The typical asking rate per listing is in the $40's per square foot per year. The Downtown Austin submarket is seeing a an increase in rates. In the last 3 months, the median rate went up $48 per sqft per year.
Compared to the rest of the Greater Austin market, the Downtown Austin submarket has greater rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 79 listings have been made available, so you'll want to check back regularly for new listings. About 96% of the available space in the Downtown Austin are subleases, so you might be able to sign a shorter term by taking over a previous lease. 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 5,300 sqft, there are still 0 leases below 2,000 sqft. Most buildings in this market are approximately 9 floors. Most buildings in this region were built in 1974 and are Class A.
This area is fairly equally mixed residential and commercial. Information is the dominant industry in this area. 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.