Palm Cove
A vacancy rate of 26.1% is the defining number in Palm Cove, and it shapes almost everything else. With only 2,450 residents spread across 3.56 km2, this Far North Queensland coastal suburb runs a holiday and short-stay economy alongside permanent residency. The median age of 53 sits 13 years above the national figure, the highest aging signal in the brief, and couples without children account for 51.6% of families. At $469,000, the median house price is well below capital-city coastal benchmarks, while 36.2% of residents were born overseas compared to the national average of around 21.6%.
Population
2,450
Median Age
53.0
Household IncomeiMedian weekly household income (ABS Census)
$1,527/wk
DAs (12 months)iDevelopment Applications lodged in the past year
6
Median House
$469K
Estimated from rent (2025)
Palm Cove's median house price of $469,000 positions it far below most coastal QLD resort markets, making it accessible for buyers priced out of Noosa or the Whitsundays. Separate houses make up 66.6% of stock and apartments 21.5%, so buyers have relatively broad choice in dwelling type. The most common configurations are 3-bedroom (36.3%) and 4-plus bedroom (32.4%), giving families a practical range. Monthly mortgage repayments average $1,733 against a household income of $1,527 per week, producing a mortgage-to-income ratio of 26.2%, below the 30% stress threshold. Outright owners represent 41.2% of households, above the national norm, signalling an established owner base. Buyers should factor in the 26.1% vacancy rate, which signals substantial short-stay supply competing with owner-occupier resale.
For Buyers
Palm Cove's median house price of $469,000 positions it far below most coastal QLD resort markets, making it accessible for buyers priced out of Noosa or the Whitsundays. Separate houses make up 66.6% of stock and apartments 21.5%, so buyers have relatively broad choice in dwelling type. The most common configurations are 3-bedroom (36.3%) and 4-plus bedroom (32.4%), giving families a practical range. Monthly mortgage repayments average $1,733 against a household income of $1,527 per week, producing a mortgage-to-income ratio of 26.2%, below the 30% stress threshold. Outright owners represent 41.2% of households, above the national norm, signalling an established owner base. Buyers should factor in the 26.1% vacancy rate, which signals substantial short-stay supply competing with owner-occupier resale.
For Investors
The rental market here runs under different conditions than a typical suburban suburb. Weekly rent averages $365, and 31.1% of dwellings are rented, but the 26.1% vacancy rate is a significant yield constraint. That vacancy reflects the area's high short-term accommodation share, confirmed by recent DA activity including a 2026 application for Multiple Dwelling and Short-Term Accommodation. Only 5 development applications were lodged in the past 12 months, below thresholds suggesting active new supply pressure. Hospitality accounts for 16.4% of local employment, higher than most comparable coastal suburbs, and healthcare is the top sector at 19.7%. Investors should weigh the low entry price against thin long-term rental demand and a local economy that tilts toward tourism rather than population-driven growth.
Development Activity
Total DAs
6
Last 12 Months
6
YoY ChangeiYear-over-year change in DA lodgements
—
Avg DA CostiAverage estimated cost per DA in the past year
N/A
Monthly DA Lodgements
DA Categories
Demographics
The median age of 53 is 13 years above the national figure, the sharpest age gap in this brief, and it shows in the household composition: 51.6% of families are couples without children. Overseas-born residents reach 36.2%, which is 14.6 percentage points above the national average, driven largely by English, Irish and Scottish ancestry rather than non-English-speaking migration. Non-English languages are sparse, with German (18 speakers) and Japanese (11) the only groups recorded, consistent with European and Japanese tourism-linked settlement. University qualifications stand at 30.8%, just 0.7 points above the national rate, so educational attainment is at the national average despite the affluent coastal profile. Average household size of 2.1 is 0.4 below national, consistent with the older, couple-dominant household structure.
Age Distribution
Bedrooms
Dwelling Structure
66.6%
Houses
12.0%
Townhouse
21.5%
Apartment
Tenure
Tenure splits show 41.2% own outright, 27.7% carry a mortgage and 31.1% rent, with outright owners significantly above the national proportion. The dominant stock type is separate houses at 66.6%, followed by apartments at 21.5% and semi-detached at 12.0%. Bedroom distribution skews larger: 36.3% are 3-bedroom and 32.4% are 4-plus bedroom, with smaller dwellings (0-1 bedroom) at just 7.2%. The median house price of $469,000 remains well below the Queensland state coastal median for comparable resort areas. Rent-to-income at 23.9% is within comfortable range for renters. The 26.1% vacancy rate is the key anomaly, higher than any standard residential suburb, because the stock includes a large proportion of holiday let and short-term accommodation properties that are vacant between bookings.
