Median weekly rent, six-year trend and rental yield for Millwater — built from 48 tenancy bonds lodged with Tenancy Services, across the 2 statistical areas that make up the suburb.
Source · MBIE Tenancy Services — Q1 2026 · 48 new bonds · Reviewed Aug 2026 · Method
Source · MBIE Tenancy Services — Q1 2026 · Q1 2026 bond lodgements · Reviewed Aug 2026 · Method
Every one of the 246 suburbs we track is a tick on this scale, placed by its median weekly rent. Millwater is the 13th most expensive of the 246 Auckland suburbs we track — pricier than 95% of them.
Source · MBIE Tenancy Services — Q1 2026 · 246 Auckland suburbs · Reviewed Aug 2026 · Method
The median weekly rent in Millwater is $886, based on 48 new tenancy bonds lodged in Q1 2026. That is 42% above the Auckland-wide median of $622.
Over the past year the median has risen 7.4%, and it is up 13% on Q1 2020, when the median was $743.
Most new tenancies fall between $768 and $949 a week — the middle half of the market.
Millwater is the 13th most expensive of the 246 Auckland suburbs we track — pricier than 95% of them.
Source · MBIE Tenancy Services — Q1 2026 · Weighted geometric mean · Reviewed Aug 2026 · Method
Median weekly rent on new tenancies, Q1 2020 to Q1 2026. Hover the chart to read any quarter.
| Quarter | Median weekly rent | New bonds |
|---|---|---|
| Q1 2020 | $743 | 51 |
| Q2 2020 | $762 | 33 |
| Q3 2020 | $740 | 66 |
| Q4 2020 | $772 | 57 |
| Q1 2021 | $787 | 33 |
| Q2 2021 | $797 | 48 |
| Q3 2021 | $784 | 30 |
| Q4 2021 | $819 | 39 |
| Q1 2022 | $828 | 33 |
| Q2 2022 | $836 | 33 |
| Q3 2022 | $771 | 36 |
| Q4 2022 | $805 | 42 |
| Q1 2023 | $742 | 63 |
| Q2 2023 | $757 | 45 |
| Q3 2023 | $856 | 36 |
| Q4 2023 | $800 | 51 |
| Q1 2024 | $792 | 30 |
| Q2 2024 | $737 | 24 |
| Q3 2024 | $881 | 21 |
| Q4 2024 | $833 | 45 |
| Q1 2025 | $825 | 69 |
| Q2 2025 | $840 | 54 |
| Q3 2025 | $806 | 51 |
| Q4 2025 | $871 | 63 |
| Q1 2026 | $886 | 48 |
Source · MBIE Tenancy Services — Q1 2026 · Q1 2020 – Q1 2026 · Reviewed Aug 2026 · Method
Q1 2026. Sizes with fewer than five bonds are withheld by Tenancy Services to protect tenants' privacy.
Source · MBIE Tenancy Services — Q1 2026 · Withheld below 5 bonds · Reviewed Aug 2026 · Method
Pre-filled with the Millwater median rent. Enter a purchase price to see the gross yield.
Gross yield ignores rates, insurance, maintenance, management and vacancy. Net yield is typically 1–2 percentage points lower — the full calculator works both out.
Source · MBIE Tenancy Services — Q1 2026 · Rent pre-filled, price is yours · Reviewed Aug 2026 · Method
The closest suburbs to Millwater, by distance between area centres.
| Suburb | Median weekly | Difference | Distance |
|---|---|---|---|
| Orewa | $726 | -$160 | 2.5 km |
| Red Beach | $780 | -$106 | 2.6 km |
| Silverdale | $788 | -$98 | 2.8 km |
| Stanmore Bay | $647 | -$239 | 6.1 km |
| Whangaparoa | $710 | -$176 | 6.5 km |
| Dairy Flat | $820 | -$66 | 7.3 km |
Source · MBIE Tenancy Services — Q1 2026 · Straight-line distance, area centres · Reviewed Aug 2026 · Method
Rent tells you what a Millwater property earns today. Zoning tells you what it could become — a second dwelling on the same section changes the income on this page entirely.
Our companion tool PropertyScope reads Auckland Council's planning data for any Millwater address — the zone, how many dwellings are allowed, whether a 70m² granny flat qualifies, and any hazard overlays on the land. At the Millwater median of $886 a week, a second dwelling would add roughly $46,072 a year in gross rent.
Check Millwater zoning and development rules →There are 2 schools in Millwater. 2 of them operate an enrolment zone, so where you rent decides which ones you can enrol in. Our companion site NZ School Finder lists every one with its roll, year levels and zone status, straight from the Ministry of Education's directory — and publishes no rankings or ratings.
See the 2 schools in Millwater →Amit Sharma is an award-winning Auckland agent. Get a free, no-obligation appraisal of what your Millwater property would rent or sell for today — based on real local numbers, not a guess.
Request a free appraisalAreas included in Millwater: Millwater North · Millwater South. See how we combine them.
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