The typical asking rate per listing is in the $40's per square foot per year. The Downtown Austin submarket is seeing a decline in rates. In the last 3 months, the median rate fell $1 per sqft per year. That's a 3% decrease in rent.
Compared to the rest of the Greater Austin market, the Downtown Austin submarket has more expensive rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 58 listings have been posted online, so you'll want to check back regularly for new listings. About 21% of the available leases in the Downtown Austin are subleases, so you might be able to snag a great spot on a short term. 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 4,550 sqft, there are still 0 new listings below 2,000 sqft. Most properties in this market are close to 12 stories. Most buildings in this area were built in 1975 and are Class A.
This region 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 folk. Commuting close to 15 minutes a day is the norm for those who opt to reside in this part of town.