XXXXX
2 O 2 2
OUTLOOK & INSIGHTS
DowntownLA.com/DTLA2022
2 O 2 2
ABOUT THE DCBID Founded in 1998, the Downtown Center Business Improvement District (DCBID) has been a catalyst in the transformation of Downtown Los Angeles (DTLA) into a vibrant 24/7 destination. A coalition of more than 2,000 property owners in the Downtown Center, the DCBID members are united in their commitment to enhance the quality of life in Downtown LA. The mission of the Economic Development team is to improve and revitalize the District and bring investment and new businesses to the area. We provide services to current and prospective residents, workers, and businesses, including: •
Development Consulting
•
Research and Information Requests
•
Events and Marketing
•
Housing and Office Tours
•
Customized Tours and Reports
Whether you need information on development, opening a business location, or you just want to learn more about Downtown’s market sectors and dynamics, we are the portal for information about the District and DTLA. To learn more, visit www.DowntownLA.com.
DEFINITION OF DOWNTOWN LA The DCBID defines Downtown Los Angeles as the area bounded by the 110, 101 and 10 freeways and the LA River, plus Chinatown, City West, and Exposition Park. Because these do not precisely align with census tracts, some of the data in this report includes areas just outside these boundaries.
2
Downtown Center Business Improvement District
2 O 2 2
TABLE OF CONTENTS 4
METHODOLOGY AND SOURCES
5
EXECUTIVE SUMMARY
6
THE ‘CITY’ OF LOS ANGELES
8
DTLA THROUGH COVID
I0
DTLA 2022 SURVEY
I2
A PLACE TO LIVE
I4
A PLACE TO WORK
I8
A PLACE TO VISIT, SHOP, AND DINE
Downtown Center Business Improvement District
3
2 O 2 2
METHODOLOGY AND SOURCES DTLA 2022 Outlook & Insights Report incorporates a wide variety of sources including official government data, geolocation data, and our own survey products. Three of our partners have been critical to producing this report. RENEGAGE MARKETING The DTLA 2022 Survey was conducted in partnership with Renegage Marketing from February 7-11, 2022. 230 respondents completed a 5–10-minute online interview. The margin of error associated with this sample size is approximately 6% with a 95% confidence interval. Renegage Marketing also helped produce the DTLA Recovery Compass and is one of the partners on the nationwide Back to Normal Barometer, referenced in this report. INTERNATIONAL DOWNTOWN ASSOCIATION The IDA report on the Value of Downtown LA was completed in late 2021. IDA curated an extensive set of official government data for Downtown, the City of Los Angeles (City), and the LA/Long Beach/ Anaheim Census Metropolitan Area (Region). For data from US Census Bureau, we have used the most recent available, which is for 2019. Chief among these are census-tract level breakdowns from the US Census Bureau’s American Community Survey (ACS), 2010 Decennial Census, and Longitudinal Employer Household Database (LEHD), and many more. PLACER.AI Placer.ai generates insights about consumer behaviors and preferences using geolocation data from mobile app usage. This technology and placebased approach allows them to produce daily data for visitors, residents, and workers that can be accessed almost immediately. That data is paired with census data at the most granular geographic areas available to provide detailed demographic data on each group. Placer also incorporates a range of other sources such as Experian Mosaic, a consumer lifestyle segmentation tool referenced in this report. Unless otherwise stated, all Placer.ai data in this report is based the period of January 1, 2021 to December 31, 2021. 4
Downtown Center Business Improvement District
2 O 2 2
EXECUTIVE SUMMARY Emerging from the COVID-19 pandemic presents a unique moment of challenge and opportunity for urban centers like Downtown Los Angeles. In response, the Downtown Center BID produced the DTLA 2022: Outlook & Insights report to focus on our city center’s current state and its position in the region, nation, and world – and to understand what that all means for its future. Building on the DCBID’s signature biennial Survey of Downtown Residents, Workers, and Visitors, this report adds both broader economic context and more granular data analysis in presenting a comprehensive picture of DTLA as a place, a community, and a market, as well as its importance to the greater City of Los Angeles and the Southern California region. Downtown Los Angeles is the primary hub of commercial activity for Los Angeles, and the most significant job center in the region. It is also a diverse collection of thriving urban neighborhoods, and a popular destination with national and global recognition. The intersection of all these elements in this one place creates the dynamic energy that has fueled DTLA’s growth and the unique identity that will shape its future.
also twice as likely to take public transportation and 5 times more likely to walk to work!
