On average, listings lease in the $50's per square foot per year. The Downtown Austin submarket is experiencing a an increase in rates. In the last 3 months, the median rate went up $9 per sqft per year. That's a 21% increase in rent.
Compared to the rest of the Greater Austin market, the Downtown Austin submarket has greater rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 83 listings have been listed, so you'll want to check back regularly for new listings. About 12% of the available space in the Downtown Austin are subleases, so you might be able to find a shorter term or below market rent. 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 3,520 sqft, there are still 0 leases below 2,000 sqft. Most buildings in this market are close to 10 floors. 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 region. Commute by public transit is the most popular way to get to work amongst Downtown Austin residents. Commuting approximately 15 minutes a day is the norm for those who opt to reside in this part of town.