Office Vacancy Rates
Published on 2/10/21
Houston Office Vacancy Rates
- In Houston―the nation’s sixth-largest office market with 220.5 million square feet (msf) of net rentable area―overall vacancy at the end of the fourth quarter of ’20 stood at 22.3 percent. Vacancy in the Central Business District (CBD) was 23.2 percent, while the suburbs had a vacancy rate of 22.0 percent. Houston’s 121.1 msf of Class A space was 77.9 percent leased.
- Overall sublease space in the Houston market as of Q4/20 was over 6.4 msf. This represents 11 percent of total available space, which is considerably lower than its ’16 peak of 11.0 msf or 25 percent of total availability.
- A total of 4.1million square feet of office space was under construction as of Q4/20.