In addition to favorable loan interest rates, potential investors may be interested to know some interesting market and demographic facts about this real estate investment. Almost 77% of the population is above age 18, and thereby eligible to rent. Los Angeles is the second-largest center of government employment (after Washington, D.C.); the largest fashion industry employer (employing 87,000 people); home to a burgeoning biotech industry; and the second-largest city in the United States. More than 40 million tourists visit each year, supporting nearly 372,000 people employed in the tourism and hospitality industries. Also, the five-county regional area represents the sixteenth largest economy in the world, and plenty of college students need to rent in the area, given 113 colleges and universities in Los Angeles.