ABS 2021 Census · Updated 31 March 2026
Underwood is a regional centre in Tasmania, Australia, with a population of approximately 391, making it a boutique locality. Located approximately 174 km from the Hobart CBD, Underwood is a regional area in Tasmania. The median household income is $94,224 AUD per year (ABS 2021 Census).
Above-average earnings in Underwood support sustained property values. As a regional location, growth prospects depend on local economic conditions and infrastructure investment.
Map shows Underwood, Tasmania, Australia.
Official Australia Post postcode for Underwood. A postcode may cover multiple suburbs.
Australia Post Postcode Finder →Usual resident population at census night. Source: ABS 2021 Census of Population and Housing.
ABS Census Data →Weekly median rent for occupied private dwellings. Source: ABS 2021 Census. Live rental data integration coming soon.
State Rental Authority →Annual median household income (before tax) for all households. Source: ABS 2021 Census.
ABS Census Data →Straight-line distance from the suburb centroid (ABS 2021 SAL geography) to the nearest capital city CBD. Actual driving distance will be longer.
Estimated 1 school within or near this suburb based on ABS 2021 data.
Find schools near Underwood on My School →Estimated 1 park and green spaces near this suburb. Source: ABS 2021 data.
Monthly median mortgage repayment for households currently paying off a mortgage. Source: ABS 2021 Census.
ABS Census Data →Proportion of separate houses vs units, townhouses, and other dwelling types. Source: ABS 2021 Census. Relevant for investors assessing rental demand mix.
ABS Census Data →As a regional centre, Underwood serves a wide catchment area. Regional property can offer higher rental yields than metro equivalents, though investors should assess local employment diversity and infrastructure plans. The median rent of $275/week (ABS 2021) indicates an affordable rental market. Owner-occupiers face a median mortgage repayment of $1,411/month. The median household income of $94,224/year reflects a solid demographic, supporting sustainable rental demand. 93% of dwellings are separate houses, indicating a predominantly family-oriented, land-rich market.
Underwood offers moderate buy-and-hold potential — look for properties with value-add opportunities.
Rental yields in Underwood tend to be lower — investors may need to rely on capital growth instead.
Renovation or flip strategies in Underwood face headwinds from a smaller buyer pool and slower turnover.
Run the numbers on a Underwood property
Scenario comparison, cash flow analysis, tax modelling, and PDF export — all in one place.
Create free account →Capital growth in Underwood may remain subdued in 2026, with limited demand drivers in the near term. Rental demand may be softer — budgeting for vacancy periods is prudent in Underwood's 2026 outlook. Investor sentiment toward Underwood is currently lukewarm — value hunters may find opportunity here.
Underwood is a regional area in Tasmania with a population of 391. The median rent is $275/week and the median household income is $94,224/year (ABS 2021 Census). As with any property investment, conduct thorough due diligence on current listings, vacancy rates, and local infrastructure plans before committing.
Key demand drivers in Underwood include regional employment hubs, lifestyle, and affordability. 93% of dwellings are separate houses. The area has approximately 1 schools and 1 parks nearby.
According to the ABS 2021 Census, Underwood has a population of approximately 391. For historical population trends and intercensal estimates, visit the ABS Census Data Explorer at abs.gov.au.
Underwood is approximately 174 km straight-line distance from the Hobart CBD (calculated from ABS 2021 suburb centroid coordinates). As a regional or remote location, travel to the capital is significant — local amenities and employment are important investment considerations.