In District of Columbia, the average rent per square foot was 2.95 U.S. dollars in 2018, whereas renters in Oregon were expected to pay half as much in rent per square foot. DC was the most expensive state for renters, followed by New York, Hawaii, Massachusetts and California.

Why is DC so expensive?

District of Columbia is the center of the U.S. political system with all three branches of federal government sitting there: Congress (legislative), President (executive) and the Supreme Court (judicial). The above average household incomes of its residents mean that high rents are still sustainable for the rental market.

Limited space in DC

DC has the largest share of apartment dwellers in the country. This is most likely due to limited space, as the federal district has a much higher population density than the states. The political importance of DC and the high population density suggest that the federal district is likely to retain its spot as the most expensive rental market in the future.

Rents for industrial real estate in the U.S. have increased since 2017, with flexible/service space reaching the highest price per square foot in 2024. In just a year, the cost of, flex/service space rose by nearly *****U.S. dollars per square foot. Manufacturing facilities, warehouses, and distribution centers had lower rents and experienced milder growth. Los Angeles, Orange County, and Inland Empire, California, are some of the most expensive markets in the country. Office real estate is pricier Industrial real estate is far from being the most expensive commercial property type. For instance, average rental rates in major U.S. metros for office space are much higher than those for industrial space. This is most likely because office units are generally located in urban areas where there is limited space and thus higher demand, whereas industrial units are more suited to the outskirts of such urban areas. Industrial units, such as warehouses or factories, require much more space because they need to house large, heavy equipment or serve as a storage unit for future shipments. Big-box distribution space is gaining in importance Warehouses and distribution may currently command the lowest average rent per square foot among industrial space types, but the growing popularity of the asset class has earned it considerable gains over the past years. In 2021 and 2022, high occupier demand and insufficient supply led to soaring taking rent of big-box buildings. During that time, the vacancy rate of distribution centers fell below ****percent. The development of industrial and logistics facilities has accelerated since then, with the new supply coming to market, causing the vacancy rate to increase and the pressures on rent to ease.

Displacement risk indicator classifying census tracts according to apartment rent prices in census tracts. We classify apartment rent along two dimensions:The median rents within the census tract for the specified year, balancing between nominal rental price and rental price per square foot.The change in median rent price (again balanced between nominal rent price and price per square foot) from the previous year.Note: Median rent calculations include market-rate and mixed-income multifamily apartment properties with 5 or more rental units in Seattle, excluding special types like student, senior, corporate or military housing.Source: Data from CoStar Group, www.costar.com, prepared by City of Seattle, Office of Planning and Community Development

Malls had the most expensive rental space among the different types of retail real estate in the United States in 2023. As of the fourth quarter of the year, the average rent in malls was ***** U.S. dollars per square foot, compared to ***** U.S. dollars for all retail. General retail space, defined as single-tenant freestanding commercial buildings with parking, such as drugstores, grocery stores, and street front urban retail stores, had some of the lowest vacancy rates.

The median rents within the census tract for the specified year, balancing between nominal rental price and rental price per square foot.The change in median rent price (again balanced between nominal rent price and price per square foot) from the previous year.Note: Median rent calculations include market-rate and mixed-income multifamily apartment properties with 5 or more rental units in Seattle, excluding special types like student, senior, corporate or military housing.

Manhattan, NY, was the market where renting an office was most expensive in the United States in 2023. The average annual quoted square footage rent of office space was close to ** U.S. dollars in the fourth quarter of the year. Only one other market - East Bay - came close to this rental rate. In Washington D.C., the market with the second-largest inventory of class A downtown offices, the annual rent amounted to approximately ** U.S. dollars per square foot. Since the onset of the coronavirus pandemic, the office real estate sector has been suffering an increase in office vacancies, affecting both downtown and suburban properties.

The average monthly asking rent per square foot of shopping center real estate in the United States increased between 2020 and 2025. This trend was observed in all regions, with the West seeing the highest rents at ***** U.S. dollars per square foot as of the first quarter of 2025. On average, asking rent for all classes across the country stood at ***** U.S. dollars.

The average asking rent for Class A office space in Midtown Manhattan was ***** U.S. dollars per square foot in the first quarter of 2024. It was above the Manhattan average of ***** U.S. dollars, but below that of Midtown South, which was the most expensive district at ****** U.S. dollars per square foot. What is Class A real estate?Class A real estate refers to the best properties in terms of appearance, age, quality of infrastructure and location. These properties usually command the highest rental rates, due to their high quality. In the U.S., Manhattan has the most expensive rents for Class A offices.Midtown vs Midtown SouthMidtown Manhattan contains the Empire State Building, MoMA, Grand Central Station, and the United Nations Headquarters. The most expensive submarket there was Plaza District in 2024. Meanwhile, Midtown South is home to Madison Square Garden, Pennsylvania Station, Hudson Yards, and Koreatown. In 2024, the most expensive submarket there was Hudson Yards, followed by Chelsea and Hudson Square.

