La Mirada, CA Economic Overview
Located in Southeast Los Angeles County, La Mirada lies between the City of Los Angeles, Orange County, and the Pacific Ocean. With just under 50,000 residents La Mirada has one of the highest household incomes in the area and is home to a diverse number of industries attracted by the city's location, business-friendly attitude, low taxes and fees, and low project development costs. La Mirada's closeness to major airports, interstate freeways and commuter and freight rail service make the city easily accessible to all areas of the Los Angeles-Long Beach-Anaheim MSA and keeps commercial real estate in La Mirada in demand.
With a median household income of over $79,000 a year and an average household income of over $91,000, both residents and business are attracted to the economic growth in La Mirada, its transportation access, well-educated workforce, and the overall outstanding quality of living for both residents and business.
La Mirada has been recognized as One of The Best Places to Live in America by CNN's Money Magazine, has been called the Most Business Friendly City by the L.A. County Economic Development Corporation, and has been ranked three years in a row by the Kosmont-Rose Institute as one of Southern California's least expensive places to do business.
La Mirada, CA Commercial Real Estate Market
The growth of the La Mirada office market is driven by its great location between Los Angeles and Orange County, and its well-defined areas of residential, commercial, and industrial development. The City understands the importance of promoting an economy characterized by ample and diversified goods and services, job growth, and a strong tax base for city services and community development.
Commercial development in La Mirada is focused on 12 development districts along the Imperial Highway Corridor, the I-5 Santa Ana Freeway, and Rosecrans Avenue, with the City partnering with developers, property owners and key commercial tenants to redevelop several existing centers. Some of the main development districts in La Mirada include the Crossroads Shopping Center District, Green Hills Plaza Northwest & Southeast, the Home Depot Shopping Center District, the Imperial Plaza District, and the Valley View Square Center.
The industrial inventory in La Mirada is nearly 18 million square feet. Add to that over 766,000 square feet of office inventory and nearly 3.8 million square feet of retail space.
As part of the Los Angeles South Bay submarket, the City is taking a pro-active approach to redevelopment and is partnering with real estate investors and business owners to rejuvenate properties, and in the process, bringing increased economic activity and jobs to the City. La Mirada offers low taxes and fees, expedited development review, low development costs, and no municipal-levied tax for property or utility use.
La Mirada, CA Office Sales Volume
Data provided by Yardi Matrix, for properties larger than 50K SF, which sold at over $5M.
La Mirada, CA Office Transactions
Data provided by Yardi Matrix, for properties larger than 50K SF, which sold at over $5M.
La Mirada, CA Commercial Inventory Breakdown
Office Spaces
Total: 375,515 SF
By square footage range:
- 50k to 100k SF: 240,246 SF / 63.98% of total office
- 100k to 500k SF: 135,269 SF / 36.02% of total office
By class:
- Class B: 375,515 SF / 100% of total office
Industrial
Total: 11,158,162 SF
By square footage range:
- 50k to 100k SF: 2,535,483 SF / 22.72% of total industrial
- 100k to 500k SF: 8,622,679 SF / 77.28% of total industrial
By class:
- Class A: 4,900,378 SF / 43.92% of total industrial
- Class B: 6,257,784 SF / 56.08% of total industrial
Office Spaces with Retail
Total: 802,788 SF
By square footage range:
- 50k to 100k SF: 396,816 SF / 49.43% of total office with retail
- 100k to 500k SF: 405,972 SF / 50.57% of total office with retail
Employment in La Mirada, CA
Job growth in La Mirada has remained steady, with an unemployment rate of just 3.6%. Nearly 48% of the labor force works in the areas of management, education & training, business & financial operations, administration, and food service.
Major employers in La Mirada include
- Biola University with nearly 1,400 employees
- S. Food service with 700
- Norwalk-La Mirada Unified School District with nearly 400
- Kindred Hospital La Mirada with nearly 300 workers
- the City of La Mirada with nearly 300
- A Better Tomorrow Education with 250 employees
- Crothall Healthcare with over 200.
Education in La Mirada, CA
Public education in La Mirada is governed by the Norwalk-La Mirada Unified School District, which operates 17 elementary schools, six middle schools, and four high schools in La Mirada and neighboring Norwalk. Private schools in La Mirada include St. Paul of the Cross School, and Beatitudes of Our Lord School.
La Mirada is home to Biola University, a nationally ranked Christian University offering biblically centered education, spiritual development, and vocational preparation. Other colleges and universities near La Mirada include Bethesda University of California, Cerritos College, Everest College Anaheim, Whittier College, and West Coast University Orange County.
Commuting Time in La Mirada, CA
The commute time in La Mirada is just over 29 minutes a day, although times can vary widely for work day commuters traveling throughout the metro area to their jobs. Over 2% of the workforce has a super commute of 90 minutes or more. Almost 8% of the work week commuters car pool, while over 3% of the labor force takes advantage of the small size of the city by walking to work.
La Mirada is close to major airports, interstate freeways, and both commuter and freight rail services.
- Interstate 5 passes through La Mirada, and State Route 30 goes through the east end of the city.
- A Metrolink Commuter Rail station is located in La Mirada, with Norwalk Transit and Montebello Bus Lines providing regular bus public transportation.
- Freight rail service in La Mirada is provided by BNSF Railway, while Union Pacific operates along Interstate 5 and serves the city's southern industrial areas.
- Airports near La Mirada include Los Angeles, Long Beach, and Ontario International Airports.
LA Mirada Demographics
Population
- Total Population48,764
- Male Population(48.8 %) 23,806
- Female Population(51.2 %) 24,958
- Median Age39.60
Income/Financial
- Average Household Income$108,888
- Median Household Income$95,685
- Median Income Under 25$46,964
- Median Income 25-44$109,387
- Median Income 45-64$110,884
- Median Income Over 65$52,920
News
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