Insights
Pennsylvania
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BACK TO INSIGHTSEXPLORE 7 Pennsylvania MARKETSToggle markets
VACANCY
Distribution / Warehousing
Average Vacancy Rate 6.3%
- Tenth lowest in the nation, and the second in the Northeast region, behind only New York Metro.
- Drifted downward by 10 basis points.
- Expected to finish 2019 at.
RENT
Distribution / Warehousing
Average Asking Rent $6.26
- Up 0.3% from year-end 2018.
- Expected to finish 2019 at.
VACANCY
Distribution / Warehousing
Average Vacancy Rate 17.0%
- Increased by 100 basis points.
- Among the 10 highest vacancies nationally.
- Expected to finish 2019 at.
RENT
Distribution / Warehousing
Average Asking Rent $5.54
- Flat since year-end 2018.
- Expected to finish 2019 at.
VACANCY
Apartment
Average Vacancy Rate 4.9%
- Drifted downward by 10 basis points.
- Expected to finish 2020 at 6.8%.
Distribution / Warehousing
Average Vacancy Rate 9.7%
- Rose by 50 basis points.
- Highest level since year-end 2016.
- Expected to finish 2020 at 11.4%.
Flex / R&D
Average Vacancy Rate 10.3%
- Increased by 60 basis points.
- Highest level since Q1 2015.
- Expected to finish 2020 at 10.9%.
Office
Average Vacancy Rate 21.7%
- Drifted downward by 10 basis points.
- Among the 20 highest vacancies nationally.
- Expected to finish 2020 at 24.0%.
Retail
Average Vacancy Rate 8.6%
- Drifted downward by 10 basis points.
- Among the 20 lowest vacancies nationally.
- Expected to finish 2020 at 10.9%.
RENT
Apartment
Average Asking Rent $2,061
- Down 0.8% from Q1 2020.
- Expected to finish 2020 at $2,037.
Distribution / Warehousing
Average Asking Rent $6.67
- Down 0.1% from Q1 2020.
- Expected to finish 2020 at $6.38.
Flex / R&D
Average Asking Rent $9.41
- Down 0.1% from Q1 2020.
- Expected to finish 2020 at $8.92.
Office
Average Asking Rent $29.95
- Down 0.4% from Q1 2020.
- Expected to finish 2020 at $29.50.
Retail
Average Asking Rent $29.70
- Down 0.5% from Q1 2020.
- Expected to finish 2020 at $27.40.
VACANCY
Apartment
Average Vacancy Rate 4.0%
- Drifted upward by 10 basis points.
- Among the 20 lowest vacancies nationally.
- Expected to finish 2020 at 5.2%.
Distribution / Warehousing
Average Vacancy Rate 7.9%
- Drifted downward by 20 basis points.
- Expected to finish 2020 at 9.6%.
Flex / R&D
Average Vacancy Rate 10.3%
- Drifted upward by 20 basis points.
- Expected to finish 2020 at 11.5%.
Office
Average Vacancy Rate 14.1%
- Tenth lowest in the nation and the fourth lowest in the Northeast.
- Has risen for seven consecutive quarters.
- Highest level since year-end 2013.
Retail
Average Vacancy Rate 11.4%
- Drifted upward by 20 basis points.
- Expected to finish 2020 at 14.1%.
RENT
Apartment
Average Asking Rent $1,450
- Fastest rent growth in the Northeast region, tenth most rapid in the nation.
- Has risen in every quarter since Q1 2010.
- Expected to finish 2020 at $1,415.
Distribution / Warehousing
Average Asking Rent $5.01
- Fastest rent growth in the Northeast region, twelfth most rapid in the nation.
- Expected to finish 2020 at $4.81.
Flex / R&D
Average Asking Rent $7.81
- Down 0.3% from Q1 2020.
- Expected to finish 2020 at $7.50.
Office
Average Asking Rent $28.41
- Down 0.3% from Q1 2020.
