South Waterfront is a prime-tier Portland (OR) submarket with average asking rent around $38/sqft/yr.

  • Average asking rent: $38/sqft/yr.
  • Tier: prime.
  • Citywide Class A rent context: $32/sqft/yr ($32 USD).
  • Citywide vacancy: 27.8% — submarket-level availability is typically tighter at prime tier.

South Waterfront, Portland (OR) office rents and availability

South Waterfront is a prime-tier Portland (OR) submarket with average asking rent around $38/sqft/yr.

TL;DR

  • Average asking rent: $38/sqft/yr.
  • Tier: prime.
  • Citywide Class A rent context: $32/sqft/yr ($32 USD).
  • Citywide vacancy: 27.8% — submarket-level availability is typically tighter at prime tier.

Where rent sits

South Waterfront averages around $38/sqft/yr for Class A, against a citywide Class A index of 32. As a prime submarket, rent runs at or above city average with mostly tight availability.

Availability dynamics

OHSU-anchored life-sciences submarket. Healthcare (OHSU), life sciences, biotech, university research.

Key facts

cityPortland (OR)
submarketSouth Waterfront
tierprime
averageRentLocal$38/sqft/yr
cityClassARentUsd$32/sqft/yr
cityVacancyPct27.8%

Frequently asked questions

What is the average Class A rent in South Waterfront, Portland (OR)?
Around $38/sqft/yr. The citywide Class A index sits at $32/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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