Rent, population, and median household income are important factors to consider for a 1031 exchange in Hillsborough due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Hillsborough, California is a part of the Central San Mateo Submarket submarket area.
Hillsborough Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Hillsborough, CA submarket area was $3,311, which is 28.68% higher than 2014 average rent. This represents a compounded annual growth rate of 5.17%. 2019 vacancy in Hillsborough, CA was 4.10%.
The total population of the city of Hillsborough, CA has grown 5.72% since 2010. As of 2018, the population was 11,444. The median household income of the Hillsborough was $250,000, which is 314.64% higher than the national average.
- submarket area Central San Mateo Submarket
- avg rent $3,311
- rent growth 28.68%
- vacancy 4.10%
- median income $250,000
- population (2018) 11,444
- population growth 5.72%
- vs. nat'l avg 314.64%