Office space vacancy rates in major Texas submarkets, U.S. 2021-2023
In Texas, El Paso was the market with the lowest vacancy rate of office space in 2023. As of the first quarter of the year, roughly 10 percent of El Paso office space was vacant compared to about 23 percent in Houston. Dallas, which was the largest office market in Texas, had the second highest vacancy rate. Since the coronavirus pandemic outbreak, the U.S. office sector has suffered an increase in office vacancies.
