Livermore, CA Economic Overview
Livermore is located in Alameda County, on the eastern edge of the San Francisco Bay Area, and is the most populated city in the Tri-Valley region. Neighboring cities include Pleasanton, San Ramon, Diablo, Norris Canyon, and Sunol. Home to over 85,000 residents, this 27-square-mile city is just 30 miles southeast of Oakland, 29 miles from San Jose, and 43 miles from San Francisco. The commercial real estate market in Livermore is driven by its diverse mix of high tech research industry, its desirable location in the Tri-Valley area, and nearness to local vineyards.
Livermore is a vital hub in the Bay Area's entrepreneurial environment, due to its robust research and development infrastructure. Home to the world-class Lawrence Livermore National Laboratory and Sandia National Laboratories, the area is a magnet for highly skilled people who come to live, work, and participate in the innovative methods of collaborative research in both the private sector and academia.
With a median household income of nearly $101,000/year and an unemployment rate of only 3.2%, the economy of Livermore is exceptionally strong. Over the next five years, the population of Livermore is projected to grow by nearly 12%, as both residents and business take advantage of the area's proximity to the major metropolitan areas and the business-friendly nature of the city.
Livermore, CA Commercial Real Estate Market
Livermore's commercial real estate market is driven by a variety of factors, including the city's geographic positioning within the Tri-Valley area that supports regional connectivity, its existing and expanding business base, and its close proximity to Silicon Valley, the entire San Francisco Bay Area, and Northern California's Central Valley markets.
The city is less than a one hour drive from San Jose, San Francisco, Oakland, and Stockton. The These last three are also home to international shipping ports. In addition to operating its own Livermore Municipal Airport, a general aviation airport that provides private service to the area's many business executives, the city neighbors the three major international airports of Oakland, San Francisco, and San Jose.
There is a wide variety of commercial real estate property in Livermore, with over 21.6 million square feet of inventory across all asset types. There is 11.9 million square feet of warehouse space in Livermore, 2 million square feet of flex R&D space, 2.1 million square feet of space on the Livermore office market, nearly 1 million square feet of light industrial, and 4.7 million square feet of retail space - a testament to the affluence of the area.
The availability of commercial property in Livermore meets the needs of its diverse economy. The city's access to the San Francisco Bay and Central Valley, combined with commercial and industrial segments devoted to research and development, warehousing and distribution, and corporate campuses all work to attract business, industry and employment to Livermore.
Primary industry clusters in Livermore are centered around high tech manufacturing, life sciences, construction, healthcare, advanced technology, and retail, hospitality and tourism. Multiple strategies bring business and research together to spur technological advances and encourage the continued development of the innovation economy in Livermore.
The Lawrence Livermore and Sandia National Laboratories in Livermore employ thousands of leading scientists and engineers, while the Livermore Valley Open Campus is a joint venture between both Laboratories designed to facilitate direct access amongst academics and industry partners. Collaboration is centered on the areas of high performance computing, cyber security, combustion research, and advanced manufacturing.
Livermore, CA Office Sales Volume
Data provided by Yardi Matrix, for properties larger than 50K SF, which sold at over $5M.
Livermore, CA Office Transactions
Data provided by Yardi Matrix, for properties larger than 50K SF, which sold at over $5M.
Employment in Livermore, CA
Job growth in Livermore has increased by nearly 3% over the past year, with over 45,000 employees in the city's job market. Nearly 57% of the labor force in Livermore works in the areas of executive & managerial, professional specialty, and sales & office employment. Livermore is an employment magnet for highly skilled people in the region, who commute to the city to work at the two National Labs, the varied corporate headquarters and the numerous entrepreneurial ventures.
Livermore's central location allows it to draw both business and employees from other parts of the Tri-Valley area, the East Bay of San Francisco, and Silicon Valley.
Major employers in Livermore include Lawrence Livermore National Laboratory, Sandia National Laboratories, Valley Care Health Systems, Kaiser Permanente, Wente Wineries, US Foods, Los Positas College, and the City of Livermore.
Education in Livermore, CA
Public schools in Livermore are operated by the Livermore Valley Joint Unified School District. There are 11 elementary schools, three middle schools, two comprehensive high schools and three alternative high schools in Livermore. The city has more than 30 pre-schools and day care centers. Private schools in Livermore include Our Savior Lutheran School and Valley Montessori.
Colleges and universities in Livermore are Las Positas College and the University of Phoenix. Because of its proximity to the metropolitan areas of Oakland and San Francisco, students in Livermore also have wide access to the universities and colleges of the entire Bay Area, including ITT Technical Institute in Oakland, Heald College in Hayward, Mills College, Holy Names University, California College of the Arts, University of California at Berkeley, and Academy of Art University in San Francisco.
Commuting Time in Livermore, CA
The average commuting time in Livermore is nearly 29 minutes, about 20% longer than the national average. In addition, close to 4.5% of the workforce has a super commute of 90 minutes or more, while over 7% of the work week commuters carpool and over 5% have the option of working from home.
The City of Livermore is just 43 minutes from both San Jose and Oakland, 56 minutes from Stockton, and 58 minutes from San Francisco.
- The I-580 interstate freeway connects to the rest of the San Francisco Bay Area and also east to the Central Valley.;
- I-680 and State Route 84 provide access to San Jose.;
- Ace Rail has a station near Downtown Livermore at the Livermore Transit Center.;
- BART, the Bay Area Rapid Transit system, is also expanding to Livermore to provide rail transit to the Bay Area.;
- Bus service in Livermore is provided by Wheels at the Livermore Transit Center.;
- Livermore Municipal Airport is used by large corporate businesses, while San Francisco International Airport, Oakland International Airport, and San Jose International Airport are all nearby.
Livermore Demographics
Population
- Total Population88,232
- Male Population(48.8 %) 43,084
- Female Population(51.2 %) 45,148
- Median Age39.80
Income/Financial
- Average Household Income$132,041
- Median Household Income$109,084
- Median Income Under 25$53,906
- Median Income 25-44$124,101
- Median Income 45-64$125,599
- Median Income Over 65$62,226
Residential Rents in Livermore, CA
Due in large part to the affluence of the Livermore market, only 30% of the residents in the city rent rather than own. Residential rents in Livermore have actually decreased over the past year, and one-bedroom units are often times in short supply.
Renters in Livermore can expect to pay $1,808/month for a one-bedroom rental and an average of $2,644 monthly for a three-bedroom apartment.
Livermore, CA Average Rental Price, April 2019
- $ 2,080/mo
- Studio: $ 1,700
- 1 Bedroom: $ 1,849
- 2 Bedrooms: $ 2,209
Livermore, CA Rent Trends
CommercialCafé is your first and only stop when it comes to commercial real estate leasings in Livermore, CA. Search through our extensive selection of commercial properties for lease with current space availability in the area ranging between 2987 square feet and 35600 square feet. Discover the right property from our 38 listings by using our advanced search function, which includes search by property type, space availability, management company, lease rates, and more.