HomeFloridaHillsborough County
Hillsborough County, Florida: commercial real estate data.
Hillsborough County, Florida has a population of 1,522,748 across 1,020 square miles, up 8.3 percent since the 2020 census base. County output reached $152.01 bn in 2024, 42,977 establishments operate here, and the SBA record carries 2,093 7(a) approvals worth $1.23 bn.
129 sourced county values · tier FULL · 12 sections
Hillsborough County
How many people live in Hillsborough County
- Population1,522,748
- Households583,192
- Average household size2.61
- Median household income$79,540
- Median age37.9
- Median gross rent$1,667 per month
- Median owner-occupied home value$371,500
- Home value to household income4.7 times
- Annual rent as a share of median income25.1 percent
- Adults 25 and over with a bachelor degree or higher38.1 percent
- Adults 25 and over with a graduate degree14.6 percent
- Adults 25 and over1,054,856
- Population under 18329,191
- Share under 1821.6 percent
- Population 65 and over229,164
- Share 65 and over15.0 percent
- Working age population, 18 to 64964,393
- Civilian labor force802,809
- Unemployment rate4.5 percent
- Labor force participation, adults 18 and over67.3 percent
- Rank by population among Florida counties4th of 67
- Rank by population among US county-equivalents27th
Hillsborough County is the 4th largest of 67 Florida counties by population. A median home costs 4.7 times median household income, which is an affordable ownership market by national standards. Residents under 18 outnumber those 65 and over, at 21.6 percent against 15.0 percent, a household formation profile rather than a retirement one.
US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Hillsborough County
Is Hillsborough County growing
- Population change since the 2020 census base8.33 percent
- Census 2020 base population1,459,774
- Births, 202416,857
- Deaths, 202412,011
- Natural change, 20244,846
- Net domestic migration, 2024-11,188
- Net international migration, 202430,485
- Total net migration, 202419,297
- Cumulative net domestic migration, 2021 to 202419,859
- Rank by growth among US county-equivalents217th
The county has grown 8.33 percent since the 2020 census base. Migration contributed more to 2024 change than births over deaths, so demand here follows people arriving rather than families forming.
US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
Hillsborough County
Where people moving to Hillsborough County come from
- Tax returns filed by households arriving51,410
- People arriving, from those returns87,287
- Adjusted gross income arriving$4.60 bn
- Net adjusted gross income movement$0
- Average income of an arriving household$89,570
- Largest single originHillsborough County Non-migrants (559,556 households)
- Largest single destination (559,556 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Hillsborough County Non-migrants | 559,556 | 1,083,043 | $52.77 bn |
| Other flows - Different State | 6,018 | 10,712 | $453.9 m |
| Pinellas County | 4,752 | 7,361 | $442.5 m |
| Pasco County | 3,917 | 6,690 | $249.4 m |
| Other flows - South | 2,723 | 4,974 | $183.7 m |
| Polk County | 2,044 | 3,598 | $130.5 m |
| Other flows - Midwest | 1,762 | 3,085 | $139.7 m |
| Miami-Dade County | 1,550 | 2,507 | $104.2 m |
The largest single source of arrivals is Hillsborough County Non-migrants, which is the catchment a retail or multifamily study should look at first.
US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Hillsborough County
What the Hillsborough County economy runs on
- County GDP, 2024$152.01 bn
- County GDP, 2023$142.80 bn
- GDP change, 2023 to 20246.4 percent
- GDP change over five years49.3 percent
- Rank by GDP among Florida counties4th
- Rank by GDP among US county-equivalents29th
- GDP per resident$99,826
Output grew 6.4 percent in the latest year and 49.3 percent over five, which is the trend line a lender will read behind any single year figure.
US Bureau of Economic Analysis, Regional, table CAGDP2, CAGDP2, through 2024.
Hillsborough County
Who employs people in Hillsborough County
- Covered employment, annual average789,442
- Establishments reporting58,449
- Average annual pay$75,256
- Average weekly wage$1,447
- Sector 62, employment104,069
- Sector 62, average annual pay$72,116
- Sector 54, employment81,509
- Sector 54, average annual pay$111,681
- Sector 44-45, employment76,112
- Sector 44-45, average annual pay$43,706
- Sector 52, employment69,351
- Sector 52, average annual pay$121,007
- Sector 72, employment66,948
- Sector 56, employment56,840
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Sector 62 | 104,069 | 6,617 | $72,116 |
| Sector 54 | 81,509 | 11,040 | $111,681 |
| Sector 44-45 | 76,112 | 5,280 | $43,706 |
| Sector 52 | 69,351 | 3,188 | $121,007 |
| Sector 72 | 66,948 | 3,484 | $32,017 |
| Sector 56 | 56,840 | 4,513 | $55,460 |
| Sector 23 | 51,658 | 5,531 | $78,380 |
| Sector 42 | 35,842 | 2,846 | $98,971 |
The largest sector is the biggest private employer group at 104,069 jobs, 13.2 percent of covered employment. Average pay per job sits below median household income, so households here typically need more than one earner.
