Houston Office Market Report
By CREhunt Research · Data through Q2 2026 · Aggregated from CBRE, JLL, Cushman & Wakefield, Partners Real Estate, Newmark, Avison Young, Savills, Colliers
Quarterly office market indicators for Houston, aggregated by CREhunt from CBRE, JLL, Cushman & Wakefield, Partners Real Estate, Newmark, Avison Young, Savills, Colliers. As of Q2 2026, average asking rent was $20.29/SF/yr and vacancy was 23.8%, per CBRE.
Projected current office pricing — Houston
Projected asking rent
$20.29/SF/yr
Estimated sale value
$91–$118/SF
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 CBRE data (cap rate 8.5%, asking rent held flat). Assumes ~76% occupancy and a 50–65% net-operating-income margin.
| Quarter | Asking rent | Vacancy | Net absorption | Under constr. | Source |
|---|---|---|---|---|---|
| Q2 2026 CBRE | $20.29/SF/yr | 23.8% | 320K SF | — | CBRE |
| Q1 2026 JLL | $32.17/SF/yr | 26.8% | — | — | JLL |
| Q1 2026 Cushman & Wakefield | $31.77/SF/yr | 24.9% | -817K SF | — | Cushman & Wakefield |
| Q1 2026 Partners Real Estate | $30.84/SF/yr | 26.5% | -158K SF | — | Partners Real Estate |
| Q1 2026 CBRE | $19.50/SF/yr | 25.7% | -309K SF | — | CBRE |
| Q4 2025 Newmark | $30.31/SF/yr | 25.6% | 222K SF | — | Newmark |
| Q4 2025 Partners Real Estate | $30.63/SF/yr | 26.3% | 375K SF | — | Partners Real Estate |
| Q4 2025 Avison Young | $33.64/SF/yr | — | — | — | Avison Young |
| Q4 2025 Savills | — | — | — | — | Savills |
| Q4 2025 Cushman & Wakefield | $31.81/SF/yr | 24.8% | — | — | Cushman & Wakefield |
| Q3 2025 Savills | — | — | 2.9M SF | — | Savills |
| Q3 2025 Partners Real Estate | $30.58/SF/yr | 26.3% | 654K SF | — | Partners Real Estate |
| Q2 2025 Newmark | $28.69/SF/yr | 25.5% | 572K SF | — | Newmark |
| Q2 2025 Colliers | $8.00/SF/yr | 20.0% | 853K SF | — | Colliers |
| Q1 2025 Newmark | $28.67/SF/yr | 25.9% | 124K SF | — | Newmark |
| Q4 2024 Newmark | $29.92/SF/yr | 25.2% | — | — | Newmark |
| Q3 2024 Newmark | $30.64/SF/yr | 25.2% | 467K SF | — | Newmark |
| Q1 2024 Newmark | $29.77/SF/yr | 25.1% | — | — | Newmark |
| Q4 2023 Newmark | $30.42/SF/yr | 24.9% | 1.5M SF | — | Newmark |
| Q3 2023 Newmark | $30.24/SF/yr | 25.0% | — | — | Newmark |
| Q2 2023 Newmark | $29.69/SF/yr | 24.6% | — | — | Newmark |
| Q1 2023 Newmark | $29.85/SF/yr | 25.2% | 136K SF | — | Newmark |
| Q4 2022 Newmark | $30.00/SF/yr | — | — | — | Newmark |
| Q3 2022 Newmark | $29.90/SF/yr | — | 7K SF | — | Newmark |
Office asking rents by submarket
The newest asking rent a named brokerage's report published for each Houston 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 | $26.49/SF/yr CBRE · Q1 2026 | CBRE, Q1 2026 |
| Central Business District | $42.13/SF/yr Cushman & Wakefield · Q1 2026 | Cushman & Wakefield, Q1 2026 |
| Clear Lake | $16.60/SF/yr CBRE · Q1 2026 | CBRE, Q1 2026 |
| East | $15.97/SF/yr CBRE · Q1 2026 | CBRE, Q1 2026 |
