Anaheim, CA Economic Overview
Part of the Los Angeles metropolitan area and located in beautiful Orange County, Anaheim has all that Los Angeles has to offer, minus many of the headaches of the big city. With a population of just over 336,000, it is home to several multi-purpose convention centers, two professional sports teams and Disneyland, all of which draw in millions of tourists each year, making Anaheim’s commercial real estate market a great place to invest!
Anaheim’s economy revolves around its tourism industry. With Disneyland in town, which contributes over $4 billion to the economy of Southern California, and the Anaheim Convention Center, which hosts numerous national and international conferences each year, Anaheim brings in a majority of its income from visitors. Moreover, several corporations have offices in the area, including AT&T, Kaiser Foundation, General Dynamics and Panasonic.
Anaheim, CA Commercial Real Estate Market
Anaheim’s manufacturing and commercial space is expansive, spread through the Anaheim Canyon District , the Anaheim Resort District the Platinum Triangle District. Each has its own attractive qualities for businesses looking to move into the area. With costs on a par (or slightly less) with real estate prices in Los Angeles proper, Anaheim can be the place to set up and grow a business.
Canyon District commercial space spreads over four square miles of land and is home to several industrial factories and office buildings. Moreover, the district is seeing plans for more residential buildings, shopping centers and green space. Opportunities abound for starting a business, whether you need an office building or a factory or are looking for a place to open a business that serves those working in the area.
The Anaheim Resort District encompasses Disneyland and the Anaheim Convention Center. As with the Canyon District, commercial space here is excellent, with the most recent addition being a Great Wolf Lodge hotel and water park, completed in 2016. More commercial space is rising around the resort.
Platinum Triangle District is largely under construction. Once sprawling commercial and industrial area, it is now being redeveloped into more Anaheim office space with retail, as well as residential real-estate. This allows the area to become more populated and offers more opportunities for business and investment in Anaheim.
Anaheim, CA Office Rental Rates ($/SF/year)
Data provided by Yardi Matrix, for properties larger than 50K SF.
Anaheim, CA Office Sales
Data provided by Yardi Matrix, for properties larger than 50K SF, which sold at over $5M.
Anaheim, CA Commercial Inventory Breakdown
Total: 7,304,203 SF
By square footage range:
- 50k to 100k SF: 2,058,694 SF / 28.19% of total office
- 100k to 500k SF: 4,740,509 SF / 64.9% of total office
- 500k to 1M SF: 505,000 SF / 6.91% of total office
- Class A: 2,310,816 SF / 31.64% of total office
- Class B: 4,410,357 SF / 60.38% of total office
- Class C: 78,030 SF / 1.07% of total office
Total: 19,821,791 SF
By square footage range:
- 50k to 100k SF: 767,068 SF / 3.87% of total industrial
- 100k to 500k SF: 17,340,948 SF / 87.48% of total industrial
- 500k to 1M SF: 1,713,775 SF / 8.65% of total industrial
- Class A: 8,219,091 SF / 41.46% of total industrial
- Class B: 11,602,700 SF / 58.54% of total industrial
Employment in Anaheim, CA
By far the largest employer in Anaheim is the Disneyland Resort. With over 22,000 employees, it far exceeds Anaheim’s second-largest employment industry, medical care and research. Kaiser Permanente employs roughly 9,000 people, between its corporate offices and the Kaiser Permanente Anaheim Medical Center. Other top Anaheim employers include the Anaheim Regional Medical Center and West Anaheim Medical Center.
Education in Anaheim, CA
Anaheim has seven public school districts, with over 84 public schools. Notable private schools include Acaciawood Preparatory Academy, Fairmont Preparatory Academy, and Servite High School.
Higher education is also represented, by private universities such as Anaheim University, the Southern California Institute of Technology and Bristol University. The only public higher learning representative is the North Orange County Community College.
Commuting Time in Anaheim, CA
Anaheim’s transportation infrastructure fares better than Los Angeles’. A number of major roads cross the city and some major highways and freeways run through the city limits, connecting the Santa Ana Freeway, the Orange Freeway and the Riverside Freeway. Two major railroads also serve the area.
Within the city itself, Anaheim provides several public transport options. The largest and best funded is the Orange County Transportation Authority (OCTA), the bus system that serves both the city and the surrounding area. The OCTA has also teamed up with the L.A. Metro bus system to set up routes between Anaheim and the Los Angeles metropolitan area. Closer to Disneyland and the Convention Center, Anaheim and Disney Corp. have teamed up to provide public shuttles.
- Total Population349,007
- Male Population(49.6 %) 173,136
- Female Population(50.4 %) 175,871
- Median Age34.00
- Average Household Income$85,960
- Median Household Income$65,313
- Median Income Under 25$47,346
- Median Income 25-44$65,555
- Median Income 45-64$76,047
- Median Income Over 65$47,572
Residential Rents in Anaheim, CA
When choosing the best place for a business, location research is very important – not only for the office, but also for the employees’ convenience.
Along with the growing standard of living, the cost of rent in Anaheim has increased on average 2.8%. Commercial leases have become pricier in areas where land is a bit harder to come by, such as the Resort District. But in the Platinum Triangle district, leases have become more attractive to business owners and investors.
Apartment and home rents have risen steadily as well, though at a lower rate than in other U.S. cities. For single and double bedroom homes, rent has risen roughly 3.5%, in an economic environment where, on average, monthly rents start at roughly $1,900.
Anaheim, CA Average Rental Price, April 2019
- $ 1,732/mo
- Studio: $ 1,510
- 1 Bedroom: $ 1,552
- 2 Bedrooms: $ 1,895
Anaheim, CA Rent Trends
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