We then look at the impact of the pandemic and the ongoing economic recovery. Although COVID affected communities across the region and globe, city centers like DTLA were uniquely impacted by stay-at-home orders. With workers and visitors remaining in their residential communities, trips to Downtown and patronage of local businesses dropped dramatically. However, our market “DTLA is the primary trend reports indicate that retail hub of commercial rates and occupancy have held their ground, and visitation and hospitality activity for Los are making steady comebacks.
Angeles, and the most significant job center in the region. It is also a diverse collection of thriving urban neighborhoods, and a popular destination with national and global recognition. The intersection of all these elements ... has fueled DTLA’s growth and the unique identity that will shape its future.”
In this report, we look at Downtown in three primary contexts. In order to fully appreciate its size, scope, and significance, we start with its relationship to the City of Los Angeles. DTLA comprises only 1.4% of the land area of Los Angeles but provides 19% of the city’s jobs and 35-40% of its hotel, sales, and business tax revenues. The cost of living is substantially lower, with the combined cost of housing and transportation taking a 14% smaller share of Downtowners’ paychecks than for residents in other parts of the city. And those who work in DTLA have significantly more eco-friendly commuting patterns with 32% fewer driving alone to work. They are
Finally, we consider DTLA as a place unto itself by looking at the people who live, work, and visit here. Our residents are significantly younger and more ethnically diverse than either the city or region. More than 2/3rds say they plan to live in DTLA for 3 years or more. Downtown employment has significantly diversified as well, with workers in the “knowledge” (professional, scientific, technical services, and information) industries having greatly expanded their numbers. More than 93% of workers say they plan to be back in the office in some capacity. And DTLA visitors, attracted by a retail density 10x that of the rest of the city, reflect a consumer base that is drawn to the cultural connections and experience of DTLA.
The DCBID published its DTLA 2020 Survey at the height of the pandemic with an editorial entitled: “A Once and Future Portrait of DTLA” that captured a unique moment in time and profiled a Downtown community that was “passionate, knowledgeable, committed to their neighborhood, and optimistic about its future.” As we release DTLA 2022, we are proud to report that that community carried us through the last two years and are poised to lead our resurgence. Downtown Center Business Improvement District
5
2 O 2 2
THE ‘CITY’ OF LOS ANGELES Representing just 1.4% of the total land area of the City of Los Angeles, Downtown LA plays an outsized role in the city’s economy. With a density and diversity unique to the region, but a location at its geographic center, DTLA is a hub for all Angelenos. While it has long served as the city’s principal commercial business district, the Downtown Renaissance of the past 20 years has transformed it into a vibrant residential community, global center for arts & culture, and a regional destination for sports & entertainment, retail, restaurants and nightlife. It is the amalgam of these qualities that define DTLA as the ‘City’ of Los Angeles.
1.4%
DTLA Share of the City of Los Angeles Land Area Despite representing a tiny percentage of the land area in the City of Los Angeles, DTLA plays a significant role in every sector of the local economy. CITY OF LOS ANGELES
6
Downtown Center Business Improvement District
2 O 2 2
THE ‘CITY’ OF LOS ANGELES GENERAL DOWNTOWN
DTLA % OF CITY
6.7
1.4%
Office square feet
40,000,000
47%
Retail square feet
4,300,000
17%
8,000
18%
42,364
3%
84%
12%
Hotel Tax
$138M
40%
Sales Tax
$246M
44%
Business Tax
$212M
36%
Land Area (sq. mi.)
