Annual quoted rent for downtown and suburban office real estate in the U.S. 2016-2023
Downtown offices in the United States achieved on average higher rents than suburban offices. In the fourth quarter of 2023, the annual quoted rent of Class A offices in downtown areas was 53.3 U.S. dollars per square foot, while for suburban offices it was 35 U.S. dollars per square foot. Despite a slight dip in 2021, office rents have overall increased from the historical average. Until 2027, office rents are forecast to grow slightly.
