Boston area office rents spike sharply, despite pandemic impact

In the second quarter of 2020, Boston's overall average rent spiked to $35.82 per square foot (psf), reflecting a sharp annual increase of 7.7% and a quarterly increase of 2.0%. Second-quarter submarket rents ranged from $15.91 psf along Southern New Hampshire and $16.82 psf along Route 495/Route 2 West, to $67.20 psf in the Financial District and $72.66 psf in Back Bay. Similarly, Class A rents throughout the market increased by 9.3% year-over-year and 2.8% over the quarter, to $44.46 psf. CBD rents rose by 3.7% over the past year, while suburban rents gained about 8.4% over the same period.

Read the full report