On average, listings lease in the $20's per square foot per year. The Elmwood Business District submarket is experiencing a decrease 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 Greater New Orleans Region market, the Elmwood Business District submarket has more expensive rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 8 listings have been posted online, which means new availabilities most likley are leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 13% of the available leases in the Elmwood Business District are subleases, so you might be able to snag a great spot on a short term. There aren't many listings below 2,000 square feet on the market, 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 market are around 2 stories. Most buildings in this market were built in 0 and are Class Class A.
Education is the dominant industry in this market. Commute by walking is the most popular way to get to work amongst Elmwood Business District folk. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.