If you are young, motivated, and with an entrepreneurial spirit, living in San Mateo County, there are no shortages of great places to start your venture. However, while there are many good places for young entrepreneurs in San Mateo County, some are better than others. In this article, brought to you by one of the best movers San Francisco has to offer, we will be taking a look at some of the top places for young professionals looking to start their business. We’ve narrowed the list to seven places, all of which have something unique to offer.
Top 7 places for young entrepreneurs in San Mateo County
It was difficult to choose only seven places in San Mateo County, as the whole area is rife with opportunities. The places that made the list are:
- Foster City
- San Carlos
- Redwood City
- Menlo Park
Each one of these places offers something unique, whether it is great living conditions or simply a great atmosphere. But before you hire any of the movers San Mateo County has on offer, you will want to narrow your choice down.
We will present you with pertinent information to make that choice easier. Starting with:
Starting with a well-known San Francisco suburb, Burlingame has a lot to offer for an aspiring entrepreneur. While it “only” has around 31,000 people to its name, the area is extremely well-established and wealthy. The median household income is easily double the national average, standing at around $128,500. Needless to say, this alone makes Burlingame quite desirable for a business location.
However, you are going to pay a premium for office space. With the median rent going around $2,500, and the median property value easily reaching $2,000,000, finding affordable real estate can be quite tricky. But if you can manage the steep prices, there is a lot of potential for a successful business.
Another San Francisco suburb, Foster City is quite similar to Burlingame. It has a slightly higher population, around 34,000, and property values are somewhat lower. The interesting thing is that the median property price is around $1,300,000 but the median rent is almost $3,500.
The area has an even higher income potential than Burlingame, with the median household income being almost $160,000! Foster City is well-known as one of the, if not the, best areas to live in San Mateo County. And wherever people like to congregate is good for business. While the entry price is kind of high, especially if you are renting your office space, the possibilities are quite high as well.
San Carlos is one of the best places for young entrepreneurs in San Mateo County
Yet another suburb of San Franciso (we are spotting a pattern here), San Carlos has plenty to offer for a budding business. As you may already expect, both the median income and real estate prices are very high, standing at around $1,650,000 and $2,400 respectively. But the median income is even higher than in Foster city!
The average household nets around $182,000 a year! This is extremely high, almost tripling the national average. That means that the buying power and the need for convenient services and products are in great balance. And this is something that almost any savvy business can take advantage of.
However, you can expect operating costs to be quite high. San Carlos has some of the steepest living costs in the entire San Mateo County. It stands to reason, of course, but it is a factor that can heavily influence your business. You will do well to research the running costs before you make any choices.
Another…you already know. Hillsborough made its way to our list of top places due to its enormous median household income. If you thought that San Carlos, with its triple-the-national-average income, was rich, wait until you see what Hillsborough has to say! The median household in Hillsborough earns a Quarter of a million each year! We had to capitalize that.
As you might expect, the real estate prices are quite high in the area, averaging around $2,000,000. The median rent is also quite oppressive, at about $3,500. It is not cheap to start a business in Hillsborough but it can be extremely lucrative. If you can satisfy some of the needs that its 11,500 residents have, you will be catapulting your business into a success. The competition is harsh, true, but there are opportunities to exploit.
The first place that is not a suburb of San Francisco, Redwood City is a large town with around 86,000 residents. It has a healthy mix of urban and suburban, as well as a great economy. The median household income is around $117,150, nothing to scoff at. The moving companies Redwood City offers are top-notch, as they have a lot of experience relocating people to this popular area. If you are relocating from anywhere in California, you would do well to check some of them out.
If you are looking to start a business away from the harsh competition that San Francisco offers, Redwood City might just be the place. There are always new buildings being constructed, with more office space, which clearly indicates the need for businesses to fill them.
One of the top places for young entrepreneurs in San Mateo County – Belmont
And, we are back in the San Francisco suburbs again. Belmont is one of the most famous areas in San Fran, largely thanks to Belmont University. The university is one of the main employers in the area, and it drives much of Belmont’s economy. Which is outstanding, to say the least.
Belmont’s households earn a median income of about $156,000, which puts the area right next to other high-income suburbs. You are also looking at a median rent of around $2,400, and a median property value of $1,550,000. Even so, many movers Belmont CA has on offer are working non-stop. People are relocating to and from the area on a daily basis, which means there is always an influx of new clients for your business. And that is good news for any aspiring business venture!
Last, but definitely not least, on our list of top places for young entrepreneurs in San Mateo County is Menlo Park. A suburb yet again, but of San Jose this time. It easily rivals most San Francisco suburbs, with a median household income of about $161,000. The rent is around $2,400, and the median property value is about $2,000,000. Pretty standard, as far as the places on our list go. The only slight issue of Menlo Park is its crime rate, which can be somewhat higher in some of its neighborhoods. But that is nothing that you can’t solve by carefully choosing your place of business!