Baltimore Office Market Report
By PropZone Research · Data through Q1 2026 · Aggregated from Cushman & Wakefield, CBRE, Brexton CRE (Baltimore
Quarterly office market indicators for Baltimore, aggregated by PropZone from Cushman & Wakefield, CBRE, Brexton CRE (Baltimore. As of Q1 2026, average asking rent was — with a 15.0% vacancy rate.
Projected current office pricing — Baltimore
low confidenceProjected asking rent
$26.78/SF/yr
Estimated sale value
$164–$214/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 Q4 2025 CBRE data (cap rate 7.5%, asking rent held flat). Assumes ~92% occupancy (vacancy not reported) and a 50–65% net-operating-income margin.
| Quarter | Asking rent | Vacancy | Net absorption | Under constr. | Source |
|---|---|---|---|---|---|
| Q1 2026 | — | 15.0% | 384K SF | — | Cushman & Wakefield |
| Q4 2025 | $26.78/SF | — | — | — | CBRE |
| Q4 2025 | $26.78/SF | — | — | — | Brexton CRE (Baltimore |
| Q3 2025 | — | — | 94K SF | — | Cushman & Wakefield |
| Q3 2023 | $29.00/SF | 16.6% | — | — | Cushman & Wakefield |
| Q4 2020 | — | — | — | — | Cushman & Wakefield |
| Q3 2020 | $23.18/SF | — | 0K SF | — | Cushman & Wakefield |
Frequently asked questions
- What is the average asking rent for office space in Baltimore?
- PropZone aggregates office asking-rent data for Baltimore from major brokerage market reports; see the quarterly table for the latest available figures.
- What is the office vacancy rate in Baltimore?
- The office vacancy rate in Baltimore was 15.0% as of Q1 2026 (Cushman & Wakefield).
- Where does PropZone's Baltimore market data come from?
- This report aggregates quarterly office market data for Baltimore from Cushman & Wakefield, CBRE, Brexton CRE (Baltimore.
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