The office real estate leasing market in the United States was severely affected by the coronavirus pandemic. Before the pandemic, the average vacancy rate of downtown offices was 10.5 percent and in 2023, it increased to 17.9 percent. Suburban offices were less affected, with the vacancy rate rising from 12.6 percent to 16.4 percent.
Vacancy rate of downtown and suburban office real estate in the United States from 2016 to 2023
(in million square feet)
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Statista. (January 31, 2024). Vacancy rate of downtown and suburban office real estate in the United States from 2016 to 2023 (in million square feet) [Graph]. In Statista. Retrieved September 20, 2024, from https://www-statista-com.ezproxy.canberra.edu.au/statistics/1349938/office-vacancy-rate-usa/
Statista. "Vacancy rate of downtown and suburban office real estate in the United States from 2016 to 2023 (in million square feet)." Chart. January 31, 2024. Statista. Accessed September 20, 2024. https://www-statista-com.ezproxy.canberra.edu.au/statistics/1349938/office-vacancy-rate-usa/
Statista. (2024). Vacancy rate of downtown and suburban office real estate in the United States from 2016 to 2023 (in million square feet). Statista. Statista Inc.. Accessed: September 20, 2024. https://www-statista-com.ezproxy.canberra.edu.au/statistics/1349938/office-vacancy-rate-usa/
Statista. "Vacancy Rate of Downtown and Suburban Office Real Estate in The United States from 2016 to 2023 (in Million Square Feet)." Statista, Statista Inc., 31 Jan 2024, https://www-statista-com.ezproxy.canberra.edu.au/statistics/1349938/office-vacancy-rate-usa/
Statista, Vacancy rate of downtown and suburban office real estate in the United States from 2016 to 2023 (in million square feet) Statista, https://www-statista-com.ezproxy.canberra.edu.au/statistics/1349938/office-vacancy-rate-usa/ (last visited September 20, 2024)
Vacancy rate of downtown and suburban office real estate in the United States from 2016 to 2023 (in million square feet) [Graph], Statista, January 31, 2024. [Online]. Available: https://www-statista-com.ezproxy.canberra.edu.au/statistics/1349938/office-vacancy-rate-usa/