US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
Hillsborough County
What businesses operate in Hillsborough County
- Establishments, all industries42,977
- Employment at those establishments697,689
- Annual payroll$47.31 bn
- Establishments per 1,000 residents28.2
These are counts of establishments physically operating in the county, not listings, so they are the supply side a feasibility study measures demand against.
US Census Bureau, County Business Patterns, 2023.
Hillsborough County
What is being built in Hillsborough County
- Housing units authorised by permit, 20249,053
- Declared construction value permitted$2.20 bn
- Single family units authorised4,402
- Multifamily units authorised4,651
- Multifamily share of units51.4 percent
- Average declared value per unit$242,763
- Units authorised per 1,000 households15.5
Multifamily is 51.4 percent of units authorised, so the pipeline is being built for renters rather than buyers.
US Census Bureau, Building Permits Survey, 2024 annual.
Hillsborough County
How much SBA lending happens in Hillsborough County
- 7(a) approvals recorded2,093
- 7(a) gross approval dollars$1.23 bn
- Average 7(a) approval$585,460
- Median 7(a) approval$290,400
- 10th percentile approval$40,000
- 90th percentile approval$1,455,000
- Largest single approval$5,000,000
- Jobs reported supported, 7(a)24,616
- Jobs per approval11.8
- Distinct 7(a) lenders active146
- Distinct industries receiving approvals383
- Median 7(a) term120 months
- Share of loans on real estate terms, 240 months or longer14.3 percent
- Loans on real estate terms300
- Loans on working capital terms, 120 months or shorter1,623
- Franchise loans363
- Franchise share of approvals17.3 percent
- Leading industry by approval countFull-Service Restaurants (87)
- Most active lenderThe Huntington National Bank (215)
- 504 approvals recorded830
- 504 gross approval dollars$613.2 m
- Average 504 approval$738,792
- Median 504 approval$453,000
- Distinct CDCs active4
- 504 jobs per approval7.9
- 504 jobs per million dollars approved10.6
- Most active CDCFlorida Business Development Corporation (543)
- 7(a) share of SBA approvals71.6 percent
- Combined SBA approval dollars$1.84 bn
The average approval of $585,460 sits well above the median of $290,400, so a small number of large deals is pulling the mean up. The median is the better guide to what a typical borrower here actually gets. Only 14.3 percent of approvals run on real estate terms, so SBA credit here is mostly working capital and equipment rather than property acquisition.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30. US Small Business Administration, 504 FOIA release, FY2010 to FY2026 year to date, as of 2026-06-30.
Hillsborough County
Do SBA loans in Hillsborough County get paid back
- Loans with a final outcome recorded367
- Paid in full321
- Charged off46
- Charge off rate on resolved loans12.5 percent
- Status: Exempt from disclosure1,296
- Status: Paid in full321
- Status: Charged off46
- Status: Cancelled302
- Status: Committed, not yet disbursed128
| NAICS | Industry | Resolved loans | Charged off | Charge off rate |
|---|---|---|---|---|
| 722513 | Limited-Service Restaurants | 13 | 0 | 0.0% |
| 621111 | Offices of Physicians (except Mental Health Specialists) | 11 | 0 | 0.0% |
| 713940 | Fitness and Recreational Sports Centers | 10 | 2 | 20.0% |
| 812112 | Beauty Salons | 10 | 1 | 10.0% |
Of the 367 loans that have reached a final outcome, 12.5 percent were charged off. This is computed only over resolved loans, because a loan still running has not yet succeeded or failed and counting it either way would be wrong. Among industries with at least ten resolved loans, Fitness and Recreational Sports Centers carries the highest charge off rate at 20.0 percent.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Hillsborough County
Which parts of Hillsborough County get the lending
- Places in the county with recorded lending36
- TAMPA, approvals1,335
- BRANDON, approvals145
- Riverview, approvals123
- LUTZ, approvals77
- Valrico, approvals60
- Plant City, approvals58
| Place | Approvals | Gross approval dollars |
|---|---|---|
| TAMPA | 1,335 | $835,058,200 |
| BRANDON | 145 | $64,867,000 |
| Riverview | 123 | $63,101,400 |
| LUTZ | 77 | $41,968,700 |
| Valrico | 60 | $22,209,700 |
| Plant City | 58 | $48,936,900 |
| APOLLO BEACH | 51 | $26,062,300 |
| LITHIA | 35 | $19,622,700 |
TAMPA accounts for 1,335 approvals against 145 in BRANDON. County level figures average over that gap, which is why a site decision is made at the submarket rather than the county.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Hillsborough County
How big is Hillsborough County
- Land area1,020 sq mi
- Rank by land area among Florida counties13th of 67
- Width, east to west36.5 mi
- Height, north to south36.5 mi
- Geographies sharing a boundary4
- Residents per square mile of land1,493
- Establishments per square mile42.13
US Census Bureau county boundary geometry, TIGER, adjacency computed from shared boundary vertices, TIGER county boundaries. US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year. US Census Bureau, County Business Patterns, 2023.
