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Pennsylvania
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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
The average Vacancy Rate was 5.8% in the Northern New Jersey market
- Vacancy in the Northern New Jersey market drifted downward by 30 basis points.
- Vacancy is expected to finish 2022 at 5.7% in the Northern New Jersey market.
Distribution / Warehousing
The average Vacancy Rate was 4.9% in the Northern New Jersey market
- No vacancy change since year-end 2021 in the Northern New Jersey market.
- The Northern New Jersey market had the lowest vacancy level since Q3 2009.
- Vacancy is expected to finish 2022 at 4.5% in the Northern New Jersey market.
Flex / R&D
The average Vacancy Rate was 8.4% in the Northern New Jersey market
- Vacancy in the Northern New Jersey market fell by 50 basis points.
- The Northern New Jersey market was among the 20 lowest vacancies nationally.
- Vacancy is expected to finish 2022 at 7.8% in the Northern New Jersey market.
Office
The average Vacancy Rate was 20.8% in the Northern New Jersey market
- Vacancy in the Northern New Jersey market drifted downward by 40 basis points.
- The Northern New Jersey market had the lowest vacancy level since Q2 2017.
- Vacancy is expected to finish 2022 at 21.6% in the Northern New Jersey market.
Retail
The average Vacancy Rate was 7.9% in the Northern New Jersey market
- The Northern New Jersey market had the ninth lowest vacancy in the nation and the seventh lowest in the Northeast.
- Vacancy in the Northern New Jersey market drifted upward by 10 basis points.
- Vacancy is expected to finish 2022 at 8.2% in the Northern New Jersey market.
RENT
Apartment
The average Asking Rent was $2,280 in the Northern New Jersey market
- Rent in the Northern New Jersey market was down 0.6% from year-end 2021.
- Rent is expected to finish 2022 at $2,330 in the Northern New Jersey market.
Distribution / Warehousing
The average Asking Rent was $7.18 in the Northern New Jersey market
- Rent in the Northern New Jersey market was up 1.8% from year-end 2021.
- Rent Has risen for seven consecutive quarters in the Northern New Jersey market.
- Rent is expected to finish 2022 at $7.40 in the Northern New Jersey market.
Flex / R&D
The average Asking Rent was $9.92 in the Northern New Jersey market
- Rent in the Northern New Jersey market was up 1.5% from year-end 2021.
- Rent Has risen for seven consecutive quarters in the Northern New Jersey market.
- Rent is expected to finish 2022 at $10.18 in the Northern New Jersey market.
Office
The average Asking Rent was $30.17 in the Northern New Jersey market
- Rent in the Northern New Jersey market was up 0.4% from year-end 2021.
- Rent is expected to finish 2022 at $30.09 in the Northern New Jersey market.
Retail
The average Asking Rent was $29.56 in the Northern New Jersey market
- The Northern New Jersey market remained flat rent since year-end 2021.
- Rent is expected to finish 2022 at $29.60 in the Northern New Jersey market.
VACANCY
Apartment
The average Vacancy Rate was 4.1% in the Philadelphia metro
- No vacancy change since year-end 2021 in the Philadelphia metro.
- The Philadelphia metro had the lowest vacancy level since year-end 2019.
- Vacancy is expected to finish 2022 at 4.1% in the Philadelphia metro.
Distribution / Warehousing
The average Vacancy Rate was 4.8% in the Philadelphia metro
- Vacancy in the Philadelphia metro declined by 70 basis points.
- The Philadelphia metro was among the 20 lowest vacancies nationally.
- Vacancy is expected to finish 2022 at 4.7% in the Philadelphia metro.
Flex / R&D
The average Vacancy Rate was 5.4% in the Philadelphia metro
- The Philadelphia metro had the seventh lowest vacancy in the nation and the ninth lowest in the Northeast.
- No vacancy change since year-end 2021 in the Philadelphia metro.
- The Philadelphia metro had the lowest vacancy level since Q3 2009.
