Palm Cove

Palm Cove lies within the top quartile of areas nationally for population growth performance according to AreaSearch analysis of recent, and medium to long-term trends

As of November 2025, the estimated population of Palm Cove is around 2,797 people. This figure represents an increase of 347 individuals since the 2021 Census, which reported a population of 2,450 people. The current resident population estimate by AreaSearch, based on examination of the latest ERP data release by ABS in June 2024 and additional validated new addresses since the Census date, is 2,663. This results in a population density ratio of 785 persons per square kilometer for Palm Cove, which aligns with averages observed across locations assessed by AreaSearch. The suburb's population growth rate of 14.2% since the 2021 Census exceeds that of both the SA4 region (7.8%) and non-metro areas, positioning it as a significant growth leader in the region. Overseas migration contributed approximately 50.0% of overall population gains during recent periods, although all drivers including interstate migration and natural growth were positive factors.

AreaSearch adopts ABS/Geoscience Australia projections for each SA2 area, released in 2024 with a base year of 2022. For areas not covered by this data and years post-2032, Queensland State Government's SA2 area projections are used, released in 2023 based on 2021 data. However, these state projections do not provide age category splits; hence proportional growth weightings in line with ABS Greater Capital Region projections are applied where utilized. Future population trends project an above median growth for non-metropolitan areas nationally, with Palm Cove expected to grow by 468 persons to 2041 based on aggregated SA2-level projections, reflecting a total gain of 10.3% over the 17-year period.

Recent residential development output has been above average within Palm Cove when compared nationally

AreaSearch analysis of ABS building approval numbers in Palm Cove shows approximately 19 new homes approved annually over the past five financial years, totalling around 95 homes. As of FY-26, 18 approvals have been recorded. On average, each dwelling has accommodated about 2.3 new residents per year between FY-21 and FY-25, reflecting strong demand that supports property values. The average construction cost value for these dwellings was $457,000, which is below regional norms, indicating more affordable housing options.

This financial year, $819,000 in commercial approvals have been registered, highlighting the area's residential nature. Compared to the rest of Queensland, Palm Cove has similar development levels per person, maintaining market balance with the broader area. All new construction since FY-21 has consisted of detached houses, preserving the area's low density character and attracting space-seeking buyers.

This trend indicates persistent strong demand for family homes despite densification trends. With around 85 people per dwelling approval, Palm Cove exhibits growth area characteristics. According to AreaSearch's latest quarterly estimate, the area is projected to grow by 288 residents by 2041. Given current construction levels, housing supply should meet demand adequately, creating favourable conditions for buyers and potentially enabling growth beyond current forecasts.

Palm Cove has limited levels of nearby infrastructure activity, ranking in the 6thth percentile nationally

Ten projects identified by AreaSearch are expected to impact the local area significantly. These include Argentea Palm Cove Residential Estate, Deep Creek Estate, Northern Beaches Leisure Trail, and Luxury Apartments at 17 Veivers Road. The following list details those considered most relevant.

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Employment performance in Palm Cove exceeds national averages across key labour market indicators

Palm Cove has a skilled workforce with prominent tourism and hospitality sectors. Its unemployment rate was 2.4% as of June 2025, according to AreaSearch's aggregation of statistical area data.

In Palm Cove, 1,401 residents were employed while the unemployment rate was 1.5% lower than Rest of Qld's rate of 3.9%. Workforce participation was somewhat below standard at 56.0%, compared to Rest of Qld's 59.1%. Employment is concentrated in accommodation & food, health care & social assistance, and retail trade. Accommodation & food has particularly notable concentration with employment levels at 2.4 times the regional average.

Conversely, agriculture, forestry & fishing shows lower representation at 1.2% versus the regional average of 4.5%. The area offers limited local employment opportunities as indicated by Census working population vs resident population count. In a 12-month period ending Sep-22, labour force decreased by 1.7% and employment decreased by 2.6%, causing unemployment to rise by 0.9 percentage points in Palm Cove. This contrasts with Rest of Qld where employment grew by 1.8%, labour force expanded by 2.0%, and unemployment rose by 0.2 percentage points. Jobs and Skills Australia's national employment forecasts from Sep-22 project national employment growth of 6.6% over five years and 13.7% over ten years. Applying these projections to Palm Cove's employment mix suggests local employment should increase by 6.5% over five years and 13.5% over ten years, though this is a simple weighting extrapolation for illustrative purposes and does not account for localised population projections.

Income levels align closely with national averages, indicating typical economic conditions for Australian communities according to AreaSearch analysis

According to AreaSearch's aggregation of the latest postcode level ATO data released for financial year ended June 2022, Palm Cove had a median income among taxpayers of $53,043 with the average level standing at $64,611. This is approximately average nationally and compares to levels of $50,780 and $64,844 across Rest of Qld respectively. Based on Wage Price Index growth of 13.99% from financial year ended June 2022 to September 2025, current estimates would be approximately $60,464 (median) and $73,650 (average). From the Census conducted in August 2021, household, family and personal incomes all rank modestly in Palm Cove, between the 37th and 49th percentiles. Income analysis reveals that 29.4% of the population, which consists of 822 individuals, fall within the $1,500 - 2,999 income range, mirroring the region where 31.7% occupy this bracket. After housing expenses, 85.5% of income remains for other expenses and the area's SEIFA income ranking places it in the 6th decile.

