Suburb guide · Parramatta council area
Mortgage broker for Parramatta (2150) home buyers
1,672 Nepal-born people lived in Parramatta at the 2021 Census, the third-largest overseas-born group after India (9,350), out of 30,211 residents. With 85.6% of homes in apartment buildings, most first purchases here are units; the median in postcode 2150 was $620,000 in January to March 2026. There is no Parramatta shopfront to visit. Sulav meets clients from Parramatta by phone or video and manages the loan through to settlement.
On this page
Parramatta at a glance
- Residents
- 30,21111,749 occupied homesABS Census 2021
- Born overseas
- 69.2%Top birthplaces: India, China, NepalABS Census 2021
- Born in Nepal
- 1,6725.5% of residentsABS Census 2021
- Speak Nepali at home
- 1,5935.3% of residentsABS Census 2021
- Arrived 2016 to 2021
- 34.5%10,430 people born overseasABS Census 2021
- Median age
- 322.4 people per householdABS Census 2021
- Median household income
- $2,092/wk$108,784 a yearABS Census 2021
- Households renting
- 70.2%18% mortgage, 9.6% owned outrightABS Census 2021
- Flats and apartments
- 85.6%7.7% separate houses, 5.7% semis and townhousesABS Census 2021
- Median rent, new leases
- $700/wkAll dwellings, postcode 2150NSW DCJ, April to June 2026
The suburb covers 5.2299999999999995 km² and is wholly in the Parramatta council area. Of the 26 NSW suburbs in our guides, Parramatta has the eighth-highest Nepal-born population (1,672) and the seventh-highest median household income ($2,092 a week). A median age of 32 makes it one of the younger suburbs we cover, with 2.4 people in the average household. Only 9.7% of workers used a train on Census day 2021, a lockdown day when 49.4% worked from home.
What it costs to buy in Parramatta
In January to March 2026, the median strata sale (mostly units and townhouses) in postcode 2150 was $620,000 from 221 sales. For houses, the median non-strata sale in Parramatta council area was $1,860,000 from 266 sales. DCJ did not publish a house median for postcode 2150 this quarter (10 or fewer sales), so the house column uses the Parramatta council-area median. A house costs 3 times as much as a unit here, a gap of $1,240,000. Against the median household income recorded here in 2021 ($108,784 a year), that is 5.7 times for a unit and 17.1 times for a house.
| Item | Median unit | Median house (council area) |
|---|---|---|
| Median sale price | $620,000 | $1,860,000 |
| 5% deposit | $31,000 | $93,000 |
| 10% deposit | $62,000 | $186,000 |
| 20% deposit (no LMI) | $124,000 | $372,000 |
| Transfer duty, standard | $22,087 | $83,587 |
| Transfer duty, first home buyer | $0 | $83,587 |
| Registration fees | $365 | $365 |
| 5% Deposit Scheme cap ($1,500,000) | Under | Over |
| Cash needed, first home buyer, 10% deposit | $62,365 | $269,952 |
- Owner-occupier, established home, every scheme condition met. Cash needed excludes conveyancing and LMI. 2026-27 rules, checked 26 October 2026.
An eligible first home buyer pays no transfer duty on the median unit, because $620,000 is below the scheme's $800,000 full-exemption limit; anyone else pays $22,087. At $1,860,000 the council-area median house is above the $1,000,000 cut-off, so a first home buyer pays the full $83,587.
With the scheme, a unit at the median needs only $31,000 down and no LMI. The council-area median house is $360,000 above the $1,500,000 cap.
Try a price other than $620,000 in the NSW stamp duty calculator
Renting vs buying in Parramatta
A renter signing a new lease in postcode 2150 in April to June 2026 paid a median $700 a week ($36,400 a year); DCJ counted 782 new bonds. By size, a two-bedroom unit leased for $700 a week and a three-bedroom house for $770.
The 2021 Census recorded a median rent of $440 a week and a median mortgage repayment of $2,080 a month, 9% more than the median rent. Today's new-lease median is 59% above that 2021 rent. DCJ counts only new bonds and the Census counts every renting household, so read the gap as a direction, not an exact rise. That 2021 rent was 21% of a median household's income.
A 5% deposit on the median unit ($31,000) equals about 44 weeks of the current median rent, less than a year of rent. With 70.2% of households renting, Parramatta is mainly a renters' suburb, so for many people here the question is when to make the first purchase, not where.
| Dwelling | Weekly | Yearly | New bonds |
|---|---|---|---|
| All dwellings | $700 | $36,400 | 782 |
| 1-bedroom unit | $650 | $33,800 | 183 |
| 2-bedroom unit | $700 | $36,400 | 429 |
| 3-bedroom unit | $950 | $49,400 | 66 |
| House (all sizes) | $750 | $39,000 | 56 |
| 3-bedroom house (small sample) | $770 | $40,040 | 11 to 30 |
| Townhouse (all sizes) (small sample) | $700 | $36,400 | 11 to 30 |
- No interest rate is assumed: compare with your own rate in the repayments calculator.