| East/Southeast | $22.42/SF/yr Cushman & Wakefield · Q1 2026 | Cushman & Wakefield, Q1 2026 |
| Energy Corridor | $17.81/SF/yr CBRE · Q1 2026 | CBRE, Q1 2026 |
| Far Northwest | $23.01/SF/yr Cushman & Wakefield · Q1 2026 | Cushman & Wakefield, Q1 2026 |
| Far West | $22.05/SF/yr CBRE · Q1 2026 | CBRE, Q1 2026 |
| Greenway | $34.02/SF/yr Cushman & Wakefield · Q1 2026 | Cushman & Wakefield, Q1 2026 |
| Greenway Plaza | $22.37/SF/yr CBRE · Q1 2026 | CBRE, Q1 2026 |
| Inner Loop | $35.85/SF/yr Cushman & Wakefield · Q1 2026 | Cushman & Wakefield, Q1 2026 |
| Katy Freeway | $32.19/SF/yr CBRE · Q1 2026 | CBRE, Q1 2026 |
| Katy Freeway East | $48.53/SF/yr Cushman & Wakefield · Q1 2026 | Cushman & Wakefield, Q1 2026 |
| Katy Freeway West | $31.14/SF/yr Cushman & Wakefield · Q1 2026 | Cushman & Wakefield, Q1 2026 |
| Katy/Grand Parkway West | $32.97/SF/yr Cushman & Wakefield · Q1 2026 | Cushman & Wakefield, Q1 2026 |
| Kingwood | $10.50/SF/yr CBRE · Q2 2026 | CBRE, Q2 2026 |
| Kingwood/Humble | $19.94/SF/yr Cushman & Wakefield · Q1 2026 | Cushman & Wakefield, Q1 2026 |
| NASA/Clear Lake | $25.60/SF/yr Cushman & Wakefield · Q1 2026 | Cushman & Wakefield, Q1 2026 |
| North | $17.12/SF/yr CBRE · Q1 2026 | CBRE, Q1 2026 |
| North Belt | $9.68/SF/yr CBRE · Q1 2026 | CBRE, Q1 2026 |
| North Belt/Greenspoint | $19.56/SF/yr Cushman & Wakefield · Q1 2026 | Cushman & Wakefield, Q1 2026 |
| North Loop | $12.68/SF/yr CBRE · Q1 2026 | CBRE, Q1 2026 |
| North Loop/Northwest | $20.85/SF/yr Cushman & Wakefield · Q1 2026 | Cushman & Wakefield, Q1 2026 |
| South Main/Medical Center | $24.78/SF/yr Cushman & Wakefield · Q1 2026 | Cushman & Wakefield, Q1 2026 |
| Southwest | $17.64/SF/yr Cushman & Wakefield · Q1 2026 | Cushman & Wakefield, Q1 2026 |
| Southwest Freeway | $13.76/SF/yr CBRE · Q1 2026 | CBRE, Q1 2026 |
| Sugar Land | $33.14/SF/yr Cushman & Wakefield · Q1 2026 | Cushman & Wakefield, Q1 2026 |
| The Woodlands/Spring | $40.93/SF/yr Cushman & Wakefield · Q1 2026 | Cushman & Wakefield, Q1 2026 |
| West Belt | $29.14/SF/yr Cushman & Wakefield · Q1 2026 | Cushman & Wakefield, Q1 2026 |
| West Loop/Galleria | $34.79/SF/yr Cushman & Wakefield · Q1 2026 | Cushman & Wakefield, Q1 2026 |
| Westchase | $25.32/SF/yr Cushman & Wakefield · Q1 2026 | Cushman & Wakefield, Q1 2026 |
| Woodlands | $29.11/SF/yr CBRE · Q1 2026 | CBRE, Q1 2026 |
Frequently asked questions
- What is the average asking rent for office space in Houston?
- As of Q2 2026, the average asking rent for office space in Houston was $20.29/SF/yr, per CBRE.
- What is the office vacancy rate in Houston?
- The office vacancy rate in Houston was 23.8% as of Q2 2026 (CBRE).
- Where does CREhunt's Houston market data come from?
- This report aggregates quarterly office market data for Houston from CBRE, JLL, Cushman & Wakefield, Partners Real Estate, Newmark, Avison Young, Savills, Colliers.
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