Top Suburbs for Rental Yield in South Australia
Potential returns are a vital aspect of any property investor’s investment plan. It’s why many property investors are setting their eyes on South Australia. The state has one of the country’s lowest average house prices and relatively high rental yields.
But where is the best place to purchase a rental property in South Australia? Before going through with your property purchase, consider the suburbs with the best rental yields.
Overview of the South Australian rental market
According to the latest data from SQM Research, vacancy rates in Adelaide were at 0.8% in May 2025, with only 1,240 residential vacancies. The vacancy rate has held steady between 0.5% and 0.8% in the past year, indicating a strong landlord’s market.
In South Australia, the rental market is tight meaning the number of tenants far outweighs the vacant rental properties. This could give potential real estate investors a great opportunity to capitalise on the overwhelming demand.
In addition to low vacancy rates, the state also has high rental yields, with the top-grossing suburbs grossing between 4% to 8%. For context, a rental yield of 3% to 6% for residential properties is considered a good net rental yield.
Suburbs in Greater Adelaide with high rental yields
According to the May 2025 data from PropTrack, Adelaide has seen 0.5% monthly growth and recorded an annual growth of 11% in home prices in all dwellings. It leads growth among other capital cities. Typically, more affordable areas tend to outperform more expensive cities and suburbs.
In Greater Adelaide, Adelaide – North saw the biggest annual growth of 12%. The increase in home prices is reflected in the rental yield and median rental values of the best performing suburbs in Greater Adelaide.
Highest rental yield suburbs in Greater Adelaide for houses
| Suburb | Region | Rental Yield | Median Rental Value |
|---|---|---|---|
| Elizabeth Downs | Adelaide – North | 5.3% | $482 |
| Elizabeth North | Adelaide – North | 5.2% | $467 |
| Smithfield | Adelaide – North | 5.1% | $494 |
| Davoren Park | Adelaide – North | 5.0% | $484 |
| Smithfield Plains | Adelaide – North | 5.0% | $500 |
| Elizabeth South | Adelaide – North | 4.9% | $470 |
| Elizabeth Park | Adelaide – North | 4.8% | $495 |
| Elizabeth Grove | Adelaide – North | 4.8% | $474 |
| Salisbury North | Adelaide – North | 4.8% | $529 |
| Andrews Farm | Adelaide – North | 4.8% | $534 |
Source: CoreLogic Best of the Best 2024 (December 2024) report
In Greater Adelaide, the highest performing suburbs for units are all found in Adelaide – North. All the rental yield percentages for houses have a small range, from 4.8% to 5.3%. It’s interesting to note that even though Elizabeth Downs has the largest yield percentage of 5.3%, it doesn’t have the biggest median rental value at only $482. That honour goes to Andrew Farms with $535 with a 4.8% rental yield.
Highest rental yield suburbs in Greater Adelaide for units
| Suburb | Region | Rental Yield | Median Rental Value |
|---|---|---|---|
| Adelaide | Adelaide - Central and Hills | 5.7% | $614 |
| Salisbury | Adelaide – North | 5.6% | $438 |
| Tonsley | Adelaide – South | 5.3% | $532 |
| Munno Para | Adelaide – North | 5.3% | $481 |
| Kurralta Park | Adelaide – West | 5.2% | $466 |
| Bowden | Adelaide – West | 5.2% | $605 |
| Woodville | Adelaide – West | 5.1% | $506 |
| Plympton | Adelaide – West | 5.1% | $473 |
| Klemzig | Adelaide – North | 5.1% | $463 |
| Payneham | Adelaide – Central and Hills | 5.1% | $520 |
Source: CoreLogic Best of the Best 2024 (December 2024) report
The highest rental yield suburbs in Greater Adelaide for houses are concentrated in four regions: Adelaide – Central and Hills, Adelaide – North, Adelaide South, and Adelaide – West. The proximity to the CBD may be one of the reasons why these suburbs garner higher rental yields.
The median rental values for units are slightly higher than the median value for houses. Rental yield percentages of units are also higher, with no suburb having yields below 5%.
Suburbs in Regional South Australia with the highest rental yield
Regional South Australia may not see as much rapid growth as Greater Adelaide, but median home values are still rising in some areas compared to the same time last year. Rental yields are going strong. Many renters may see Regional South Australia as a good alternative to living in the more expensive metropolitan areas.
Highest rental yield suburbs in Regional South Australia for houses
| Suburb | Region | Rental Yield | Median Rental Value |
|---|---|---|---|
| Port Pirie West | Barossa - Yorke - Mid North | 8.9% | $362 |
| Port Augusta West | Outback | 7.1% | $365 |
| Port Augusta | Outback | 7.0% | $344 |
| Risdon Park | Barossa – Yorke – Mid North | 6.8% | $374 |
| Whyalla Norrie | Outback | 6.8% | $338 |
| Whyalla Stuart | Outback | 6.7% | $336 |
| Whyalla Playford | Outback | 6.5% | $355 |
| Whyalla | Outback | 6.4% | $378 |
| Port Pirie South | Barossa - Yorke - Mid North | 6.4% | $374 |
| Berri | South East | 6.1% | $414 |
Source: CoreLogic Best of the Best 2024 (December 2024) report
The highest rental yield suburbs in Regional South Australia for houses are found mainly in the Outback and Barossa - Yorke - Mid North. Port Pirie West has the highest rental yield among all the suburbs in Regional South Australia, as well as Greater Adelaide.
Highest rental yield suburbs in Regional South Australia for units
| Suburb | Region | Rental Yield | Median Rental Value |
|---|---|---|---|
| Mount Gambier | South East | 4.7% | $304 |
Source: CoreLogic Best of the Best 2024 (December 2024) report
In Regional South Australia, only one suburb has made it to the list for units. Mount Gambier was also the suburb with the highest rental yield in 2023. Its rental yield has decreased from 4.9% to 4.7%, but the median rental value has increased from $292 to $304.
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