Rent, population, and median household income are important factors to consider for a 1031 exchange in San Mateo due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
San Mateo, California is a part of the Central San Mateo submarket area, and contains 5 zip codes: 94402, 94401, 94497, 94404, and 94403.
San Mateo Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the San Mateo, 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 San Mateo, CA was 4.10%.
The total population of the city of San Mateo, CA has grown 8.04% since 2010. As of 2018, the population was 105,025. The median household income of the San Mateo was $115,167, which is 91.01% higher than the national average.
- submarket area Central San Mateo
- avg rent $3,311
- rent growth 28.68%
- vacancy 4.10%
- median income $115,167
- population (2018) 105,025
- population growth 8.04%
- vs. nat'l avg 91.01%
- zip codes 94401 94402 94403 94404 94497