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West Virginia
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VACANCY
Apartment
The average Vacancy Rate was 4.6% in the Pittsburgh metro
- Vacancy in the Pittsburgh metro drifted upward by 10 basis points.
- The Pittsburgh metro had the highest vacancy level since Q1 2019.
- Vacancy is expected to finish 2024 at 5.0% in the Pittsburgh metro.
Distribution / Warehousing
The average Vacancy Rate was 4.0% in the Pittsburgh metro
- No vacancy change since Q1 2024 in the Pittsburgh metro.
- The Pittsburgh metro had the highest vacancy level since year-end 2021.
- Vacancy is expected to finish 2024 at 3.8% in the Pittsburgh metro.
Flex / R&D
The average Vacancy Rate was 12.5% in the Pittsburgh metro
- The Pittsburgh metro had the second highest vacancy in the nation. Only Cleveland is currently softer.
- No vacancy change since Q1 2024 in the Pittsburgh metro.
- Vacancy is expected to finish 2024 at 12.2% in the Pittsburgh metro.
Office
The average Vacancy Rate was 23.0% in the Pittsburgh metro
- Vacancy in the Pittsburgh metro increased by 150 basis points.
- The Pittsburgh metro was among the 20 highest vacancies nationally.
- Vacancy is expected to finish 2024 at 22.7% in the Pittsburgh metro.
Retail
The average Vacancy Rate was 11.6% in the Pittsburgh metro
- Vacancy in the Pittsburgh metro fell by 50 basis points.
- The Pittsburgh metro had the lowest vacancy level since Q2 2020.
- Vacancy is expected to finish 2024 at 11.4% in the Pittsburgh metro.
RENT
Apartment
The average Asking Rent was $1,374 in the Pittsburgh metro
- Rent in the Pittsburgh metro was up 1.0% from Q1 2024.
- Pittsburgh metro had its fastest rent rate of increase in four quarters.
- Rent is expected to finish 2024 at $1,391 in the Pittsburgh metro.
Distribution / Warehousing
The average Asking Rent was $5.59 in the Pittsburgh metro
- Rent in the Pittsburgh metro was up 0.4% from Q1 2024.
- Rent Has risen for ten consecutive quarters in the Pittsburgh metro.
- Rent is expected to finish 2024 at $5.67 in the Pittsburgh metro.
Flex / R&D
The average Asking Rent was $9.97 in the Pittsburgh metro
- Rent in the Pittsburgh metro was up 0.4% from Q1 2024.
- Rent Has risen for eleven consecutive quarters in the Pittsburgh metro.
- Rent is expected to finish 2024 at $10.08 in the Pittsburgh metro.
Office
The average Asking Rent was $24.36 in the Pittsburgh metro
- Rent in the Pittsburgh metro was up 0.5% from Q1 2024.
- Rent is expected to finish 2024 at $24.49 in the Pittsburgh metro.
Retail
The average Asking Rent was $18.44 in the Pittsburgh metro
- Rent in the Pittsburgh metro was up 0.3% from Q1 2024.
- Pittsburgh metro had its fastest rent rate of increase three years.
- Rent Has risen for seven consecutive quarters in the Pittsburgh metro.
VACANCY
Apartment
The average Vacancy Rate was 5.2% in the Suburban Virginia market
- Vacancy in the Suburban Virginia market drifted downward by 10 basis points.
- Vacancy is expected to finish 2024 at 4.9% in the Suburban Virginia market.
Distribution / Warehousing
The average Vacancy Rate was 3.4% in the Suburban Virginia market
- Vacancy in the Suburban Virginia market has risen for six consecutive quarters.
- The Suburban Virginia market had the highest vacancy level since Q2 2021.
- Vacancy is expected to finish 2024 at 3.2% in the Suburban Virginia market.
Flex / R&D
The average Vacancy Rate was 5.9% in the Suburban Virginia market
- Vacancy in the Suburban Virginia market drifted downward by 10 basis points.
- Vacancy is expected to finish 2024 at 5.7% in the Suburban Virginia market.
Office
The average Vacancy Rate was 22.2% in the Suburban Virginia market
- Vacancy in the Suburban Virginia market has risen for six consecutive quarters.
- The Suburban Virginia market had the highest vacancy level since year-end 1993.
- Vacancy is expected to finish 2024 at 22.4% in the Suburban Virginia market.
Retail
The average Vacancy Rate was 6.3% in the Suburban Virginia market
- The Suburban Virginia market had the lowest vacancy in the South Atlantic region, fifth lowest in the nation.
- Vacancy in the Suburban Virginia market drifted upward by 10 basis points.
- The Suburban Virginia market had the highest vacancy level since Q2 2021.
RENT
Apartment
The average Asking Rent was $2,146 in the Suburban Virginia market
- Rent in the Suburban Virginia market was up 0.4% from Q1 2024.
- Rent is expected to finish 2024 at $2,172 in the Suburban Virginia market.
Distribution / Warehousing
The average Asking Rent was $11.93 in the Suburban Virginia market
- Rent in the Suburban Virginia market was up 0.9% from Q1 2024.
- Rent has risen in every quarter since year-end 2020 in the Suburban Virginia market.
- Rent is expected to finish 2024 at $12.16 in the Suburban Virginia market.
Flex / R&D
The average Asking Rent was $16.16 in the Suburban Virginia market
- Rent in the Suburban Virginia market was up 1.1% from Q1 2024.
- Rent has risen in every quarter since Q1 2021 in the Suburban Virginia market.
- Rent is expected to finish 2024 at $16.62 in the Suburban Virginia market.
Office
The average Asking Rent was $35.61 in the Suburban Virginia market
- Rent in the Suburban Virginia market was up 0.3% from Q1 2024.
- Rent is expected to finish 2024 at $35.84 in the Suburban Virginia market.
Retail
The average Asking Rent was $30.81 in the Suburban Virginia market
- Rent in the Suburban Virginia market was up 0.2% from Q1 2024.
- Rent is expected to finish 2024 at $31.15 in the Suburban Virginia market.