Hotel rooms Residential Units Residential Inventory growth 2000 - 2019
84%
Residential Inventory Growth DTLA leads the way in addressing the housing crisis by delivering 12% of the new housing units in the City since 2000.
TAX IMPACT
EMPLOYMENT 89,752
15%
315,955
19%
15,386
35%
DOWNTOWN
CITY
Residents per Square Mile
11,619
8,459
Employees per square mile
47,299
3,490
743
75
Share of city knowledge industry jobs Jobs Share of city creative jobs
19%
of Citywide Jobs Talent, world-class amenities and unparalleled access to transit draw employers to DTLA.
DENSITY
Retail businesses per square mile
Sources: U.S. Decennial Census (2000, 2010); American Community Survey 5-Year Estimates (2015 – 2019); LEHD On the Map (2018); City of Los Angeles, Office of Finance (2019); LA County Assessor’s office (2019)
743
Retail Businesses Per Square Mile The density of storefronts in DTLA is a key part of its appeal to both shoppers and retailers.
*Data is from 2019 to represent a typical pre-COVID year. The taxes shown here do not include property tax, which also makes up a signifi cant portion of the city’s total taxes.
Downtown Center Business Improvement District
7
2 O 2 2
DTLA THROUGH COVID Although COVID affected communities across the region and globe, Downtown LA, like other major urban centers, was uniquely impacted by stay-at-home orders and other public health restrictions. As people remained in their residential communities, trips to DTLA dropped dramatically. However, despite the rise of the Delta and Omicron variants, 2021 saw a substantial recovery in visitation to DTLA. The real estate market followed similar trends, with the residential sector coming back stronger than ever; hospitality regaining much of its losses; and the office and retail sectors showing signs of recovery as cases drop, mandates ease, and return-to-work plans proceed.
TOTALMonthly VISITS PER VISITORS TotalMONTH Visits to -DTLA 12,000,000 10,000,000 8,000,000 6,000,000 4,000,000 2,000,000
400,000
12/1/21
16
12
250,000
10
200,000
8
150,000
6
100,000
4
50,000
2
Q4 2019
Q1 2020
Q2 2020
Q3 2020
Daily Average Number of Workers
Q4 2020
Q1 2021
Q2 2021
Q3 2021
Q4 2021
Avg. Visits Per Worker Per Month
14
300,000 Daily Average Number of Workers
11/1/21
9/1/21
18
350,000
0
10/1/21
8/1/21
7/1/21
6/1/21
5/1/21
4/1/21
3/1/21
2/1/21
DTLA Average Workplace Visits WORKPLACE VISITS - WORKERS
1/1/21
12/1/20
11/1/20
10/1/20
9/1/20
8/1/20
7/1/20
6/1/20
5/1/20
4/1/20
3/1/20
2/1/20
1/1/20
12/1/19
11/1/19
9/1/19
10/1/19
8/1/19
7/1/19
6/1/19
5/1/19
4/1/19
3/1/19
2/1/19
1/1/19
0
0
Average Workplace Vi sits Per Worker Per Month Source: Placer.ai
8
Downtown Center Business Improvement District
2 O 2 2
DTLA THROUGH COVID Q4 2021
$2,800
96%
$2,700
94%
$2,6 00
92% 90%
$2,500
88%
$2,400
86%
$2,300
84%
$2,200
82% Q1 2020
Q2 2020
Q3 2020
Q4 2020
Asking Rent Per Unit
OFFICE
Q1 2021
Q2 2021
Q3 2021
Occupancy
Q4 2021
25%
$3.75
20%
10%
$3.60 $3.55
5%
$3.50
0%
Q2 2020
Q3 2020
Q4 2020
Asking Rent Per Square Foot
RETAIL
Q1 2021
Q2 2021
Q3 2021
Vacancy
Q4 2021
7%
Rent Rent
$3.05
6%
$3.00
5%
$2.95
4%
Q1 2020
Q2 2020
Q3 2020
Q4 2020
Average Rent Per Square Foot
HOTEL $180 $160 $140 $120 $100 $80 $60 $40 $20 $0
Q4 2019
Q1 2021
Q2 2021
Q3 2021
Vacancy
Q4 2021
3%
Q2 2020
Q3 2020
Q4 2020
YTD RevPar
$3.70 6%
Vacancy
$3.01
Rent Per Square Foot
Source: CoStar
Q4 2021
Hotel
Q1 2020
Vacancy
Q4 2021 8%
Q4 2019
20% Rent Per Square Foot
Retail
$3.10
$2.90
$2,759
Source: CBRE
Vacancy
Rent Rent
15%
$3.65
Q1 2020
Occupancy
Q4 2021
Office
$3.80
Q4 2019
94% Asking Rent Per Unit
Source: CoStar
$3.70
YTD YTD RevPar RevPar
80%
Vacancy Vacancy
Q4 2019
Vacancy
$2,100
Occupancy Occupancy
Residential
Q1 2021 Occupancy
Q2 2021
Q3 2021
Q4 2021
