On average, listings lease in the $60's per square foot per year. The Financial District submarket is going through a decline in rates. In the last 3 months, the median rate decreased $13 per sqft per year. That's a 17% decline in rent.
Compared to the rest of the Greater Boston market, the Financial District submarket has greater rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 36 listings have been made available, which means office spaces are probably going fast. You'll want to be prepared to make an offer immediately. About 6% of the listings in the Financial District are subleases, so you will probably need to consider the implications of signing a direct lease with the building. 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 5,270 sqft, there are still 0 new listings below 2,000 sqft. Most properties in this area are approximately 12 stories. Most buildings in this region were built in 1926 and are Class A.
Education is the dominant industry in this market. Commute by walking is the most popular way to get to work amongst Financial District residents. Commuting around an hour a day is the norm for those who opt to reside in this part of town.