Penola
Penola's 17.0% vacancy rate is a more striking feature than its modest growth outlook. The town has 1,622 residents, a median age of 47 that is 7 years above the national figure, and a detached-housing share of 90.4%. Its density is just 6.4 people per square kilometre, giving Penola a lower-density profile than nearby Naracoorte. A forecast trend of -0.06% annually and population change of 1.0% across 10 years point to a settled rural service town rather than a fast-expanding market.
Local council: Wattle Range
Population
1,622
Median Age
47.0
Household IncomeiMedian weekly household income (ABS Census)
$1,369/wk
DAs (12 months)iDevelopment Applications lodged in the past year
34
Penola suits buyers who prioritise detached space, manageable housing costs and a slower pace, although individual properties need careful comparison because a current suburb-wide sale median is not available. Separate houses account for 90.4% of dwellings, with 58.3% containing 3 bedrooms and 24.2% containing 4 or more. Mortgage repayments average $1,050 monthly, with mortgage costs equal to 17.7% of household income and no mortgage stress flag. Weekly rent is $198, while only 1.3% of dwellings are apartments, far lower than the separate-house share. Buyers should also budget for car use, as 79.7% drive to work and public transport accounts for 0.6%.
For Buyers
Penola suits buyers who prioritise detached space, manageable housing costs and a slower pace, although individual properties need careful comparison because a current suburb-wide sale median is not available. Separate houses account for 90.4% of dwellings, with 58.3% containing 3 bedrooms and 24.2% containing 4 or more. Mortgage repayments average $1,050 monthly, with mortgage costs equal to 17.7% of household income and no mortgage stress flag. Weekly rent is $198, while only 1.3% of dwellings are apartments, far lower than the separate-house share. Buyers should also budget for car use, as 79.7% drive to work and public transport accounts for 0.6%.
For Investors
Penola's rental profile is affordable but carries vacancy risk. Weekly rent is $198, 22.5% of households rent, and rent absorbs 14.5% of household income without a rent-stress flag. However, the 17.0% vacancy rate is high, so leasing periods and tenant demand deserve more attention than headline rent alone. Thirty development applications were recorded over 12 months, indicating ongoing local activity, though the examples are not evidence of a large new dwelling pipeline. Compared with a high-growth market, Penola's -0.06% annual trend and balanced migration point to slower demand momentum. The aging trajectory may support stable housing needs, but it can also limit rapid rent and price escalation.
Development Activity
Total DAs
246
Last 12 Months
34
YoY ChangeiYear-over-year change in DA lodgements
-10.5%
Avg DA CostiAverage estimated cost per DA in the past year
N/A
Monthly DA Lodgements
DA Categories
Schools in Penola
Open-register school locations for education access. This is not a school-quality ranking.
Penola Primary School
Penola High School
Demographics
Penola has an older and more settled population than Australia overall. The median age is 47, or 7 years above the national figure, while university attainment at 22.9% is 7.2 percentage points below the national level. The overseas-born share is 9.1%, 12.5 points below the national figure, and average household size is 2.2 people, 0.3 below the national average. English ancestry is reported by 645 residents, followed by Scottish at 226, Irish at 157 and German at 116. No religion accounts for 761 people compared with 678 identifying with Christianity. With 84.8% staying at the same address and turnover at 15.2%, Penola is more stable and less mobile than a typical growth suburb.
Age Distribution
Bedrooms
Dwelling Structure
90.4%
Houses
6.8%
Townhouse
1.3%
Apartment
Tenure
Penola's housing stock is strongly detached and ownership-oriented. Separate houses make up 90.4% of dwellings, compared with 1.3% apartments and 6.8% semi-detached homes. Outright ownership at 40.2% is higher than mortgage ownership at 32.7%, while 22.5% rent and 4.7% hold another tenure type. Three-bedroom homes dominate at 58.3%, followed by 4 or more bedrooms at 24.2%, so the stock is better suited to conventional houses than small-unit living. Weekly rent is $198 and vacancy is 17.0%, which gives tenants more choice than in tighter markets. Mortgage costs equal 17.7% of household income, below rent's 14.5% only when comparing different payment periods, so buyers should assess both cash flow and property condition.
Mortgage / mo
$1,050
Rent / wkiABS Census 2021 median across all dwelling types. Current market rents are typically higher.
