The size of Rapid Bay is approximately 15.6 square kilometres. The population of Rapid Bay in 2011 was 496 people. By 2016 the population was 3 showing a population decline of 99.4% in the area during that time. The predominant age group in Rapid Bay is 50-59 years. Households in Rapid Bay are primarily childless couples and are likely to be repaying $1000 - $1399 per month on mortgage repayments. In general, people in Rapid Bay work in a trades occupation. In 2006, 36.8% of the homes in Rapid Bay were owner-occupied compared with 68.7% in 2011..
Rapid Bay has 40 properties. Over the last 5 years, Houses in Rapid Bay have seen a 83.89% increase in median value. As at 31 October 2024:
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