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Connecticut
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VACANCY
Apartment
Average Vacancy Rate 7.4%
- No change since year-end 2020.
- Among the 10 highest vacancies nationally.
- Expected to finish 2021 at 7.7%.
Distribution / Warehousing
Average Vacancy Rate 9.4%
- Drifted downward by 30 basis points.
- Expected to finish 2021 at 9.2%.
Office
Average Vacancy Rate 25.2%
- Drifted downward by 10 basis points.
- Among the 10 highest vacancies nationally.
- Expected to finish 2021 at 26.6%.
Retail
Average Vacancy Rate 6.9%
- Lowest in the Northeast region, eighth lowest in the nation.
- Declined by 50 basis points.
- Lowest level since Q3 2018.
RENT
Apartment
Average Asking Rent $2,171
- Up 0.3% from year-end 2020.
- Expected to finish 2021 at $2,191.
Distribution / Warehousing
Average Asking Rent $8.09
- Up 0.5% from year-end 2020.
- Expected to finish 2021 at $8.18.
Office
Average Asking Rent $35.70
- Flat since year-end 2020.
- Expected to finish 2021 at $34.79.
Retail
Average Asking Rent $29.38
- Flat since year-end 2020.
- Expected to finish 2021 at $27.93.
VACANCY
Apartment
Average Vacancy Rate 5.0%
- Increased by 90 basis points.
- Highest level since Q2 2010.
- Expected to finish 2021 at 4.8%.
Distribution / Warehousing
Average Vacancy Rate 14.1%
- Fell by 140 basis points.
- Among the 20 highest vacancies nationally.
- Expected to finish 2021 at 14.1%.
Office
Average Vacancy Rate 18.1%
- Drifted upward by 10 basis points.
- Expected to finish 2021 at 19.6%.
Retail
Average Vacancy Rate 10.8%
- Drifted downward by 30 basis points.
- Expected to finish 2021 at 12.6%.
RENT
Apartment
Average Asking Rent $1,272
- Up 0.7% from year-end 2020.
- Fastest rate of increase in six quarters.
- Expected to finish 2021 at $1,294.
Distribution / Warehousing
Average Asking Rent $5.52
- Up 0.2% from year-end 2020.
- Expected to finish 2021 at $5.58.
Office
Average Asking Rent $21.76
- Down 0.6% from year-end 2020.
- Expected to finish 2021 at $21.35.
Retail
Average Asking Rent $18.75
- Down 0.4% from year-end 2020.
- Expected to finish 2021 at $17.83.
VACANCY
Apartment
Average Vacancy Rate 4.9%
- Drifted upward by 10 basis points.
- Expected to finish 2021 at 5.1%.
Distribution / Warehousing
Average Vacancy Rate 11.6%
- Drifted downward by 10 basis points.
- Expected to finish 2021 at 11.5%.
Office
Average Vacancy Rate 20.3%
- Drifted upward by 40 basis points.
- Highest level since Q3 2003.
- Expected to finish 2021 at 21.7%.
Retail
Average Vacancy Rate 15.9%
- No change since year-end 2020.
- Among the 10 highest vacancies nationally.
- Expected to finish 2021 at 17.6%.
RENT
Apartment
Average Asking Rent $1,391
- Fastest rent growth in the Northeast region, fourth most rapid in the nation.
- Fastest rate of increase in seven quarters.
- Expected to finish 2021 at $1,410.
Distribution / Warehousing
Average Asking Rent $6.12
- Up 0.5% from year-end 2020.
- Expected to finish 2021 at $6.19.
Office
Average Asking Rent $21.63
- Up 0.1% from year-end 2020.
- Expected to finish 2021 at $21.40.
Retail
Average Asking Rent $17.57
- Up 0.1% from year-end 2020.
- Expected to finish 2021 at $16.86.
VACANCY
Distribution / Warehousing
Average Vacancy Rate 10.5%
- Drifted upward by 10 basis points.
- Expected to finish 2019 at.
RENT
Distribution / Warehousing
Average Asking Rent $6.78
- Up 0.1% from year-end 2018.
- Has risen for six consecutive quarters.
- Expected to finish 2019 at.