Downtown Long Beach Market Study

Between 1990 and 2008, downtown Long Beach has increased greatly in population and has outpaced the county in general and Los Angeles County. The downtown area grew by 32-percent during this time and this was primarily due to the increase in new housing units as well as a slight increase in household sizes. The average age of downtown Long Beach residents is between ages 25 and 44. Single-person homes are the most prevalent households in the area and this includes homes with no young children or homes with adults whose children moved out of the home.

A majority of residents in this location work in retail and manufacturing. Other downtown residents work in the healthcare and education sector while other residents work for the City. One factor in the rise of manufacturing jobs downtown is the port activity. More people are working in healthcare due to the increase in new healthcare companies, and California State University at Long Beach employs many people in the education sector.

Most local residents don’t drive to their destination because they can easily walk, ride a bike or use public transportation to get around. Fifty-five percent of downtown residents drive to work compared to 75-percent of the rest of the city. A majority of residents who live downtown earn an income of between $50,000 to $100, 000 especially those who recently moved into the newer housing units.

Some main benefits of the downtown area include waterfront access, the historic architecture, high chances of steady employment, the young and vibrant population and diverse activities to get involved in. Downtown is also becoming more eco-friendly and this is seen with the support of new bike-friendly zones and the ability to walk to most places.

Jobs in the downtown area are expected to grow significantly and the main areas for future job growth include the professional, healthcare and technology sectors. In addition to this, there are many retail establishments and restaurants which cater to the professionals in downtown Long Beach. More business owners are considering a move downtown because it’s becoming too expensive to start and maintain businesses in other parts of Los Angeles County.

Overall, the downtown section of Long Beach has been successful in bringing new industries and businesses to the area. Housing is also a strong indicator of local revitalization as younger people move to this area. The hotel market is also booming and this is because of constant activity at the local Convention Center.