Zillow Properties Listing dataset to access detailed real estate listings, including property prices, locations, and features. Popular use cases include market analysis, property valuation, and investment decision-making in the real estate sector.

Use our Zillow Properties Listing Information dataset to access detailed real estate listings, including property features, pricing trends, and location insights. This dataset is perfect for real estate agents, investors, market analysts, and property developers looking to analyze housing markets, identify investment opportunities, and assess property values.

Leverage this dataset to track pricing patterns, compare property features, and forecast market trends across different regions. Whether you're evaluating investment prospects or optimizing property listings, the Zillow Properties dataset offers essential information for making data-driven real estate decisions.

Dataset Features

• zpid: Unique property identifier assigned by Zillow.
• city: The name of the city where the property is located.
• state: The state in which the property is located.
• homeStatus: Indicates the current status of the property
• address: The full address of the property, including street, city, and state.
• isListingClaimedByCurrentSignedInUser: This field shows if the current Zillow user has claimed ownership of the listing.
• isCurrentSignedInAgentResponsible: This field indicates whether the currently signed-in real estate agent is responsible for the listing.
• bedrooms: Number of bedrooms in the property.
• bathrooms: Number of bathrooms in the property.
• price: Current asking price of the property.
• yearBuilt: The year the home was originally constructed.
• streetAddress: Specific street address (usually excludes city/state/zip).
• zipcode: The postal ZIP code of the property.
• isCurrentSignedInUserVerifiedOwner: This field indicates if the signed-in user has verified ownership of the property on Zillow.
• isVerifiedClaimedByCurrentSignedInUser: Indicates whether the user has claimed and verified the listing as the current owner.
• listingDataSource: The original source of the listing. Important for data lineage and trustworthiness.
• longitude: The longitudinal geographic coordinate of the property.
• latitude: The latitudinal geographic coordinate of the property.
• hasBadGeocode: This indicates whether the geolocation data is incorrect or problematic.
• streetViewMetadataUrlMediaWallLatLong: A URL or reference to the Street View media wall based on latitude and longitude.
• streetViewMetadataUrlMediaWallAddress: A similar URL reference to the Street View, but based on the property’s address.
• streetViewServiceUrl: The base URL to Google Street View or similar services. Enables interactive visuals of the property’s surroundings.
• livingArea: Total internal living area of the home, typically in square feet.
• homeType: The category/type of the home.
• lotSize: The size of the entire lot or land the home is situated on.
• lotAreaValue: The numerical value representing the lot area is usually tied to a measurement unit.
• lotAreaUnits: Units in which the lot area is measured (e.g., sqft, acres).
• livingAreaValue: The numeric value of the property's interior living space.
• livingAreaUnitsShort: Abbreviated unit for living area (e.g., sqft), useful for compact displays.
• isUndisclosedAddress: Boolean indicating if the full property address is hidden, typically used for privacy reasons.
• zestimate: Zillow’s estimated market value of the home, generated via its proprietary model.
• rentZestimate: Zillow’s estimated rental price per month, is helpful for rental market analysis.
• currency: Currency used for price, Zestimate, and rent estimate (e.g., USD).
• hideZestimate: Indicates whether the Zestimate is hidden from public view.
• dateSoldString: The date when the property was last sold, in string format (e.g., 2022-06-15).
• taxAssessedValue: The most recent assessed value of the property for tax purposes.
• taxAssessedYear: The year in which the property was last assessed.
• country: The country where the property is located.
• propertyTaxRate: The most recent tax rate.
• photocount: This column provides a photo count of the property.
• isPremierBuilder: Boolean indicating whether the builder is listed as a premier (trusted) builder on Zillow.
• isZillowOwned: Indicates whether the property is owned or managed directly by Zillow.
• ssid: A unique internal Zillow identifier for the listing (not to be confused with network SSID).
• hdpUrl: URL to the home’s detail page on Zillow (Home Details Page).
• tourViewCount: Number of times users have viewed the property tour.
• hasPublicVideo: This

Graph and download economic data for Housing Inventory: Median Listing Price per Square Feet in Texas (MEDLISPRIPERSQUFEETX) from Jul 2016 to Jun 2025 about square feet, listing, TX, median, price, and USA.

