Myrtleford
With a median age of 50, Myrtleford sits 10 years above the national figure, making it one of the more distinctly age-skewed communities in regional Victoria. Household income falls in the 21.4th percentile nationally, well below average, yet the median house price reached $540,000 as of April-June 2024, reflecting the region's broader lift from historically low base values. The suburb covers 79.67 square kilometres and records a population density of just 41.2 persons per km2. An 11.7% vacancy rate is notably above typical regional benchmarks and is consistent with the aging demographic, as residents age out of the labour force and household formation slows.
Population
3,285
Median Age
50.0
Household IncomeiMedian weekly household income (ABS Census)
$1,143/wk
DAs (12 months)iDevelopment Applications lodged in the past year
6
Median House
$540K
Apr-Jun 2024
The $540,000 median house price as of April-June 2024 represents a 145.5% rise from the $220,000 recorded in 2013, equivalent to a 6.6% compound annual growth rate over 14 years. Prices peaked at $609,000 in 2022 and have pulled back 11.3% since then, so buyers now enter below the peak. Mortgage repayments average $1,300 per month and the mortgage-to-income ratio sits at 26.3%, below the 30% stress threshold, making repayments more manageable than in many metro markets. Stock is almost entirely separate houses at 91.4%, with three-bedroom homes dominant at 55.1% and four-plus bedroom dwellings at 24.5%. The high outright-ownership rate of 48.3% compared to a 28.2% mortgage rate signals a mature, debt-light ownership base.
For Buyers
The $540,000 median house price as of April-June 2024 represents a 145.5% rise from the $220,000 recorded in 2013, equivalent to a 6.6% compound annual growth rate over 14 years. Prices peaked at $609,000 in 2022 and have pulled back 11.3% since then, so buyers now enter below the peak. Mortgage repayments average $1,300 per month and the mortgage-to-income ratio sits at 26.3%, below the 30% stress threshold, making repayments more manageable than in many metro markets. Stock is almost entirely separate houses at 91.4%, with three-bedroom homes dominant at 55.1% and four-plus bedroom dwellings at 24.5%. The high outright-ownership rate of 48.3% compared to a 28.2% mortgage rate signals a mature, debt-light ownership base.
For Investors
Rental demand is moderate, with 23.5% of households renting and weekly rent at $250. Against the $540,000 median, that implies a gross yield near 2.4%, low but higher than many metropolitan markets. The 11.7% vacancy rate is a concern because it is above the 3% threshold generally associated with balanced rental conditions, suggesting supply outpaces demand. Development activity recorded just 6 applications in the past 12 months, all subdivision permits with no new dwelling construction, limiting short-term supply pressure. Net internal migration averages minus 20 persons per year while net overseas migration adds 15, leaving population growth near flat at minus 0.06% annually. The investment thesis rests on the 6.6% CAGR over 14 years continuing as affordability remains attractive compared to metro Victoria, not on rental yield.
Development Activity
Total DAs
21
Last 12 Months
6
YoY ChangeiYear-over-year change in DA lodgements
+20.0%
Avg DA CostiAverage estimated cost per DA in the past year
N/A
Monthly DA Lodgements
DA Categories
Schools in Myrtleford iICSEA: school advantage index. 1000 = national avg, higher = more advantaged
St Mary's School
Prep-6 · 143 students
Marian College
7-12 · 145 students
Myrtleford P-12 College
Prep-12 · 405 students
Demographics
The median age of 50 is 10 years above the national figure, and the trajectory is aging: the senior share rose 5.2 points while the working-age share fell 2.7 points over the decade. University qualifications reach 19.9%, which is 10.2 percentage points below the national rate, consistent with a regional economy centred on healthcare, manufacturing and trades rather than knowledge-sector employment. Overseas-born residents make up 17.0%, which is 4.6 percentage points below national. The dominant ancestry is English (1,202 residents), followed by Italian (655), an unusually strong Italian heritage for a Victorian regional town reflecting post-war migration to the timber and tobacco industries. Average household size is 2.2, slightly below the national average of 2.5.
