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.

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

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.

Among the ** markets with the largest industrial and logistics real estate inventory in the U.S., Orange County, CA, had the highest rental rate in the first quarter of 2025. The square footage rent of warehouse and distribution centers was ***** U.S. dollars, while for manufacturing sites it was ***** U.S. dollars. In the largest market, Chicago, IL, rents were significantly lower, at ****U.S. dollars.

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.

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 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.

Washington DC was the most expensive major city for office space, among those being considered for Amazon’s second headquarters, in the United States in 2017. Tenants paid, on average, 595 U.S. dollars per square foot for office space in that city, compared with 550 U.S. dollars and 486 U.S. dollars per square foot in Boston and Austin respectively.   Why is Washington DC so expensive? The GDP of the Washington metro area has steadily risen since 2001, which indicates that the economy is growing. This is not surprising, because it is the capital of the United States and, consequently, its political epicenter. All three branches of government, nearly 200 foreign embassies and several international organizations - such as the IMF, the World Bank and the National Geographic Society - are located there, which also means that it’s the logical place for lobbying firms and many financial services companies to operate from.

Further growth expected in Washington DC The future of the office real estate market in Washington DC looks promising, due to its political importance and strong economy. Office rents are forecast to grow by almost six percent by 2021, which is impressive given how high they already are. However, vacancy rates are also set to rise in the area, which means that more available office units will be unoccupied.

London West End - Bond Street is the most expensive location for prime high street rents in the UK, with prices reaching 2,250 British pounds per square foot. The West End was ranked ahead of the London City, which came in third. In Manchester, the annual costs of rental per square foot of prime retail real estate amounted to 225 British pounds. Retail warehouses Retail warehouses typically range from fifty thousand to hundreds of thousands of square feet. They are used for keeping and distributing inventory. Retail warehouses include loading docks, truck doors and large parking lots; also, they may contain a limited amount of office space. Prime retail warehouse properties belong to the wider category of industrial property, along with other real estate types, such as distribution buildings, showroom facilities, manufacturing buildings, cold storage facilities, telecom or data hosting centers, "flex" buildings denoting more than one industrial or commercial facility housed in the same building, and finally R&D buildings. Prime yields of high street retail across Europe Retail real estate prime yields in Europe were the lowest in Zurich, Switzerland, and the highest in Istanbul, Turkey in 2022. As could be expected, larger cities in Europe tended to produce lower yields, due to the lower risk associated with these markets. Locations with lower yields tend to have steady occupancy rates and rental growth.

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 29.57 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 24.76 U.S. dollars.

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

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.

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.

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.

Downtown offices in the United States achieved on average higher rents than suburban offices. In the fourth quarter of 2023, the annual quoted rent of Class A offices in downtown areas was 53.3 U.S. dollars per square foot, while for suburban offices it was 35 U.S. dollars per square foot. Despite a slight dip in 2021, office rents have overall increased from the historical average. Until 2027, office rents are forecast to grow slightly.

Performance measures dataset

The average asking rent for Class A office space in Midtown Manhattan was 82.74 U.S. dollars per square foot in the first quarter of 2024. It was above the Manhattan average of 80.38 U.S. dollars, but below that of Midtown South, which was the most expensive district at 103.42 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.

Rents in Germany continued to increase in all seven major cities in 2024. The average rent per square meter in Munich was approximately **** euros — the highest in the country. Conversely, Düsseldorf had the most affordable rent, at approximately **** euros per square meter. But how does renting compare to buying? According to the house price to rent ratio, house prices in Germany have risen faster than rents, making renting more affordable than buying. Affordability of housing in Germany In 2023, Germany was among the European countries with a relatively high house price to income ratio in Europe. The indicator compares the affordability of housing across OECD countries and is calculated as the nominal house prices divided by nominal disposable income per head, with 2015 chosen as a base year. Between 2012 and 2022, property prices in the country rose much faster than income, with the house price to income index peaking at *** index points at the beginning of 2022. Slower house price growth in the following years has led to the index declining, as incomes catch up. Nevertheless, homebuyers in 2024 faced significantly higher mortgage interest rates, contributing to a higher final cost. How much does buying a property in Germany cost? Just as with renting, Munich was the most expensive city for newly built apartments. In 2024, the cost per square meter in Munich was almost ***** euros pricier than in the runner-up city, Frankfurt. Detached and semi-detached houses are usually more expensive. The price gap between Munich and the second most expensive city, Stuttgart, was nearly ***** euros per square meter.

The average monthly asking rent per square foot of shopping center real estate in the leading markets in Texas increased between 2020 and 2024. Although this trend was observed in all four major markets, Austin recorded the highest rent in 2024, at 30.5 U.S. dollars per square foot. This was higher than both the national average and the average for the South region.

The average asking rent of industrial and logistics real estate in Canada was between 10 and 22 Canadian dollars per square foot in the first quarter of 2023. Toronto, which was the market with most inventory, had monthly rent of 18.45 Canadian dollars per square foot, making it the third most expensive market.