One of the Lowest Class A, Central Business District Office Rates

With an average Class A office rent of approximately $27.29/square foot, Greater Philadelphia offers companies one of the lowest rental rates among the major U.S. metropolitan markets.

• Greater Philadelphia also had one of the lower rental rates for Class B office space among the largest Metro areas in 2009q3 at $23.02/square foot.
• The region’s residential housing market has not been hit as hard as in other large metro areas where large price declines continue. According the Federal Housing Finance Agency’s purchase-only Housing Price Index (HPI) for the Philadelphia Division in 2009q3, the average price of an existing single family home was down 4% year-over year, just above 3.8% decline for the U.S.

Source: Grubb & Ellis, 2009, 2010.