Rent, population, and median household income are important factors to consider for a 1031 exchange in Millbrae due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Millbrae, California is a part of the Central San Mateo Submarket submarket area, and contains zip code 94030.
Millbrae Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Millbrae, 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 Millbrae, CA was 4.10%.
The total population of the city of Millbrae, CA has grown 4.76% since 2010. As of 2018, the population was 22,557. The median household income of the Millbrae was $120,565, which is 99.97% higher than the national average.
- submarket area Central San Mateo Submarket
- avg rent $3,311
- rent growth 28.68%
- vacancy 4.10%
- median income $120,565
- population (2018) 22,557
- population growth 4.76%
- vs. nat'l avg 99.97%
- zip code 94030