Age Distribution
Bedrooms
Dwelling Structure
91.4%
Houses
7.4%
Townhouse
0.4%
Apartment
Tenure
Tenure is skewed toward outright ownership: 48.3% of households own without a mortgage, compared to 28.2% carrying a mortgage and 23.5% renting, a split that reflects the older resident base and long tenure. The stock is 91.4% separate houses, with semi-detached at 7.4% and apartments at just 0.4%, far more detached-dominant than the national average. Three-bedroom homes account for 55.1% and four-plus bedrooms 24.5%, giving a predominantly family-sized stock despite the aging population. The median house price rose from $220,000 in 2013 to $540,000 in April-June 2024, a 145.5% total gain. Monthly mortgage repayments average $1,300 and the rent-to-income ratio at 21.9% is below the 30% stress threshold, meaning both owners and renters face limited housing cost pressure relative to income.
Median House Price Trend
Source: State Valuer-General
Mortgage / mo
$1,300
Rent / wk
$250
HH Size
2.2
Personal Income / wk
$653
Vacancy Ratei% of dwellings unoccupied on Census night (ABS 2021)
11.7%
Unoccupied
181
Rent / IncomeiMedian rent as % of household income. Over 30% = housing stress
21.9%
Mortgage / IncomeiMedian mortgage as % of household income. Over 30% = housing stress
26.3%
Community Profile
Languages Spoken at Home
Ancestry
Household Composition
37.4%
Couples, no children
2,462
Total families
Economy & Employment
Healthcare dominates the local economy at 23.3% of employed residents (215 workers), roughly double the share of any other sector, because the aging population generates sustained healthcare demand and the town serves as a service centre for the surrounding Alpine Shire. Manufacturing is second at 11.6% (107 workers), reflecting the area's timber processing and food manufacturing heritage. Education accounts for 10.2% (94 workers) and construction 9.5% (88 workers). By occupation, Professionals (218) and Labourers (217) are almost equally matched, an unusual balance that reflects the dual healthcare-trades structure. The unemployment rate is low at 3.1%, but participation sits at 49.5%, well below national norms, because 1,129 residents are not in the labour force due to the high proportion of retirees. The SEIFA IRSD and IRSAD deciles both sit at 4, indicating below-average socioeconomic advantage compared to national benchmarks.
Unemployment
4.2%
Labour Force
2,403
Unemployed
102
Quarterly Trend
Source: SALM Dec-25
Socio-Economic Indexes (SEIFA)iABS index ranking suburbs from 1 (most disadvantaged) to 10 (most advantaged)
Full-time
56.0%
Part-time
40.9%
Participation
49.5%
Employed
1,331
Occupations
Top Industries
University
19.9%
Postgraduate
3.4%
Born Overseas
17.0%
Dwellings
1,364
Transport to Work
Car dependency is high: 85.0% of residents drive to work, compared to 8.3% who walk or cycle and just 0.8% using public transport, reflecting the limited transit options typical of regional Alpine Shire towns. The IRSAD decile of 4 places the suburb in the lower half nationally for socioeconomic advantage, consistent with below-average incomes and qualification levels. The volunteering rate of 18.9% is above what lower-income areas typically record, pointing to a cohesive community in a town where 82.3% of residents stayed in the same address over the five-year period. The need-for-assistance rate of 9.4% (295 persons) is elevated compared to younger-skewing suburbs, which is expected given the median age of 50 and the large retiree population. No schools are recorded within the suburb boundary in this dataset, so families rely on schooling infrastructure in nearby Alpine Shire centres.