90% 80% 70% 60% 50% 40% 30% 20% 10% 0%
Source: LA Tourism & Convention Board
Occupancy Occupancy
Rent Rent
RESIDENTIAL
54% Occupancy
$96 RevPAR
Downtown Center Business Improvement District
9
2 O 2 2
DTLA 2022 SURVEY The DCBID has been conducting surveys of Downtown residents, workers, and visitors for over 15 years. Our primary effort has been a biennial survey of thousands of respondents addressing a wide range of subjects. During the pandemic, we initiated the DTLA Recovery Compass Tracking Study – a wave survey conducted in several phases over nearly a year to gauge changes in stakeholder sentiment as public health conditions evolved. For our DTLA 2022 Survey, we chose to narrow the scope of the Recovery Compass to topics that address specific concerns of the moment through the perspective of two of our core constituencies – residents and office workers. While respondents expressed some understandably mixed sentiments, one common response captured the enduring spirit of many Downtowners.
“I am optimistic about the future of DTLA” DTLA 2022 Survey 65% Recovery Compass: 07/2021 61% Recovery Compass: 10/2020 58%
RESIDENTS Early in the pandemic, there were fears across the country about the future of downtowns and predictions of a residential exodus from places like DTLA. With the temporary closure of so many amenities that are at the core of the urban experience, these concerns were understandable. Fortunately, while our survey results indicate that 54% of residents thought about leaving DTLA at some point during the pandemic, today only 9% think they will leave within a year. Most actually plan to stay much longer – with 65% expecting to live here for at least three years and one in four looking at living in DTLA for 10 years or more. Our surveys over the last decade have shown our residents to be passionate about living Downtown and being part of the DTLA community. Those sentiments held this year, despite the pandemic, showing Downtowners to be a particularly committed and resilient group.
65% expect to live in DTLA for at least 3 more years
“I love DTLA”
“I am part of the DTLA community”
Less than one year ������������������������ 9%
DTLA 2022 ����������������������������������� 79%
DTLA 2022 ����������������������������������� 71%
DTLA 2020 ���������������������������������� 85%
DTLA 2020 ���������������������������������� 70%
DTLA 2015 ���������������������������������� 83%
DTLA 2015 ���������������������������������� 74%
1 to 2 years ��������������������������������� 26% 3 to 10 years ������������������������������� 40% 10 or more years ������������������������ 25%
OFFICE WORKERS Although the return-to-work status of most office workers remains in flux, our survey results suggest that the situation will begin to settle over the coming months as the large majority of workplace plans are implemented. While those plans are likely to evolve over time, 93% of respondents said they expect to be back in the office in some capacity. 40% say back to workplace plans have already been implemented, and 39% say they will be implemented by the end of June. 10
Downtown Center Business Improvement District
Back to Workplace Plans 100% in office ���������������������������� 15% Majority in office ����������������������� 20% Equal in office/at home ������������� 22% Minority in office ����������������������� 32% 100% work from home ���������������� 7%
2 O 2 2
DTLA 2022 SURVEY PRIORITIES Despite all that has happened since the start of the pandemic, what has not changed is that the top priority for improvement identified by our survey respondents is providing more services to address homelessness, followed by improved cleanliness and streetscapes.