Palm Cove displays a diverse mix of dwelling types, with above-average rates of outright home ownership

Dwelling structure in Palm Cove, as per the latest Census, consisted of 66.6% houses and 33.5% other dwellings (semi-detached, apartments, 'other' dwellings), compared to Non-Metro Qld's 80.8% houses and 19.2% other dwellings. Home ownership in Palm Cove was 42.0%, with the rest being mortgaged (27.7%) or rented (30.3%). The median monthly mortgage repayment was $1,733, aligning with Non-Metro Qld's average, while the median weekly rent was $365, compared to Non-Metro Qld's $390. Nationally, Palm Cove's mortgage repayments were lower at $1,733 than Australia's average of $1,863, and rents were less at $365 than the national figure of $375.

Palm Cove has a typical household mix, with a lower-than-average median household size

Family households constitute 69.5% of all households, including 18.4% couples with children, 44.2% couples without children, and 5.9% single parent families. Non-family households comprise the remaining 30.5%, with lone person households at 28.2% and group households making up 2.2%. The median household size is 2.1 people, which is smaller than the Rest of Qld average of 2.5.

Palm Cove demonstrates exceptional educational outcomes, ranking among the top 5% of areas nationally based on AreaSearch's comprehensive analysis of qualification and performance metrics

The area's educational profile is notable regionally with university qualification rates at 28.2% among residents aged 15+, surpassing the Rest of Qld average of 20.6% and the SA4 region rate of 21.1%. Bachelor degrees are most prevalent at 17.0%, followed by postgraduate qualifications (7.8%) and graduate diplomas (3.4%). Trade and technical skills are prominent, with 38.6% of residents aged 15+ holding vocational credentials – advanced diplomas at 14.6% and certificates at 24.0%.

A significant 22.7% of the population is actively pursuing formal education, including 7.7% in primary, 6.4% in secondary, and 3.7% in tertiary education. Educational facilities appear to be located outside immediate catchment boundaries, requiring families to access schools in neighboring areas.

Transport servicing is low compared to other areas nationally based on assessment of service frequency, route connectivity and accessibility

Palm Cove has 13 active public transport stops, all of which are bus stops. These stops are served by two different routes that together offer 193 weekly passenger trips. The accessibility of these services is rated as good, with residents living an average of 287 meters from the nearest stop.

On average, there are 27 trips per day across all routes, which works out to about 14 weekly trips per individual stop.

Palm Cove's residents are relatively healthy in comparison to broader Australia with a fairly standard level of common health conditions seen across both young and old age cohorts

Palm Cove's health metrics are close to national benchmarks.

Common health conditions are seen at a fairly standard level across both young and old age cohorts. The rate of private health cover is approximately 53% of the total population (~1,477 people), leading that of the average SA2 area. The most common medical conditions in the area are arthritis and mental health issues, impacting 9.3 and 7.6% of residents respectively. 68.0% of residents declare themselves completely clear of medical ailments, compared to 73.1% across Rest of Qld. 29.6% of residents are aged 65 and over (827 people), which is higher than the 16.7% in Rest of Qld. Health outcomes among seniors perform better than those of the general population in health metrics.

Palm Cove was found to be more culturally diverse than the vast majority of local markets in Australia, upon assessment of a range of language and cultural background related metrics

Palm Cove, surveyed in June 2021, had a higher linguistic diversity than most local areas, with 11.0% of residents speaking a language other than English at home. Born overseas, 36.2% of Palm Cove's population was recorded in the same survey. Christianity dominated religious affiliations, comprising 45.9%.

Judaism, however, was slightly overrepresented compared to regional averages (0.4% vs 0.2%). Ancestral ties showed English heritage at 34.2%, higher than the regional average of 28.9%. Australian and Irish ancestry followed, with 18.4% and 10.0% respectively. Notable differences existed in Welsh (1.3% vs regional 0.6%), French (1.2% vs 0.7%), and Spanish (0.8% vs 0.4%) ethnic groups.

Palm Cove ranks among the oldest 10% of areas nationwide

Palm Cove's median age is 53 years, which is significantly higher than the Rest of Qld average of 41 and considerably older than the Australian median of 38. Compared to the Rest of Qld average, Palm Cove has a notably over-represented 65 - 74 cohort (20.1%) and under-represented 25 - 34 year-olds (7.5%). The 65 - 74 concentration is well above the national average of 9.4%. Post-2021 Census data shows the 15 to 24 age group has grown from 6.7% to 7.9%, while the 45 to 54 cohort has declined from 16.6% to 14.1%. By 2041, Palm Cove is expected to see notable shifts in its age composition. The 65 to 74 group will grow by 16% (88 people), reaching 651 from 562. Those aged 65 and above are projected to comprise 63% of the demographic growth. Conversely, both the 5 to 14 and 15 to 24 age groups are expected to decrease in number.