Drive
85.0%
Public Transport
0.8%
Walk / Cycle
8.3%
Work from Home
N/A
Population Forecast
-0.06%/yr
(-3 people/yr)
EstablishedPopulation has been effectively flat over recent history, recorded at 4,637 in 2023, 4,606 in 2024 and 4,635 in 2025. The medium forecast projects a slow decline to 4,633 by 2031, driven by minus 20 net internal migrants per year partially offset by plus 15 net overseas arrivals. The 10-year population change was 5.2%, modest compared to high-growth corridors, and the annual rate is minus 0.06%. Rent growth of 47.1% over the period outpaced real income growth of 24.5%, a divergence that tightened affordability even as the housing stock stayed overwhelmingly owner-occupied. The gentrification score sits at 51 with an active stage rating in the broader trend data, though the suburb-specific gentrification signals are absent, suggesting gradual rather than accelerating change.
Historical + Forecast
Hamilton-Perry + Holt smoothing on ERP 2001-2025
Age Cohort Forecast
Primary Driver
Balanced
Net Overseas / yr
+15
Net Internal / yr
-20
Gentrification Signal
Not gentrifying
Safety & Crime
Total Offences
242
Year ending June 2024
Rate per 1,000 People
73.7
Offence Categories
Source: Crime Statistics Agency Victoria / SA Police
National Ranking iPercentile rank among ~15,000 AU suburbs. 90% = higher than 90% of suburbs
How Myrtleford compares to ~15,000 Australian suburbs
Frequently Asked Questions
Is Myrtleford a good suburb to live in?
Myrtleford suits buyers seeking affordable regional living with low housing stress. The mortgage-to-income ratio is 26.3% and rent-to-income is 21.9%, both below the 30% stress threshold. The IRSAD decile of 4 indicates below-average socioeconomic advantage compared to national benchmarks, and car ownership is essential as only 0.8% of residents use public transport.
What is the median house price in Myrtleford?
The median house price is $540,000 as of April-June 2024. Prices peaked at $609,000 in 2022 and are currently 11.3% below that peak. Over the longer term, the median rose 145.5% from $220,000 in 2013, a compound annual growth rate of 6.6% over 14 years. Monthly mortgage repayments average $1,300.
What schools are in Myrtleford?
No schools are recorded inside the Myrtleford suburb boundary in this dataset. Families rely on schooling in nearby Alpine Shire centres. The local university qualification rate is 19.9%, which is 10.2 percentage points below the national average, consistent with a workforce focused on healthcare, trades and manufacturing.
Is Myrtleford safe?
The total recorded crime count is 242 incidents, giving a rate of 73.7 per 1,000 residents. Crimes against the person account for 118 incidents and property and deception offences for 75. This rate is higher than many outer suburban areas and reflects the challenges common to regional service towns where policing catchments cover wide rural areas.
Is Myrtleford good for property investment?
The 6.6% compound annual growth rate from 2013 to 2024 is the main investment case, as prices rose from $220,000 to $540,000. Weekly rent of $250 against the $540,000 median implies a gross yield near 2.4%. However, the 11.7% vacancy rate is above healthy rental market levels, and population growth is near zero at minus 0.06% annually, limiting demand drivers.
How is Myrtleford's population changing?
Population has been flat, sitting at 4,637 in 2023, 4,606 in 2024 and 4,635 in 2025. The medium forecast projects a gradual decline to 4,633 by 2031. Net internal migration runs at minus 20 persons per year while net overseas arrivals add 15. The demographic trajectory is aging, with the senior share up 5.2 points over the decade.
What industries employ people in Myrtleford?
Healthcare is the largest employer at 23.3% of the workforce (215 workers), driven by the aging population and the town's role as a regional service centre. Manufacturing is second at 11.6% (107 workers), followed by Education at 10.2% (94 workers) and Construction at 9.5% (88 workers). The unemployment rate is low at 3.1%, though participation is just 49.5% because many residents are retired.
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.
Explore Myrtleford on the Map
View parcels, zoning overlays, DA applications, schools and more.
Open Interactive Map