Priorities (highest=5, lowest=1) 1. More services to address homelessness ���������������������������������������������������������������������������������������������������� 4.0 out of 5 2. Increase cleanliness and improve streetscapes ������������������������������������������������������������������������������������������ 3.6 out of 5 3. Increase police visibility through added foot, bicycle, and mounted patrols �������������������������������������������� 2.8 out of 5 4. Improve transportation including traffic, transit, & shared mobility ����������������������������������������������������������� 2.6 out of 5 5. Provide services to support those adversely impacted by the COVID-19 pandemic ��������������������������������� 1.9 out of 5
ENGAGEMENT Throughout the pandemic, the DCBID has tracked willingness to engage in various activities through its DTLA Recovery Compass tracking survey. We have consistently found that sentiment is strongly responsive to current conditions vis a vis infection rates and mitigation measures. The same correlation was seen in a nationwide tracking survey, the Back to Normal Barometer. Although case numbers were much higher in November, there was less concern than in July due to differences in vaccination rates and the perceived threats posed by the Delta and Omicron variants, respectively. For the DTLA 2022 Survey, while the Omicron variant had started to ease, many restrictions remained in place, including widespread masking. For Downtown, the continued absence of most office workers remained a critical factor. Unsurprisingly, we found an undeniable dampening of enthusiasm in willingness to engage in various activities. These sentiments mirror similar findings from last year in the Back to Normal Barometer, such as in November 2021 when 46% of their respondents nationwide said they were dining out less often than they used to. As mask mandates are expected to lift in the coming month, based on our prior experience, we expect sentiments to improve significantly in the near term.
DTLA Recovery Compass (LA) Willing to Shop/Dine Out December 2020
July 2021
Pre-vaccine
54% vaccinated
Strong mitigation
Minimal mitigation
40-50%
77-80%
Back to Normal Barometer (Nation)* Willing to Fly/Stay at Hotel July 2021
November 2021
50% vaccinated
60% vaccinated
Mitigation returning
Mitigation easing
38-47%
83-88%
DTLA 2022 Survey (LA) Shopping/Dining Out Dining out less often
Visiting retailers less often
65%
81% *Source: sportsandleisureresearch.com
Downtown Center Business Improvement District
11
2 O 2 2
A PLACE TO LIVE DTLA residents are significantly younger and more ethnically diverse than either the city or region and have a slightly higher rate of postsecondary education. Although the residential population has grown by 37% overall from 2010 to 2019, that growth has been concentrated in certain census tracts, primarily in South Park, the Historic Core, and the Arts District, where new residential development has been most heavily concentrated. Unsurprisingly, these census tracts all now boast median household incomes well above the rest of Downtown or the city as a whole. RESIDENTS
37%
Residential Population Growth from 2010 to 2019
DOWNTOWN
CITY
REGION
Population
77,616
3,966,936
13,249,614
Per Square Mile
11,619
8,459
2,733
Growth 2015-2019
21%
2%
1%
Growth 2010-2019
37%
5%
4%
Hispanic or Latino
32%
48%
45%
Asian and Pacific Islander
26%
12%
16%
White Alone
22%
28%
30%
Black or African American
16%
9%
6%
Two or More Races
3%
2%
2%
Native American or Other
1%
1%
0%
8%
21%
22%
18 to 24
10%
10%
10%
25 to 34
28%
18%
16%
35 to 49
25%
21%
20%
50 to 64
16%
17%
19%
65+
13%
12%
14%
High school or less
39%
42%
39%
Some college or Associate
22%
24%
26%
Bachelor's degree
25%
23%
22%
Graduate or higher
13%
12%
12%
RACE
53%
Residents between the Ages of 25 and 49
60%
Residents with Postsecondary Education
AGE <18
EDUCATIONAL ATTAINMENT
Source: U.S. Decennial Census (2000, 2010); American Community Survey 5-Year Estimates (2015 – 2019)
12
Downtown Center Business Improvement District
2 O 2 2
A PLACE TO LIVE HOUSEHOLD INCOME DOWNTOWN
CITY
REGION
< $15K
30%
12%
10%
$15K - $40K
20%
22%
19%
$40K - $75K
14%
23%
23%
