Pico Rivera, CA Economic Overview
Pico Rivera is a city in southeastern Los Angeles County, situated approximately 11 miles southeast of Downtown L.A. The City spans a distance of 8.9 square miles on the eastern edge of the Los Angeles basin and on the southern edge of the San Gabriel Valley. As part of the Gateway Cities, Pico Rivera commercial real estate reaps benefits from the iconic scenery and economic activity of both the Los Angeles metropolitan region and the San Gabriel Valley. The City has experienced significant redevelopment in recent years, including the opening of the Pico Rivera Towne Center, Pico Crossing, and Pico Rivera Village Walk. There are over 120 acres committed to public recreational facilities, in Pico Rivera.
Economic activity remains strong in the Pico Rivera area, as it continues to diversify its base of employment. From 2007 to 2015, the City has come to host a variety of sectors including retail, education, transportation, government, and manufacturing—each contributing 11-16% of the City’s jobs.
Pico Rivera, CA Commercial Real Estate Market
The City of Pico Rivera is currently undergoing a period of significant commercial property redevelopment, mostly for retail use. A 157-acre manufacturing facility formerly operated by the Ford Motor Company, located at the corner of Rosemead and Washington boulevards, was transformed from industrial use to large retail centers. Pico Rivera Towne Center, a 60-acre open-air shopping complex along Washington Boulevard, brings well-known businesses like Wal-Mart, Starbucks, and Lowe’s into the City. Whittier Boulevard redevelopments have brought in new business and host some office space in the City. Pico Rivera Village Walk, a $22 million, 12-acre shopping center located the southwest corner of Whittier and Paramount boulevards, has also recently opened its doors to the community.
Pico Rivera, CA Commercial Inventory Breakdown
Total: 114,901 SF
By square footage range:
- 50k to 100k SF: 114,901 SF / 100% of total office
- Class B: 114,901 SF / 100% of total office
Total: 6,235,750 SF
By square footage range:
- 50k to 100k SF: 186,967 SF / 3% of total industrial
- 100k to 500k SF: 6,048,783 SF / 97% of total industrial
- Class A: 3,517,628 SF / 56.41% of total industrial
- Class B: 2,117,360 SF / 33.96% of total industrial
- Class C: 600,762 SF / 9.63% of total industrial
Employment in Pico Rivera, CA
Principal employers in the city include El Rancho Unified School District, Wal-Mart, the city of Pico Rivera itself, BakeMark USA, and Target. Demographically, the city of Pico Rivera is a mostly Hispanic community, with 91.7% of residents being Hispanic or Latino. Per capita personal income and unemployment rates have shown tremendous improvement since the recession, with median household income currently at $55,752 per year.
In Pico Rivera, the most common job groups are Sales & Office, Production & Transportation, and Management. The City has recently grown into a highly dynamic and diverse workforce with 16.9% employed in Retail, 16.6% in Education, and 12.2% in Transportation, with a low unemployment rate of 3.8%. In Los Angeles County, the occupations with the fastest projected job growth over the next decade include Office and Administrative Support, Food Preparation and Service, Personal Care and Service, and Management.
According to the Bureau of Labor Statistics, the industries in the Los Angeles-Long Beach- Glendale, CA area with the highest employment numbers include:
- Trade, Transportation, and Utilities—currently employs 820,900, growing at 0.2% per year
- Education and Health Service—currently employs 781,000, growing at 2.6% per year
- Professional and Business Services—currently employs 615,900, growing at 3.1% per year
Education in Pico Rivera, CA
The City is served by the El Rancho and Montebello Unified School Districts, with nearby university and college systems in Los Angeles and Orange counties providing higher education. Most students attend schools in the El Rancho Unified School District. Those who reside in the Montebello Gardens area are in the Montebello Unified School District. The Armenian Mesrobian School, a K-12 Armenian private school, is also located in Pico Rivera.
For higher education, there are a total 136 colleges within 50 miles of Pico Rivera. The nearest college is East Los Angeles College at a distance of 4.8 miles from Pico Rivera center. Additional options include Everest College City of Industry, Rio Hondo College, University of the West, and California State University Los Angeles, all within 7 miles from Pico Rivera.
Commuting Time in Pico Rivera, CA
As one of the Gateway Cities, Pico Rivera is highly accessible from Downtown Los Angeles and surrounding cities, bordered by Downey, Santa Fe Springs, Whittier, City of Industry, Montebello, and Commerce via several freeways, including the 605, 5, and 60. The City and the Valley provide extensive transportation options both within Pico Rivera and to nearby regions of Southern California.
- For those driving through the City, State Route 19 (a.k.a Lakewood Boulevard and Rosemead Boulevard) runs through the center of the city, and the San Gabriel River Freeway (I-605) runs along its southeastern edge.Montebello Bus Lines. The MTA website also provides maps of bus and train routes.
- Public transportation is provided by the Metropolitan Transit Authority (MTA) and Montebello Bus Lines. The MTA website also provides maps of bus and train routes.
- The nearest major airport is Long Beach Airport, 19 miles from the center of Pico Rivera, with domestic flights only. Another major airport is Los Angeles International Airport (LAX), which hosts international and domestic flights from Los Angeles and is 25 miles from Pico Rivera.
Employees in Pico Rivera face an average commute time of 29.4 minutes, which is slightly longer than the national average of 24.8 minutes. The largest share of workers drives alone, followed by those who carpool and use public transit.
Pico Rivera Demographics
- Total Population63,750
- Male Population(48.6 %) 30,964
- Female Population(51.4 %) 32,786
- Median Age36.30
- Average Household Income$72,287
- Median Household Income$61,586
- Median Income Under 25$47,578
- Median Income 25-44$63,125
- Median Income 45-64$70,663
- Median Income Over 65$42,125
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Residential Rents in Pico Rivera, CA
The average rent for an apartment in Pico Rivera is $1,427 a month, a 10% year-over- year increase. Studio apartments rent for $1,195 per month on average, while two-bedroom unit rents average $1,987 per month, and three-bedroom apartments go for $1,590 a month.
Pico Rivera, CA Average Rental Price, July 2019
- $ 1,413/mo
- Studio: $ 1,168
- 1 Bedroom: $ 1,459
- 2 Bedrooms: $ 1,742
Pico Rivera, CA Rent Trends
COMMERCIALCafé is your first and only stop when it comes to commercial real estate leasings in Pico Rivera, CA. Search through our extensive selection of commercial properties for lease with current space availability in the area ranging between 19830 square feet and 173910 square feet. Discover the right property from our 36 listings by using our advanced search function, which includes search by property type, space availability, management company, lease rates, and more.