Cincinnati Office Market Report
By PropZone Research · Data through Q1 2026 · Aggregated from Colliers, CBRE, Cushman & Wakefield, Newmark, Lee Associates
Quarterly office market indicators for Cincinnati, aggregated by PropZone from Colliers, CBRE, Cushman & Wakefield, Newmark, Lee Associates. As of Q1 2026, average asking rent was $5.35/SF with a 10.7% vacancy rate.
Projected current office pricing — Cincinnati
low confidenceProjected asking rent
$20.68–$20.89/SF/yr
Estimated sale value
$124–$163/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 Q1 2026 multiple brokerages data (cap rate 7.7%, 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 |
|---|---|---|---|---|---|
| Q1 2026 | $5.35/SF | 10.7% | 255K SF | — | Colliers |
| Q1 2026 | $20.63/SF | — | — | — | CBRE |
| Q1 2026 | $20.73/SF | 26.0% | -1K SF | — | Cushman & Wakefield |
| Q4 2025 | $20.42/SF | 1.9% | — | — | Newmark |
| Q4 2025 | $20.54/SF | — | — | — | CBRE |
| Q4 2025 | — | — | -1K SF | — | Cushman & Wakefield |
| Q3 2025 | $20.69/SF | 22.9% | — | — | Newmark |
| Q2 2025 | $94.80/SF | — | — | — | Newmark |
| Q2 2025 | — | 7.5% | 0K SF | — | Lee Associates |
| Q1 2025 | $90.00/SF | — | — | — | Newmark |
| Q4 2024 | $22.04/SF | — | — | — | Newmark |
| Q3 2024 | — | — | 73K SF | — | Newmark |
| Q2 2024 | $22.18/SF | — | — | — | Newmark |
| Q1 2024 | $22.18/SF | — | — | — | Newmark |
| Q4 2023 | $20.17/SF | — | — | — | Newmark |
| Q3 2023 | $21.01/SF | 25.0% | -1K SF | — | Cushman & Wakefield |
| Q1 2023 | $20.55/SF | 14.0% | — | — | Newmark |
| Q4 2022 | $20.39/SF | 14.0% | — | — | Newmark |
| Q3 2022 | $20.35/SF | 27.7% | — | — | Newmark |
| Q2 2022 | $20.08/SF | 24.5% | — | — | Newmark |
Frequently asked questions
- What is the average asking rent for office space in Cincinnati?
- As of Q1 2026, the average asking rent for office space in Cincinnati was $5.35/SF, per Colliers.
- What is the office vacancy rate in Cincinnati?
- The office vacancy rate in Cincinnati was 10.7% as of Q1 2026 (Colliers).
- Where does PropZone's Cincinnati market data come from?
- This report aggregates quarterly office market data for Cincinnati from Colliers, CBRE, Cushman & Wakefield, Newmark, Lee Associates.
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