HomeFloridaHillsborough County
Hillsborough County, Florida: commercial real estate data.
Hillsborough County, Florida had an estimated 1,581,426 residents on July 1, 2024, up 8.3 percent since the 2020 census base of 1,459,774, across 1,020 square miles. 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 since FY2020.
Underlined figures are computed by MMCG Analytics, not published by the agency.
Hillsborough County
How many people live in Hillsborough County
- Population, American Community Survey 2020-20241,522,748
- 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-equivalents, Puerto Rico included27th of 3,222
Hillsborough County is the 4th largest of 67 Florida counties by population. A median home costs 4.7 times median household income, which is seriously unaffordable 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's population growing?
- Population, July 1, 20241,581,426
- Census 2020 base population1,459,774
- Population change since the 2020 census base8.33 percent
- Population change, 2023 to 202424,113
- 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 of 3,144
The county has grown 8.33 percent since the 2020 census base. The population grew in 2024 from both sources: births exceeded deaths and more people moved in than left.
US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
Hillsborough County
Where are people moving to Hillsborough County from?
- Tax returns filed by households arriving51,410
- People arriving, from those returns87,287
- Tax returns filed by households leaving46,582
- Net household movement4,828
- Adjusted gross income arriving$4.60 bn
- Net adjusted gross income movement$1.15 bn
- Average income of an arriving household$89,570
- Average income of a leaving household$74,259
- Largest single originPinellas County (4,752 households)
- Largest single destinationPasco County (7,439 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Pinellas County | 4,752 | 7,361 | $442.5 m |
| Pasco County | 3,917 | 6,690 | $249.4 m |
| Polk County | 2,044 | 3,598 | $130.5 m |
| Miami-Dade County | 1,550 | 2,507 | $104.2 m |
| Orange County | 1,266 | 1,885 | $80.3 m |
| Manatee County | 1,209 | 2,103 | $83.0 m |
| Broward County | 1,059 | 1,725 | $71.6 m |
| Palm Beach County | 631 | 988 | $45.4 m |
Households arriving report $15,311 more average income than households leaving, so the migration is raising local spending power rather than just moving it around. The largest single source of arrivals is Pinellas County, 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 is the Hillsborough County economy?
- 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 the Florida areas BEA publishes4th of 67
- Rank by GDP among the US county areas BEA publishes29th of 3,127
- 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
Employment by industry in Hillsborough County
- Covered employment, annual average789,442
- Establishments reporting58,449
- Average annual pay$75,256
- Average weekly wage$1,447
- Health care and social assistance, employment104,069
- Health care and social assistance, average annual pay$72,116
- Professional, scientific and technical services, employment81,509
- Professional, scientific and technical services, average annual pay$111,681
- Retail trade, employment76,112
- Retail trade, average annual pay$43,706
- Finance and insurance, employment69,351
- Finance and insurance, average annual pay$121,007
- Accommodation and food services, employment66,948
- Administrative and support and waste management services, employment56,840
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Health care and social assistance | 104,069 | 6,617 | $72,116 |
| Professional, scientific and technical services | 81,509 | 11,040 | $111,681 |
| Retail trade | 76,112 | 5,280 | $43,706 |
| Finance and insurance | 69,351 | 3,188 | $121,007 |
| Accommodation and food services | 66,948 | 3,484 | $32,017 |
| Administrative and support and waste management services | 56,840 | 4,513 | $55,460 |
| Construction | 51,658 | 5,531 | $78,380 |
| Wholesale trade | 35,842 | 2,846 | $98,971 |
Health care and social assistance is the largest private sector at 104,069 jobs, 13.2 percent of covered employment.
US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
Hillsborough County
How many businesses are 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. County Business Patterns counts private establishments with paid employees in March 2023, while the Quarterly Census of Employment and Wages above counts every unemployment-insured employer, public ones included, as a 2024 annual average, so the two establishment and employment counts differ.
US Census Bureau, County Business Patterns, 2023.
Hillsborough County
Building permits in Hillsborough County
- Housing units authorized by permit, 20249,053
- Declared construction value permitted$2.20 bn
- Single family units authorized4,402
- Multifamily units authorized4,651
- Multifamily share of units51.4 percent
- Average declared value per unit$242,763
- Units authorized per 1,000 households15.5
Multifamily is 51.4 percent of units authorized, so the pipeline is being built for renters rather than buyers.
US Census Bureau, Building Permits Survey, 2024 annual.
Hillsborough County
SBA loans in Hillsborough County (7(a) and 504)
- 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)
- Combined SBA approval dollars, 7(a) FY2020 to FY2026 and 504 FY2010 to FY2026$1.84 bn
The average approval of $585,460 sits well above the median of $290,400, pulled up by a few larger deals, so the median is the better guide to what a typical borrower here 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
SBA loan default and charge-off rates in 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
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.
