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 fell $3 per sqft per year. That's a 10% 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, 201 listings have come on the market, so you'll want to check back regularly for new listings. About 37% of the available leases in the Downtown Pittsburgh are subleases, so you might be able to sign a shorter term by taking over a previous lease. 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 5,250 sqft, there are still 0 new listings below 2,000 sqft. Most properties in this market are around 14 stories. Most buildings in this market were built in 1920 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 approximately 30 minutes a day is the norm for those who opt to reside in this part of town.