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Suburban rent growth playing catch-up

​In 2006, the spread between CBD and suburban average asking rents was a mere 1.8 percent. In 2016, the spread stands at 38.4 percent, with CBD rents escalating rapidly and suburban rents lacking any real direction until 2013.

CBD average asking rents have grown 40.8 percent since their previous peak in 2008. Suburban rents have grown at less than half the CBD’s pace at 14.3 percent.

In 2016 rent growth in the suburbs outpaced the CBD for the first time in 10 years, growing at 6.6 percent versus 5.4 percent, a signal that the suburbs are poised for a period of strong rent growth.

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