Top 10 Suburbs in Australia with the Highest Rental Yields in 2024

Investing in real estate is a wise strategy for many Australians keen to grow their wealth and ensure financial security. This year, several suburbs are gaining attention for their impressive rental yields, making them attractive picks for smart investors. In this article, we’ll explore the top 10 suburbs across Australia that are offering the best returns on investment right now. Each of these suburbs not only promises good financial returns but will also have strong market data and solid economic drivers supporting their growth. But before we look at those exclusive suburbs, let’s understand the metrics.

Understanding Rental Yields

Rental yield is how much you earn from a property each year compared to its purchase price. A higher rental yield suggests better profitability, making it a crucial indicator for anyone investing in real estate. Several things can affect rental yields, including the cost of the property, how much rent tenants pay, the local economy, and what amenities are nearby.

Factors Influencing High Rental Yields

Many factors that can lead to better rental yields are strong economic growth, new infrastructure, tourism, reasonable property prices, and good job opportunities nearby can all boost returns. Knowing these factors helps investors make smarter choices.

Economic and Market Trends in 2024

The Australian property market is always evolving, and 2024 has brought its own set of changes. Economic shifts, new government policies, and market movements are all influencing the property scene. Suburbs that are seeing new infrastructure projects, economic development, and improved lifestyle amenities are drawing more renters, which in turn pushes up rental yields. Keeping up with these trends is crucial for investors looking to spot valuable opportunities.

Benefits of Investing in High-Yield Suburbs

Choosing to invest in suburbs with high rental yields comes with plenty of advantages. For starters, investors can enjoy higher rental incomes, which means better cash flow and faster returns on their investments. These areas typically see steady rental demand, which helps keep vacancy rates low and ensures a consistent income stream. Moreover, properties in these suburbs often appreciate value over time, adding to their long-term investment appeal. So, let’s go ahead and check out the best suburbs that you can invest in.



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Top 10 Suburbs with the Highest Rental Yields in 2024

Based on extensive research and market analysis, here are the top 10 suburbs in Australia offering the highest rental yields in 2024. These suburbs provide exceptional investment opportunities with strong returns on investment.

Mallacoota, Victoria
Median House Price:  $580,000
Median Rent:  $1,923 per week
Rental Yield:  17.9%

Mallacoota, a beautiful holiday town in East Gippsland, stands out with its remarkable rental yield of 17.9%. Famous for its stunning coastal views and tranquil atmosphere, Mallacoota attracts a steady stream of tourists and seasonal renters. This high demand boosts rental opportunities significantly. What’s more, the median house price here is quite affordable compared to other coastal areas, making it an excellent spot for solid investment returns. The town’s popularity, especially during holiday seasons, ensures a consistent flow of rental income, greatly improving rental yields.

Dolphin Heads, Queensland
Median House Price: $550,000
Median Rent: $1,808 per week
Rental Yield: 17%

Dolphin Heads, located in the Mackay region, offers a strong rental yield of 17%. This coastal suburb draws people in with its beautiful beaches and relaxed vibe, attracting both tourists and seasonal workers. The steady stream of visitors during the busier seasons keeps rental demand high, making sure properties don’t sit empty. For investors, this means reliable rental income and the bonus of generally lower property prices in the area.

Bucasia, Queensland
Median House Price: $530,000
Median Rent: $1,681 per week
Rental Yield: 16.5%

Bucasia, another standout suburb in Queensland, offers a rental yield of 16.5%. Known for its family-friendly environment and close distance to Mackay’s amenities, Bucasia is appealing to both renters and investors. The suburb’s affordable property prices add to its attraction as a great place for investment. With a strong community feel and excellent schools, Bucasia is particularly popular among families, which helps keep the demand for rental properties steady.

Baynton, Western Australia
Median House Price: $600,000
Median Rent: $1,875 per week
Rental Yield: 16.3%

Baynton, situated in the Pilbara region, showcases a strong rental yield of 16.3%. The area’s economy is booming, largely thanks to mining activities, which keeps the demand for rental properties high. Along with relatively affordable house prices, Baynton has become an attractive choice for property investors. Its convenient location close to mining sites means high rental occupancy rates, especially among workers seeking housing close to their jobs.

