Commercial Real Estate Market in Hillsborough, NC
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
86 active listings and 434 off-market properties in Hillsborough, NC.
Market Trends
Hillsborough, NC spans 103.7 square miles in Orange County, North Carolina. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Hillsborough, NC runs 20.2% across the South region in 2025, up from 14.4% in 2019.
Vacancy Rate % in South region
Retail
Retail vacancy in Hillsborough, NC runs 5.4% across the South region in 2025, down from 7% in 2020.
Vacancy Rate % in South region
Industrial
Industrial vacancy in Hillsborough, NC runs 7.9% across the South region in 2025, up from 6% in 2019. Nearly 2.3x the 2022 low of 3.5%.
Vacancy Rate % in South region
Multifamily
Multifamily vacancy in Hillsborough, NC runs 11.3% across the South region in 2025, up from 8.5% in 2022.
Vacancy Rate % in South region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 62.5%
- Industrial 15.4%
- Commercial 13.6%
- Civic 8.2%
- Mixed use 0.3%
Largest Zones share of zoned land by district
Residential
Agricultural Residential
Residential
Entranceway Special Use
Office Institutional
Hillsborough, NC zones 5,242 acres across 24 districts. Commercial zoning covers 13.6% of zoned land, residential 62.5% and industrial 15.4%. The largest single district is Residential at 19.8%. For commercial buyers the practical constraint is that only 29% of land carries a commercial or industrial designation.
Residential (R20)
The purpose of these R20 districts is to provide locations for moderate intensity residential neighborhoods that include opportunities for development of supporting recreational, community service, and educational uses proximate to neighborhoods, these districts are created to encourage development of neighborhoods comprised chiefly of single family detached…
Market overview
Demographics & Economy
Hillsborough, NC has 28,846 residents in 12,328 households. Density runs 278 people per square mile. Median household income here is $101,821 and median gross rent $1,294 a month.
28,846
Population
12,328
Households
2.3
Avg Household Size
43
Median Age
54%
College-Educated
91%
High-School Grad
103.7 sq mi
ZIP Area
278
Density / Sq Mi
$101,821
Median Household Income
$51,380
Median Earnings
$1,294
Median Rent
$380,000
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Efland | — | — |
| Chapel Hill | — | — |
| Mebane | — | — |
| Cedar Grove | — | — |
Commercial property in Hillsborough, NC asks $1,747/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Hillsborough?
Commercial property in Hillsborough, NC asks an average of $1,747 per square foot. The 8 most recent recorded sales traded at a median of $257/SF, so asking sits 580% above the achieved median.
What zoning applies to commercial property in Hillsborough?
Hillsborough, NC zones 5,242 acres across 24 districts, of which 13.6% is commercial and 15.4% industrial. The largest single district is Residential at 19.8% of zoned land. The purpose of these R20 districts is to provide locations for moderate intensity residential neighborhoods that include opportunities for development of supporting recreational, community service, and educational uses proximate to neighborhoods, these districts are created to encourage development of neighborhoods comprised chiefly of single family detached… Residential zoning covers 62.5% and open space 0%.
Where does Realmo's Hillsborough market data come from?
Realmo compiles Hillsborough, NC figures from 8 recent recorded sales, 85 active sale listings, 1 active lease listings, 434 tracked off-market properties, the current Hillsborough zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 85 active for-sale and 1 active for-lease listings in Hillsborough, NC. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 5,242 zoned acres across 24 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 August 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at South region level, retail vacancy is reported at South region level, industrial vacancy is reported at South region level and asking prices run materially above recent closed pricing.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 31 August 2026 · report a data issue
