Downtown offices in the United States achieved on average higher rents than suburban offices. In the fourth quarter of 2023, the annual quoted rent of Class A offices in downtown areas was 53.3 U.S. dollars per square foot, while for suburban offices it was 35 U.S. dollars per square foot. Despite a slight dip in 2021, office rents have overall increased from the historical average. Until 2027, office rents are forecast to grow slightly.
Annual quoted rent for downtown and suburban office real estate in the United States from 2016 to 2023
(in U.S. dollars per square foot)
The historical average has been calculated by Statista using figures from Colliers' Office market outlook. Unless specified, the figures refer to Q4 of each year.
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Statista. (January 31, 2024). Annual quoted rent for downtown and suburban office real estate in the United States from 2016 to 2023 (in U.S. dollars per square foot) [Graph]. In Statista. Retrieved November 22, 2024, from https://www.statista.com/statistics/1349940/annual-quoted-rent-offices-usa/
Statista. "Annual quoted rent for downtown and suburban office real estate in the United States from 2016 to 2023 (in U.S. dollars per square foot)." Chart. January 31, 2024. Statista. Accessed November 22, 2024. https://www.statista.com/statistics/1349940/annual-quoted-rent-offices-usa/
Statista. (2024). Annual quoted rent for downtown and suburban office real estate in the United States from 2016 to 2023 (in U.S. dollars per square foot). Statista. Statista Inc.. Accessed: November 22, 2024. https://www.statista.com/statistics/1349940/annual-quoted-rent-offices-usa/
Statista. "Annual Quoted Rent for Downtown and Suburban Office Real Estate in The United States from 2016 to 2023 (in U.S. Dollars per Square Foot)." Statista, Statista Inc., 31 Jan 2024, https://www.statista.com/statistics/1349940/annual-quoted-rent-offices-usa/
Statista, Annual quoted rent for downtown and suburban office real estate in the United States from 2016 to 2023 (in U.S. dollars per square foot) Statista, https://www.statista.com/statistics/1349940/annual-quoted-rent-offices-usa/ (last visited November 22, 2024)
Annual quoted rent for downtown and suburban office real estate in the United States from 2016 to 2023 (in U.S. dollars per square foot) [Graph], Statista, January 31, 2024. [Online]. Available: https://www.statista.com/statistics/1349940/annual-quoted-rent-offices-usa/
