West Palm Beach office market could see single digit vacancy rate before 2030

West Palm Beach’s office market has gained notable momentum in recent years, driven by increased investor and occupier activity. With a vacancy rate of 14.0% as of early 2026, it is currently the tightest market in the state, narrowly ahead of Miami (14.3%).
Since 2010, West Palm Beach has averaged roughly 235k square feet of annual absorption. Assuming a baseline of 200k sf per year, vacancies would reach single digits by 2032. However, stronger demand could accelerate this timeline to 2029 at 400k sf annual, and as early as 2028 at 600k sf.
With significant supply in the pipeline, vacancies may rise upon delivery but should stabilize quickly as premium space is absorbed. Overall, Palm Beach is well positioned to record strong fundamentals and could see itself becoming one of the tightest office markets in the nation.

February 18, 2026

US-FL-WPB West Palm Beach