Urban revivalists rejoiced earlier this year when the US Census delivered news that Downtown Los Angeles had made the comeback of the decade. The Downtown Center Business Improvement District (DCBID) today piled on more evidence that someone has done something right in Downtown (hint: it probably wasn't the extra Walgreens), releasing the Downtown Los Angeles Demographic Study 2011. The study is the only report that compiles data focused specifically on the Downtown market: "where we are in terms of employment, education and income," and, perhaps most importantly, "how we spend our time and our money."
The report, which was written by Horizon Consumer Services and expands on a 2008 study, echoes some of the findings of the Census. According to the report: "A total of 28,861 residential units are located in Downtown LA, up 11.0% from 2008 (4th quarter)" and "A total of 45,518 persons are residing in Downtown, a strong 15.1% rise from 2008 (4th quarter)." The report also claims that Downtown residents in 2011 have higher employment rates, more education, and increased use of public transit than they did in 2008. But they also have experienced declines in home ownership and income--effects, according to the report, of the recession.
The report, chock-a-block with the detailed charts and numbers that we know you love, is available at the DCBID website.
· Downtown: Now With More People Than Bismarck, N.D. [Curbed LA]
· Downtown Los Angeles Demographic Study 2011 [DowntownLA.com]