Westminster, CA Economic Overview
Westminster is located in Orange County, the most populated county in California, behind the Los Angeles and San Diego counties. With a population of nearly 92,000 residents, this small 10-square-mile city is home to the largest percentage of Vietnamese-Americans in the U.S., accounting for over 40% of the population. The commercial real estate market in Westminster is driven by its centralized location in Orange County, its Vietnamese-populated Little Saigon area, and the city's strategic approach to business development.
The economy of Westminster is multi-faceted, and mostly driven by the number of car dealerships in the city, it's thriving retail businesses including Westminster Mall, and Little Saigon, which is the main attraction for Vietnamese tourists and businesses.
With a median household income of over $53,000/year and an unemployment rate of just 6.1%, the economy in Westminster continues to grow, particularly in the area of retail development.
Westminster, CA Commercial Real Estate Market
Conveniently located between the Pacific Coast beaches and the entertainment destinations of Orange County, Westminster's commercial real estate market offers some of the most dynamic and appealing development opportunities in the region.
Within a 20-minute drive from Downtown Westminster are some of the most affluent households in the country, along with the largest concentration of Vietnamese-Americans in the U.S. These factors give retailers the opportunity to reach a broad demographic base that has money to spend and is looking for a wide array of shopping and entertainment choices, everything from well-established name brands to cutting-edge boutiques.
As a result, the local retail market is thriving, as well as the Westminster office market, with the city’s existing mix and also seeing continued demand for new development. The city has identified six mixed-use areas in Westminster that are projected to sustain growth and development over the next 20 years:
Civic Center is bordered by 13th Street, Westminster Boulevard, Beach Boulevard, and Newland Street, and is home to many of the public facilities in the city. Development of the Civic Center in Westminster calls for residential units, grocery, and street-front retail.
Downtown Westminster Boulevard calls for infill development and redevelopment centered around Sigler Park and Westminster Center, a 433,000-square-foot community shopping center. Mixed-use development along Westminster Boulevard will transform the area into a walkable district and will attract people from Cypress, Huntington Beach, and other cities close to Westminster.
Beach Boulevard is the northern gateway into the City of Westminster and home to the 281,000-square-foot Westminster Gateway community shopping center. Also known as State Route 89, Beach Boulevard intersects with I-405 and SR-22 and is currently comprised of numerous small strip shopping centers.
Little Saigon in Westminster is a niche market, characterized by its Vietnamese residents, visitors who come to Little Saigon for the cultural experience, and tourists from around the world who are drawn to the area. The 20-acre Little Saigon, bordered by Bolsa Avenue, between Magnolia and Brookhurst, including the Asian Garden Mall, is earmarked to be developed into a mixed-use, pedestrian-friendly area.
Westminster Mall lies along the I-405 and the boundary of the city and would be revitalized by the addition of residential units and a broadening of the current retail tenant mix to include other commercial real estate uses such as office and educational facilities.
Northwest District in Westminster is the area where I-405 and State Route 22 merge and represents a key long-term development area in the city. Along with the Beach Boulevard project, the Northwest District is the first part of the city that commuters see as they travel through Westminster.
Westminster, CA Commercial Inventory Breakdown
Total: 183,826 SF
By square footage range:
- 50k to 100k SF: 183,826 SF / 100% of total office
- Class B: 183,826 SF / 100% of total office
Total: 467,250 SF
By square footage range:
- 50k to 100k SF: 95,705 SF / 20.48% of total industrial
- 100k to 500k SF: 371,545 SF / 79.52% of total industrial
- Class A: 258,506 SF / 55.32% of total industrial
- Class B: 208,744 SF / 44.68% of total industrial
Employment in Westminster, CA
Job growth in Westminster, has increased by nearly 5% over the past year, with a labor force of over 42,000 in the city. Nearly 37% of the labor force in Westminster works in sales, personal care & service, food service, and production.
Top employers in Westminster include
- Braun Medical with 1,300 employees;
- Westminster School District with over 1,100;
- Southern California Edison and Ito Farms, each with over 600;
- Kindred Hospital Westminster with 450;
- City of Westminster with nearly 400 workers;
- BE Aerospace with 350;
- Walmart and Sears, each with over 300;
- Magnolia Educational & Research Foundation with nearly 300.
Education in Westminster, CA
Public schools in Westminster are operated by the Westminster School District, the Garden Grove Unified School District, the Huntington Beach Union High School District, and the Ocean View School District. Top rated public schools in Westminster include the Post Elementary School, the Sarah McGarvin Intermediate School, and La Quinta High School.
The Asian American International Beauty College and the Elite Beauty College are both located in Westminster. Colleges and universities near Westminster include Coastline Community College in Fountain Valley and California State University in Long Beach.
Commuting Time in Westminster, CA
The average commuting time in Westminster is over 26 minutes, with nearly 3% of the workforce having a super commute of 90 minutes or more. In addition, over 12% of the work week commuters carpool and nearly 4% have the option of working from home.
- The I-405 San Diego Freeway and the State Route 22 Garden Grove Freeway both pass through Westminster.
- Bus service in Westminster is provided by the Orange County Transit Authority.
- The international shipping port of Long Beach is directly west of the city.
- John Wayne Airport, Long Beach Airport, Los Angeles International Airport, Ontario International Airport, and Bob Hope Airport are all within 44 miles of the city.
- Total Population91,785
- Male Population(49.3 %) 45,211
- Female Population(50.7 %) 46,574
- Median Age41.60
- Average Household Income$78,740
- Median Household Income$57,575
- Median Income Under 25$36,926
- Median Income 25-44$67,917
- Median Income 45-64$70,461
- Median Income Over 65$34,606