Office rental prices in Washington, DC vary widely based on size, location, and amenities. On average, expect to pay $50 to $80 per square foot annually for office space downtown — with flexible options like hourly or part-time rentals available for smaller budgets.
Washington DC Office Space Costs
Renting office space in Washington, DC, presents a unique opportunity for businesses looking to establish a presence in one of the most influential cities in the world. Known for its dynamic economy, prestigious institutions, and vibrant professional community, Washington, DC, offers a diverse range of office spaces that cater to various business needs and budgets.
In 2024, the average asking rent for office space in Washington, DC, is $53.04 per square foot, reflecting a slight 0.95% increase from the previous year. This competitive pricing makes the city an attractive option for companies seeking prime office locations without the exorbitant costs found in other major metropolitan areas like New York City or San Francisco
The city’s office market is segmented into different classes to suit diverse business requirements. Class A office spaces, which are the most premium, average $55.08 per square foot and are typically located in prime areas with state-of-the-art amenities. Class B and Class C spaces, at $48.45 and $37.78 per square foot respectively, provide more affordable options while still offering excellent facilities and services
Washington DC Office Market Overview
Vacancy Rate: The overall vacancy rate in Washington, DC, stands at 21.52%, largely due to ongoing shifts in workplace trends and hybrid work models. However, vacancy rates vary significantly across different submarkets.
Average Sale Price: The average sale price for office space in Washington, DC, is $383.93 per square foot, which marks a 7.01% decrease from the previous year.
Total Office Sales: In 2023, the city recorded $898.5 million in total office sales across 12 transactions, including notable sales such as:
- Metropolitan Square: Sold for $305,000,000 on October 3, 2023
- Station Place III: Sold for $197,750,000 on November 15, 2023
Rent Prices by Office Class in Washington, DC
- Class A & A+ Office Space: $55.08 per square foot
- Class B Office Space: $48.45 per square foot
- Class C Office Space: $37.78 per square foot
Vacancy Rates by Submarket
The office vacancy rate varies across different submarkets in Washington, DC:
- Seventh Street Corridor: $59.71/sq ft, 22.03% vacancy rate
- NoMa: $56.55/sq ft, 13.72% vacancy rate
- East End: $56.04/sq ft, 24.00% vacancy rate
- Washington DC CBD: $53.03/sq ft, 25.85% vacancy rate
- Capitol Hill: $51.91/sq ft, 17.45% vacancy rate
- Chevy Chase: $47.60/sq ft, 27.35% vacancy rate(
New Office Construction in Washington, DC
In 2023, the city saw the completion of 605,015 square feet of new office space, with an additional 720,000 square feet under construction and expected to be completed in 2024
Office Rental Podcast - How Much Does Renting Offices in Washington DC Cost
Washington, DC Office Inventory Overview
A variety of factors contribute to a city’s appeal for businesses looking to relocate or expand, as well as for investors aiming to enhance their portfolios. One of the most crucial considerations is the size and quality of the local office market, which plays a key role in the city’s economic landscape.
Total Office Space in Washington: 154,066,783 Sq. Ft.
In 2024, Washington, DC’s office market totaled 154,066,783 square feet of space. Of this, 25,894,742 square feet were found in office buildings ranging from 500,000 to 1,000,000 square feet, while 8,588,653 square feet were in properties between 50,000 and 100,000 square feet.
Class A office space dominates the market, accounting for 57.15% of the total office inventory, with Class B assets representing about 23.31%.
Breakdown of Washington Office Market by Building Size
- 50k to 100k Sq. Ft.: 8,588,653 Sq. Ft. (5.57%)
- 100k to 500k Sq. Ft.: 104,235,320 Sq. Ft. (67.66%)
- 500k to 1M Sq. Ft.: 25,894,742 Sq. Ft. (16.81%)
- Over 1M Sq. Ft.: 11,670,896 Sq. Ft. (7.58%)
Breakdown of Washington Office Market by Building Quality
- Class A+: 14,353,950 Sq. Ft. (9.32%)
- Class A: 88,044,039 Sq. Ft. (57.15%)
- Class B: 35,910,863 Sq. Ft. (23.31%)
- Class C: 1,704,540 Sq. Ft. (1.11%)
Renting Office Space in Washington, DC
Average Asking Rent in 2024
