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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
The average Vacancy Rate was 6.5% in the Northern New Jersey market
Distribution / Warehousing
The average Vacancy Rate was 4.6% in the Northern New Jersey market
- Vacancy in the Northern New Jersey market drifted upward by 10 basis points.
- The Northern New Jersey market had the highest vacancy level since year-end 2021.
Flex / R&D
The average Vacancy Rate was 5.2% in the Northern New Jersey market
Office
The average Vacancy Rate was 22.1% in the Northern New Jersey market
- Vacancy in the Northern New Jersey market drifted upward by 40 basis points.
- The Northern New Jersey market had the highest vacancy level since Q2 2021.
Retail
The average Vacancy Rate was 8.0% in the Northern New Jersey market
RENT
Apartment
The average Asking Rent was $2,454 in the Northern New Jersey market
Distribution / Warehousing
The average Asking Rent was $9.32 in the Northern New Jersey market
- Rent in the Northern New Jersey market was up 1.4% from Q3 2023.
- Rent has risen in every quarter since Q2 2020 in the Northern New Jersey market.
Flex / R&D
The average Asking Rent was $13.27 in the Northern New Jersey market
- Rent in the Northern New Jersey market was up 1.8% from Q3 2023.
- Rent has risen in every quarter since Q2 2020 in the Northern New Jersey market.
Office
The average Asking Rent was $30.38 in the Northern New Jersey market
Retail
The average Asking Rent was $29.73 in the Northern New Jersey market
VACANCY
Apartment
The average Vacancy Rate was 4.7% in the Philadelphia metro
- Vacancy in the Philadelphia metro drifted upward by 10 basis points.
- The Philadelphia metro had the highest vacancy level since Q1 2021.
Distribution / Warehousing
The average Vacancy Rate was 5.5% in the Philadelphia metro
- Vacancy in the Philadelphia metro drifted upward by 20 basis points.
- The Philadelphia metro had the highest vacancy level since Q3 2021.
Flex / R&D
The average Vacancy Rate was 3.9% in the Philadelphia metro
Office
The average Vacancy Rate was 17.4% in the Philadelphia metro
- Vacancy in the Philadelphia metro increased by 70 basis points.
- The Philadelphia metro had the highest vacancy level since Q2 1997.
Retail
The average Vacancy Rate was 11.0% in the Philadelphia metro
RENT
Apartment
The average Asking Rent was $1,733 in the Philadelphia metro
Distribution / Warehousing
The average Asking Rent was $6.93 in the Philadelphia metro
- Rent in the Philadelphia metro was up 1.3% from Q3 2023.
- Rent has risen in every quarter for the past three years in the Philadelphia metro.
Flex / R&D
The average Asking Rent was $10.35 in the Philadelphia metro
- Rent in the Philadelphia metro was up 1.8% from Q3 2023.
- Rent has risen in every quarter since Q2 2020 in the Philadelphia metro.
Office
The average Asking Rent was $29.10 in the Philadelphia metro
- Rent in the Philadelphia metro was up 0.8% from Q3 2023.
- Philadelphia metro had its fastest rent rate of increase since Q3 2019.
Retail
The average Asking Rent was $21.62 in the Philadelphia metro
VACANCY
Apartment
The average Vacancy Rate was 4.1% in the Pittsburgh metro
Distribution / Warehousing
The average Vacancy Rate was 3.3% in the Pittsburgh metro
- No vacancy change since Q3 2023 in the Pittsburgh metro.
- The Pittsburgh metro had the highest vacancy level since year-end 2021.
Flex / R&D
The average Vacancy Rate was 12.5% in the Pittsburgh metro
Office
The average Vacancy Rate was 21.3% in the Pittsburgh metro
- Vacancy in the Pittsburgh metro drifted upward by 30 basis points.
- The Pittsburgh metro had the highest vacancy level since year-end 1993.
Retail
The average Vacancy Rate was 12.2% in the Pittsburgh metro
RENT
Apartment
The average Asking Rent was $1,349 in the Pittsburgh metro
Distribution / Warehousing
The average Asking Rent was $5.51 in the Pittsburgh metro
- Rent in the Pittsburgh metro was up 0.5% from Q3 2023.
- Rent Has risen for eight consecutive quarters in the Pittsburgh metro.
Flex / R&D
The average Asking Rent was $9.86 in the Pittsburgh metro
- Rent in the Pittsburgh metro was up 0.3% from Q3 2023.
- Rent Has risen for nine consecutive quarters in the Pittsburgh metro.
Office
The average Asking Rent was $23.99 in the Pittsburgh metro
Retail
The average Asking Rent was $18.35 in the Pittsburgh metro
VACANCY
Apartment
The average Vacancy Rate was 3.6% in the Suburban Maryland market
Distribution / Warehousing
The average Vacancy Rate was 5.0% in the Suburban Maryland market
- Vacancy in the Suburban Maryland market increased by 50 basis points.
- The Suburban Maryland market had the highest vacancy level since year-end 2021.
Flex / R&D
The average Vacancy Rate was 5.5% in the Suburban Maryland market
Office
The average Vacancy Rate was 19.5% in the Suburban Maryland market
- Vacancy in the Suburban Maryland market drifted upward by 30 basis points.
- The Suburban Maryland market had the highest vacancy level since year-end 1993.
Retail
The average Vacancy Rate was 7.7% in the Suburban Maryland market
- No vacancy change since Q3 2023 in the Suburban Maryland market.
- The Suburban Maryland market had the highest vacancy level since Q2 2021.
RENT
Apartment
The average Asking Rent was $1,798 in the Suburban Maryland market
Distribution / Warehousing
The average Asking Rent was $10.58 in the Suburban Maryland market
- Rent in the Suburban Maryland market was up 0.8% from Q3 2023.
- Rent Has risen for eleven consecutive quarters in the Suburban Maryland market.
Flex / R&D
The average Asking Rent was $16.09 in the Suburban Maryland market
- Rent in the Suburban Maryland market was up 1.1% from Q3 2023.
- Rent has risen in every quarter since Q2 2013 in the Suburban Maryland market.
Office
The average Asking Rent was $30.84 in the Suburban Maryland market
Retail
The average Asking Rent was $28.09 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.