The 2026 National Office Market Index is led by Southeastern metros, where strong job growth in traditional office-using sectors and high concentrations of white-collar employment continue to support demand fundamentals, according to Marcus & Millichap. