On average, listings lease in the $20's per square foot per year. The Elmwood submarket is going through a an increase in rates. In the last 3 months, the median rate increased $1 per sqft per year. That's a 6% increase in rent.
Compared to the rest of the Greater New Orleans Region market, the Elmwood region has higher rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 11 listings have been made available, which means new availabilities might be going fast. 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.
Even though the median size is 5,400 sqft, there are still 0 new listings below 2,000 sqft. Most buildings in this area are close to 2 floors. Most buildings in this region were built in 0 and are Class Class A.