Home > Research > U.S. Market Reports Detail

U.S. Market Reports

Washington, DC Market Reports

Washington Metropolitan Area Market

Average Asking Rent (Price/SF)          $38.11
Vacancy Rate (%)            16.2%
Net Absorption (SF)        440,765

After a banner first quarter performance, demand in the Washington area's office market moderated during the second quarter with a total of 440,765 square feet of net absorption, a performance similar to that of one year ago. The region experienced positive absorption across all three substate areas for a fourth consecutive quarter. The Washington area's overall vacancy rate declined 30 basis points from one year ago to 16.2% but edged up 50 basis points from the prior quarter, largely as a result of five office deliveries in the District.

District of Columbia Office Market

Average Asking Rent (Price/SF)       $54.92
Vacancy Rate (%)         12.9%
Net Absorption (SF)     151,778

The District of Columbia registered 151,778 square feet of net absorption in the second quarter of 2018, comparable to the 160,763 square feet absorbed in the first quarter. The vacancy rate rose 150 basis points in the second quarter to 12.9%, largely due to the delivery of five projects totaling 2.1 million square feet

Suburban Maryland Office Market

Average Asking Rent (Price/SF)  
    $27.48
Vacancy Rate (%)       15.5%
Net Absorption (SF)   248,026

Suburban Maryland's office market saw strong demand and declining vacancy in the second quarter of 2018. Net absorption totaled 248,026 square feet during the second quarter, while the vacancy rate dropped 130 basis points from one year ago to 15.5%, the lowest figure since the fourth quarter of 2012.

Northern Virginia Office Market

Average Asking Rent (Price/SF)      $32.08
Vacancy Rate (%)        19.0%
Net Absorption (SF)      40,961

Net absorption measured 40,961 square feet, following up on the 1.3 million square feet recorded in the previous quarter-the largest quarterly total posted in Northern Virginia in eight years. For the second consecutive quarter, overall vacancy remained below the 20% range, measuring 19.0% at second-quarter 2018.



Washington Metropolitan Area Office Market Report
2Q18
Download the PDF
District of Columbia Office Market Report
2Q18
Download the PDF
Northern Virginia Office Market Report
2Q18
Download the PDF
Suburban Maryland Office Market Report
2Q18
Download the PDF
Washington Metropolitan Area Multihousing Market Report
2Q18
Download the PDF
The Apartment Amenities Race
March 2018
Download the PDF
Paid Parking Arrives in Tysons
February 2018
Download the PDF
The Silver Line Effect
September 2017
Download the PDF
The Evolution of the Financial Services Industry
June 2017
Download the PDF
Washington Metro Area MegaTrends: A 2017 Update
March 2017
Download the PDF
State of U.S. Office Leasing Concessions and the Outlook For 12 Major Cities
December 2016
Download the PDF
Scale of Disruption - The Sharing Economy's Effect On U.S. Commercial Real Estate
October 2016
Download the PDF
The Impact of Office Space on Employee Productivity
February 2016
Download the PDF
Political Control - Who Runs Washington and the Impact On Office Space Demand
July 2016
Download the PDF

Local Market Contact:

General Research Inquiries: