Located in Queensland within the Banana local government area, Banana is a small, quiet locality (postcode 4702). It is home to about 348 residents, with an established family demographic and a median age of 40. Households earn a median income of $97K per year, with an average household size of 2.6 people. Recent annual estimates show population movement staying broadly stable across the broader catchment, with population growth running at +0.7% year-on-year at the LGA level. QLD employment has moved +1.5% year-on-year in the official ABS Labour Force trend series, which provides the broader jobs backdrop for this suburb. QLD also had 35 Commonwealth-backed major projects under construction, 16 underway, and 30 in planning as at 2025-09-01, which is useful as a broader delivery backdrop rather than a suburb-specific project count. The most common occupations are managers, machinery operators & drivers, labourers. Employment in the area leans toward agriculture and mining. The top ancestries reported are Australian, English, Scottish.
Median house prices in Banana stand at $230,000, having risen steeply by 21.1% over the last twelve months. Units have a median price of $252,000. The median weekly rent is $250 (Census 2021). This gives a gross rental yield of approximately 5.7%. The median monthly mortgage repayment is $1,250.
Banana is served by 1 school, including 1 primary. The average ICSEA score is 941, which is below the national average of 1,000. The crime rate in the Banana LGA is moderate at 5,088 incidents per 100,000 population.
Looking at the investment signals, The gross rental yield works out to roughly 5.7%, which reads as high yield. Property prices sit below the state median ($230K/$1.1M), which can point to relative value. The price-to-income ratio of 2.4x is considered affordable. House prices have moved +21.1% year-on-year. Population growth of +0.7% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.