Rent, population, and median household income are important factors to consider for a 1031 exchange in Menlo Park due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Menlo Park, California is a part of the South San Mateo Submarket submarket area, and contains zip codes 94025 and 94026.
Menlo Park Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Menlo Park, 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 Menlo Park, CA was 4.80%.
The total population of the city of Menlo Park, CA has grown 7.60% since 2010. As of 2018, the population was 34,459. The median household income of the Menlo Park was $147,824, which is 145.18% higher than the national average.
- submarket area South San Mateo Submarket
- avg rent $3,057
- rent growth 30.31%
- vacancy 4.80%
- median income $147,824
- population (2018) 34,459
- population growth 7.60%
- vs. nat'l avg 145.18%
- zip codes 94025 94026