Effective Rents Rise in Most U.S. Markets
May 2, 2012
Rents increased more than concessions last year, pushing up tenant and landlord effective rents, according to Studley’s 2012 Effective Rent Index. Tenant occupancy costs surpassed 2005 levels, rising 12.5 percent to $41.81, while the National Landlord Effective Rent Index increased 26 percent year over year, from $15.44 to $19.45.
Midtown New York led in tenant occupancy costs in 2011 at $59.43, followed by Washington, D.C., ($54.42) and San Francisco ($50.36). And for the first time in the Index’s history, Houston surpassed the national median, increasing 8.8 percent to $27.12. ...
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