Office Vacancy Rates
Vacancy rates in Houston’s office market translate into significant space availability at highly favorable terms.
Published on 3/22/23
- Workplace occupancy stands at 60% in Houston, one of the highest rates within primary office markets according to Kastle occupancy data. Still, the office market has been unable to see positive results from this impact with overall vacancy at the end of the fourth quarter of ’22 at 25.0 percent. Vacancy in the Central Business District (CBD) was 31.2 percent, while the suburbs had a vacancy rate of 23.7 percent. Houston’s 135 msf of Class A space was 72.5 percent leased.
- Overall sublease space in the Houston market as of Q4/22 was over 8.1 msf. This represents 11 percent of total available space, which is lower than its ’16 peak of 11.0 msf or 25 percent of total availability.
- A total of 3.2 million square feet of office space was under construction as of Q4/22.