$75K - $100K
8%
11%
12%
28%
31%
37%
POPULATION (2019)
GROWTH (2010-19)
MEDIAN HHI (2019)
> $100K
28%
Residents with Household Income Greater Than $100K
Source: American Community Survey 5-Year Estimates (2015 – 2019)
SELECTED CENSUS TRACTS Tract from maps below 41
2077.10
4,667
177%
$100,972
52
2079
7,162
128%
$92,104
3
2074
1,539
104%
$87,000
4
2063
6,103
2%
$9,191
25
2060.31
4,131
79%
$99,205
$86,300 Average Resident Household Income
Source: American Community Survey 5-Year Estimates (2015 – 2019)
MEDIAN HHI (2019)
POPULATION GROWTH (2010-19) n < 0% n 0-20% n 20-40% n 40-60%
n < $25K n $25-40K n $40-65K n >$65K n Skid Row
n 60-80% n 80-100% n >100%
3
3
1
1 4 2
4 5
2
5
Downtown Center Business Improvement District
13
2 O 2 2
A PLACE TO LIVE DTLA is the “first choice” for Angelenos who want an active urban lifestyle. As such, Downtowners are much more likely to use alternative modes of transportation and tend to work much closer to where they live. Because the DTLA housing market is predominantly rental and its demographics skew towards young and single, it is also more transitory than the rest of the region. At the same time, it attracts a significant share of long-term residents, as demonstrated by our survey. RENT VS. OWN
37%
Combined cost of Housing + Transportation vs 54% Citywide
RENT
OWN
92%
8%
$1,567/month
$610,669
137%
43%
DOWNTOWN
CITY
REGION
37%
54%
59%
2%
1%
1%
Transit
21%
10%
5%
Carpool
7%
9%
10%
Walk
18%
4%
3%
Other
2%
2%
1%
51%
74%
80%
DOWNTOWN
CITY
Avg Bike Score
78
59
Avg Transit Score
98
53
Avg Walk Score
93
68
Share of Population Median Rent/Price Rent/Price Increase 2010-19 Source: American Community Survey 5-Year Estimates (2015 – 2019)
COST OF LIVING Percentage of Income:
Housing + Transportation Source: Center for Neighborhood Technology (2017)
41%
Residents Walk, Bike, or Take Transit to Work
COMMUTING PATTERNS Bikes
Drive alone
Source: American Community Survey 5-Year Estimates (2015 – 2019)
93%
Downtown Average Walkability Score
WALK, BIKE, AND TRANSIT SCORES
Source: Walk Score (2021)
14
Downtown Center Business Improvement District
2 O 2 2
A PLACE TO LIVE RESIDENT WORK LOCATIONS
5 mile Radius
# of Visits High
Low
Source: Placer.ai
DTLA 2022 SURVEY: RESIDENTS Top 3 retail categories desired (1) Supermarkets ��������������������������������������������������������������������������������������������������������������� 80% (2) Clothing/Apparel ���������������������������������������������������������������������������������������������������������� 48% (3) Books/Music ����������������������������������������������������������������������������������������������������������������� 31%
Top 3 most requested new retailers (1) (2) (3) Trader Joe’s ��������������������������������������������������������������������������������������������������������������������� 15.3%
62%
Residents Travel Less Than 5 Miles to Their Workplace
Nordstrom ����������������������������������������������������������������������������������������������������������������������� 15.4% Bed, Bath & Beyond �������������������������������������������������������������������������������������������������������� 20.9% Source: Placer.ai
Downtown Center Business Improvement District
15
2 O 2 2
A PLACE TO WORK Downtown LA is the largest employment cluster in the region. Despite its reputation as a home for “traditional” office tenants, the area has seen significant growth in the “knowledge” industry, including professional, scientific, and technical services and Information. These non-traditional DTLA office tenants are drawn to the area by a range of factors including its central location in the region and superior access to talent and transit, as well as arts, culture and other amenities. JOBS BY INDUSTRY
21%
Growth of DTLA “Knowledge Industry” Jobs from 2010 to 2019
47,299
Downtown Employees per Square Mile
2019
CHANGE SINCE 2010
105,714
30%
Professional, Scientific, and Technical Services
34,769
24%
Accommodation and Food Services
23,838
74%
Health Care and Social Assistance
21,579
70%
Wholesale Trade
19,940
-6%
Finance and Insurance
17,961
-9%
Utilities
16,536
22%
Arts, Entertainment, and Recreation
15,816
17%
Admin/Support/Waste Mgmt.