Compare against the national and state SBA charge-off rates, computed the same way over resolved loans only.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Hillsborough County
SBA lending by place in Hillsborough County
- Borrower cities with recorded lending36
- Tampa, approvals1,335
- Brandon, approvals145
- Riverview, approvals123
- Lutz, approvals77
- Valrico, approvals60
- Plant City, approvals58
| Borrower city | 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 |
| 28 other borrower cities | 209 | $103,540,700 |
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 large 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
Flood risk in Hillsborough County
- Participation of the county's own NFIP community Hillsborough County, unincorporated areasParticipating, community 120112
- Community Rating System class of the county's own communityClass 4
- Communities in the county 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 4
- Communities carrying a CRS class4
- Radon levels in Hillsborough County, EPA zone predicted average indoor radon screening level from 2 to 4 pCi/LZone 2
The county's own community in the status book, unincorporated Hillsborough County (community 120112), participates in the National Flood Insurance Program and carries Community Rating System class 4, a flood insurance premium discount for policies written there. The EPA places Hillsborough County in radon zone 2, a predicted average indoor radon screening level from 2 to 4 pCi/L. The zone is a screening prediction for the county and does not substitute for a test at an address. The best Community Rating System class among the county's communities is 4, which carries a flood insurance premium discount for policies written in that community. 100.0 percent of the county's listed communities participate in the National Flood Insurance Program, per Federal Emergency Management Agency, NFIP Community Status Book (OpenFEMA), as of 2026-09-26.
Federal Emergency Management Agency, NFIP Community Status Book (OpenFEMA), as of 2026-09-26. US EPA, Map of Radon Zones, county spreadsheet, 2024-05 publication, EPA 402/A-16/001.
Coverage
What this page does not hold.
Traffic counts, zoning and the flood zone at an address are not on this page; they resolve at the address in the platform. How this page was built →
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.
- Population, American Community Survey 2020-20241,522,748
- 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?
The Census Bureau estimates 1,581,426 residents on July 1, 2024 (US Census Bureau, Population Estimates Program, Vintage 2024). The American Community Survey 2020-2024 five-year estimate is 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's population growing?
The population has grown 8.33 percent since the 2020 census base of 1,459,774, to 1,581,426 on July 1, 2024. 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 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 employment by industry in Hillsborough County?
Health care and social assistance is the largest private sector at 104,069 jobs, 13.2 percent of covered employment. Covered employment averages 789,442 jobs at an average annual pay of $75,256, or $1,447 a week. 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 totaling $1.23 bn since FY2020, across 146 lenders, with a median approval of $290,400, plus 830 504 approvals worth $613.2 m since FY2010. 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.
How many building permits were issued in Hillsborough County?
9,053 housing units were authorized 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 Pinellas County, with 4,752 households. Arriving households report an average income of $89,570 against $74,259 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?
No. Nothing on this page presents parcel level zoning, and where a statutory framework applies it is marked as the statewide frame, to be confirmed locally.
Hillsborough County
Cities and places in Hillsborough.
33 Census places lie wholly or partly in Hillsborough County. All 33 carry enough published place level data for a page of their own and are linked.
| Place | Type | Population | SBA 7(a) approvals, projects in this county | Lies in |
|---|---|---|---|---|
| Tampa | city | 401,618 | 1,335 | Wholly in this county |
| Brandon | CDP | 119,767 | 145 | Wholly in this county |
| Riverview | CDP | 113,697 | 123 | Wholly in this county |
| Town 'n' Country | CDP | 85,928 | None recorded | Wholly in this county |
| University | CDP | 48,127 | None recorded | Wholly in this county |
| Plant City | city | 40,887 | 58 | Wholly in this county |
| Valrico | CDP | 40,239 | 60 | Wholly in this county |
| Carrollwood | CDP | 36,725 | None recorded | Wholly in this county |
| Egypt Lake-Leto | CDP | 35,873 | None recorded | Wholly in this county |
| Sun City Center | CDP | 33,548 | 10 | Wholly in this county |
| Apollo Beach | CDP | 33,355 | 51 | Wholly in this county |
| Lake Magdalene | CDP | 32,083 | None recorded | Wholly in this county |
| Ruskin | CDP | 29,834 | 33 | Wholly in this county |
| East Lake-Orient Park | CDP | 29,213 | None recorded | Wholly in this county |
| Citrus Park | CDP | 28,804 | None recorded | Wholly in this county |
| Palm River-Clair Mel | CDP | 27,844 | None recorded | Wholly in this county |
| Temple Terrace | city | 27,275 | 30 | Wholly in this county |
| Lutz | CDP | 27,106 | 77 | Wholly in this county |
| Fish Hawk | CDP | 26,186 | None recorded | Wholly in this county |
| Keystone | CDP | 25,858 | None recorded | Wholly in this county |
| Northdale | CDP | 25,710 | None recorded | Wholly in this county |
| Westchase | CDP | 24,885 | 3 | Wholly in this county |
| Bloomingdale | CDP | 23,827 | None recorded | Wholly in this county |
| Gibsonton | CDP | 18,754 | 22 | Wholly in this county |
| Thonotosassa | CDP | 15,764 | 17 | Wholly in this county |
| Wimauma | CDP | 15,266 | 18 | Wholly in this county |
| Cheval | CDP | 13,969 | None recorded | Wholly in this county |
| Mango | CDP | 13,242 | None recorded | Wholly in this county |
| Progress Village | CDP | 10,450 | None recorded | Wholly in this county |
| Pebble Creek | CDP | 10,447 | None recorded | Wholly in this county |
| Seffner | CDP | 8,885 | 20 | Wholly in this county |
| Balm | CDP | 7,181 | None recorded | Wholly in this county |
| Dover | CDP | 3,009 | 12 | Wholly in this county |
A further 79 of the county's 2,093 SBA 7(a) approvals are to borrowers in cities that match no Census place in Hillsborough County, the largest being Lithia (35), Odessa (23), Parrish (2). Those are postal cities, unincorporated areas and cities outside the county, so no place row claims them; they are counted in the county total above.
Nearby