Florida among most expensive U.S. metro markets for business rental rates

The Fort-Myers-Cape Coral area saw the biggest jump in business rental rates in the country in the past year, while Florida in general is seeing hikes in the cost of renting space for entrepreneurs.

Outsource2India, a business outsourcing service, conducted the study on business and office space rental prices for the first quarter of 2024.

The Top 10 most expensive business rental space markets were dominated by metropolitan areas in California ,which accounted for four of those 10 areas. The San Jose-Sunnyvale-Santa Clara metro area, which is home to a plethora of technology firms, topped the list, with office rental spaces charging an average of $58 per square foot.

The study analyzed the office and business rental markets in major U.S. metropolitan areas using data sourced from the National Association of Realtors (NAR).