Office
The average Vacancy Rate was 15.0% in the Philadelphia metro
- Vacancy in the Philadelphia metro drifted upward by 40 basis points.
- The Philadelphia metro was among the 20 lowest vacancies nationally.
- Vacancy is expected to finish 2022 at 15.5% in the Philadelphia metro.
Retail
The average Vacancy Rate was 11.3% in the Philadelphia metro
- No vacancy change since year-end 2021 in the Philadelphia metro.
- The Philadelphia metro had the lowest vacancy level since Q1 2020.
- Vacancy is expected to finish 2022 at 11.1% in the Philadelphia metro.
RENT
Apartment
The average Asking Rent was $1,625 in the Philadelphia metro
- Rent in the Philadelphia metro was up 1.2% from year-end 2021.
- Rent is expected to finish 2022 at $1,673 in the Philadelphia metro.
Distribution / Warehousing
The average Asking Rent was $5.40 in the Philadelphia metro
- Rent in the Philadelphia metro was up 1.7% from year-end 2021.
- Rent is expected to finish 2022 at $5.56 in the Philadelphia metro.
Flex / R&D
The average Asking Rent was $8.26 in the Philadelphia metro
- Rent in the Philadelphia metro was up 1.3% from year-end 2021.
- Rent Has risen for seven consecutive quarters in the Philadelphia metro.
- Rent is expected to finish 2022 at $8.48 in the Philadelphia metro.
Office
The average Asking Rent was $28.81 in the Philadelphia metro
- Rent in the Philadelphia metro was up 0.8% from year-end 2021.
- Philadelphia metro had its fastest rent rate of increase in ten quarters.
- Rent is expected to finish 2022 at $28.75 in the Philadelphia metro.
Retail
The average Asking Rent was $21.57 in the Philadelphia metro
- The Philadelphia metro remained flat rent since year-end 2021.
- Rent is expected to finish 2022 at $21.57 in the Philadelphia metro.
VACANCY
Apartment
The average Vacancy Rate was 3.9% in the Pittsburgh metro
- Vacancy in the Pittsburgh metro drifted upward by 10 basis points.
- The Pittsburgh metro was among the 20 lowest vacancies nationally.
- Vacancy is expected to finish 2022 at 4.0% in the Pittsburgh metro.
Distribution / Warehousing
The average Vacancy Rate was 3.2% in the Pittsburgh metro
- The Pittsburgh metro had the seventh lowest vacancy in the nation and the eighth lowest in the Northeast.
- Vacancy in the Pittsburgh metro declined by 130 basis points.
- The Pittsburgh metro had the lowest vacancy level since Q3 2009.
Flex / R&D
The average Vacancy Rate was 12.8% in the Pittsburgh metro
- Vacancy in the Pittsburgh metro fell by 190 basis points.
- The Pittsburgh metro was among the 20 lowest vacancies nationally.
- Vacancy is expected to finish 2022 at 12.0% in the Pittsburgh metro.
Office
The average Vacancy Rate was 19.4% in the Pittsburgh metro
- No vacancy change since year-end 2021 in the Pittsburgh metro.
- Vacancy is expected to finish 2022 at 20.0% in the Pittsburgh metro.
Retail
The average Vacancy Rate was 11.9% in the Pittsburgh metro
- No vacancy change since year-end 2021 in the Pittsburgh metro.
- Vacancy is expected to finish 2022 at 11.3% in the Pittsburgh metro.
RENT
Apartment
The average Asking Rent was $1,302 in the Pittsburgh metro
- Rent in the Pittsburgh metro was up 2.7% from year-end 2021.
- Rent is expected to finish 2022 at $1,342 in the Pittsburgh metro.
Distribution / Warehousing
The average Asking Rent was $4.98 in the Pittsburgh metro
- Rent in the Pittsburgh metro was up 1.0% from year-end 2021.
- Rent is expected to finish 2022 at $5.12 in the Pittsburgh metro.
