On average, listings lease in the $20's per square foot per year. The Homewood submarket is seeing a decline in rates. In the last 3 months, the median rate decreased $1 per sqft per year. That's a 4% decline in rent.
Compared to the rest of the Birmingham market, the Homewood submarket has greater rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 23 listings have come on the market, which means office spaces are probably leasing quickly. You'll want to be prepared to make an offer immediately. 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 9,730 sqft, there are still 0 leases below 2,000 sqft. Most properties in this region are close to 2 stories. Most buildings in this market were built in 1979 and are Class A.