New Farm
More than half of New Farm's occupied dwellings are rented, with 54.4% renting and 74.8% of homes in apartments. The suburb packs 12,197 residents into 2.06 sq km, reaching a density of 5,920.3 people per sq km, while vacancy sits at 12.4%. Household income is relatively strong at the 77.8th percentile, and 56.1% of residents have university qualifications, 26 percentage points above the national figure. Compared with lower-density Brisbane suburbs, New Farm has smaller households and a more tenure-flexible housing pattern. Its inner-city setting places it alongside Teneriffe and Fortitude Valley, appealing to professionals, downsizers and renters who value urban access, though apartment supply and high turnover can make building quality and leasing conditions uneven.
Population
12,197
Median Age
39.0
Household IncomeiMedian weekly household income (ABS Census)
$2,069/wk
DAs (12 months)iDevelopment Applications lodged in the past year
107
Homebuyers need to assess New Farm by dwelling type because a current median house price is not available. Apartments account for 74.8% of homes, compared with 20.5% separate houses, while 41.1% of dwellings have 2 bedrooms and 22.9% have 0 or 1 bedroom. A monthly mortgage benchmark of $2,264 sits alongside weekly rent of $405, with mortgage costs equal to 25.3% of household income and rent equal to 19.6%. Since 54.4% of residents rent and only 24.3% own outright, the market is oriented toward compact, flexible housing. Compared with a detached-house purchase, an apartment may reduce the entry cost but can introduce body-corporate fees, parking limits and shared-building maintenance risks.
For Buyers
Homebuyers need to assess New Farm by dwelling type because a current median house price is not available. Apartments account for 74.8% of homes, compared with 20.5% separate houses, while 41.1% of dwellings have 2 bedrooms and 22.9% have 0 or 1 bedroom. A monthly mortgage benchmark of $2,264 sits alongside weekly rent of $405, with mortgage costs equal to 25.3% of household income and rent equal to 19.6%. Since 54.4% of residents rent and only 24.3% own outright, the market is oriented toward compact, flexible housing. Compared with a detached-house purchase, an apartment may reduce the entry cost but can introduce body-corporate fees, parking limits and shared-building maintenance risks.
For Investors
New Farm has a substantial rental base, with 54.4% of dwellings rented and weekly rent recorded at $405. The 12.4% vacancy rate creates more tenant choice than a tightly held market, so investors should allow for competition between similar apartments and avoid assuming automatic rent growth. Development activity is also material, with 106 applications in the past 12 months, while 74.8% of the housing stock is already apartment-based. Compared with owner-led suburbs, this profile can provide deeper tenant demand but greater exposure to new competing supply. Rent growth of 15.7% supports the recent income story, although a reliable yield cannot be calculated without a current sale-price benchmark. Overseas migration is the main forecast growth driver, which may support ongoing demand for centrally located rentals.
Development Activity
Total DAs
362
Last 12 Months
107
YoY ChangeiYear-over-year change in DA lodgements
+39.0%
Avg DA CostiAverage estimated cost per DA in the past year
N/A
Monthly DA Lodgements
DA Categories
Schools in New Farm
Open-register school locations for education access. This is not a school-quality ranking.
Holy Spirit School (New Farm)
New Farm State School
Demographics
New Farm has a median age of 39, one year below the national comparison, and 56.1% of residents hold university qualifications, 26 percentage points above the national figure. Overseas-born residents account for 29.8%, or 8.2 percentage points above the national comparison. Average household size is 1.9 people, 0.6 below the national figure, reflecting the suburb's 59.1% share of couples without children and compact apartment stock. English, Irish and Scottish ancestry are prominent, with counts of 4,576, 2,133 and 1,578 respectively, while no religion is reported by 5,624 residents compared with 4,834 identifying with Christianity. Turnover is high at 37.9%, because inner-city renters and professionals are more mobile than long-established outer-suburban households.
Age Distribution
Bedrooms
Dwelling Structure
20.5%
Houses
4.4%
Townhouse
74.8%
Apartment
Tenure
New Farm's housing is strongly apartment-led: 74.8% of dwellings are apartments, compared with 20.5% separate houses and 4.4% semi-detached homes. Two-bedroom dwellings represent 41.1% of stock, followed by 3-bedroom homes at 23.7%, 0 or 1-bedroom homes at 22.9% and 4 or more bedrooms at 12.4%. Renting is the largest tenure at 54.4%, ahead of outright ownership at 24.3% and mortgages at 20.5%. Vacancy is 12.4%, which is high compared with a tightly held market and can give renters more negotiating room. Mortgage costs equal 25.3% of household income, while rent equals 19.6%. Compared with detached-house suburbs, New Farm provides more compact urban housing, but apartment fees, parking and building condition materially affect total costs.
Mortgage / mo
$2,264
Rent / wkiMedian weekly rent for new bonds (Jun 2026 quarter), QLD RTA bond data. Census 2021 median: $405.
