Established in 1976, the Macarthur suburb of Rosemeadow features a stable population, boasting minimum growth with a rising rental price that indicates this is a suburb on the move.
With a population of 7862, it has grown only marginally in the past five years, increasing by just 228 people, according to the latest Census.
So what are the other defining features of Rosemeadow and where does it go from here?
Who lives in Rosemeadow?
With a median age of only 33, Rosemeadow is one of the younger suburbs of the Macarthur area. It’s also significantly younger than the state or national norms that both have a median age of 38. Five years ago, however the population was even younger with a median age of just 31.
Of that population 52% are female and 48% are male, with children aged up to 15 representing 23.3% of the population, and senior citizens above 65 making up only 9.5%.
Of residents aged above 15, 44.3% are married, 38.8% have never been married, 13.5% are separated or divorced, and 3.4% are widowed.
Most residents (81.1%) reside in a family household, 16.4% live alone, and 2.5% share their home. Of those family households, almost half (48.4%) are couples with children, and they have on average two children each. A quarter (25.3%) are couples without children, and 24.7% are single parent families.
This shows a slight reduction in the number of children per family household which dropped a little from 2011 when the average was 2.1 children per couple with kids.
How Rosemeadow residents fare financially
With a weekly median household income of $1470, Rosemeadow residents are slightly below the NSW norm ($1486), but better off than the national median ($1438). They’re also doing significantly better on the financial front than five years ago when the median household income was $1286.
And by and large that financial security is marginally increasing. In 2011 only 7.4% of Rosemeadow residents had a household weekly income of more than $3000, compared to 11.2% nationally. In 2016, 11.9% have a weekly income that is greater than $3000, compared to 16.2% nationally.
Of that income, each month $1733 goes to a mortgage and $350 each week goes to rent. This represents stability on the mortgage price which was also $1733 five years ago, and a rising rental price, which was only $263 each week five years ago.
Compared to the national averages it indicates Rosemeadow residents pay $23 less in mortgage payments each month, yet $15 more in rental payments each week.
How Rosemeadow residents live
The majority of Rosemeadow residents live in a stand-alone house with three bedrooms that is owned either with a mortgage or outright, according to statistics. In fact 84.2% of the housing stock is separate houses, 15% is semi-detached housing or townhouses, and just 0.8% is units. That indicates no change on five years ago, despite an additional 151 dwellings being built.
Of all properties, 55.5% are three bedrooms, 35.8% are four bedrooms or more, 4.6% are two-bedroom homes, and 1.7% are single bedroom dwellings.
And home ownership in this suburb closely reflects the national norm, with 64.3% owning their home, and 32.6% renting. Of home owners, 21% own their property upright, while 43.3% have a mortgage.
This indicates outright ownership progress on five years ago but also represents a rise in rental properties. In 2011, 50.7% of properties were owned with a mortgage, 17.6% were owned outright, and just 28.5% were rented.
The final word
Rosemeadow is a suburb experiencing minor change. The rental market is increasing and the rental price it commands is rising. Meanwhile the population has increased slightly and the standard of living is a little higher as more property owners make the shift from paying off a mortgage to completely owning their home.
About United Strata
United Strata specialises in real estate within the Macarthur region. We boast a wealth of insight into the current and future position of property in the region.