The size of Flagstone is approximately 14.4 square kilometres. It has 12 parks covering nearly 4.2% of total area. The population of Flagstone in 2011 was 3,446 people. By 2016 the population was 40 showing a population decline of 98.8% in the area during that time. The predominant age group in Flagstone is 50-59 years. Households in Flagstone are primarily couples with children and are likely to be repaying $600 - $799 per month on mortgage repayments. In general, people in Flagstone work in a labourer occupation. In 2006, 11.8% of the homes in Flagstone were owner-occupied compared with 93.2% in 2011. Currently the median sales price of houses in the area is $550,000.