Commerce, CA Economic Overview
Commerce, also known as “City of Commerce," is located in southeast Los Angeles County and occupies roughly 6.540 square miles. Over 60,000 people work in what is dubbed “The Model City", for the above average amenities the location provides. One such amenity is its 44.2 acres of parks, which include recreational facilities like a fitness center, tennis/racquetball courts and an aquatic center. The Commerce, CA commercial real estate market is among the most attractive in the country.
Roughly 60% of Commerce, CA real estate is devoted to industries like manufacturing, retail, transportation, and administrative and governmental public facilities. There is no gross receipt or property taxes in Commerce, which is in keeping with its pro-business stance. While Commerce does not have Foreign Trade Zone status, like some of its neighbors, it does have pro-business incentives like Industrial Development Bonds (IDB).
Commerce invests about $61 million annually to maintain and improve its public infrastructure, in an effort to preserve the quality of life of its residents and workers.
Commerce, CA Commercial Real Estate Market
The local commercial real estate market serves retail, commercial entertainment, public facilities and public transportation, and, to a greater extent, industrial manufacturing. In fact, a lot of the properties here are mixed-use.
2410 Yates Avenue is among the largest commercial properties in this market–at 900,000 square feet, the property’s tenants include AT&T, Gibson Overseas Inc., and Westworks Credit Union. Commerce Casino is about 91,694 square feet of Commerce office space and includes the full-service, 200-room Crowne Plaza Hotel which has its own dining facilities, retail establishments, and entertainment venues. Notable retail properties include Citadel Outlets, part of a commercial development that encompasses a hotel and four office buildings.
Commerce, CA Office Rental Rates ($/SF/year)
Data provided by Yardi Matrix, for properties larger than 50K SF.
Commerce, CA Office Sales
Data provided by Yardi Matrix, for properties larger than 50K SF, which sold at over $5M.
Commerce, CA Commercial Inventory Breakdown
Total: 1,673,868 SF
By square footage range:
- 50k to 100k SF: 707,730 SF / 42.28% of total office
- 100k to 500k SF: 966,138 SF / 57.72% of total office
- Class A: 93,873 SF / 5.61% of total office
- Class B: 1,145,371 SF / 68.43% of total office
- Class C: 434,624 SF / 25.97% of total office
Total: 26,221,991 SF
By square footage range:
- 50k to 100k SF: 663,186 SF / 2.53% of total industrial
- 100k to 500k SF: 20,573,829 SF / 78.46% of total industrial
- 500k to 1M SF: 4,984,976 SF / 19.01% of total industrial
- Class A: 4,156,061 SF / 15.85% of total industrial
- Class B: 17,833,892 SF / 68.01% of total industrial
- Class C: 4,232,038 SF / 16.14% of total industrial
Employment in Commerce, CA
The biggest employer in Commerce is the Commerce Casino. It is the world’s largest cardroom, with over 240 tables. The casino employs over 2,000 people and accounts for roughly 38% of the city’s tax revenues and almost $22 million a year in licensing fees.
Commerce itself is the next largest employer, followed by Computer Science Engineering, Community/Social Services, Legal Services, and Art, Sports, and Entertainment. The median household income in Commerce, CA is almost $50,000.
Education in Commerce, CA
Commerce is part of the Montebello Unified School, with two elementary schools that serve Commerce: Bandini Elementary School located in the city and Suva Elementary School in nearby Bell Gardens.
Bell Gardens is also home to the intermediate schools that serve Commerce.
Three high schools serve Commerce: Bell Gardens High School in Bell Gardens, Montebello High School, and Schurr High School in Montebello.
Commuting Time in Commerce, CA
Commerce, CA residents expect a longer commute, of 27 minutes, which is above the national average of 24.8 minutes. Super-commutes of 90+ minutes are experienced by 2.85% of the Commerce workforce. Roughly 2.61% of the population uses public transit.
Commerce has free public transit, which is completely paid for by tax revenue–this includes bus routes and commuter shuttles. In addition, L.A.’s Metrolink has a stop in Commerce.
- Total Population12,998
- Male Population(49.9 %) 6,492
- Female Population(50.1 %) 6,506
- Median Age34.70
- Average Household Income$54,733
- Median Household Income$42,734
- Median Income Under 25$37,847
- Median Income 25-44$49,500
- Median Income 45-64$53,600
- Median Income Over 65$26,417
Residential Rents in Commerce, 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.
Commerce, CA has almost 3,500 housing units, to serve 13,000 residents. Most of these are rented (52.1%). With a rental vacancy rate of less than 2%, finding a place can be rather difficult. A one-bedroom apartment in Commerce, CA goes for $1,075 per month, while a two-bedroom can go for an average of $1302 per month.
The cost of living in Commerce, CA is 8% lower than the state average, but 25% higher than the national average.
Commerce, CA Average Rental Price, September 2019
- $ 1,591/mo
- Studio: $ 1,007
- 1 Bedroom: $ 1,357
- 2 Bedrooms: $ 1,708
Commerce, CA Rent Trends
COMMERCIALCafé is your first and only stop when it comes to commercial real estate leasings in Commerce, CA. Search through our extensive selection of commercial properties for lease with current space availability in the area ranging between 1000 square feet and 72174 square feet. Discover the right property from our 148 listings by using our advanced search function, which includes search by property type, space availability, management company, lease rates, and more.