Devonport is one of Auckland's most characterful harbour-side suburbs, attracting a stable, high-income renter base willing to pay a premium for its village atmosphere and ferry access to the CBD. With a median weekly rent of $890 and indicative gross yields ranging from 3.7% to 5.1%, it offers investors a blend of prestige and steady rental income.
Analyse a Devonport propertyMedian weekly rent in Devonport from MBIE tenancy bond records (2025-12, 3-month period). Real lodged-bond data — not estimates.
Indicative gross yield range of 3.7%–5.1% uses the rent against the Auckland median sale price of $1,000,000. Net yield is lower after rates, insurance, management and maintenance.
From the Stats NZ 2023 Census. Rental demand indicators that shape tenant pool and vacancy.
Devonport draws a relatively affluent renter cohort, consistent with the suburb's median household income of $135,900 — well above the Auckland average. At a median age of 37, tenants tend to be established professionals and families who prize the suburb's heritage streetscapes, waterfront amenity, and the convenience of the Devonport ferry for the CBD commute.
With 29% of Devonport's 3,180 residents renting rather than owning, the tenant pool is relatively contained, which typically supports rental pricing. The weekly rent range of $705 to $975 across the lower and upper quartiles reflects genuine demand at multiple price points, from compact two-bedroom homes at a median of $713 per week through to three-bedroom family properties commanding $900 per week.
Indicative gross yields in Devonport sit between 3.7% and 5.1%, calculated against the Auckland median price of $1,000,000. These figures are modest by national standards, which is typical of premium coastal suburbs where capital-growth expectations are baked into purchase prices. Investors should model net returns carefully once rates, insurance, management fees, and maintenance are deducted from gross rental income.
Cash-flow neutrality or positive returns are achievable at the upper end of the yield range, particularly for investors who purchase below the city median or add value through renovation. However, at the lower end of the yield range, ongoing holding costs may mean the investment case rests more heavily on long-term capital appreciation than immediate income.
Devonport presents a classic prestige-suburb trade-off: high-quality tenants, a strong median rent of $890 per week, and a low vacancy environment, offset by purchase prices that compress gross yields to between 3.7% and 5.1%. The suburb's affluent demographic — reflected in a median household income of $135,900 — reduces rent-default risk and supports consistent rental demand even through softer market conditions.
For investors with a long-term horizon and sufficient capital to weather periods of low cash flow, Devonport's scarcity of rental stock and enduring lifestyle appeal provide a sound foundation for wealth preservation and growth.
Run the numbers on any Devonport listing with PropertyMetrics NZ — enter an address to instantly model gross yield, cash flow, and rent estimates using real suburb data.
Analyse a property free