Downtown Phoenix is a prime-tier Phoenix submarket with average asking rent around $32/sqft/yr.

  • Average asking rent: $32/sqft/yr.
  • Tier: prime.
  • Citywide Class A rent context: $34/sqft/yr ($34 USD).
  • Citywide vacancy: 23.4% — submarket-level availability is typically tighter at prime tier.

Downtown Phoenix, Phoenix office rents and availability

Downtown Phoenix is a prime-tier Phoenix submarket with average asking rent around $32/sqft/yr.

TL;DR

  • Average asking rent: $32/sqft/yr.
  • Tier: prime.
  • Citywide Class A rent context: $34/sqft/yr ($34 USD).
  • Citywide vacancy: 23.4% — submarket-level availability is typically tighter at prime tier.

Where rent sits

Downtown Phoenix averages around $32/sqft/yr for Class A, against a citywide Class A index of 34. As a prime submarket, rent runs at or above city average with mostly tight availability.

Availability dynamics

Repositioned legacy CBD. Government, professional services, healthcare HQs, university research.

Key facts

cityPhoenix
submarketDowntown Phoenix
tierprime
averageRentLocal$32/sqft/yr
cityClassARentUsd$34/sqft/yr
cityVacancyPct23.4%

Frequently asked questions

What is the average Class A rent in Downtown Phoenix, Phoenix?
Around $32/sqft/yr. The citywide Class A index sits at $34/sqft/yr.

Related

Editorial provenance

Reviewed by Class A Atlas Editorial Desk — House byline · global editorial team. Last updated 2026-04-15. See our methodology and editorial standards.

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