Flex / R&D
The average Asking Rent was $8.91 in the Pittsburgh metro
- Rent in the Pittsburgh metro was up 1.6% from year-end 2021.
- Pittsburgh metro had its fastest rent rate of increase since Q2 2011.
- Rent is expected to finish 2022 at $9.19 in the Pittsburgh metro.
Office
The average Asking Rent was $23.26 in the Pittsburgh metro
- Rent in the Pittsburgh metro was up 0.3% from year-end 2021.
- Rent Has risen for six consecutive quarters in the Pittsburgh metro.
- Rent is expected to finish 2022 at $23.34 in the Pittsburgh metro.
Retail
The average Asking Rent was $18.21 in the Pittsburgh metro
- Rent in the Pittsburgh metro was up 0.1% from year-end 2021.
- Rent is expected to finish 2022 at $18.31 in the Pittsburgh metro.
VACANCY
Apartment
The average Vacancy Rate was 3.8% in the Suburban Maryland market
- The Suburban Maryland market had the tenth lowest vacancy in the nation and the eleventh lowest in the South Atlantic.
- No vacancy change since year-end 2021 in the Suburban Maryland market.
- Vacancy is expected to finish 2022 at 4.0% in the Suburban Maryland market.
Distribution / Warehousing
The average Vacancy Rate was 5.5% in the Suburban Maryland market
- Vacancy in the Suburban Maryland market drifted downward by 40 basis points.
- The Suburban Maryland market had the lowest vacancy level since Q3 2009.
- Vacancy is expected to finish 2022 at 4.6% in the Suburban Maryland market.
Flex / R&D
The average Vacancy Rate was 7.0% in the Suburban Maryland market
- No vacancy change since year-end 2021 in the Suburban Maryland market.
- The Suburban Maryland market had the lowest vacancy level since Q3 2009.
- Vacancy is expected to finish 2022 at 6.7% in the Suburban Maryland market.
Office
The average Vacancy Rate was 17.9% in the Suburban Maryland market
- No vacancy change since year-end 2021 in the Suburban Maryland market.
- The Suburban Maryland market had the lowest vacancy level since year-end 2016.
- Vacancy is expected to finish 2022 at 18.4% in the Suburban Maryland market.
Retail
The average Vacancy Rate was 7.5% in the Suburban Maryland market
- The Suburban Maryland market had the eighth lowest vacancy in the nation and the ninth lowest in the South Atlantic.
- Vacancy in the Suburban Maryland market drifted downward by 10 basis points.
- Vacancy is expected to finish 2022 at 7.8% in the Suburban Maryland market.
RENT
Apartment
The average Asking Rent was $1,712 in the Suburban Maryland market
- Rent in the Suburban Maryland market was up 2.8% from year-end 2021.
- Rent is expected to finish 2022 at $1,745 in the Suburban Maryland market.
Distribution / Warehousing
The average Asking Rent was $8.80 in the Suburban Maryland market
- Rent in the Suburban Maryland market was up 1.7% from year-end 2021.
- Suburban Maryland market had its fastest rent rate of increase since Q3 2009.
- Rent is expected to finish 2022 at $8.92 in the Suburban Maryland market.
Flex / R&D
The average Asking Rent was $13.05 in the Suburban Maryland market
- Rent in the Suburban Maryland market was up 1.2% from year-end 2021.
- Rent has risen in every quarter since Q2 2013 in the Suburban Maryland market.
- Rent is expected to finish 2022 at $13.36 in the Suburban Maryland market.
Office
The average Asking Rent was $30.36 in the Suburban Maryland market
- The Suburban Maryland market remained flat rent since year-end 2021.
- Rent is expected to finish 2022 at $30.56 in the Suburban Maryland market.
Retail
The average Asking Rent was $27.86 in the Suburban Maryland market
- The Suburban Maryland market remained flat rent since year-end 2021.
- Rent is expected to finish 2022 at $27.99 in the Suburban Maryland market.
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.