On average, listings lease in the $20's per square foot per year. The Covington submarket is experiencing a decrease in rates. In the last 3 months, the median rate fell $14 per sqft per year. That's a 38% decline in rent.
Compared to the rest of the Greater New Orleans Region market, the Covington region has less expensive rates, so you should have no trouble finding a great deal in this undervalued submarket.
In the last 90 days, 6 listings have been made available, which means office spaces most likley are leasing quickly. You'll want to be prepared to make an offer immediately. 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 3,500 sqft, there are still 0 new listings below 2,000 sqft. Most buildings in this area are close to 1 stories. Most buildings in this market were built in 0 and are Class A.