Woodland Hills, CA Economic Overview
Woodland Hills is an affluent neighborhood bordering the Santa Monica Mountains, in the San Fernando Valley region of Los Angeles. Just a short hop from the famous beaches of Malibu, the area is bordered by Calabasas, Tarzana, and Topanga. Woodland Hills is home to just over 63,000 residents, and is one of the least dense neighborhoods in Los Angeles at roughly 14.8 square feet. The neighborhood is well-known for beinh home to many celebrities during their retirement, due to its proximity to the Motion Picture & Television Country House and Hospital–a private retirement, nursing care and acute-care hospital facility founded in the 1940s. The area is lush and green, perfect for those interested in hiking, biking, and other outdoor activities. The Upper Las Virgenes Open Space Reserve spans nearly 3,000 acres with several hiking trails, and the Orcutt Ranch Horticultural Center is famous for its lush citrus groves and beautiful rose garden. The Woodland Hills commercial real estate market is distinguished by breathtaking landscapes, proximity to Greater Los Angeles, and the bustling Ventura Boulevard and Westfield Topanga mall.
As part of the San Fernando Valley, Woodland Hills is located near numerous companies, the most well-known of which work in motion pictures, music recording, and television production. The valley was previously known for advances in aerospace technology and nuclear research conducted by companies such as Lockheed, Rocketdyne and its Santa Susana Field Laboratory, Atomics International, Litton Industries, Marquardt, and TRW's predecessor Thompson Ramo Wooldridge. While less dense than other Los Angeles neighborhoods, Woodland Hills boasts premium shopping and retail selections, at its well-known Westfield Topanga Mall and Village. With more visitors than Disneyland, the mall and village is a must see on any shopaholic’s list. From luxury fashion, to LA’s finest food to its one-of-a-kind boutiques, Westfield Topanga & The Village captures the LA essence like no other shopping destination. Woodland Hills is a relatively wealthy neighborhood with an average median household income of $94,000, compared to $69,000 in surrounding areas.
Woodland Hills, CA Commercial Real Estate Market
The San Fernando Valley has planned numerous urban development projects in the valley, concentrated in the neighborhoods of North Hollywood, Panorama City, and Woodland Hills. Rents continue to rise throughout the West Los Angeles office market, poised to add just under 2.1 million more square feet of office space in the near future, as construction and creative conversions deliver. Compared to the rest of the Metropolitan Los Angeles market, the Woodland Hills office market has slightly higher rates.
Ventura Boulevard is one of the primary east-west thoroughfares and oldest routes in the San Fernando Valley, originally part of the El Camino Real. Running 18 miles, Ventura Boulevard is the world’s longest avenue of contiguous businesses. Woodland Hills Ventura Boulevard real estate includes office space directly off Ventura Freeway and Topanga Canyon Boulevard, and networking options among its accompanying restaurants, entertainment, and nightlife. Gateway Plaza, a retail shopping center located nearby, is situated on the northeast corner, just a few short miles from Warner Center Park, which is known for its free concerts in the park during the summer months.
Woodland Hills Office Rental Rates ($/SF/year)
Data provided by Yardi Matrix, for properties larger than 50K SF.
Woodland Hills Office Sales
Data provided by Yardi Matrix, for properties larger than 50K SF, which sold at over $5M.
Employment in Woodland Hills, CA
As part of the Los Angeles County’s labor force of over 5.1 million, Woodland Hills has a relatively low unemployment rate, averaging at 4.5%. The occupations with the fastest job growth in the area include Mathematicians, Statisticians, Personal Care Aides, and other Personal Care and Service Workers. The occupations with the highest wages include Psychiatrists, Surgeons, and Physicians.
According to the BLS, the industries in the Los Angeles-Long Beach-Glendale, CA area with the highest employment numbers include:
- Trade, Transportation, and Utilities — currently employs 819,000, reducing at -0.4%/yr;
- Education and health services — currently employs 797,100, growing at 3.3%/year;
- Professional and business services — currently employs 614,300, growing at 2.7%/year.
Education in Woodland Hills, CA
Public schools serving Woodland Hills are under the jurisdiction of the Los Angeles Unified School District. Woodland Hills also has numerous private and chartered schools.
For higher education, the neighborhood is home to West Valley Occupational Center, as well as Los Angeles Pierce College, which is the largest in the Los Angeles area, serving over 23,000 students in the northern Chalk Hills of Woodland Hills. Pierce College combines state-of-the-art technology and learning with the picturesque beauty of its rolling hills. The campus' setting among 2,000 trees, thousands of rose bushes, a nature preserve, botanical garden and a forest area boasting giant redwoods, makes it unique in the Los Angeles metropolitan area.
Commuting Time in Woodland Hills, CA
The major freeway in Woodland Hills includes the Ventura Freeway/Hollywood Freeway, and the most notable street in the area is Ventura Boulevard. Subway, dedicated transitway, and express and local buses, provided by many agencies, serve the San Fernando Valley. The Los Angeles County Metropolitan Transportation Authority operates two Metro Red Line subway stations in the Valley, which are located at Universal City and North Hollywood, and connect it directly to Hollywood and Downtown Los Angeles. Metrolink commuter rail has two Valley lines, the Antelope Valley Line and Ventura County Line, which connect the Valley and beyond to downtown Los Angeles and south, becoming one line at the Burbank station.
Employees in the Greater Los Angeles area have a longer average commute time of 27.6 minutes than the national average of 24.8 minutes. The largest share of workers drive alone to work, followed by those who carpool or work at home.
Woodland Hills Demographics
- Total Population66,821
- Male Population(49.2 %) 32,847
- Female Population(50.8 %) 33,974
- Median Age42.00
- Average Household Income$112,336
- Median Household Income$86,456
- Median Income Under 25$41,285
- Median Income 25-44$95,502
- Median Income 45-64$100,284
- Median Income Over 65$63,633
- Burbank Demographics
- Canoga Park Demographics
- Chatsworth Demographics
- Encino Demographics
- Granada Hills Demographics
- Hidden Hills Demographics
- Lake Balboa Demographics
- Mission Hills Demographics
- North Hills Demographics
- North Hollywood Demographics
- Northridge Demographics
- Pacoima Demographics
- Panorama City Demographics
- Porter Ranch Demographics
- Reseda Demographics
- San Fernando Demographics
- Shadow Hills Demographics
- Sherman Oaks Demographics
- Studio City Demographics
- Sun Valley Demographics
- Sunland Demographics
- Sylmar Demographics
- Tarzana Demographics
- Toluka Lake Demographics
- Valley Glen Demographics
- Van Nuys Demographics
- West Hills Demographics
- Woodland Hills Demographics
LA Office Sales Volume Drops 36% in Q1 2017
April 19, 2017
Executive summary Q1 sales volume drops 36% year-over-year to $1.5 billion average price per square foot down 46% from Q4 2016 ($294) Warner Center buildings sell to Oaktree Capital in largest sale of Q1 11 projects totaling 2.8 million square feet on track for Q2 delivery Following its most a...
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