Coolgardie, Western Australia
Median House Price: $400,000
Median Rent: $1,250 per week
Rental Yield: 16.2%

Coolgardie, with its deep mining history and heritage, offers a rental yield of 16.2%. The suburb’s affordable cost of living and strong rental demand, fueled by the mining industry, make it an appealing spot for investors. Its combination of low property prices and high rental returns creates a strong investment opportunity. Additionally, the economic stability brought about by continuous mining activities ensures a steady stream of rental income, enhancing the overall returns for investors.
Australian Suburbs with Highest Rental Yields

Bellbird Park, Queensland
Median House Price: $450,000
Median Rent: $1,442 per week
Rental Yield: 16%

Bellbird Park, located in Ipswich City, is a fast-developing suburb that has a rental yield of 16%. Its close proximity to the well-planned Springfield community, home to a university campus and medical facilities, keeps a steady flow of renters coming in. The suburb’s affordability and strategic location help drive its high rental yields. With expanding infrastructure and community amenities, Bellbird Park is becoming an increasingly attractive option for both families and professionals.

Ashfield, New South Wales
Median House Price: $2,000,000
Median Rent: $6,923 per week
Rental Yield: 16%

Ashfield, located in Sydney’s Inner West, offers a rental yield of 16%. This vibrant suburb is just 8 kilometres from the city centre and appeals to renters with its great transport links, parks, and cultural spots. Despite higher property prices, the strong demand for rentals ensures good returns for investors. Ashfield’s diverse community and proximity to major job hubs make it a top choice for renters, which keeps occupancy rates high and rental income steady.

Charlestown, New South Wales
Median House Price: $650,000
Median Rent: $2,192 per week
Rental Yield: 16%

Charlestown, located on the outskirts of Newcastle, delivers a rental yield of 16%. The suburb is known for its large shopping centre, private hospital, and easy access to nature reserves, making it a great place for renters. The consistent demand for properties here means that investors can look forward to high rental returns. With its strategic position near major job centres and other amenities, Charlestown continues to attract renters, ensuring a steady stream of rental income.

Bargara, Queensland
Median House Price: $580,000
Median Rent: $1,856 per week
Rental Yield: 16%

Bargara, a beachside suburb near Bundaberg, offers a rental yield of 16%. It’s known for being close to the Mon Repos Turtle Centre and for its relaxed coastal vibe, which continuously attracts renters. The suburb is affordable and in high demand for rentals, making it a great choice for investors. Bargara’s popularity as a holiday destination helps keep rental properties filled, providing owners with steady rental income.

Balcatta, Western Australia
Median House Price: $450,000
Median Rent: $1,442 per week
Rental Yield: 16%

Balcatta, in Perth’s City of Stirling, rounds out the list with a rental yield of 16%. This middle-ring suburb, known for its commercial and retail sectors, offers excellent transport links and amenities. The high demand for rental properties in Balcatta ensures that investors can enjoy substantial returns. Balcatta’s strategic location near employment hubs and commercial centres makes it a popular choice among renters, ensuring high occupancy rates and steady rental income.


Investing in real estate means you need to look at several things carefully, like rental yields, market trends, and the overall economy. The suburbs we’ve talked about stand out because of their high rental yields, which makes them great options for investors in 2024. Whether you’re into the beach, city life, or places with economic growth, these suburbs offer many chances to make the most of your investment.

By focusing on these areas with high rental yields, investors can enjoy strong rental income and also see the potential for their property’s value to grow. As with any investment, doing your homework and planning strategically is key to success. Here’s to a fruitful 2024 with wise investments and solid returns.


What is a rental yield?

Rental yield is the return on investment for a rental property, calculated by dividing the annual rental income by the property’s purchase price and multiplying by 100.

Why is rental yield important?

Rental yield is crucial because it measures the ongoing return on investment, helping investors gauge the profitability of a rental property.

How can investors maximize returns in high rental yield suburbs?

Investors should focus on properties with strong rental demand to maximise returns, conduct thorough market research, and stay informed about infrastructure developments and economic trends.

What makes a suburb attractive for property investment?

A suburb’s attractiveness for investment is influenced by factors such as rental demand, affordability, lifestyle amenities, and potential for capital growth.

How do economic conditions affect rental yields?

Economic conditions, such as employment rates and infrastructure projects, can significantly impact rental yields by influencing rental demand and property values.


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