On average, listings lease in the $20's per square foot per year. The Elmwood Business District region is seeing a a rise in rates. In the last 3 months, the median rate increased $1 per sqft per year. That's a 3% increase in rent.
Compared to the rest of the Greater New Orleans Region market, the Elmwood Business District region has greater rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 12 listings have been listed, which means office spaces most likley are leasing quickly. 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 3,450 sqft, there are still 0 office spaces below 2,000 sqft. Most properties in this market are close to 2 floors. Most buildings in this region were built in 0 and are Class Class A.
Education is the dominant industry in this market. Commute by walking is the most popular way to get to work amongst Elmwood Business District occupants. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.