On average, listings lease in the $20's per square foot per year. The Elmwood Business District submarket is seeing a a boost in rates. In the last 3 months, the median rate went up $1 per sqft per year. That's a 3% rise in rent.
Compared to the rest of the Greater New Orleans Region market, the Elmwood Business District region has greater rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 15 listings have been listed, which means office spaces might be going fast. You'll want to be prepared to tour spaces as quick as possible. About 7% of the available space in the Elmwood Business District are subleases, so you will probably have to consider a longer term lease. 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 3,200 sqft, there are still 0 office spaces below 2,000 sqft. Most buildings in this region are around 2 floors. 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 residents. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.