The typical asking rate per listing is in the $20's per square foot per year. The Fashion District region is going through a decline in rates. In the last 3 months, the median rate fell $1 per sqft per year. That's a 3% decrease in rent.
Compared to the rest of the Metropolitan Los Angeles market, the Fashion District submarket has less expensive rates, so you should have no trouble finding a great deal in this depreciated submarket.
In the last 90 days, 32 listings have been made available, which means new listings might be going fast. You'll want to be prepared to make an offer immediately. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
Even though the median size is 3,200 sqft, there are still 0 leases below 2,000 sqft. Most properties in this area are close to 4 stories. Most buildings in this market were built in 1924 and are Class B.
This market is fairly equally mixed residential and commercial. Professional services is the dominant industry in this region. Most of the residents of Fashion District work from home. Commuting approximately 10 minutes a day is the norm for those who opt to reside in this part of town.