What is the size of a township11/14/2023 ![]() Here’s a closer look at the cities with the fastest growing vacancy rates in percentage points (p.p.) terms since just before the COVID-19 pandemic: Rank In short, unless trends begin to reverse, offices in many cities will stay empty or continue getting emptier. workers who can work from home in 2023 are already doing so all the time. office spaces will be obsolete.Īccording to Pew Research Center, around 35% of U.S. It is anticipated that by 2030, over 300 million square feet of U.S. been impacted? This ranking uses data out of fDi Intelligence to rank the top 10 cities that have seen the biggest increases in office vacancy rates from Q4’2019 to Q1’2023. At the end of March 2023, the national average vacancy rate of U.S. Long story short, more and more offices in major U.S. Cities with the Most Vacant Officesįor many across the U.S., hour-long transit rides and traffic jams to work have been replaced by roll-out-of-bed commutes and stand-up desks at home, leaving vacant offices behind. start to resemble more densely populated regions in the future? Will America hold onto its spacious way of living, or could life in the U.S. population continues to become more urbanized, living conditions in America could get even tighter. ![]() Lot sizes remain relatively large in some states for now, but as the U.S. Not surprisingly, the median plot of land in Hawaii costs $110.86 per square foot, the most expensive on the list. Like anything else that’s for sale, the price of a lot is governed largely by the laws of supply and demand.įor example, housing supply is scarce in Hawaii, where only 4.9% of the land is zoned for residential development, and the median home size is much smaller than in other parts of the country. Of course, other factors are at play here when it comes to the cost of land. ![]() On the flip side, in Nevada, land sold for a median $82.80 per square foot-that’s the third most expensive of any state. For instance, in Vermont, properties sold for a median $5.95 per square foot. Generally speaking, the states with the biggest lots also tend to have the cheapest land when broken down per square foot. Newer homes listed in the dataset tend to have smaller lot sizes, and in Nevada, 34.6% of homes included in the research were built in 2000 or later. One possible explanation is that Nevada’s population boom-and subsequent development-is relatively recent. ![]()
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