On average, listings lease in the $20's per square foot per year. The Elmwood submarket is seeing a a rise in rates. In the last 3 months, the median rate went up $24 per sqft per year.
Compared to the rest of the Greater New Orleans Region market, the Elmwood submarket has more expensive rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 12 listings have been listed, which means listings are probably going fast. You'll want to be prepared to tour spaces as quick as possible. About 125% of the listings in the Elmwood are subleases, so you might be able to find a shorter term or below market rent. 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 18,400 sqft, there are still 0 listings below 2,000 sqft. Most properties in this market are approximately 2 floors. Most buildings in this market were built in 0 and are Class A.