Population growth within central LA means further densification within the urban core
Over the next five years, the largest amounts of population growth in Los Angeles are expected to occur near and around the city center.
October 09, 2019
- Over the next five years, the largest amounts of population growth in Los Angeles are expected to occur near and around the city center. By 2024, Downtown Los Angeles is expected to add over 12,000 new residents, an increase of over 20 percent and the largest growth rate of any LA neighborhood. New housing developments in the South Park portion of Downtown, access to Metro’s rail lines, and Millennial interest in Downtown’s urban lifestyle are among the biggest drivers behind the neighborhood’s residential growth.
- Other notable growing neighborhoods include Hollywood and Koreatown which are predicted to grow at rates of 9 percent and 6 percent respectively, making them the 3rd and 4th fastest growing neighborhoods in LA. Today, these communities are already among the most densely populated areas of Los Angeles with Koreatown being the densest. Similar to DTLA, transit access remains a significant draw to the area.
- Continued growth within the urban core suggests that Los Angeles is shifting away from its traditional model of urban sprawl and is finally embracing a more traditional, centralized, urban model. That shift toward centralization could mean a variety of changes for the region including shifting traffic patterns, new potential for urban developments, and much more.
- One such potential change includes the repositioning of some of the region’s central office submarkets. As tenants in the market remain interested in locating closer to their employees and the labor force in general, submarkets like Downtown, Hollywood, and Mid-Wilshire could become more attractive locations for companies.
Source: JLL Research / Esri / Los Angeles Times