Rent, population, and median household income are important factors to consider for a 1031 exchange in Belmont due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Belmont, California is a part of the South San Mateo Submarket submarket area, and contains zip code 94002.
Belmont Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Belmont, CA submarket area was $3,057, which is 30.31% higher than 2014 average rent. This represents a compounded annual growth rate of 5.44%. 2019 vacancy in Belmont, CA was 4.80%.
The total population of the city of Belmont, CA has grown 4.95% since 2010. As of 2018, the population was 27,113. The median household income of the Belmont was $135,342, which is 124.47% higher than the national average.
- submarket area South San Mateo Submarket
- avg rent $3,057
- rent growth 30.31%
- vacancy 4.80%
- median income $135,342
- population (2018) 27,113
- population growth 4.95%
- vs. nat'l avg 124.47%
- zip code 94002
