scores decile 9 on the IRSD index of relative disadvantage nationally, and only 3.6% (77 residents) require daily assistance, both consistent with a low-disadvantage, stable community.
Is Millswood good for property investment?
Weekly rent of $420 against a $1,940,000 median implies a gross yield below 2%, which is low. The renter share of 14.0% is thin compared to national averages, limiting the tenant pool. However, the 5.0% vacancy rate is manageable, and overseas migration of 375 per year to the SA2 area provides a steady external demand signal.
How is Millswood's population changing?
Population growth is 0.25% per year, equivalent to 46 persons annually, and the 10-year change was 2.6%. The suburb is on an aging trajectory, with the senior share rising 5.4 points over the decade. Overseas migration adds 375 residents per year to the broader SA2, while internal migration removes 208, keeping net growth slow but positive.
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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