- Expected to finish 2020 at $27.72.
Retail
Average Asking Rent $21.57
- Down 0.5% from Q1 2020.
- Expected to finish 2020 at $20.21.
VACANCY
Apartment
Average Vacancy Rate 3.6%
- Eighth lowest in the nation and the third lowest in the Northeast.
- No change since Q1 2020.
- Lowest level since year-end 2014.
Distribution / Warehousing
Average Vacancy Rate 8.8%
- Drifted downward by 20 basis points.
- Expected to finish 2020 at 10.7%.
Flex / R&D
Average Vacancy Rate 18.3%
- Highest in the nation.
- Increased by 100 basis points.
- Expected to finish 2020 at 19.6%.
Office
Average Vacancy Rate 19.3%
- Drifted downward by 10 basis points.
- Expected to finish 2020 at 21.7%.
Retail
Average Vacancy Rate 11.5%
- Has risen for six consecutive quarters.
- Highest level since Q2 2007.
- Expected to finish 2020 at 13.8%.
RENT
Apartment
Average Asking Rent $1,151
- Up 0.2% from Q1 2020.
- Has risen for ten consecutive quarters.
- Expected to finish 2020 at $1,124.
Distribution / Warehousing
Average Asking Rent $4.76
- Down 0.4% from Q1 2020.
- Expected to finish 2020 at $4.49.
Flex / R&D
Average Asking Rent $8.59
- Fifth fastest rent growth in the nation, and the second in the Northeast region, behind only Long Island.
- Has risen in every quarter since Q1 2014.
- Expected to finish 2020 at $8.00.
Office
Average Asking Rent $22.89
- Up 0.1% from Q1 2020.
- Expected to finish 2020 at $22.58.
Retail
Average Asking Rent $18.06
- Down 0.6% from Q1 2020.
- Expected to finish 2020 at $17.20.
VACANCY
Apartment
Average Vacancy Rate 3.7%
- Lowest in the South Atlantic region, twelfth lowest in the nation.
- Drifted upward by 10 basis points.
- Expected to finish 2020 at 4.9%.
Distribution / Warehousing
Average Vacancy Rate 10.0%
- Drifted upward by 40 basis points.
- Highest level since Q3 2016.
- Expected to finish 2020 at 11.4%.
Flex / R&D
Average Vacancy Rate 8.7%
- Drifted upward by 40 basis points.
- Among the 20 lowest vacancies nationally.
- Expected to finish 2020 at 9.3%.
Office
Average Vacancy Rate 18.7%
- Drifted downward by 30 basis points.
- Lowest level since Q2 2018.
- Expected to finish 2020 at 20.7%.
Retail
Average Vacancy Rate 7.4%
- Drifted upward by 20 basis points.
- Among the 20 lowest vacancies nationally.
- Expected to finish 2020 at 9.5%.
RENT
Apartment
Average Asking Rent $1,640
- Flat since Q1 2020.
- Expected to finish 2020 at $1,602.
Distribution / Warehousing
Average Asking Rent $8.28
- Up 0.4% from Q1 2020.
- Expected to finish 2020 at $7.99.
Flex / R&D
Average Asking Rent $12.31
- Up 0.4% from Q1 2020.
- Has risen in every quarter since Q2 2013.
- Expected to finish 2020 at $11.65.
Office
Average Asking Rent $29.92
- Down 0.1% from Q1 2020.
- Expected to finish 2020 at $29.23.
Retail
Average Asking Rent $28.12
- Down 0.5% from Q1 2020.
- Expected to finish 2020 at $25.86.
VACANCY
Distribution / Warehousing
Average Vacancy Rate 6.2%
- Fell by 130 basis points.
- Among the 20 lowest vacancies nationally.
- Expected to finish 2018 at.
RENT
Distribution / Warehousing
Average Asking Rent $6.77
- Up 1.2% from Q2 2018.
- Expected to finish 2018 at.