Most listings are in the $20's per square foot per year. The Elmwood Business District region is seeing a decline in rates. In the last 3 months, the median rate fell $1 per sqft per year. That's a 3% decline 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, 7 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 14% of the office spaces in the Elmwood Business District 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 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 office spaces below 2,000 sqft. Most buildings in this area are around 2 stories. Most buildings in this area were built in 0 and are Class Class A.
Education is the dominant industry in this region. Commute by walking is the most popular way to get to work amongst Elmwood Business District occupants. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.