On average, listings lease in the $70's per square foot per year. The Back Bay region is experiencing a decline in rates. In the last 3 months, the median rate decreased $1 per sqft per year. That's a 2% decline in rent.
Compared to the rest of the Greater Boston market, the Back Bay region has greater rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 19 listings have been listed, which means spaces are probably going fast. You'll want to be prepared to make an offer immediately. 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 9,800 sqft, there are still 0 spaces below 2,000 sqft. Most properties in this region are around 6 floors. Most buildings in this region were built in 1925 and are Class A.
A large portion of this region is residential, but there's plenty of office_space. Arts, entertainment, and restaurants are the dominant industries in this market. Most of the occupants of Back Bay work from home. Commuting more than an hour and a half a day is the norm for those who opt to reside in this part of town.