$1,050
Bond data Jun 2026 quarter · houses $1,050 · units $780
HH Size
1.9
Personal Income / wk
$1,226
Vacancy Ratei% of dwellings unoccupied on Census night (ABS 2021)
12.4%
Unoccupied
809
Rent / IncomeiMedian rent as % of household income. Over 30% = housing stress
19.6%
Mortgage / IncomeiMedian mortgage as % of household income. Over 30% = housing stress
25.3%
Community Profile
Languages Spoken at Home
Ancestry
Household Composition
28.1%
Couples with children
59.1%
Couples, no children
10.1%
Single parent
2,809
Total families
Economy & Employment
New Farm's economy is concentrated in knowledge and service industries. Professional and technology work accounts for 21.2% of employment, or 1,220 people, followed by healthcare at 17.2% and 989 people, education at 8.5% and 488, public administration at 6.7% and 384, and hospitality at 6.4% and 370. Professionals number 2,990 and managers 1,293, matching a personal weekly income of $1,226 and household income at the 77.8th percentile. Participation is 67.9%, unemployment is 4.2% and full-time employment is 65.0%. The SEIFA pattern is uneven: IEO ranks in decile 10, IRSD and IRSAD in decile 9, but IER is in decile 3. Compared with the strong education and occupation results, the lower economic-resources decile suggests that high skills do not translate evenly into household financial security.
Unemployment
4.2%
Labour Force
7,511
Unemployed
317
Source: ABS Census 2021
Socio-Economic Indexes (SEIFA)iABS index ranking suburbs from 1 (most disadvantaged) to 10 (most advantaged)
Full-time
65.0%
Part-time
26.4%
Participation
67.9%
Employed
7,194
Full-time and part-time are shares of the employed. Source: ABS Census 2021
Occupations
Top Industries
University
56.1%
Postgraduate
16.0%
Born Overseas
29.8%
Dwellings
5,682
Transport to Work
New Farm's density of 5,920.3 people per sq km supports short local trips, with 14.6% walking or cycling and 9.3% using public transport, although 40.7% drive a car and 31.6% work from home. Families have access to 2 local schools, with 1 government state school and 1 Catholic non-state school. Exact catchments and enrolment rules should be checked against the address because school boundaries can cut across nearby streets. Compared with car-dependent suburbs, the mix of walking, cycling and public transport is more practical for inner-city routines, while high density makes parking and traffic management important. New Farm records IRSAD and IRSD scores in decile 9, above the national midpoint, supporting access to many services. For safety decisions, inspect recent incident patterns, lighting, building access and walking routes at different times because conditions can vary across 2.06 sq km.
Drive
40.7%
Public Transport
9.3%
Walk / Cycle
14.6%
Work from Home
31.6%
Population Forecast
+0.59%/yr
(+82 people/yr)
EstablishedNew Farm is an established suburb with a forecast annual trend of 0.59%, and overseas migration is the primary growth driver. Population change across the wider area is forecast at 6.2% over 10 years, while the trajectory is labelled Aging, with the senior share up 3.8% and the working share down 2.8%. Gentrification remains at the Early signs stage, with a score of 24, and rent growth has reached 15.7%. Compared with a rapid-growth corridor, this is a steadier profile because much of the suburb is already built up and densely occupied. The area also recovered from a COVID dip of 5.7%, followed by 8.3% recovery. These signals point to gradual change shaped by overseas arrivals, ageing households and continued pressure on established apartment and rental stock.
Historical + Forecast
Hamilton-Perry + Holt smoothing on ERP 2001-2025
Age Cohort Forecast
Primary Driver
Overseas Migration
Net Overseas / yr
+371
Net Internal / yr
-68
Gentrification Signal
Early signs
Population +11% since 2011, Strong overseas inflow +371/yr, COVID recovered (-6% dip → full recovery)
National Ranking iPercentile rank among ~15,000 AU suburbs. 90% = higher than 90% of suburbs
How New Farm compares to ~15,000 Australian suburbs
Frequently Asked Questions
Is New Farm a good suburb to live in?
New Farm suits residents who value inner-city access, apartment living and a professional setting. It has 5,920.3 people per sq km, 74.8% apartments and 31.6% working from home. Compared with lower-density suburbs, space and parking are more constrained, while the 12.4% vacancy rate can create more choice for renters.
What is the median house price in New Farm?
A current median house price is not available for New Farm. Buyers should compare individual sales because 74.8% of dwellings are apartments and only 20.5% are separate houses. The 2-bedroom share is 41.1%, so dwelling type, body-corporate costs and building condition can materially change the price comparison.
What schools are in New Farm?
New Farm has 2 local schools: New Farm State School, a government school, and Holy Spirit School, a Catholic non-state school. Families should check catchment boundaries and enrolment requirements against the exact address, because school access can vary within the suburb's 2.06 sq km area.
Is New Farm safe?
Safety should be assessed at street level rather than assumed across the whole suburb. Review recent incident patterns, lighting, building access and walking routes before choosing an address. New Farm has 12,197 residents in 2.06 sq km, so busy commercial areas, park edges and residential blocks can feel different at various times.
Is New Farm good for property investment?
New Farm can suit investors seeking established inner-city rental demand: 54.4% of dwellings are rented and weekly rent is $405. However, the 12.4% vacancy rate and 106 development applications in 12 months may increase competition between apartments. Compare body-corporate fees, maintenance plans and leasing history before estimating returns.
How is New Farm's population changing?
New Farm follows an Aging trajectory, with population change across the wider area of 6.2% over 10 years and an annual trend of 0.59%. Overseas migration is the primary driver, while the senior share has increased by 3.8%. Compared with a younger growth profile, this suggests steady rather than rapid change.
Is there much development in New Farm?
Development activity is material, with 106 applications recorded over 12 months. Because 74.8% of the housing stock is already apartments, new work and alterations may affect local supply, construction activity and streetscape conditions more than in a detached-house suburb. Review each property's approvals, timelines and construction impacts before buying.
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 education open registers (school locations), 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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