On average, listings lease in the $20's per square foot per year. The Downtown Pittsburgh submarket is seeing a decrease in rates. In the last 3 months, the median rate decreased $7 per sqft per year. That's a 20% decline in rent.
Compared to the rest of the Pittsburgh market, the Downtown Pittsburgh submarket has smaller rates, so you should have no trouble finding a great deal in this undervalued submarket.
In the last 90 days, 151 listings have come on the market, so you'll want to check back regularly for new listings. About 3% of the available leases in the Downtown Pittsburgh are subleases, so you will probably need to sign a longer term lease with the landlord directly. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
Even though the median size is 3,000 sqft, there are still 0 listings below 2,000 sqft. Most properties in this region are around 14 floors. Most buildings in this market were built in 1918 and are Class B.
Waste services is the dominant industry in this region. Commute by walking is the most popular way to get to work amongst Downtown Pittsburgh residents. Commuting close to 30 minutes a day is the norm for those who opt to reside in this part of town.