14,080
72%
9,727
-20%
92,531
21%
DOWNTOWN
CITY
REGION
334,667
1,854,464
6,375,672
47,299
3,490
1,168
Public Administration
Retail Trade Knowledge Industries*
TOTAL EMPLOYMENT 2018
All Jobs Employees per square mile
*Knowledge industries: Professional, Scientific, Technical, Finance, Insurance, Real Estate, Information, Health Care, and Social Assistance Source: LEHD On The Map (2019)
$85,000 Worker Average Household Income
Share of Households
HOUSEHOLD INCOME
Source: Placer.ai
16
Downtown Center Business Improvement District
2 O 2 2
A PLACE TO WORK RACE/ ETHNICITY DOWNTOWN
CITY
REGION
White Alone
64%
70%
72%
Black or African American
13%
10%
8%
Asian Alone
19%
15%
16%
4%
4%
4%
37%
38%
39%
Age 29 or younger
17%
21%
21%
Age 30 to 54
59%
56%
55%
Age 55 or older
24%
24%
24%
Less than high school
13%
15%
15%
High school or equivalent
16%
16%
16%
Some college or Associate
26%
23%
23%
Bachelor's or higher
29%
25%
24%
Others Hispanic or Latino
59%
Workers Aged 30-54
AGE
EDUCATIONAL ATTAINMENT
55%
Workers with Postsecondary Education
Source: LEHD On The Map (2019)
EMPLOYEE HOME LOCATIONS
50%
# of Visits
of DTLA Workers Commute Less Than 7 Miles from Their Home
7 mile Radius
High
Low Source: Placer.ai
Downtown Center Business Improvement District
17
2 O 2 2
A PLACE TO VISIT, SHOP, AND DINE Total visitation to Downtown is returning to pre-pandemic levels and will continue to grow as restrictions are lifted and business and convention travel returns. DTLA visitors are a diverse group that includes everyone from international tourists to locals coming for a night on the town or to serve on jury duty. Downtown is one of the region’s premier “day trip” destinations due to its concentration and variety of attractions and amenities. For those coming from outside of the region, Downtown is both an attraction unto itself and an ideal home-base from which to explore the rest of Los Angeles. RETAIL VITALITY
157
Food & Beverage Businesses per Square Mile
DOWNTOWN
CITY
4,966
35,061
743
75
1,048
10,914
157
23
Total retail businesses Retail businesses per square mile Food and beverage businesses Food & beverage businesses per square mile
Source: ESRI Business Analyst Marketplace Data (2017); ESRI Business Analyst Business Total Data (2019)
DTLA RESIDENTS FAVORITE RETAIL PLACES
DTLA VISITORS & WORKERS FAVORITE PLACES
Top 5 Destinations
Top Destinations in LA (Rank)
VISITED IN 2021
(1) FIGat7th
45,852
Crypto.com Arena (2)
1.5m
(2) Whole Foods Market
29,430
Grand Central Market (7)
1.7m
(3) Grand Central Market
21,772
FIGat7th (8)
1.6m
(4) Little Tokyo Galleria
21,090
Cathedral of Our Lady of The Angels (9)
1.5m
(5) Ralphs
21,082
ROW DTLA (13)
700K
Source: Placer.ai
18
VISITED IN 2021
Downtown Center Business Improvement District
Source: Placer.ai
2 O 2 2
A PLACE TO VISIT, SHOP, AND DINE
15 million
$5 billion
Visitors in 2021
Annual Retail and F&B Sales Source: Placer.ai
Source: ESRI Business Analyst Marketplace Data (2017)
DTLA TOP CONSUMER SEGMENTS Based on: Mosaic USA Consumer Lifestyle Segmentation by Experian RESIDENTS
WORKERS
VISITORS
