Christina can make it easy for you. After four decades in Los Angeles real estate, our team has the expertise to identify the most lucrative real estate markets for investment. The neighborhood Marina Del Rey in Los Angeles is one such market.
Choose Marina Del Rey for a Better Portfolio
As inflation continues to worsen in the United States and around the globe, including real estate assets in your investing strategy won’t just protect your finances, they can help you thrive in this period of economic stress.
High-value real estate is a stable, bankable investment that can help you protect your portfolio and maintain its performance.
Let’s explore what makes Marina Del Rey unique and why it provides such beneficial real estate assets.
Where Is Marina Del Rey?
Marina Del Rey is a small neighborhood in the Westside region. The Westside region of Los Angeles begins from La Cienega Blvd, going west to the specific coast; it’s one of the most competitive real estate markets in the entire city.
The closer to the coast, the more valuable the real estate you’ll find. Marina Del Rey is located right on the water — it means Marina of the King in Spanish.
This unincorporated seaside community is minimal — only 1.445 square miles. At such a tiny size, it’s considered one of many niche microneighborhoods in Los Angeles. Its borders consist of Via Marina to the southwest, W Washington Blvd to the northwest, Admiralty Way on the northeast, then Lincoln Blvd until it hits the southeastern boundary of Ballona Creek.
Its neighbors include some of L.A.’s most iconic neighborhoods like Venice and Santa Monica to the north and Playa Vista to the south.
Why Are People Moving to Marina Del Rey?
- It’s the center of L.A.’s tech boom.
- It’s a great location.
- There’s plenty to do.
How Is the L.A. Tech Boom Affecting Marina Del Rey?
Since 2011, the world’s biggest tech companies have been moving en masse to the Westside region of Los Angeles. Harkening to northern California’s high-density tech ecosystem Silicon Valley, the increasing tech presence in the Westside has earned it a similar moniker: Silicon Beach.
Marina Del Rey is just outside the epicenter of the Silicon Beach phenomenon.
Development for office spaces to house the growing number of tech companies in the area and new residential units to serve the people moving to work for them has transformed Marina Del Rey and the surrounding area.
Tech Companies Have Flooded These Real Estate Markets With Capital
Tech has become the dominant industry in the modern economy. A single tech company can transform the economy of a city. Los Angeles is home to tens of dozens.
Marina Del Rey is at the center of this tech explosion. As a result, property in this tiny area is skyrocketing in value.
With tech companies continuing their domination of the world economy, they’ve become fiscal hubs for local communities like Marina Del Rey. They don’t just bring in more money but more high-income earning residents, making for a prime real estate market.
Why Is Marina Del Rey Such a Great Location?
Waterfront property in Los Angeles has highly sought after.
Marina Del Rey is about as close to the water as can be. The neighborhood essentially surrounds the marina, opening directly into the Pacific Ocean. Its proximity to the water and the sunny beaches of the Westside region alone make Marina Del Rey highly attractive to residents and businesses alike.
Its surrounding neighborhoods make Marina Del Rey centrally located within some of the most high-value Los Angeles areas. Santa Monica to the north is packed with new tech businesses—it was the epicenter of the Silicon Beach phenomenon—that Marina Del Rey residents and businesses benefit from directly.
Venice is right on Marina Del Rey’s northern border as well.
Route 1 is just outside Marina Del Rey. Residents can hop on this highway for fast and efficient travel up the coast towards Malibu or take a 20-minute drive to nearby LAX in Westchester.
Marina Del Rey Is in a Prime Location for Real Estate
This neighborhood is at the center of L.A.’s business revolution. With other tech-heavy communities nearby, residents and businesses immerse themselves in the high circulation of capital flowing through the Westside.
With necessary amenities like beaches and LAX so close, Marina Del Rey is a prime location for hot real estate.
What Is There To Do in Marina Del Rey?
Marina Del Rey offers residents and tourists plenty to do in such a small neighborhood.
A giveaway to Marina Del Rey’s entertaining fixtures is the sheer number of luxury hotels within this compact area. The neighborhood houses five four-star hotels with fantastic vistas, pools, and restaurants.
The dining scene in Marina Del Rey is top-notch. Many local restaurants serve everything from farm-to-table health food to freshly caught seafood, plus a farmers market in the middle of the neighborhood.
The yacht clubs and boating opportunities in Marina Del Rey are unique features of this small neighborhood. As a marina, the community allows folks to take the water and enjoy the Pacific Ocean up close and personal.
