Shoppers wait in line to enter Louis Vuitton store while business reopening on Rodeo Dr. in Beverly Hills.

Shoppers wait in line to enter Louis Vuitton store while business reopening on Rodeo Dr. in Beverly Hills. Photo by Ringo Chiu.

The Business Journal’s annual snapshot of L.A.’s key economic data provides a broad overview during these uncertain times, from demographic details and population statistics to land values and income information.

In a previously unimaginable turn of events, the Los Angeles economy has tumbled from record highs to pandemic-driven lows in less than a year.

Even in the darkest of days, however, the city’s business community is showing signs of resilience. Retailers and restaurants are adapting to lockdowns and reopenings and reclosings with curbside service, expanded takeout and plenty of innovation.

Elsewhere, development continues to move forward, including at the long-awaited SoFi Stadium in Inglewood, on massive infrastructure improvements for Metro and Los Angeles International, and with residential and office projects from Culver City to DTLA.

The Business Journal’s annual snapshot of L.A.’s key economic data provides a broad overview during these unpredictable times, from demographic details and population statistics to land values and income information.

Los Angeles County Population Data

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Population Estimates: Fastest Growing Cities in L.A. County (2019-2020). Source: California Department of Finance.

Los Angeles Demographics Data

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Los Angeles Demographics by Gender, Age and Ethnicity (figures in percent as of July 2019). Source: U.S. Census Bureau.

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Los Angeles Demographics by Education, Marital Status and Language (figures in percent as of July 2019). Source: U.S. Census Bureau.

Housing and Real Estate Data

South El Monte was Los Angeles' fastest growing city in 2019 with a 2% increase. San Fernando ranked second with a 1.9% gain.

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A 67,000-square-foot industrial property in South El Monte sold for $7.2 million.

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Monster Energy Co. bought a 27,000-square-foot warehouse in San Fernando for $33.7 million.

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Los Angeles Business Journal

CBS sold its storied Television City at 7800 Beverly Blvd. in Fairfax District to Hackman Capital Partners for $750 million.

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Los Angeles Business Journal

Maybourne Hotel Group snapped up the 208-room Montage Beverly Hills hotel from Ohana Real Estate Investors for $415 million.

Spotlight on Hollywood

Hollywood has long drawn people to its promise of fame and fortune, and that lure proved strong in 2019. The area was home to huge real estate deals, including the $325 million sale of the Hollywood & Highland Center. The market also saw its star rise as a prime place for dreamers to lay their heads as developers raced to build luxury high-rises. In addition, Hollywood renewed its claim on the film industry, with streaming giant Netflix expanding its footprint there. While the Covid-19 pandemic has taken its toll on the nightlife, tourism and hospitality industries, Hollywood’s star figures to shine again as the economy reopens.

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Divco West entered a joint venture for 1600 Vine in Hollywood that valued the site at $112 million.

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Los Angeles Business Journal

Hollywood & Highland center at 6801 Hollywood Blvd. in Hollywood sold for $325 million.

Compensation and Employment Data

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L.A. County Household Income Data. Source: U.S. Census Bureau.

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Los Angeles Average Daily Commuting Data (figures in percent as of July 2019) and Average Travel Time to Work (in minutes).

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L.A. County Unemployment Rate (seasonally adjusted, as of May 2020). Source: California Employment Development Department.

For the full L.A. by the Numbers Special Report data, see the July 13, 2020, print edition.

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