The national office vacancy rate was 17.7% in July 2026, down 130 basis points year-over-year, per Yardi Matrix data in the monthly national office report. Average listing rates reached $33.58 per square foot (up 2.6% YoY), with about 29.5M sq ft under construction. Austin and Houston topped 20% vacancy while Manhattan and Miami were the tightest.
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US office vacancy holds at 17.7% as listing rents hit $33.58 per sq ft
Why this matters for founders
Founders shopping for office space still hold leverage: push for concessions and shorter terms in soft metros like Austin and Houston, but expect tighter negotiations in Manhattan and Miami.
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