Between Mother’s Beach, Burton Chace Park, and Yvonne B. Burke Park, Marina Del Rey gives residents exclusive green spaces to enjoy southern California’s world-renowned weather.
Marina Del Rey Hosts High-Quality Amenities for Locals and Tourists
The restaurants, hotels, and boating opportunities in Marina Del Rey are premium offerings that maintain a high circulation of capital within this enclosed neighborhood.
Commercial spaces hosting these businesses, docking fees, and residential areas benefit from a steady baseline value due to these attractive features in the neighborhood. Whether it’s the residents spending money at the local farmer’s market or tourists leaving the hotel to rent a boat, the cash flow in Marina Del Rey is high.
As a result, the real estate market maintains a high degree of stability and high-value properties.
It’s essential to understand the people living there to understand the future of Marina Del Rey’s real estate market.
A better sense of the local population, their income, and the predominant workforce that calls Marina Del Rey is a forerunner to the future potential of the neighborhood.
Ten thousand sixty-five people call Marina Del Rey home. Marina Del Rey is small, even compared to the other neighborhoods around Los Angeles. However, the population is on the rise. The year-over-year change in population has gone up by 2.2%.
The median age for Marina Del Rey residents is 39. Compared to other affluent parts of the city, that’s relatively young.
The majority of people in the area aren’t married yet, 45%. The most prominent demographic after people who have never been married are married people, making up 41% of the population.
On the whole, Marina Del Rey draws in a reasonably young, unmarried crowd.
The median yearly income for Marina Del Rey residents is $120,437, while the average annual income is even higher, at $150,023—both of which are rising.
Younger people earn most of the money in Marina Del Rey.
- Median income for under 25: $116,000
- Median income for 25 – 44: $130,000
- Median Income 45 – 65: $120,000
- Median income over 65: $81,000
With more young people moving into the area following the Silicon Beach tech boom, Marina Del Rey will likely attract more upwardly mobile young people.
The vast majority of the Marina Del Rey workforce do white-collar work, 98% with 2% of the population working in blue-collar fields.
Of those white-collar workers, 72% work for the private sector. The next largest demographic for the Marina Del Rey workforce are self-employed entrepreneurs. Government workers make up 6%, and non-profit workers make up 3%.
As the Silicon Beach economic phenomenon continues to deepen in the area, the privatized white-collar workforce will likely become equally entrenched in neighborhoods like Marina Del Rey, increasing its demand and property values.
Learn more about the forces shaping Los Angeles real estate with our educational resources.
What Are the Real Estate Trends in Marina Del Rey?
- Property value
- Number of housing units
- Average Listings and DOM
Considering the location and the surrounding economic forces affecting Westside real estate, property values in Marina Del Rey are some of the most accessible for investors.
The median listing price for homes in the neighborhood is about $662,000 — about $574 per sqft.
Sales prices for homes are lower at $614,000, indicating that Marina Del Rey is a buyer’s market. Median listing prices have trended downwards by 3.4% since last year. Now is a great time to get into this high-potential market.
Number of Housing Units
Marina Del Rey has 6,425 housing units. The homeowners own only 4% of those housing units. The vast majority of residential properties in Marina Del Rey are rented out — 96% of them.
With such a large rental market, rental properties are a bankable investment in these niche neighborhoods.
Most of the units were built in the 1970s. But development is on the rise. The year-over-year growth of new housing units in Marina Del Rey is 4.3%. With more housing on the way to serve the influx of residents, the Marina Del Rey real estate market can be expected to grow stronger in the coming years.
Average Listings and DOM
There are currently 103 homes for sale and 90 homes for rent in Marina Del Rey. 14 properties got sold this past June, fewer than the 26 sold in June last year.
Properties stay on the market for a slightly more extended than 2021. The average number of days on the market is 36 days, whereas last year it was 34 days.
Fewer properties are selling and staying on the market longer, another strong indication that it’s a buyers market in Marina Del Rey.
The Future of Marina Del Rey Real Estate
Marina Del Rey has so much going for it. Its waterfront properties are a massive benefit. Its centrality in Silicon Beach continues to ramp up its attractiveness. It’s only a matter of time before these properties explode in value.
You can break into this highly lucrative real estate market with the help of Christina’s team of professionals. Getting started today will protect your portfolio tomorrow.