Lake Illawarra, NSW 2528
Wollongong City CouncilAll suburbs in postcode 2528
Updated
Median house price
$892,500
+6.8% over the past year.
Median of 30 house sales · NSW Valuer General · calendar 2025
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Lake Illawarra at a glance
- Median unit
- $291,600
- Weekly rent
- $700
- Houses · units $495
- Population
- 3,288
- Median age 43
Prices: Median of 30 house sales · NSW Valuer General · calendar 2025 · Rent: NSW rental bond data (postcode 2528), June 2026 · Population: 2021 Census
House prices in Lake Illawarra
Houses change hands at $892,500 on a typical sale, below the NSW median (30 house sales, NSW Valuer General, calendar 2025). Units come in around $291,600, roughly 67% below the house median. The 12-month picture is one of steady growth (+6.8%).
For sellers
Twelve-month growth is +6.8%, supporting confident pricing at the upper end of recent comparables.
For buyers
A 20% deposit on the median house works out to roughly $179,000. Prices are below the NSW median, which keeps Lake Illawarra on the radar for first-home buyers and right-sizers.
Rental data as of June 2026· NSW rental bond data (postcode 2528)
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What to know about Lake Illawarra
Lake Illawarra (2528) sits in the Wollongong region of NSW. The median house here is $892,500, below the NSW median of around $1.10M. Prices have moved +6.8% over the past year, well clear of the NSW average (3%).
Lake Illawarra has roughly 3,288 residents, with an established, older skew. Households are a roughly even mix of owners and renters. Daily life is car-friendly: most residents drive to work, school and the shops.
What it’s like to live here
Lake Illawarra scores 32/100 on walkability, which makes it car-friendly with limited public transport. Plan for two cars in a typical household, especially if work isn't local.
Summer days here average around 26°C (mild), winter mornings around 8°C (mild). Annual rainfall lands at about 1,020 mm. Figures are our 1991 to 2020 averages of SILO data for this location (Queensland Government, built from Bureau of Meteorology observations).
Schooling within or near the suburb covers 13 government primary, 3 government secondary, 2 Catholic, 1 independent.
Schools in Lake Illawarra
Schools serving Lake Illawarra: government first, then Catholic and independent.
Government schools
© ACARA, licensed under CC BY 4.0.
Location
Walkability
- Walk
- 32/100
- Transit
- 0/100
- Bike
- 100/100
Car dependent. Scores out of 100, calculated from OpenStreetMap data (ODbL).
Walkability data as of May 2026· OpenStreetMap
Demographics
The 2021 Census put Lake Illawarra's population at 3,288, with a median age of 43. That sits as an established, older skew. Households are a roughly even mix of owners and renters (48% own, 48% rent), which shapes everything from school catchment stability to how often properties turn over. Lone-person households are notable here (38%), often a marker of unit-heavy stock and walkable infrastructure.
- Family households
- 58%
- Lone person
- 38%
- Owner occupied
- 48%
- Renter occupied
- 48%
Demographics data as of May 2026· ABS 2021 Census
Investment overview
Gross rental yield on houses sits at 4.08% (median rent $700/wk against a $892,500 price tag). Units yield 8.83% gross, often the better cash-flow play for first-time investors. With 48% of households renting, the leasing market is established and vacancy risk tends to be lower than in owner-dominated suburbs. The 12-month growth of +6.8% adds a capital-growth case on top of the yield.
- Gross yield, housesSource: NSW Valuer General (PSI) · Sept 2026
- 4.08%
- On the $892,500 median
- Gross yield, unitsSource: NSW Valuer General (PSI) · Sept 2026
- 8.83%
- On the $291,600 median
- 12-month change, housesSource: NSW Valuer General (PSI) · Sept 2026
- +6.8%
Gross rental yield is a year’s rent divided by the purchase price, before expenses. It leaves out vacancy, management fees, maintenance and financing costs, so treat it as a starting point.
Crime and safety
177 offences recorded in 2026
Top offence categories
Source: State Police Open Data
Crime data as of January 2026
Weather year-round
- Annual rainfall
- 1,020 mm
- Hottest month, avg max
- 26.1°C
- Coldest month, avg min
- 8.2°C
Rainfall by month
Our 1991 to 2020 averages of SILO data (Queensland Government, built from Bureau of Meteorology observations, CC BY 4.0) for this location.
Climate data as of October 2026· SILO (Queensland Government), from Bureau of Meteorology observations
Questions about Lake Illawarra
- What is the median house price in Lake Illawarra?
- The median house price in Lake Illawarra, NSW 2528 is $892,500 (median of 30 house sales recorded by the NSW Valuer General in calendar 2025). The median unit price is $291,600. Annual growth is +6.8%.
- How much is my house worth in Lake Illawarra?
- A useful starting point is the Lake Illawarra median house price of $892,500 (units $291,600). Your home will sit above or below that depending on land size, condition, position and what comparable homes nearby have sold for recently. For a figure specific to your property, request a free property appraisal from a local agent using the form on this page.
- Is Lake Illawarra a good investment?
- On the published figures, the gross rental yield on houses in Lake Illawarra is 4.1%: the median weekly house rent is $700 (NSW rental bond data (postcode 2528), June 2026) against the median house price of $892,500 (NSW Valuer General, calendar 2025). The median house price rose 6.8% over 12 months on the same NSW Valuer General figures. Whether Lake Illawarra is a good investment for you depends on the price you pay, your loan and holding costs, vacancy and your tax position. These are published market figures, not financial advice.
- What is the Lake Illawarra postcode?
- Lake Illawarra is in the 2528 postcode, in NSW, in the Wollongong City Council region.
- Where is Lake Illawarra?
- Lake Illawarra is a suburb in the Wollongong City Council area, NSW 2528.
- What is the average rent in Lake Illawarra?
- The median weekly rent for houses is $700, for units it's $495.
- What schools are in Lake Illawarra?
- There are 20 schools serving Lake Illawarra on this page, including Lake Illawarra South Public School, Lake Illawarra High School, Warilla North Public School.
- How walkable is Lake Illawarra?
- Lake Illawarra has a Walk Score of 32 out of 100, car-dependent for most errands. transit score 0, bike score 100.
- What suburbs are near Lake Illawarra?
- Lake Illawarra is close to Warilla, Mount Warrigal, Windang, Barrack Point, Barrack Heights.
- What is the population of Lake Illawarra?
- The population of Lake Illawarra is approximately 3,288 (2021 Census). The median age is 43.
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Sources. House and unit medians from the NSW Valuer General, Land Victoria, the SA Government and the ABS; rents from the state rental bond authorities. Census from the ABS (2021), climate from the Bureau of Meteorology, hazard from Geoscience Australia, schools from ACARA and crime from state police open data. Each figure carries its source and date. How we source data
How we’re paid. The guides and this page are free. When a seller asks, we introduce one local agent, and the agent pays us a flat fee for the introduction, never a share of their commission; it costs the seller nothing. If a figure looks wrong, tell us and we’ll fix it.