On average, listings lease in the $20's per square foot per year. The Elmwood submarket is experiencing a decrease in rates. In the last 3 months, the median rate decreased $1 per sqft per year. That's a 5% decrease in rent.
Compared to the rest of the Greater New Orleans Region market, the Elmwood submarket has higher rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 8 listings have been made available, which means spaces most likley are leasing quickly. You'll want to be prepared to tour spaces as quick as possible. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 2,030 sqft. Most buildings in this market are close to 2 floors. Most buildings in this region were built in 0 and are Class Class A.