Pittsburgh Office Market Report
By CREhunt Research · Data through Q2 2026 · Aggregated from CBRE, Cushman & Wakefield, Newmark, JLL, Colliers
Quarterly office market indicators for Pittsburgh, aggregated by CREhunt from CBRE, Cushman & Wakefield, Newmark, JLL, Colliers. As of Q2 2026, average asking rent was $27.16/SF/yr and vacancy was 17.7%, per CBRE.
Projected current office pricing — Pittsburgh
Modeled estimate (income approach) shown as a range — not an appraisal. No market-specific cap rate is published for Pittsburgh 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 held flat). Assumes ~83% occupancy and a 50–65% net-operating-income margin.
| Quarter | Asking rent | Vacancy | Net absorption | Under constr. | Source |
|---|---|---|---|---|---|
| Q2 2026 CBRE | $27.16/SF/yr | 17.7% | 297K SF | — | CBRE |
| Q2 2026 Cushman & Wakefield | $26.06/SF/yr | 17.3% | -312K SF | 16 SF | Cushman & Wakefield |
| Q2 2026 Newmark | — | 24.1% | 124K SF | — | Newmark |
| Q1 2026 Cushman & Wakefield | $25.77/SF/yr | 17.4% | -251K SF | 1 SF | Cushman & Wakefield |
| Q1 2026 CBRE | $26.74/SF/yr | 17.6% | — | 387K SF | CBRE |
| Q1 2026 JLL | $27.35/SF/yr | 22.1% | -17K SF | — | JLL |
| Q4 2025 Cushman & Wakefield | $25.62/SF/yr | 17.3% | 35K SF | 1 SF | Cushman & Wakefield |
| Q4 2025 Newmark | $29.54/SF/yr | 24.4% | — | — | Newmark |
| Q3 2025 Newmark | $29.55/SF/yr | 24.5% | 112K SF | — | Newmark |
| Q3 2025 Cushman & Wakefield | $25.61/SF/yr | 17.3% | 76K SF | 0 SF | Cushman & Wakefield |
| Q2 2025 Newmark | $26.71/SF/yr | 25.0% | — | — | Newmark |
| Q1 2025 Newmark | $26.63/SF/yr | 25.0% | — | — | Newmark |
| Q1 2025 Colliers | — | 0.6% | -34K SF | — | Colliers |
| Q4 2024 Newmark | $29.33/SF/yr | 24.4% | — | — | Newmark |
| Q3 2024 Newmark | $26.15/SF/yr | 24.5% | — | — | Newmark |
| Q2 2024 Newmark | $21.86/SF/yr | 24.5% | — | — | Newmark |
| Q1 2024 Newmark | $26.15/SF/yr | 24.3% | — | — | Newmark |
| Q4 2023 Newmark | — | 24.1% | — | — | Newmark |
| Q3 2023 Newmark | $26.12/SF/yr | 24.0% | — | — | Newmark |
| Q2 2023 Newmark | $29.13/SF/yr | 23.9% | — | — | Newmark |
| Q1 2023 Newmark | $25.93/SF/yr | 23.4% | -659K SF | — | Newmark |
| Q4 2022 Cushman & Wakefield | $25.98/SF/yr | 13.9% | 115K SF | — | Cushman & Wakefield |
| Q4 2022 Newmark | $24.78/SF/yr | 21.8% | 81K SF | — | Newmark |
| Q3 2022 Newmark | $25.79/SF/yr | 22.0% | — | — | Newmark |
Office asking rents by submarket
The newest asking rent a named brokerage's report published for each Pittsburgh 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 |
|---|---|---|
| Armstrong County | $13.00/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Beaver County | $15.00/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Butler County | $22.43/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| CBD | $28.52/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Cranberry | $23.71/SF/yr CBRE · Q1 2026 | CBRE, Q1 2026 |
| Downtown Fringe | $28.53/SF/yr CBRE · Q1 2026 | CBRE, Q1 2026 |
| East End | $36.86/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Fayette County | $14.00/SF/yr Cushman & Wakefield · Q1 2026 | Cushman & Wakefield, Q1 2026 |
| Greater CBD | $25.93/SF/yr Cushman & Wakefield · Q3 2025 | Cushman & Wakefield, Q3 2025 |
| Greater Downtown | $26.40/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Monroeville | $17.81/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| North Pittsburgh | $22.58/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Northeast Pittsburgh | $17.05/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Oakland | $32.20/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Oakland/East End | $40.40/SF/yr CBRE · Q1 2026 | CBRE, Q1 2026 |
| Parkway East | $19.07/SF/yr CBRE · Q1 2026 | CBRE, Q1 2026 |
| Parkway East Corridor | $20.09/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Parkway North | $21.51/SF/yr CBRE · Q1 2026 | CBRE, Q1 2026 |
| Parkway West | $24.12/SF/yr CBRE · Q1 2026 | CBRE, Q1 2026 |
| Parkway West Corridor | $23.43/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| South | $20.09/SF/yr CBRE · Q1 2026 | CBRE, Q1 2026 |
| South Pittsburgh | $20.10/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Southpointe | $21.06/SF/yr CBRE · Q1 2026 | CBRE, Q1 2026 |
| Washington County | $20.46/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| West Pittsburgh | $24.33/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Westmoreland County | $15.35/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
How the brokerage sources compare
For Q2 2026, the brokerages CREhunt aggregates for Pittsburgh office did not fully agree. Asking-rent estimates differ by $1.10/SF/yr — from $26.06/SF/yr to $27.16/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 | 17.3% | $26.06/SF/yr | — |
| Newmark | 24.1% | — | — |
| CBRE | 17.7% | $27.16/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 Pittsburgh?
- As of Q2 2026, the average asking rent for office space in Pittsburgh was $27.16/SF/yr, per CBRE.
- What is the office vacancy rate in Pittsburgh?
- The office vacancy rate in Pittsburgh was 17.7% as of Q2 2026 (CBRE).
- Where does CREhunt's Pittsburgh market data come from?
- This report aggregates quarterly office market data for Pittsburgh from CBRE, Cushman & Wakefield, Newmark, JLL, Colliers.
- How much do brokerage estimates differ for office space in Pittsburgh?
- For Q2 2026, the brokerage sources CREhunt aggregates for Pittsburgh did not fully agree. Asking-rent estimates differ by $1.10/SF/yr — from $26.06/SF/yr to $27.16/SF/yr. CREhunt reconciles these into a single consensus median rather than relying on any one brokerage.