On average, listings lease in the $40's per square foot per year. The Downtown Austin region is experiencing a decline in rates. In the last 3 months, the median rate decreased $12 per sqft per year. That's a 23% decrease in rent.
Compared to the rest of the Greater Austin market, the Downtown Austin region has greater rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 79 listings have been posted online, so you'll want to check back regularly for new listings. About 13% of the available leases in the Downtown Austin are subleases, so you might be able to sign a shorter term by taking over a previous lease. 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 4,030 sqft, there are still 0 listings below 2,000 sqft. Most properties in this area are around 10 stories. Most buildings in this region were built in 1974 and are Class A.
This market is fairly equally mixed residential and commercial. Information is the dominant industry in this region. Commute by public transit is the most popular way to get to work amongst Downtown Austin residents. Commuting approximately 15 minutes a day is the norm for those who opt to reside in this part of town.