Huntington Beach, CA Economic Overview
Huntington Beach is a seaside city in Orange County, in Southern California. The city was named after the American businessman Henry E. Huntington. Is the most populous beach city in Orange County and seventh-most populous city in the Los Angeles Metropolitan Area, home to over 201,000 residents. Sometimes referred to as “Surf City", the seaside city is known for its long 10-mile stretch of sandy beach, mild climate, excellent surfing, and beach culture. The California lifestyle is very much synonymous with Huntington Beach, embodying the spirit of freedom and fun in the sun. The Surf City was listed among Expedia’s “Top 55 Most Breathtaking Beautiful Destinations in the World" in 2016, and 4th in the 2017 Financial Times’ “116 Cities Nationwide in ‘Best Financial Shape’." Also receiving the title of “Best City to Live in Orange County," from the Orange County Register readers, the Huntington Beach commercial real estate scene is uniquely placed in a charming community, with ideal weather, a diversified economy, a wide variety of housing, an excellent education system, a sea side recreational culture, and top-graded health care. Huntington Beach is also home to numerous national events such as the U.S. Open of Surfing which attracts 500,000 visitors annually, and the Surf City USA Marathon, with over 16,000 runners.
The Huntington Beach business community is diversified, with no single dominating industry or business, and it includes higher education, automobile services, aerospace, technology, manufacturing, tourism, retail, and business services. Home to over 650 industrial businesses, including Boeing, Quicksilver, Cambro Manufacturing, and C & D Aerospace, Huntington Beach boasts a diversified and dynamic economy. Boeing and its Boeing Campus was originally constructed in Huntington Beach to service the Apollo Program. The second largest employer in Huntington Beach is the clothing manufacturer Quicksilver, which has its world-wide corporate headquarters located here. Additionally, with its miles of uninterrupted, pristine beaches along the West Coast, Huntington Beach plays host to an annual visitor population of more than 11 million people. Beyond the beach, the City boasts world renowned restaurants, shopping, hotels, resorts, spas, and a thriving downtown district. The City is centrally located, in relation to all major attractions in Orange County, including Disney Resorts in Anaheim and Sea World and San Diego Zoo in San Diego. Below Huntington Beach lies a natural salt dome containing oil, most of which is largely depleted. Extraction continues at a slow rate with two off-shore extraction facilities left in operation. Huntington Beach has numerous economic indicators working in its favor. The City boasts an annual median household income of just over $84,900, higher than the median household income for the U.S., State of California, and Orange County. The City also possesses a stable property tax base, and an AAA underlying credit rating from Fitch Ratings.
Huntington Beach, CA Commercial Real Estate Market
With 10 miles of uninterrupted beaches, Huntington Beach blends surfing’s relaxed spirit with a contemporary style, creating an ocean side destination like none other on the coast. Huntington Beach is a superb location for not only retail, restaurant and hospitality development, but also for manufacturing and R&D firms seeking to expand in or relocate here. The City has its sights on attracting and retaining innovative firms and recently welcomed Newlight Technologies, a highly innovative organization that converts greenhouse gases into high-performance cost-effective thermoplastics. Other recent developments include Pacific City in the Downtown area, complete with hotel, retail and residential space totaling over 200,000 square feet, as well as a Waterfront Hilton Tower Expansion.
The Huntington Beach office market has seen a recent decrease in rental rates and, compared to the rest of the Metropolitan Los Angeles market, has less expensive rates. The commercial market in Huntington Beach is one of the most undervalued in Orange County. The standard measurement for office space in this area is approximately 1,990 square feet, with most buildings rising two stories. Arts, entertainment, and restaurants are the dominant industries in this market.
Downtown Huntington Beach serves as the heart of Surf City. The Downtown Huntington Beach office market is placed among historic Main Street, charming Fifth Street, and newly minted Pacific City. Downtown Huntington Beach is like no other, with its iconic Huntington Beach Pier, eminently walkable, bike-able, and surf-able. The vibrant area also draws and caters to all visitors with rentals, lessons, and an unwavering love for waves.
