Mulwala
A 26.2% vacancy rate in a town of 2,557 people is the first number that demands explanation in Mulwala. The answer sits in its holiday-lake dynamic: a large share of dwellings are used seasonally rather than as permanent homes, which inflates apparent vacancy well above state and national norms. Median house prices sit at $550,000, affordable compared to most NSW markets, and household income falls in the 23.8th percentile nationally. The median resident age of 53 is 13 years above the national figure, pointing to a retirement-oriented and established owner base, with 47.9% owning their home outright.
Population
2,557
Median Age
53.0
Household IncomeiMedian weekly household income (ABS Census)
$1,185/wk
DAs (12 months)iDevelopment Applications lodged in the past year
88
Median House
$550K
2024-2025 (PSI derived)
At $550,000, the median house price in Mulwala is accessible compared to most NSW coastal or metropolitan markets, and prices edged up 2.8% from $540,000 in 2024 to $555,000 in 2025. Separate houses dominate the stock at 87.2%, with semi-detached at 11.5% and apartments at just 1.3%, meaning detached family homes are the near-universal product on offer. Three-bedroom homes account for 40.3% of dwellings, while 4-plus bedroom homes make up 34.4%, a bedroom profile larger than many urban areas. Monthly mortgage repayments average $1,509, and the mortgage-to-income ratio of 29.4% stays below the 30% stress threshold. Outright owners at 47.9% far outnumber mortgage holders at 32.6%, reflecting the older, debt-free owner base that dominates this market.
For Buyers
At $550,000, the median house price in Mulwala is accessible compared to most NSW coastal or metropolitan markets, and prices edged up 2.8% from $540,000 in 2024 to $555,000 in 2025. Separate houses dominate the stock at 87.2%, with semi-detached at 11.5% and apartments at just 1.3%, meaning detached family homes are the near-universal product on offer. Three-bedroom homes account for 40.3% of dwellings, while 4-plus bedroom homes make up 34.4%, a bedroom profile larger than many urban areas. Monthly mortgage repayments average $1,509, and the mortgage-to-income ratio of 29.4% stays below the 30% stress threshold. Outright owners at 47.9% far outnumber mortgage holders at 32.6%, reflecting the older, debt-free owner base that dominates this market.
For Investors
Mulwala presents a mixed investment picture. Weekly rent of $270 against a $550,000 median implies a gross yield around 2.6%, low but consistent with the town's appeal as an owner-occupier and holiday market rather than a rental one. The 19.5% renter share is well below the national average, and the 26.2% vacancy rate is high, driven largely by seasonal and holiday properties that are not permanently occupied. Development is active with 83 applications lodged in the past 12 months, most for dwelling houses, suggesting continued local construction interest. The household income at the 23.8th percentile nationally limits tenant affordability, which in turn caps rent growth and yield upside. Investors should weigh the holiday demand dynamic against thin permanent rental population.
Development Activity
Total DAs
498
Last 12 Months
88
YoY ChangeiYear-over-year change in DA lodgements
+15.8%
Avg DA CostiAverage estimated cost per DA in the past year
N/A
Monthly DA Lodgements
DA Categories
Schools in Mulwala iICSEA: school advantage index. 1000 = national avg, higher = more advantaged
Mulwala Public School
K-6 · 48 students
Demographics
The median age of 53 sits 13 years above the national figure, making Mulwala one of the older demographic profiles in regional NSW. This aging skew is reinforced by the retirement-phase household composition: 42.9% of families are couples without children, well above the national norm. Only 7.0% of residents were born overseas, which is 14.6 percentage points below the national figure, and ancestry is predominantly Anglo-Celtic, led by English (1,075), Irish (377) and Scottish (297). University qualifications reach just 12.7%, which is 17.4 points below the national average, consistent with the trade and agricultural economy of the broader Murray-Riverina region. Average household size is 2.3, slightly below the national figure of 2.5.
Age Distribution
Bedrooms
Dwelling Structure
87.2%
Houses
11.5%
Townhouse
1.3%
Apartment
Tenure
Ownership is the defining tenure pattern: 47.9% own outright and 32.6% carry a mortgage, together accounting for over 80% of households, with renters at just 19.5%. This heavily owned profile reflects the older population who have paid off their homes over decades, rather than a churn of new buyers entering the market. The stock is almost entirely separate houses at 87.2%, with 4-plus bedroom homes at 34.4% and 3-bedroom at 40.3%, giving a generous bedroom distribution. Prices moved from $540,000 in 2024 to $555,000 in 2025, a 2.8% gain. Rent at $270 per week is low by NSW standards, and rent-to-income at 22.8% keeps tenants below financial stress, compared to many urban centres where that ratio exceeds 30%.
