Commercial Real Estate Market in Hillsborough, NJ
Updated monthly: sale, lease, property records, location trend, and more… · Last update: September 30
61 active listings and 352 off-market properties in Hillsborough, NJ. Commercial property asks $337/SF to buy and $20.91/SF/Yr to lease.
Market Trends
Hillsborough, NJ spans 55.2 square miles in Monmouth County, New Jersey. Figures below refresh monthly; last updated 30 September 2026.
Office
Office space in Hillsborough, NJ asks $269/SF to buy. Vacancy runs 19.9% across the Northeast region in 2025, up from 13.1% in 2019.
Average Sale Price $/SF
Listings
Vacancy Rate % in Northeast region
Retail
Retail space in Hillsborough, NJ asks $322/SF to buy. Vacancy runs 6% across the Northeast region in 2025, little changed from 6% in 2019. Down from a 2020 peak of 7.1%.
Average Sale Price $/SF
Listings
Vacancy Rate % in Northeast region
Industrial
Industrial vacancy in Hillsborough, NJ runs 7.6% across the Northeast region in 2025, up from 5.4% in 2019. Nearly 2.4x the 2021 low of 3.2%.
Vacancy Rate % in Northeast region
Multifamily
Multifamily space in Hillsborough, NJ asks $385/SF to buy. Vacancy runs 5.6% across the Northeast region in 2025, up from 4% in 2022.
Average Sale Price $/SF
Listings
Vacancy Rate % in Northeast region
Market overview
Demographics & Economy
Hillsborough, NJ has 43,333 residents in 16,168 households. Density runs 786 people per square mile. Median household income here is $153,785 and median gross rent $2,171 a month.
43,333
Population
16,168
Households
2.7
Avg Household Size
42
Median Age
62%
College-Educated
96%
High-School Grad
55.2 sq mi
ZIP Area
786
Density / Sq Mi
$153,785
Median Household Income
$74,977
Median Earnings
$2,171
Median Rent
$537,300
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Raritan | — | — |
| Somerville | — | $14.87 |
| Branchburg | — | — |
| Manville | — | — |
Commercial property in Hillsborough, NJ asks $337/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Hillsborough?
Commercial property in Hillsborough, NJ asks an average of $337 per square foot. The 5 most recent recorded sales traded at a median of $247/SF, so asking sits 36% above the achieved median. Multifamily carries the highest asking price at $385/SF.
How much does it cost to lease commercial space in Hillsborough?
Asking lease rates in Hillsborough, NJ average $20.91 per square foot per year.
Where does Realmo's Hillsborough market data come from?
Realmo compiles Hillsborough, NJ figures from 6 recent recorded sales, 38 active sale listings, 23 active lease listings, 352 tracked off-market properties. Sale and lease figures refresh monthly; vacancy annually. Last updated 30 September 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 38 active for-sale and 23 active for-lease listings in Hillsborough, NJ. 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.
- Price per square foot
- The county-level $/SF blends closed sales aggregated over the trailing months of available data, not a single day's snapshot — it can differ from any one month's own median.
- 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.
- Refresh
- The monthly aggregates close at the end of the previous month, so 30 September 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at Northeast region level, retail vacancy is reported at Northeast region level and industrial vacancy is reported at Northeast region level.
- 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 30 September 2026 · How Realmo checks market page data · Report a data issue