Parramatta buyers we work with
Buyers from the Nepali community
1,672 residents (5.5%) were born in Nepal and 1,593 speak Nepali at home, about one in 18 of the suburb. Common questions here: will a lender accept a gift from parents in Nepal, how is overseas income or savings counted, and what does a deposit in lakh come to in dollars.
Nepali community home loans NPR to AUD converter
Recent arrivals and visa holders
Recent arrivals are a big group: 10,430 people came to Australia between 2016 and 2021, 49.9% of everyone here born overseas. Your visa changes the numbers: a temporary resident pays 9% surcharge purchaser duty, needs FIRB approval and is generally limited to new homes until 30 June 2029, while a permanent resident is treated much like a citizen. The surcharge alone is $55,800 on the median unit. Postcode 2150 is not a designated regional area, so a 491 or 494 holder bound by condition 8579 can't live here on that visa.
Visa guides: subclass 189, 190, 491, 482.
First home buyers
70.2% of households rent, about seven in ten. On the median unit, a first purchase means $31,000 for a 5% deposit, no transfer duty and a price inside the 5% scheme cap. A gift from family or a guarantor can close the gap, but lenders still want to see your own savings history.
Buying a unit
85.6% of homes are flats or apartments, and lender policies differ on units, for example on minimum floor area and high-density buildings. Send us the building address early: we check which lenders accept it before you spend money on reports.
Compare nearby suburbs
The nearest suburb we cover is Westmead, 2.1 km away. Four of the five neighbours listed have a lower median unit price than Parramatta's $620,000. Auburn has a larger Nepal-born community (5,009 people).
| Suburb | Distance | Born in Nepal | Median rent | Median unit |
|---|---|---|---|---|
| Parramatta | — | 1,672 | $700/wk | $620,000 |
| Westmead | 2.1 km | 571 | $680/wk | $600,000 |
| Granville | 2.4 km | 2,240 | $630/wk | $563,000 |
| Merrylands | 3 km | 947 | $650/wk | $548,000 |
| Auburn | 4.4 km | 5,009 | $680/wk | $610,000 |
| Lidcombe | 5.7 km | 1,491 | $780/wk | $807,000 |
- Born in Nepal: ABS Census 2021. Rent and unit price: NSW DCJ, latest quarter.
See Westmead rents and prices, our Granville guide or the Merrylands suburb guide. All NSW suburb guides
Parramatta buyers often ask
How much stamp duty would a first home buyer pay on a median Parramatta unit?
None, if you qualify for the First Home Buyers Assistance Scheme: the $620,000 median unit is under the exemption limit. Other buyers pay $22,087. Checked against Revenue NSW on 26 October 2026.
What deposit do I need to buy in Parramatta?
For the median unit ($620,000): $31,000 at 5%, $62,000 at 10% or $124,000 at 20%. The council-area median house needs $372,000 for 20%. Below 20%, expect LMI unless you use the 5% Deposit Scheme or a guarantor.
Can I use the 5% Deposit Scheme in Parramatta?
The median unit ($620,000) is $880,000 under the $1,500,000 cap. The council-area median house ($1,860,000) is $360,000 over the $1,500,000 cap. You must be a citizen or permanent resident and a first home buyer.
Is it cheaper to rent or buy in Parramatta?
We can't say without your rate. For scale: a year of median rent on a new lease is $36,400, and 2021 mortgage repayments ran at a median $24,960 a year.
Can I buy in Parramatta on a 491 visa?
Only once you move to the permanent 191. Until then condition 8579 keeps you in a designated regional area, and postcode 2150 is not one.
Your Parramatta numbers, checked
Sulav checks your deposit, income and visa against lender policy for a unit around $620,000, in a 60-minute call by phone or video.
Sources
Data last updated . Census figures are for 2021; DCJ figures are quarterly medians.
- ABS QuickStats 2021: Parramatta (SAL13167)
- ABS Census 2021 tables for SAL13167
- ASGS Edition 3 boundaries
- Rent and Sales Report, sales January to March 2026
- Rent and Sales Report, rents April to June 2026
- Transfer duty rates
- First Home Buyers Assistance Scheme (new or existing home)
- 5% Deposit Scheme price caps
- Regional postcodes (condition 8579)
- Established dwelling ban