Los Angeles County contains 88 incorporated cities

California is the third state to pass statewide rent control laws.

A report from rentcafe.com recently listed the 50 most expensive zip codes in the US, six of which are in Los Angeles County. The most expensive in LA is 90024, Westwood, where rental units average $4,944 a month.

In LA County, approximately 58% of low-income households pay more than 30% of their monthly income on rent.

Los Angeles and TechniSoil are currently working together on a project that turns recycled plastic bags and bottles into pavement for roads. The new method, set to pilot on First Street at Grand Ave downtown, is expected to reduce production costs by 25%, in addition to reduced emissions and time. The plastic-infused roads will be faster to construct and more durable than standard materials.

Per lacounty.gov, if Los Angeles County were a nation, it would have the 19th largest economy in the world. Over 244,000 businesses are located there.

Over 40% of inbound containerized freight is brought in through Los Angeles County. It is home to one of the two largest sea ports in the Western hemisphere, with trade values in excess of $400 billion.

The entertainment and creative economy in Los Angeles County employs over 400,000 people, and generates over $38.8 billion in total income.

USC, UCLA, and Caltech all have campuses in Los Angeles.

As of Q3 2019, funding for startups hit $825 billion.

The 50 wealthiest people in Los Angeles have a cumulative $221 billion estimated. As of September 2019, Elon Musk topped the list.

A brief introduction

LA’s real estate market may be one of the most iconic and dynamic in the US, but that can make it pretty tough to grasp. Luckily Durkin has been in your shoes from way back as a ranching center to now as a major metropolis. From its earliest days as a hangout for cattle ranchers like Edward Doheny (ol’ Standard Oil Eddy) to its potential future as the next Silicon Valley, LA’s growth is predicted to be amazing.

The history of

Los Angeles is the second largest city in America. Its earliest settlers each received a rancho, parcels of Spanish land grants, which they used primarily for activities like grazing and agriculture. As population growth accelerated in the region, Los Angeles brought a surge of miners, entrepreneurs and businesses to the region when silver was discovered in the San Gabriel Mountains in 1848. The development of the railroad system in 1878 and completion of the first transcontinental railroad in 1883 further accelerated settlement of Los Angeles. As this boom continued, residential real estate became more abundant and affordable.

It’s hard to imagine Los Angeles without its iconic neighborhoods, from Silverlake to Hollywood Hills mansions. During this era, many of the major businesses today opened their doors in LA. Toward the mid-20th century, commercial real estate became even more big business. From downtown LA high-rises to office parks in the San Fernando Valley, diverse businesses helped make L.A. a global destination during this time by shaping the real estate market.

The present

Los Angeles is a major economic driver in the United States and one of the largest cities. The real estate market is a significant part of this, with historically extraordinarily high prices. Many neighborhoods in the city center, such as Beverly Hills and Pacific Palisades, have some of the most expensive real estate deals in the country.

Nevertheless, the city’s diversity and dynamism have resulted in a wide range of housing choices, ranging from affordable to luxury, old to new. A wide range of mid-range houses are available, from cozy North Hollywood condos to bright Craftsman bungalows just south of downtown. In spite of the rise in modern office and industrial spaces, the entertainment industry continues to drive the commercial real estate market.

In the future

Though the Los Angeles real estate market will likely remain both diverse and vibrant, there is expected to be some slowing down in higher-end properties following the recent economic downturn. The region has remained a desirable destination for both individuals and businesses. Economic growth is predicted to continue over the coming years, which speaks to the commercial real estate market’s continued progression as well. Businesses are still looking towards the area to locate their offices or expand their operations. This bodes well for your real estate portfolio, so don’t wait too long before investing!

A relatively healthy residential market is also expected. Increased demand for affordable housing is counterbalanced by higher-end purchasers. Overall, the Los Angeles real estate market appears to remain an attractive option for buyers and investors seeking the best of what the city has to offer.

In conclusion

The Los Angeles real estate market has changed and evolved over the years, from its humble beginnings as a series of ranchos to its current status as one of the world’s most dynamic, diverse, and expensive cities. The current landscape is characterized by a wide range diversity of options, from historic homes to state-of-the-art facilities, from celebrity residences to affordable condos. In addition, the economic outlook in the region is strong with growth expected in both residential and commercial sectors. This makes Los Angeles an attractive option for individuals and businesses alike and all points to an exciting future for the city and its real estate market.