Office Vacancy Rates in Major U.S. Cities – Fourth Quarter 2006

Alex Carrick -- February 23, 2007

The U.S. national downtown (i.e., central business district) office vacancy rate in fourth-quarter 2006 improved slightly to 14.8% from 14.9% in second-quarter 2006. The year-ago level (fourth-quarter 2005) was 15.6%. The national suburban vacancy rate also fell marginally to 16.4% in fourth-quarter 2006 versus the previous quarter’s 16.5%. The year-ago (fourth-quarter 2005) suburban vacancy rate was 17.0%. Overall, the latest quarter metro-wide vacancy rate was 15.3% (down from 15.5% in the previous quarter and 16.2% a year ago).