Downtown Long Beach
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Market Info

 
Overview

Downtown is a point of convergence for people from a variety of backgrounds and incomes and who are there for different reasons. Long time residents of Downtown tend to be moderate income, yet new housing options have brought an infusion of middle and upper income residents. The jobs located in Downtown vary across industries and pay scales. On top of that, millions of visitors from across the region and county come to Long Beach for special events like the Grand Prix and hundreds of other events each year. This demographic diversity is a unique strength for Downtown Long Beach because it means that Downtown businesses are supported by multiple user groups.

Residents

  • 2011 Downtown Population: 30,000
  • Downtown Population Growth (2000 – 2011): 8%
  • Downtown Housing Units: 13,800
  • 78% of Residents Rent and 22% Own their units
  • Since 2002, 2,192 new housing units have been delivered in the Downtown, most of which attract buyers with annual incomes exceeding $75,000.
  • Of the 2,192 new residential units built since 2002, there is a 50 / 50 split between rental units and for-sale housing
  • 2011 Average Household Income for Downtown Residents: $52,268
  • Median Age of Downtown Residents: 30.4 years
  • Number of Households:  12,485
  • Rental Unit Occupancy: 94%
  • Age Distribution:

Under 18: 24%

19-24: 9%

25-34: 20%

35-44: 16%

45-54: 15%

55-64:  8%

65+: 8%

  • More than 5% of Long Beach's population live in Downtown
  • More than 58% have some college education or higher
  • Rental rates are as low as $2.06 to $2.80 per square foot
  • For-sale residential sells on average between $210– $351 per square foot (2011)


Employment

Downtown has one of the highest employment density in Long Beach. It also provides a large share of job opportunities for the residents of nearby cities.

•More than 37,000 people are employed in Downtown Long Beach. This figure represents more than twenty-two percent of all available jobs in the City of Long Beach
• Due to the proximity to the Long Beach Port, Transportation and Warehousing Industry represents the highest percentage of jobs at 26%
•More than 24% of the people employed in Downtown are from the city of Long Beach, and nearby cities such as Los Angeles, Lakewood, Carson, Bellflower, and Torrance account for additional 24% of the employed in Downtown.
•More than 50% of the employed in Downtown travel less than 10 miles from their homes and more than 78% travel less than 24 miles from their homes
•The majority of Downtown employees (64%) are between the ages of 30 and 54. They next largest age group is comprised of those who are 29 years old or younger (21%)
•Male workers in Downtown are represented higher than female workers at 56% versus females at 44%
•More than half of Downtown employees have some college experience, while approximately 25% have at least a bachelor’s degree


Visitors / Conventioneers

6.1 million people per year visit Downtown Long Beach for conventions, attractions, festivals, and events.

In 2012, approximately 1.61 million people attended conventions at the Long Beach Convention Center & Entertainment Center.

There are 3,255 hotel rooms in Downtown Long Beach and the occupancy rate from March 2011 to March 2012 was 73% Estimated total room nights in Downtown hotels in 2012 were 848,860.

Mid-level and upscale hotels account for 89% of all of Downtown’s hotel inventory.
Pine Avenue is the home to many of the signature events that occur in Downtown Long Beach and attract audiences that range from 1,000 – 10,000.


Other Interesting Statistics and Facts

According to Bicycling.com, Downtown Long Beach is rated top 20 most bike-friendly cities in the United States.

Downtown Long Beach is home to some of Southern California’s most distinctive architecture and is consistently used as the backdrop for both movie and television filming.

Downtown Long Beach is considered a dining and entertainment Mecca for the South Bay, as 162 bars, restaurants, and cafes complement a myriad of entertainment uses such as the Laugh Factory, the Aquarium of the Pacific, and Rainbow Harbor.

Downtown Long Beach is geographically centered between two of the Country’s top 10 retail markets (Los Angeles and Orange County).

Downtown Long Beach is served by multiple forms of public transit, including fixed rail transit that connects directly to Downtown Los Angeles.

Downtown Long Beach is not only one of the few Downtowns in California that are located alongside the Oceanfront, but also one of only a handful in America.

Along the exterior wall of the drum-shaped Long Beach Arena in Downtown is “Planet Ocean”, one of environmental artist Wyland’s Whaling Walls which was dedicated on July 9, 1992. At 116,000 square feet, it is the world’s largest mural (according to the Guinness Book of Records). The mural depicts migratory gray whales and other aquatic life that can be found in the waters off Long Beach.

In large part, Downtown Long Beach is the hidden gem of Southern California. It is only a matter of time until the rest of America discovers what so many Long Beach natives hold dear: a genuine, diverse community that rests its laurels on hard work and a commitment to ensuring a wonderful quality of life for all its residents.


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