Palmyra is a mid-sized suburb in Western Australia within the Melville local government area (postcode 6157). With a population of 7,585, the suburb has a settled mid-life population with a median age of 39. Households earn a median income of $90K per year, with an average household size of 2.2 people. Recent annual estimates show population movement into the broader catchment, with population growth running at +1.8% year-on-year at the LGA level. WA employment has moved +1.9% year-on-year in the official ABS Labour Force trend series, which provides the broader jobs backdrop for this suburb. WA also had 24 Commonwealth-backed major projects under construction, 12 underway, and 12 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 professionals, managers, clerical & administrative. Employment in the area leans toward healthcare and education. The top ancestries reported are English, Australian, Irish.
Median house prices in Palmyra stand at $1.3 million, having climbed sharply by 20.8% over the last twelve months. The current median weekly rent is $520. This gives a gross rental yield of approximately 2.1%. The median monthly mortgage repayment is $1,950.
Palmyra is served by 2 schools, including 2 primary. The average ICSEA score is 1114, which is well above the national average of 1,000. Public transport access includes 21 bus stops.
Looking at the investment signals, Palmyra shows a gross rental yield of approximately 2.1%, rated as low yield. Property prices are near the state median ($1.3M/$1.0M). The price-to-income ratio of 14.2x is considered stretched. House prices have moved +20.8% year-on-year. Population growth of +1.8% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.