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An NAR analysis of CoStar data shows nearly two thirds of the top 200 metro areas by population have seen office vacancy rates increase since 2019. But smaller markets continue to outperform the country. The best-performing markets in 2022 were Tuscaloosa, Ala., Laredo, Texas, and Huntington, W. Va., all with office vacancy rates below 2%.
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Office Vacancies
Office Vacancies
3.0%
Percentage point increase in U.S. office vacancies since 2019 due to the effects of the pandemic, remote and hybrid work, layoffs, and higher interest rates.
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