Austin’s downtown office rent growth among highest in U.S. submarkets

AUSTIN – Only six submarkets—all in the San Francisco Bay area—have had higher rent growth than Austin’s Central Business District since 2007, according to CoStar Group Inc.

Over the last 13 years, the metro’s central business district saw an 80 percent increase in office rents downtown.

In the last year, it had 5.2 percent rent growth because of low vacancies and a low unemployment rate of 2.6 percent.

Because of these factors, Austin is currently building the most office space in the country based on percentage of inventory.

Ten million sf of office space is under construction, which is more than 9 percent of the total inventory.

The Real Estate Center has more office news for Austin-Round Rock:

• ​Texas Quarterly Commercial R​eport
• Austin-area office news​
• "Positive outlook for Austin office market in 2020"