Rent, population, and median household income are important factors to consider for a 1031 exchange in Milpitas due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Milpitas, California is a part of the Northeast San Jose Submarket submarket area, and contains zip codes 95035 and 95036.
Milpitas Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Milpitas, CA submarket area was $2,661, which is 18.11% higher than 2014 average rent. This represents a compounded annual growth rate of 3.38%. 2019 vacancy in Milpitas, CA was 5.60%.
The total population of the city of Milpitas, CA has grown 20.42% since 2010. As of 2018, the population was 80,430. The median household income of the Milpitas was $125,161, which is 107.59% higher than the national average.
- submarket area Northeast San Jose Submarket
- avg rent $2,661
- rent growth 18.11%
- vacancy 5.60%
- median income $125,161
- population (2018) 80,430
- population growth 20.42%
- vs. nat'l avg 107.59%
- zip codes 95035 95036