$198
Census 2021
HH Size
2.2
Personal Income / wk
$804
Vacancy Ratei% of dwellings unoccupied on Census night (ABS 2021)
17.0%
Unoccupied
132
Rent / IncomeiMedian rent as % of household income. Over 30% = housing stress
14.5%
Mortgage / IncomeiMedian mortgage as % of household income. Over 30% = housing stress
17.7%
Community Profile
Ancestry
Household Composition
37.9%
Couples with children
49.2%
Couples, no children
11.0%
Single parent
417
Total families
Economy & Employment
Penola's economy is anchored by production and essential services. Manufacturing is the largest industry at 24.4% with 112 workers, followed by agriculture at 19.0% and 87 workers. Education accounts for 12.6% and healthcare 11.5%, while retail contributes 5.7%. The main occupations are managers and labourers at 166 people each, followed by professionals at 112 and trades at 100. Unemployment is 2.2% across a labour force of 845, with participation at 63.0% and full-time employment at 61.0%. Household income is $1,369 weekly, at the 35.4th percentile. The IRSAD decile of 2 is lower than the IER decile of 4, suggesting broad socioeconomic advantage is weaker than the local economic-resource measure alone implies.
Unemployment
2.2%
Labour Force
845
Unemployed
19
Source: ABS Census 2021
Socio-Economic Indexes (SEIFA)iABS index ranking suburbs from 1 (most disadvantaged) to 10 (most advantaged)
Full-time
61.0%
Part-time
32.0%
Participation
63.0%
Employed
826
Full-time and part-time are shares of the employed. Source: ABS Census 2021
Occupations
Top Industries
University
22.9%
Postgraduate
2.7%
Born Overseas
9.1%
Dwellings
635
Transport to Work
Penola provides a compact town setting with practical local services, but daily travel is car-dependent. Two local schools cover government primary and secondary education, giving families access to both main school stages within the town. Public transport is used by 0.6% of commuters, compared with 79.7% who drive, while 4.7% walk or cycle and 9.0% work from home. Recorded crime totals 29 incidents, with a rate of 17.9 per 1,000 residents. The IRSAD decile is 2, lower than the IER decile of 4, so service access and household resources may vary across residents. Penola's 6.4 people per square kilometre and 2.2-person average household size support a quieter setting than denser regional centres, but distance and vehicle access remain important.
Drive
79.7%
Public Transport
0.6%
Walk / Cycle
4.7%
Work from Home
9.0%
Growth Outlook
Penola has an aging, slow-growth outlook rather than a rapid expansion cycle. The forecast annual trend is -0.06%, migration is classified as Balanced, and population change across the wider area is 1.0% over 10 years. The shift trajectory is Aging, with the senior share up 6.8 percentage points and the young share down 2.7 points. Rent growth of 29.3% indicates housing costs have still moved upward despite limited population momentum. Gentrification is assessed as Not gentrifying, with a score of 0, while real income growth is 11.8%. These signals suggest demand is shaped more by established households, services and gradual demographic change than by major new migration or redevelopment.
Population trend: Wattle Range council area
Penola sits in the Wattle Range council area. These are the council area's residents, not Penola's.
Residents 2025
12,378
Growth, 5 yr average
+0.5%/yr
2020 to 2025
Growth, last year
+0.1%
2024 to 2025
ABS Estimated Resident Population by LGA, 30 June each year; council area, not this suburb
Safety & Crime
Total Offences
29
Year ending June 2024
Rate per 1,000 People
17.9
Source: Crime Statistics Agency Victoria / SA Police
National Ranking iPercentile rank among ~15,000 AU suburbs. 90% = higher than 90% of suburbs
How Penola compares to ~15,000 Australian suburbs
Frequently Asked Questions
Is Penola a good suburb to live in?
Penola can suit residents seeking a quieter rural town with detached housing, local primary and secondary schools, and a median age of 47. Car dependence is significant, with 79.7% driving to work and only 0.6% using public transport, so lifestyle fit depends on access to a vehicle.
What is the median house price in Penola?
A current median house price is not available for Penola. Buyers can still compare local properties using the 90.4% separate-house share, the dominant 58.3% three-bedroom segment, weekly rent of $198 and average mortgage repayments of $1,050 per month.
What schools are in Penola?
Penola has 2 government schools covering the main school stages: Penola Primary School for primary education and Penola High School for secondary education. Families should check enrolment zones and transport arrangements against the exact address before making a decision.
Is Penola safe?
Penola recorded 29 crimes, equal to a rate of 17.9 incidents per 1,000 residents. Safety can vary by street and property type, so prospective residents should inspect the immediate area, consider lighting and access, and review current local conditions before signing a lease or contract.
Is Penola good for property investment?
Penola may suit investors seeking a low-rent regional market, with weekly rent at $198 and 22.5% of households renting. The 17.0% vacancy rate and -0.06% annual growth trend indicate softer demand than a growth market, so rental duration, property condition and resale liquidity require careful assessment.
How is Penola's population changing?
Penola has 1,622 residents today, with population change across the wider area at 1.0% over 10 years and a forecast annual trend of -0.06%. The trajectory is Aging, including a 6.8 percentage-point increase in the senior share, while migration is classified as Balanced.
What development is occurring in Penola?
Penola recorded 30 development applications over 12 months. Recent examples include verandah works and a sheltered spectator area, indicating ongoing property improvements, although the available examples do not establish a large new-housing pipeline or a major redevelopment cycle.
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).
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