Navy Yard is a prime-tier Philadelphia submarket with average asking rent around $42/sqft/yr.

  • Average asking rent: $42/sqft/yr.
  • Tier: prime.
  • Citywide Class A rent context: $38/sqft/yr ($38 USD).
  • Citywide vacancy: 21.6% — submarket-level availability is typically tighter at prime tier.

Navy Yard, Philadelphia office rents and availability

Navy Yard is a prime-tier Philadelphia submarket with average asking rent around $42/sqft/yr.

TL;DR

  • Average asking rent: $42/sqft/yr.
  • Tier: prime.
  • Citywide Class A rent context: $38/sqft/yr ($38 USD).
  • Citywide vacancy: 21.6% — submarket-level availability is typically tighter at prime tier.

Where rent sits

Navy Yard averages around $42/sqft/yr for Class A, against a citywide Class A index of 38. As a prime submarket, rent runs at or above city average with mostly tight availability.

Availability dynamics

Master-planned campus on the Delaware. Corporate HQs, life sciences, manufacturing R&D, clean tech.

Key facts

cityPhiladelphia
submarketNavy Yard
tierprime
averageRentLocal$42/sqft/yr
cityClassARentUsd$38/sqft/yr
cityVacancyPct21.6%

Frequently asked questions

What is the average Class A rent in Navy Yard, Philadelphia?
Around $42/sqft/yr. The citywide Class A index sits at $38/sqft/yr.

Related

Editorial provenance

Reviewed by Miriam Hollander — Lead market analyst. Last updated 2026-04-15. See our methodology and editorial standards.

Primary sources for this page

Full sources index · Submit a correction

Related topics