Largest Percentage Point Changes in Office Vacancy Rates – Major U.S. Cities – Third Quarter 2006

Alex Carrick -- December 18, 2006

New Orleans, one year after Hurricane Katrina, has had the most dramatic improvement (i.e., decline) in its downtown office vacancy rate year over year, but the level still remains exceptionally high. Austin, Ft. Lauderdale, Phoenix, Nashville and Salt Lake City have also had higher than 3.0 percentage point year-over-year decreases in their downtown vacancy rates. (Austin’s downtown vacancy rate still remains over 20%, however.) As for year-over-year increases in vacancy rates, Cincinnati and Tampa have had the worst records downtown. Previous quarter to latest quarter, Las Vegas has had the largest increase in vacancy rates both downtown and in the suburbs.