Los Angeles Region Overview 2024

The Greater Los Angeles, Orange County, and Inland Empire (GLA/OC/IE) region remained the second-most populated metro area in the U.S. with 18.4 million residents. Its combined gross regional product would rank 14th globally for GDP, between Mexico and Brazil. The region also supports a diverse industry base and is most renowned for its dense clustering of motion picture and media companies.

Top Trends:

• Net migration turned positive in 2023 for the first time in nearly a decade. Gross regional product and consumer spending continued to bolster the economy.
• Industrial and multifamily assets showed stable fundamentals, while retail and hospitality outperformed all sectors.
• Office occupancy and utilization continued to lag as companies balanced hybrid work policies with employee engagement.