Cincinnati Office Market Report
By CREhunt Research · Data through Q2 2026 · Aggregated from CBRE, Cushman & Wakefield, JLL, Colliers, Newmark
Quarterly office market indicators for Cincinnati, aggregated by CREhunt from CBRE, Cushman & Wakefield, JLL, Colliers, Newmark. As of Q2 2026, average asking rent was $20.78/SF/yr and vacancy was 20.8%, per CBRE.
Projected current office pricing — Cincinnati
Modeled estimate (income approach) shown as a range — not an appraisal. No market-specific cap rate is published for Cincinnati 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 Q2 2026 multiple brokerages asking-rent data (benchmark cap rate 6.5%–8.6%, 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 CBRE | $20.78/SF/yr | 20.8% | — | — | CBRE |
| Q2 2026 Cushman & Wakefield | $20.82/SF/yr | 25.9% | — | — | Cushman & Wakefield |
| Q1 2026 JLL | $22.77/SF/yr | 17.3% | -200K SF | — | JLL |
| Q1 2026 Cushman & Wakefield | $20.73/SF/yr | 26.0% | — | — | Cushman & Wakefield |
| Q1 2026 CBRE | $20.63/SF/yr | — | — | — | CBRE |
| Q1 2026 Colliers | $5.35/SF/yr | 10.7% | 255K SF | — | Colliers |
| Q4 2025 Newmark | $20.42/SF/yr | 24.2% | — | — | Newmark |
| Q4 2025 Cushman & Wakefield | $20.89/SF/yr | 25.4% | — | — | Cushman & Wakefield |
| Q4 2025 CBRE | $20.54/SF/yr | — | — | — | CBRE |
| Q3 2025 Newmark | $20.69/SF/yr | 22.9% | 213K SF | — | Newmark |
| Q2 2025 Newmark | $94.80/SF/yr | 6.8% | 134K SF | — | Newmark |
| Q2 2025 Colliers | $20.44/SF/yr | 16.0% | -25K SF | — | Colliers |
| Q2 2025 CBRE | $20.44/SF/yr | — | — | — | CBRE |
| Q2 2025 Cushman & Wakefield | $20.96/SF/yr | 25.2% | 189K SF | — | Cushman & Wakefield |
| Q1 2025 Newmark | $90.00/SF/yr | 23.7% | — | — | Newmark |
| Q4 2024 Newmark | $22.04/SF/yr | 23.9% | 273K SF | — | Newmark |
| Q4 2024 Cushman & Wakefield | $21.01/SF/yr | 25.0% | -1K SF | — | Cushman & Wakefield |
| Q3 2024 Newmark | — | 25.0% | 73K SF | — | Newmark |
| Q2 2024 Newmark | $22.18/SF/yr | 25.0% | 47K SF | — | Newmark |
| Q2 2024 Colliers | $19.86/SF/yr | 15.5% | 43K SF | — | Colliers |
| Q1 2024 Newmark | $22.18/SF/yr | 25.2% | 42K SF | — | Newmark |
| Q4 2023 Newmark | $20.17/SF/yr | 26.9% | — | — | Newmark |
| Q3 2023 Newmark | $20.82/SF/yr | 26.0% | — | — | Newmark |
| Q2 2023 Newmark | $20.73/SF/yr | 25.5% | 119K SF | — | Newmark |
Office asking rents by submarket
The newest asking rent a named brokerage's report published for each Cincinnati 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 |
|---|---|---|
| Blue Ash | $21.50/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| CBD | $22.69/SF/yr CBRE · Q1 2026 | CBRE, Q1 2026 |
| CBD Peripheral | $20.44/SF/yr CBRE · Q1 2026 | CBRE, Q1 2026 |
| Central | $21.74/SF/yr CBRE · Q1 2026 | CBRE, Q1 2026 |
| East | $14.54/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Fields Ertel / Mason | $19.33/SF/yr CBRE · Q1 2026 | CBRE, Q1 2026 |
| Kenwood | $28.90/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Kenwood Submarket | $28.46/SF/yr CBRE · Q1 2026 | CBRE, Q1 2026 |
| Mason/Montgomery | $18.57/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Midtown | $23.29/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Northern Kentucky | $21.58/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Tri-County | $16.45/SF/yr CBRE · Q1 2026 | CBRE, Q1 2026 |
| Tri-County/Sharonville | $16.40/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| West | $11.26/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| West Chester | $22.70/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
How the brokerage sources compare
For Q2 2026, the brokerages CREhunt aggregates for Cincinnati office did not fully agree. On vacancy, the sources span 5.1 points — from 20.8% (CBRE) to 25.9% (Cushman & Wakefield). Asking-rent estimates differ by $0.04/SF/yr — from $20.78/SF/yr to $20.82/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 | 25.9% | $20.82/SF/yr | — |
| CBRE | 20.8% | $20.78/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 Cincinnati?
- As of Q2 2026, the average asking rent for office space in Cincinnati was $20.78/SF/yr, per CBRE.
- What is the office vacancy rate in Cincinnati?
- The office vacancy rate in Cincinnati was 20.8% as of Q2 2026 (CBRE).
- Where does CREhunt's Cincinnati market data come from?
- This report aggregates quarterly office market data for Cincinnati from CBRE, Cushman & Wakefield, JLL, Colliers, Newmark.
- How much do brokerage estimates differ for office space in Cincinnati?
- For Q2 2026, the brokerage sources CREhunt aggregates for Cincinnati did not fully agree. On vacancy, the sources span 5.1 points — from 20.8% (CBRE) to 25.9% (Cushman & Wakefield). Asking-rent estimates differ by $0.04/SF/yr — from $20.78/SF/yr to $20.82/SF/yr. CREhunt reconciles these into a single consensus median rather than relying on any one brokerage.