Hillsborough County
What hazards affect Hillsborough County
- EPA radon zone predicted average indoor radon screening level from 2 to 4 pCi/LZone 2
- Communities in the NFIP Community Status Book4
- Of those, participating in the NFIP4
- NFIP participation rate100.0 percent
- Best Community Rating System class in the county A lower CRS class is a larger flood insurance premium discount.Class 5
- Communities carrying a CRS class4
The EPA places the county in radon zone 2, a predicted average indoor radon screening level from 2 to 4 pCi/L. The best Community Rating System class in the county is 5, which carries a flood insurance premium discount for properties in the participating community.
US EPA, Map of Radon Zones, county spreadsheet, 2024-05 publication, EPA 402/A-16/001. FEMA OpenFEMA, NFIP Community Status Book, Community Status Book, as retrieved.
Coverage
What this page does not hold.
Every item below could be filled with a plausible figure. None of them is. On a page a lender may read, a number that cannot be traced is worse than an absence, so the absences are named.
- Flood zone record counts are not held. The flood coverage export has not landed, so no count is shown rather than an estimated one.
- Traffic counts resolve in the platform, not in this dataset, so no AADT figure is printed here.
- Zoning is in build. Parcel level zoning is not published on this page.
Feasibility studies
When a Hillsborough County site needs a document a lender will accept.
The same data layer behind this page is the one the studies are written from. A study for a Hillsborough County site starts with the figures you are reading, carrying the same source and period into the credit file.
- Population1,522,748
- Households583,192
- Average household size2.61
- Median household income$79,540
- Median age37.9
Common questions
Hillsborough County questions, answered from the record.
How many people live in Hillsborough County, Florida?
1,522,748, in 583,192 households, ranking 4th of 67 Florida counties. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Is Hillsborough County growing?
The population has grown 8.33 percent since the 2020 census base. In 2024 there were 16,857 births against 12,011 deaths, with net migration of 19,297. Source: US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
What is the median household income in Hillsborough County?
$79,540. The median owner-occupied home is valued at $371,500, which is 4.7 times income, and median gross rent is $1,667 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
How many businesses are there in Hillsborough County?
42,977 establishments, employing 697,689 people with an annual payroll of $47.31 bn. These are establishments physically operating in the county, not listings. Source: US Census Bureau, County Business Patterns, 2023.
What is the average wage in Hillsborough County?
Average annual pay is $75,256, or $1,447 a week, across 789,442 covered jobs. Source: US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
How much SBA lending happens in Hillsborough County?
2,093 7(a) approvals totalling $1.23 bn since FY2020, across 146 lenders, with a median approval of $290,400, plus 830 504 approvals worth $613.2 m. These are approvals recorded in the release, not loans disbursed.
Do SBA loans in Hillsborough County get paid back?
Of the 367 loans that have reached a final outcome, 321 were paid in full and 46 charged off, a charge off rate of 12.5 percent. Loans still running are excluded, because they have not yet succeeded or failed.
What is being built in Hillsborough County?
9,053 housing units were authorised by permit in 2024, with a declared construction value of $2.20 bn. Multifamily was 51.4 percent of units. Source: US Census Bureau, Building Permits Survey, 2024 annual.
What is the radon zone for Hillsborough County?
Zone 2, a predicted average indoor radon screening level from 2 to 4 pCi/L. Source: US EPA, Map of Radon Zones, county spreadsheet, 2024-05 publication, EPA 402/A-16/001.
Where do people moving to Hillsborough County come from?
The largest single origin is Hillsborough County Non-migrants, with 559,556 households. Arriving households report an average income of $89,570 against null for those leaving. Source: US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Are traffic counts available for Hillsborough County on this page?
No. Annual average daily traffic resolves in the platform rather than in this dataset, so no AADT figure is printed here. It is a gap we know about rather than a figure we estimated.
Is zoning published for Hillsborough County?
Not yet. The zoning layer is in build. Nothing on this page presents parcel level zoning, and where a statutory framework applies it is marked as the statewide frame with confirm locally attached.