The annual taking rent of industrial big box buildings has been on an upwards trend since 2013, except for a slight decrease in 2021. In 2023, a square foot of big box space cost 6.5 U.S. dollars, up from 3.26 U.S. dollars in 2013. Big-box refers to large industrial buildings used for distribution. Despite the increase in rental rates, Dallas had lower than the average big box rent in North America.

The prime rent for large warehouses over 100,000 square feet in the UK was 11 British pounds per square foot in 2023. However, in London, the South East, and East, rents were twice higher. Conversely, the North East was the region with the most affordable warehouse rent, with the prime rent per square foot amounting to 7.75 British pounds. What is the rental price for warehouses in Europe? The UK has some of the most expensive warehouse rents in Europe. Other key markets that fetched high prices were Oslo, Helsinki, Dublin, and Munich, with rents ranging between 100 and 200 euros per square meter. In Eastern Europe, prices were notably lower, with markets such as Katowice, Warsaw, and Bucharest, reporting rents below 60 euros per square meter. How are warehouse rents expected to develop in the next years? The industrial and logistics real estate sector has grown dramatically since the COVID-19 pandemic. Although growth is forecast to slow, rents in the sector are expected to continue to increase until 2025. Industrial real estate is anticipated to outperform offices and retail not only by rental growth but also in terms of capital value increase.

The Central Business District (CBD) was the most expensive market for office real estate rental in Houston, Texas in the second quarter of 2024. The average direct asking rental rate of office space was approximately 43 U.S. dollars per square feet, compared to 17.5 U.S. dollars per square feet in FM 1960. Among the major office markets in Texas, Dallas had the most inventory, while Austin had the highest rental rates.

In Texas, Austin was the most expensive market for office space in the second quarter of 2024. The rental rate of class A offices was nearly 52 U.S. dollars per square foot, compared to 26 U.S. dollars per square foot for El Paso. Dallas, which is the largest office real estate market in the state, had rental rates of about 30.3 U.S. dollars for all classes and 35.7 U.S. dollars for class A offices. In the United States, Manhattan, San Francisco, and Silicon Valley-South Bay fetch the highest office rental rates.

Performance measures dataset

The Central Business District (CBD) was the most expensive submarket for office real estate rental in Austin, Texas in the second quarter of 2024. The Class A office space rental rate was approximately 66.2 U.S. dollars per square feet, compared to 29.9 U.S. dollars per square foot in the South market. Among the major office markets in Texas, Dallas had the most inventory, while Austin had the highest rental rates.

The average Class A asking rent for office real estate in Downtown Manhattan in the fourth quarter of 2023 varied significantly among submarkets. Tribeca had the highest average Class A rent of 158.63 U.S. dollars per square foot. Renting a square foot of Class A property in Tribeca cost more than double the cost in all the other submarkets in Downtown Manhattan. Meanwhile, the Insurance District was the only district where Class A office rents rose between 2022 and 2023.

In the UK, renting an office space was the most expensive in London West End in 2024. In the third quarter of the year, the square foot cost of a prime office space cost 142.5 British pounds. In Leeds, renting an office was much more affordable, at 40 British pounds per square foot.

The average annual rent for manufacturing space in Houston, Texas, declined in 2024, after rising for two consecutive years. In the first quarter of 2024, the rental cost amounted to **** U.S. dollars per square foot. That was below the average rent for manufacturing space in the United States.

San Francisco's office rental market showcases significant variation across its submarkets, with Mission Bay commanding the highest rates at *** U.S. dollars per square foot in the third quarter of 2024. This premium location demanded nearly double the city's average rate, highlighting the stark differences in desirability and demand within the city's commercial real estate landscape. Economic powerhouse The San Francisco Bay Area's economic prowess is evident in its impressive economic growth over the past 20 years. The city's strength is fueled by the presence of major technology companies and a thriving startup ecosystem. The region's economic significance extends beyond local boundaries, contributing substantially to California's position as the state with the highest GDP in the country. This economic vitality helps explain the sustained demand for office space across various San Francisco submarkets. Offices: global context and market trends In a global context, San Francisco's office rental rates are relatively high but not the most expensive worldwide. In 2024, London, Hong Kong, and New York emerged as the top three most expensive office rental markets globally. Over the past five years, San Francisco has experienced a decline in office rents. This trend aligns with broader shifts in the office real estate sector, influenced by the COVID-19 pandemic and the rise of hybrid work. Despite these challenges, certain San Francisco submarkets like Mission Bay and The Presidio continue to command premium rates, reflecting their enduring appeal to commercial tenants.