Median House Price Trend
Source: State Valuer-General
Mortgage / mo
$1,509
Rent / wk
$270
HH Size
2.3
Personal Income / wk
$638
Vacancy Ratei% of dwellings unoccupied on Census night (ABS 2021)
26.2%
Unoccupied
350
Rent / IncomeiMedian rent as % of household income. Over 30% = housing stress
22.8%
Mortgage / IncomeiMedian mortgage as % of household income. Over 30% = housing stress
29.4%
Community Profile
Ancestry
Household Composition
42.9%
Couples, no children
1,834
Total families
Economy & Employment
Healthcare is the single largest industry at 19.1% of local employment (115 workers), followed closely by Construction at 18.6% (112 workers), Manufacturing at 11.4%, Education at 8.1% and Retail at 7.1%. By occupation, Managers (154) lead, followed by Community and Personal Service workers (131) and Professionals (130), with Clerical/Admin (122) and Labourers (118) rounding out the top five. The unemployment rate is low at 2.1%, with 20 residents recorded as unemployed, and the full-time employment rate among those employed reaches 63.9%. However, the labour participation rate of 44.3% is well below the national average, because the aging population places 898 residents outside the labour force entirely. Household income at the 23.8th percentile nationally reflects this structure.
Socio-Economic Indexes (SEIFA)iABS index ranking suburbs from 1 (most disadvantaged) to 10 (most advantaged)
Full-time
63.9%
Part-time
34.0%
Participation
44.3%
Employed
937
Occupations
Top Industries
University
12.7%
Postgraduate
1.6%
Born Overseas
7.0%
Dwellings
985
Transport to Work
Car dependency is high at 89.8% of residents driving to work, which is expected for a regional town without significant public transport. Walking and cycling account for 5.7% of commuters, above what many comparable rural centres see, likely aided by the town's flat lakeside terrain. Schools are not recorded within the suburb boundary in this dataset, so families rely on facilities in neighbouring areas. Housing stress is contained: rent-to-income at 22.8% and mortgage-to-income at 29.4% both sit below stress thresholds, suggesting the cost of living is manageable relative to local incomes. With 148 residents (6.3%) needing daily assistance and a median age of 53, community and aged-care services are a key local need, as reflected in Healthcare's position as the top employing industry at 19.1%.
Drive
89.8%
Public Transport
N/A
Walk / Cycle
5.7%
Work from Home
N/A
National Ranking iPercentile rank among ~15,000 AU suburbs. 90% = higher than 90% of suburbs
How Mulwala compares to ~15,000 Australian suburbs
Frequently Asked Questions
Is Mulwala a good suburb to live in?
Mulwala suits retirees and owner-occupiers well, with 47.9% of households owning their home outright and housing stress kept low, at a mortgage-to-income ratio of 29.4% and rent-to-income of 22.8%. The median age of 53 reflects an established, stable community, though younger families should weigh the limited local school listings and low public transport options.
What is the median house price in Mulwala?
The median house price in Mulwala is $550,000, up 2.8% from $540,000 in 2024 to $555,000 in 2025. Monthly mortgage repayments average $1,509, and weekly rent runs at $270. This is significantly more affordable than most NSW coastal markets.
What schools are in Mulwala?
No schools are recorded within the Mulwala suburb boundary in this dataset. Families typically access schools in neighbouring Yarrawonga (across the Murray in Victoria) or other nearby towns. The local university qualification rate is 12.7%, which is 17.4 points below the national average.
Is Mulwala safe?
Detailed crime statistics are not available for Mulwala in this dataset. As a proxy, the suburb has low unemployment at 2.1%, a stable residential population with 74.3% staying over 5 years, and housing stress below stress thresholds, factors generally associated with community stability in regional towns of similar size.
Is Mulwala good for property investment?
Returns are modest: weekly rent of $270 against a $550,000 median implies a gross yield around 2.6%, and the 26.2% vacancy rate reflects significant seasonal and holiday-use stock rather than sustained rental demand. The 19.5% renter share is below national average. Price growth of 2.8% over one year is stable but not accelerating, and 83 development applications in 12 months shows active new supply entering the market.
How is Mulwala's population changing?
Mulwala's population of 2,557 has a stable, aging profile with a median age of 53, which is 13 years above the national figure. Community turnover is low, with 74.3% of residents remaining in place over 5 years. The aging trend is reinforced by 42.9% of families being couples without children, compared to the younger family profile seen in faster-growing regional centres.
How much development is happening in Mulwala?
There were 83 development applications lodged in the past 12 months, mostly for dwelling houses, including both Complying Development Certificates and full Development Applications. This level of activity is notable for a town of 2,557 residents and reflects ongoing demand for new housing, likely driven by retirees and holiday-home buyers entering the market.
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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