Miami office market reports

Q2 2025

The Miami office market remained resilient through the first half of 2025, despite broader uncertainty within the commercial real estate market. Sales volume declined from a three-year high in Q4 2024, with pricing stabilizing around $162 PSF in Q2 2025. Miami’s unemployment rate rose 40 basis points year-over-year to 2.7%; however, multiple office-using industries recorded year-over-year employment growth. Notably, trade, transportation, and utilities grew 2.4%, and education and health services rose by 2.8%. While the investment sales market cools following a strong year-end, rent growth is expected to continue, fueled by flight to quality as tenants favor high-end space as opposed to lower-classed space offering more attractive lease rates.

$162 psf

Average price per square foot

Across 39 transactions in Q2 2025, Miami’s total office sale volume recorded $99.5M, equating to a price per square foot of $162.

$63.02 fs

Average asking rate

Despite a minor increase in vacancy, rent growth persists in Miami as the market recorded an average asking rate of $63.02 in Q2 2025.

14.6%

Vacancy

Total vacancy has remained stable in 2025, noting a mere growth of 10 basis points from Q1 2025 to Q2 2025.

DOWNLOAD Miami Office report

Your source for the latest Miami office market reports

Get in-depth office market reports from commercial real estate experts in the Greater Miami area. Avison Young advisors look at Miami commercial real estate activities and the latest Miami statistics to provide you expert market research on Miami's office properties.