Birmingham Office Market Report
By CREhunt Research · Data through Q2 2026 · Aggregated from Cushman & Wakefield, Savills, Colliers
Quarterly office market indicators for Birmingham, aggregated by CREhunt from Cushman & Wakefield, Savills, Colliers. As of Q1 2026, average asking rent was $52.00/SF/yr and vacancy was 10.3%, per Savills.
Projected current office pricing — Birmingham
Modeled estimate (income approach) shown as a range — not an appraisal. No market-specific cap rate is published for Birmingham office yet, so this applies the typical cap rate across comparable office markets — treat it as a rough, indicative range that sharpens as sourced cap rates arrive. Projected asking rent × occupancy × net-operating-income margin band ÷ a benchmark cap rate, from Q1 2026 Cushman & Wakefield asking-rent data (benchmark cap rate 6.5%–8.6%, asking rent trend-adjusted to today). Assumes ~84% occupancy and a 50–65% net-operating-income margin.
| Quarter | Asking rent | Vacancy | Net absorption | Under constr. | Source |
|---|---|---|---|---|---|
| Q2 2026 Cushman & Wakefield | — | — | 22 SF | — | Cushman & Wakefield |
| Q1 2026 Savills | $52.00/SF/yr | 10.3% | 107K SF | — | Savills |
| Q1 2026 Cushman & Wakefield | $21.89/SF/yr | 15.8% | 137K SF | — | Cushman & Wakefield |
| Q2 2024 Cushman & Wakefield | $21.35/SF/yr | 18.4% | -323 SF | — | Cushman & Wakefield |
| Q4 2023 Cushman & Wakefield | $22.00/SF/yr | 15.7% | 2K SF | — | Cushman & Wakefield |
| Q4 2021 Colliers | $90.00/SF/yr | — | 4.4M SF | — | Colliers |
| Q4 2019 Cushman & Wakefield | — | 4.1% | 20 SF | — | Cushman & Wakefield |
Office asking rents by submarket
The newest asking rent a named brokerage's report published for each Birmingham office submarket, with its publisher and quarter. Submarkets whose newest figure cannot be attributed, or falls outside a plausible range, are left out.
| Submarket | Asking rent | Source |
|---|---|---|
| CBD | $23.36/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Hoover/Riverchase | $21.18/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Midtown | $27.68/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Vulcan/Oxmoor | $17.46/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
Frequently asked questions
- What is the average asking rent for office space in Birmingham?
- As of Q1 2026, the average asking rent for office space in Birmingham was $52.00/SF/yr, per Savills.
- What is the office vacancy rate in Birmingham?
- The office vacancy rate in Birmingham was 10.3% as of Q1 2026 (Savills).
- Where does CREhunt's Birmingham market data come from?
- This report aggregates quarterly office market data for Birmingham from Cushman & Wakefield, Savills, Colliers.