Average rent in Magnetic Island, QLD — 2026

Magnetic Island sits below the Queensland median, with the typical renter paying $290/week — 19% less than the state-wide $359/week baseline (ABS Census 2021). The suburb skews owner-occupied: 69% own outright or with a mortgage, and only 27% rent. Housing stock is dominated by separate houses (83%), with limited high-density development. Population sits at 2,475, the median age is 58, and the most common occupation is Professionals. 25% of residents were born overseas. Magnetic Island is 1121km from Brisbane, often putting it outside the inner-ring rent pressure zone — though state-level rent indices show the 2021 baseline is now meaningfully out of date. Your reported figure above gives the live read; the Census number anchors the historical baseline.