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ABS 2021 Census · Updated 21 May 2026
Myrtle Bank is a well-established middle-ring suburb of Adelaide, Australia, with a population of approximately 3,158, making it a boutique locality. Located 5 km from the Adelaide CBD, Myrtle Bank is a middle ring area in South Australia. The median household income is $87,516 per year.
Household incomes in Myrtle Bank sit in a comfortable mid-range for the South Australia market. Close CBD access strengthens tenant appeal and resale value.
Official Australia Post postcode for Myrtle Bank. A postcode may cover multiple suburbs.
Australia Post Postcode Finder →Usual resident population at the most recent census.
Weekly median rent for occupied homes. Live rental data integration coming soon.
Annual median household income (before tax) across all households.
Straight-line distance from the suburb centroid to the nearest capital city CBD. Actual driving distance will be longer.
Estimated 1 school within or near this suburb.
Find schools near Myrtle Bank on My School →Estimated 1 park and green spaces near this suburb.
Monthly median mortgage repayment for households currently paying off a mortgage.
Proportion of separate houses versus units, townhouses, and other home types. Useful for investors assessing rental demand mix.
3,158 residents places Myrtle Bank squarely in the middle of the South Australia suburb size distribution (state median 3,699), with market depth comparable to most SA localities. Households here earn $87,516/year on average — 8% above the SA suburb median of $80,964 — a modest premium that supports resilient owner-occupier demand. Rent of $350/week (70% coverage of the $2,174/month median mortgage) leaves a gap of roughly $657/month that a typical investor bridges with negative gearing, depreciation and capital growth. At 5 km from the Adelaide CBD, Myrtle Bank sits inside the high-demand inner ring — properties here compete directly with the city's employment, transport and amenity networks. Only 52% of dwellings are separate houses (vs 73% state median), so this is a unit-heavy market where body-corporate decisions and strata supply meaningfully shape investor returns.
This suburb suits long-term investors looking for a balance of rental yield and capital growth. Schools and transport underpin family demand. Local rents consume roughly 21% of household income — a useful sanity check on tenant affordability.
How Myrtle Bank stacks up against the median of all South Australia suburbs in our dataset. Positive values mean Myrtle Bank sits above the state median; negative means below.
| Metric | Myrtle Bank | SA median | Δ vs state |
|---|---|---|---|
| Population | 3,158 | 3,699 | -15% |
| Median household income | $87,516/yr | $80,964/yr | +8% |
| Median rent (weekly) | $350 | $320 | +9% |
| Median mortgage (monthly) | $2,174 | $1,616 | +35% |
| Distance to CBD | 5 km | 13 km | -62% |
| Separate houses | 52% | 73% | -21pp |
Pre-inspection briefing for Myrtle Bank — every item is derived from public datasets, with full citations in our data sources page.
Moderate buy-and-hold potential: Myrtle Bank's 3,158-person market and $87,516 median household income work for investors who are selective on street location and property quality rather than counting on a suburb-wide rerating.
Moderate rental coverage: rent of $350/week covers 70% of a $2,174/month mortgage, leaving a $657/month gap that an investor bridges with equity, depreciation and tax benefits.
Only 52% of dwellings are separate houses (vs 73% SA median) — this is a unit and townhouse market, where cosmetic flips struggle against body-corporate restrictions, thinner after-reno uplift and competing new supply.
Run the numbers on a Myrtle Bank property
Scenario comparison, cash flow analysis, tax modelling, and PDF export — all in one place.
Create free account →Capital-growth expectations for Myrtle Bank are modest for 2026 — incomes 8% above the SA median of $80,964 and a population of 3,158 suggest gains will lag headline metro markets. Rental coverage runs at ~70% of the typical mortgage ($1,517/month rent vs $2,174/month repayment), leaving a manageable top-up for most investors. The EquitySight investment score of 74/100 places Myrtle Bank in the upper-middle tier of Australian suburbs we profile, and overall investor sentiment is constructive heading into the second half of 2026.
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Myrtle Bank scores 74/100 on our EquitySight investment framework — a good rating. That score is driven by a population of 3,158, median household income of $87,516/year and median weekly rent of $350. Whether it fits your portfolio depends on whether you are targeting cash flow, capital growth, or a value-add renovation — all three are scored with suburb-specific numbers elsewhere on this page.
The main demand drivers in Myrtle Bank are proximity to Adelaide (5 km), an above-state-median household income of $87,516/year, a dwelling mix that is 52% separate houses, roughly 1 schools and 1 parks within the catchment. Together these shape both owner-occupier and tenant demand and are the factors we weight most heavily in the suburb's investment score.
Myrtle Bank has a usual resident population of approximately 3,158, compared with a South Australia suburb median of 3,699 — placing it in the lower half of the state's suburbs by size. Population is the clearest proxy for market depth: more residents mean more transactions and typically a shorter average days-on-market on resale.
Myrtle Bank sits 5 km straight-line from the Adelaide CBD. This is inner-ring territory — pricing competes directly with established Adelaide employment nodes.
The most recent census recorded a median weekly rent of $350 in Myrtle Bank, equating to approximately $18,200/year in gross rental income (state median $320/week). Market rents have typically drifted above the recorded figure — verify against current listings on realestate.com.au and Domain before making an offer.
The median monthly mortgage repayment in Myrtle Bank is $2,174, or approximately $26,088/year (vs $1,616/month state median). Stress-test your own borrowing at rates 1–2 percentage points above today's to make sure you can still service the loan through an RBA tightening cycle.
A median weekly rent of $350 works out to $1,517/month, covering 70% of the median mortgage repayment of $2,174/month. That leaves a $657/month shortfall (around $7,884/year before tax benefits), so a typical owner-occupier-priced property here is negatively geared. Actual cash flow depends on your deposit, loan terms, ownership costs and marginal tax rate — run the full numbers in our rental yield calculator.
The main risks are a thin buyer pool (3,158 residents), interest-rate sensitivity on the $2,174 median mortgage, the broader South Australia market cycle. Each of these is covered in the Risk Factors section above with suburb-specific numbers rather than generic warnings.
Every number on this page comes from the ABS 2021 Census of Population and Housing, Australia Post postcode reference data, and OpenStreetMap amenity tiles. The investment score, strategy verdicts, and comparison table are computed deterministically from those inputs — no opinion, no estimation. See our full methodology and the data sources and licences for the formulas we use.