Fort Lauderdale Office Market Report

Hurdles faced by other office markets help backstop demand. Fort Lauderdale ranks among the 15 lowest vacancy rates for major markets, at 14.7 percent as of March 2024. Lower taxes, an educated workforce, and positive quality of life considerations are prompting corporate relocations from Northeastern metros like New York and Washington, D.C. This demand is aiding local growth in the average asking rent, with the metro sustaining positive momentum for over 11 years and counting. While annual rent growth will somewhat taper in 2024 amid slower leasing trends, the pace is still projected to end December as the second fastest among major Florida markets.