Office vacancy rates have not recovered to pre-COVID levels and will likely go much higher as job losses mount and as companies work to reduce expenses.

• San Francisco and New York City have seen vacancy rates spike over the Q1 2020 – Q3 2022 period (see first table below), while many major metro areas have double-digit percentage vacancy rates (see second table below).
• To access our Excel spreadsheet which details vacancy rates for 139 metro areas, Click HERE.

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