Young City Solos �����������������������������������38%
Cultural Connection ������������������������������22%
Cultural Connection ������������������������������19%
Singles & Starters ���������������������������������25%
Family Union �����������������������������������������16%
Family Union �����������������������������������������18%
Thrifty Habits �����������������������������������������11%
Significant Singles ���������������������������������12%
Significant Singles ���������������������������������10%
Power Elite ����������������������������������������������9%
Singles & Starters ���������������������������������10%
Singles & Starters �����������������������������������9%
Golden Year Guardians ����������������������������8%
Flourishing Families ���������������������������������8%
Young City Solos ��������������������������������������8%
Young City Solos
% OF US POPULATION
HOUSEHOLD INCOME $50K+
MARRIED
KIDS
UNIVERSITY DEGREE
1.70%
74%
14%
12%
56%
“These young professionals report above average incomes topping $50,000 a year, and they seem to be thoroughly enjoying their unattached status.” Family Union
7.73%
67%
92%
84%
15%
“Tend to live in multi-ethnic and multi-lingual neighborhoods, some speaking Spanish in shops and cafes, driving used American compact cars and minivans, and filling their homes with food and decorations that remind them of their roots.” Singles & Starters
6.98%
41%
32%
46%
20%
“These self-described workaholics share a desire to move up in status and they realize that every career journey starts with a first step.” Cultural Connection
3.91%
31%
43%
77%
10%
“Despite their limited budgets, these households enjoy shopping and like to experiment with styles, and they like stores that offer lots of brands.” Significant Singles
3.24%
51%
34%
29%
25%
“Reflect the recent trend of Americans staying single longer. Most enjoy an active singles scene with plenty of nightlife, progressive values and robust leisure lives.” Source: Placer.ai and Experian Mosaic USA Handbook (2019)
Downtown Center Business Improvement District
19
2 O 2 2
Downtown Los Angeles is the primary hub of commercial activity for Los Angeles. It is the most significant job center in the region, a diverse collection of thriving urban neighborhoods, and a popular destination with national and global recognition.
A PLACE TO WORK
A PLACE TO VISIT, SHOP, & DINE
15 million
350,000+ JOBS $86,200 Average Household Income
in 2021
59%
VISITORS
$5 billion in Sales in 2019
30 - 54 Years Old
743
55% Postsecondary Education
157
93%
21%
Food/Beverage Businesses per Square Mile
Expect to Return to Office
Job Growth in “Knowledge Industries”
Retail Businesses per Square Mile
93
Walkscore
A PLACE TO LIVE
84% Residential Inventory Growth 2000 - 2019
80,000+ RESIDENTS
32% Less
Income Spent on Housing + Transportation than LA Average
$86,300
Average Household Income
53%
25 - 49 Years Old
79% love DTLA
37% Population Growth 2010 - 2019
60%
Postsecondary Education
94%
Residential Occupancy
41%
Walk, Bike, or Take Transit to Work
65% expect to live in DTLA for at least 3 more years
DowntownLA.com/DTLA2022