The size of Paloona is approximately 7.9 square kilometres. It has 9 parks covering nearly 11.5% of total area. The population of Paloona in 2011 was 1,024 people. By 2016 the population was 64 showing a population decline of 93.8% in the area during that time. The predominant age group in Paloona is 60-69 years. Households in Paloona are primarily childless couples and are likely to be repaying $450 - $599 per month on mortgage repayments. In general, people in Paloona work in a labourer occupation. In 2011, 83.3% of the homes in Paloona were owner-occupied compared with 79% in 2016.