The typical asking rate per listing is in the $30's per square foot per year. The Downtown Houston submarket is experiencing a decrease in rates. In the last 3 months, the median rate decreased $1 per sqft per year. That's a 3% decline in rent.
Compared to the rest of the Houston Metro market, the Downtown Houston region has greater rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 53 listings have been made available, so you'll want to check back regularly for new listings. About 140% of the listings in the Downtown Houston 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 on the market, so finding a space for a small business might be tough.
Even though the median size is 25,140 sqft, there are still 0 new availabilities below 2,000 sqft. Most properties in this area are close to 14 floors. Most buildings in this region were built in 1962 and are Class A.
Real estate is the dominant industry in this market. Commute by bike is the most popular way to get to work amongst Downtown Houston folk. Commuting around an hour a day is the norm for those who opt to reside in this part of town.