Boston Office Market Report
By CREhunt Research · Data through Q2 2026 · Aggregated from Newmark, Cushman & Wakefield, Avison Young, Lee & Associates, CBRE, JLL, Savills
Quarterly office market indicators for Boston, aggregated by CREhunt from Newmark, Cushman & Wakefield, Avison Young, Lee & Associates, CBRE, JLL, Savills. As of Q2 2026, average asking rent was $46.69/SF/yr and vacancy was 23.6%, per Newmark.
Projected current office pricing — Boston
Modeled estimate (income approach) shown as a range — not an appraisal. Projected asking rent × occupancy × net-operating-income margin band ÷ market cap rate, from Q2 2026 multiple brokerages data (cap rate 9.7%, asking rent trend-adjusted to today). Assumes ~92% occupancy (vacancy not reported) and a 50–65% net-operating-income margin.
| Quarter | Asking rent | Vacancy | Net absorption | Under constr. | Source |
|---|---|---|---|---|---|
| Q2 2026 Newmark | $46.69/SF/yr | 23.6% | — | — | Newmark |
| Q2 2026 Cushman & Wakefield | $47.30/SF/yr | 19.0% | — | — | Cushman & Wakefield |
| Q1 2026 Avison Young | $55.84/SF/yr | 20.7% | — | — | Avison Young |
| Q1 2026 Cushman & Wakefield | $47.74/SF/yr | 18.5% | — | — | Cushman & Wakefield |
| Q1 2026 Lee & Associates | $43.72/SF/yr | 14.9% | 1.5M SF | — | Lee & Associates |
| Q1 2026 CBRE | $67.11/SF/yr | 18.7% | -89K SF | — | CBRE |
| Q1 2026 Newmark | $46.70/SF/yr | 23.2% | — | — | Newmark |
| Q1 2026 JLL | $45.72/SF/yr | 24.0% | — | — | JLL |
| Q4 2025 Cushman & Wakefield | $48.99/SF/yr | 18.2% | 67K SF | — | Cushman & Wakefield |
| Q4 2025 Newmark | $46.24/SF/yr | 14.5% | — | — | Newmark |
| Q4 2025 CBRE | $68.25/SF/yr | — | -873K SF | — | CBRE |
| Q3 2025 Savills | — | — | 1.4M SF | — | Savills |
| Q3 2025 Cushman & Wakefield | $48.60/SF/yr | 18.4% | -2.7M SF | — | Cushman & Wakefield |
| Q3 2025 Newmark | $46.17/SF/yr | 22.7% | — | — | Newmark |
| Q2 2025 Newmark | $43.97/SF/yr | 22.3% | — | — | Newmark |
| Q2 2025 Cushman & Wakefield | $47.05/SF/yr | 17.7% | — | — | Cushman & Wakefield |
| Q1 2025 Newmark | $40.00/SF/yr | 22.1% | — | — | Newmark |
| Q1 2025 Cushman & Wakefield | $47.68/SF/yr | 17.5% | — | — | Cushman & Wakefield |
| Q4 2024 Newmark | — | 21.7% | — | — | Newmark |
| Q3 2024 Newmark | — | 25.7% | — | — | Newmark |
| Q2 2024 Newmark | — | 20.7% | — | — | Newmark |
| Q1 2024 Newmark | — | 20.0% | — | — | Newmark |
| Q4 2023 Newmark | — | 19.3% | — | — | Newmark |
| Q3 2023 Newmark | — | 18.5% | — | — | Newmark |
Office asking rents by submarket
The newest asking rent a named brokerage's report published for each Boston 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 |
|---|---|---|
| Alewife | $61.31/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Back Bay | $66.86/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| East Cambridge | $81.96/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Fenway/Longwood | $68.95/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Financial District | $68.95/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Framingham/Natick | $24.56/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Mid Cambridge | $65.47/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Midtown/N Station | $48.93/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Seaport | $58.30/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Urban North | $42.39/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Urban South | $41.28/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Urban West | $45.95/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Watertown | $33.86/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
How the brokerage sources compare
For Q2 2026, the brokerages CREhunt aggregates for Boston office did not fully agree. On vacancy, the sources span 4.6 points — from 19.0% (Cushman & Wakefield) to 23.6% (Newmark). Asking-rent estimates differ by $0.61/SF/yr — from $46.69/SF/yr to $47.30/SF/yr. CREhunt reconciles these into a single consensus median rather than relying on any one brokerage.
| Source | Vacancy | Asking rent | Cap rate |
|---|---|---|---|
| Cushman & Wakefield | 19.0% | $47.30/SF/yr | — |
| Newmark | 23.6% | $46.69/SF/yr | — |
Per-brokerage figures for Q2 2026, aggregated from published brokerage market reports.
Frequently asked questions
- What is the average asking rent for office space in Boston?
- As of Q2 2026, the average asking rent for office space in Boston was $46.69/SF/yr, per Newmark.
- What is the office vacancy rate in Boston?
- The office vacancy rate in Boston was 23.6% as of Q2 2026 (Newmark).
- Where does CREhunt's Boston market data come from?
- This report aggregates quarterly office market data for Boston from Newmark, Cushman & Wakefield, Avison Young, Lee & Associates, CBRE, JLL, Savills.
- How much do brokerage estimates differ for office space in Boston?
- For Q2 2026, the brokerage sources CREhunt aggregates for Boston did not fully agree. On vacancy, the sources span 4.6 points — from 19.0% (Cushman & Wakefield) to 23.6% (Newmark). Asking-rent estimates differ by $0.61/SF/yr — from $46.69/SF/yr to $47.30/SF/yr. CREhunt reconciles these into a single consensus median rather than relying on any one brokerage.