Beach Boulevard links the sand to the freeway. Dotting “Route 39" are some of Huntington Beach’s best eats and the city’s most iconic historic structures. The Huntington Beach Boulevard office corridor includes executive office space in a prestigious location at the heart of Huntington Beach. The area offers panoramic mountain and ocean views, providing a pleasant working environment all year round. There are excellent local transport links and amenities nearby, including several top end restaurants, which offer great opportunities for informal meetings and relaxed work breaks.
Huntington Beach, CA Office Rental Rates ($/SF/year)
Data provided by Yardi Matrix, for properties larger than 50K SF.
Huntington Beach, CA Office Sales
Data provided by Yardi Matrix, for properties larger than 50K SF, which sold at over $5M.
Huntington Beach, CA Commercial Inventory Breakdown
Total: 2,000,907 SF
By square footage range:
- 50k to 100k SF: 823,187 SF / 41.14% of total office
- 100k to 500k SF: 1,177,720 SF / 58.86% of total office
- Class A: 1,056,131 SF / 52.78% of total office
- Class B: 944,776 SF / 47.22% of total office
Total: 4,125,634 SF
By square footage range:
- 50k to 100k SF: 91,200 SF / 2.21% of total industrial
- 100k to 500k SF: 3,447,265 SF / 83.56% of total industrial
- 500k to 1M SF: 587,169 SF / 14.23% of total industrial
- Class A: 3,246,734 SF / 78.7% of total industrial
- Class B: 878,900 SF / 21.3% of total industrial
Employment in Huntington Beach, CA
Over 107,000 people are employed by public and private entities in Huntington Beach. With an unemployment rate of 3.9%, well below national and state levels, the City’s labor force is well positioned to perform strongly in the future.
According to the Bureau of Labor Statistics, the industries in the Santa Ana-Anaheim-Irvine, CA area with the highest employment numbers include:
- Professional and Business Services—currently employs 300,900, growing at 2.8%/year;
- Trade, Transport, and Utilities—currently employs 258,500, growing at 0.4%/year;
- Leisure and Hospitality – currently employs 218,600, growing at 1.5%/year.
Education in Huntington Beach, CA
Huntington Beach is in the Huntington Beach Union High School District, which operates Edison High School, Huntington Beach High School, Marina High School, and Ocean View High School in the city of Huntington Beach, Fountain Valley High School in the city of Fountain Valley, and Westminster High School in the city of Westminster. The district also has an alternative school, Valley Vista High School, and an independent study school, Coast High School. Huntington Beach is also home to The Pegasus School, a nationally recognized blue-ribbon institution.
Further educational opportunities are offered in close proximity at Golden West College, Orange Coast College, the University of California, Irvine, and California State Universities at Long Beach and Fullerton. Golden West and Coastline community colleges are located within the city limits.
Commuting Time in Huntington Beach, CA
The City of Huntington Beach has 1,121 lane miles of public streets and has easy freeway access to Los Angeles International Airport, John Wayne Orange County Airport, and Long Beach Airport. The city also offers bus service and rail freight service. The ports of Long Beach and Los Angeles are located less than 20 miles away from the city and provide shipping and travel services.
Employees in Huntington Beach have a longer average commute time of 26.5 minutes than the national average of 24.8 minutes. The largest share of workers drive alone, followed by those who carpool and work at home.
Huntington Beach Demographics
- Total Population200,415
- Male Population(50.0 %) 100,128
- Female Population(50.0 %) 100,287
- Median Age41.90
- Average Household Income$115,884
- Median Household Income$88,079
- Median Income Under 25$47,212
- Median Income 25-44$92,265
- Median Income 45-64$104,031
- Median Income Over 65$64,019
Residential Rents in Huntington Beach, CA
The average rent for an apartment in Huntington Beach is $1,828/month, a 3% increase compared to the previous year, when the average rent was $1,769/month. The most affordable neighborhoods in Huntington Beach are Huntington Harbour, where the average rent goes for $1,675/month, Bolsa Chica - Heil, where renters pay $1,806/month on average, and Bolsa Bay, where the average rent goes for $1,818/month. The most expensive neighborhoods in Huntington Beach are Downtown Huntington Beach, Seacliff, and Yorktown ($1,949/month).
Huntington Beach, CA Average Rental Price, September 2019
- $ 2,007/mo
- Studio: $ 1,707
- 1 Bedroom: $ 1,830
- 2 Bedrooms: $ 2,158
Huntington Beach, CA Rent Trends
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