On average, listings lease in the $50's per square foot per year. The Downtown Austin submarket is seeing a a boost in rates. In the last 3 months, the median rate increased $9 per sqft per year. That's a 21% increase in rent.
Compared to the rest of the Greater Austin market, the Downtown Austin region has more expensive rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 98 listings have been posted online, so you'll want to check back regularly for new listings. About 11% of the listings 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 available, so finding a space for a small business might be tough.
Even though the median size is 2,940 sqft, there are still 0 new listings below 2,000 sqft. Most buildings in this region are around 10 stories. Most buildings in this market were built in 1974 and are Class A.
This region is fairly equally mixed residential and commercial. Information is the dominant industry in this area. Commute by public transit is the most popular way to get to work amongst Downtown Austin occupants. Commuting close to 15 minutes a day is the norm for those who opt to reside in this part of town.