Mortgage / mo
$1,733
Rent / wk
$365
HH Size
2.1
Personal Income / wk
$797
Vacancy Ratei% of dwellings unoccupied on Census night (ABS 2021)
26.1%
Unoccupied
353
Rent / IncomeiMedian rent as % of household income. Over 30% = housing stress
23.9%
Mortgage / IncomeiMedian mortgage as % of household income. Over 30% = housing stress
26.2%
Community Profile
Languages Spoken at Home
Ancestry
Household Composition
51.6%
Couples, no children
1,708
Total families
Economy & Employment
Healthcare leads at 19.7% of local employment (154 workers), followed closely by Hospitality at 16.4% (128 workers), a split that reflects both the aging population's care needs and the resort economy. Education accounts for 9.0% and Construction 7.8%, with Professional/Technical services at 7.2%. The occupation profile has Professionals at 242 and Managers at 217 as the top two categories, higher than working-class proportions. Full-time employment runs at 60.0% of those employed, with 438 part-time workers alongside 657 full-time, consistent with hospitality's part-time structure. The unemployment rate of 5.8% sits above what coastal resort economies typically show, and the participation rate of 53.3% is low because 779 residents are not in the labour force, which aligns with the older median age and likely retirement cohort.
Socio-Economic Indexes (SEIFA)iABS index ranking suburbs from 1 (most disadvantaged) to 10 (most advantaged)
Full-time
60.0%
Part-time
34.2%
Participation
53.3%
Employed
1,095
Occupations
Top Industries
University
30.8%
Postgraduate
9.6%
Born Overseas
36.2%
Dwellings
987
Transport to Work
Transport behaviour is distinctive: 82.0% of residents drive to work, above the national car-dependency rate, while just 1.9% use public transport, well below the national average. Walking and cycling account for 9.6%, high for a regional suburb, consistent with a low-density coastal environment where destinations are close. No schools are recorded within the suburb, so families with children depend on institutions outside the 3.56 km2 boundary. Crime data is not available for this suburb. The volunteering rate of 13.1% is modest. Housing stress is absent at current income levels: rent-to-income sits at 23.9% and mortgage-to-income at 26.2%, both below the 30% stress threshold. The need-for-assistance rate of 5.4% (122 residents) is moderate, reflecting the older age profile rather than deprivation.
Drive
82.0%
Public Transport
1.9%
Walk / Cycle
9.6%
Work from Home
N/A
National Ranking iPercentile rank among ~15,000 AU suburbs. 90% = higher than 90% of suburbs
How Palm Cove compares to ~15,000 Australian suburbs
Frequently Asked Questions
Is Palm Cove a good suburb to live in?
Palm Cove suits retirees and lifestyle-focused residents more than young families. The median age of 53 is 13 years above the national figure, 51.6% of families are couples without children, and the resort setting means 82.0% of residents drive everywhere due to minimal public transport. Housing stress is low, with mortgage-to-income at 26.2% and rent-to-income at 23.9%.
What is the median house price in Palm Cove?
The median house price is $469,000, estimated from 2025 rental data. Monthly mortgage repayments average $1,733 against a weekly household income of $1,527. Separate houses make up 66.6% of stock and the most common configurations are 3-bedroom (36.3%) and 4-plus bedroom (32.4%).
What schools are in Palm Cove?
No schools are recorded within the Palm Cove suburb boundary in this dataset. Families rely on schools in neighbouring Cairns-area suburbs. Despite no local schools, 30.8% of residents hold university qualifications, which is above the national average.
Is Palm Cove safe?
Detailed crime statistics are not available for Palm Cove in this dataset. As contextual indicators, the suburb has a low housing stress rate, with mortgage-to-income at 26.2% and rent-to-income at 23.9%, both below the 30% threshold. Only 5.4% of residents (122 people) need daily assistance.
Is Palm Cove good for property investment?
The entry price of $469,000 is lower than many QLD coastal resort markets, but the 26.1% vacancy rate is the key risk for investors. Weekly rent averages $365 and 31.1% of dwellings are rented. With only 5 development applications in 12 months, new supply is limited, though short-term accommodation competes heavily with long-term rentals.
How is Palm Cove's population changing?
Palm Cove has a population of 2,450 across 3.56 km2, with a density of 687.8 per km2. No population forecast data is available in this brief. Residential stability is moderate, with 65.7% of residents staying in place over the reference period. The aging median age of 53 and low 53.3% participation rate suggest the suburb skews toward retirement rather than workforce growth.
What languages are spoken in Palm Cove?
About 36.2% of Palm Cove residents were born overseas, which is 14.6 percentage points above the national average. However, non-English language use is low: German (18 speakers) and Japanese (11) are the only non-English languages recorded, suggesting most overseas-born residents come from English-speaking countries.
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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