2019 National Office Occupancy

Year-over-year office vacancy rate percentages compared nationally and by region, updated quarterly.
Source: CoStar Group Inc.

On an annual basis, office vacancy rates dropped across most regions, with the West seeing the biggest decline (down 50 basis points), followed by the Midwest and the Northeast (down by 10 basis points each), while office vacancies in the South remained flat. National office vacancy rates decreased by 10 basis points compared to the first quarter of 2018 and dropped by 20 basis points compared to the same interval in 2017. Vacancy rates for the first quarter of 2020 are expected to slightly inflate in every region, increasing by 40 basis points on a national level. Rates in the West are projected to increase the most, up 60 basis points, followed by the Northeast (up 40 basis points). Vacancy rates in the Midwest and the South are projected to grow by 30 basis points each.

—Posted on May 29, 2019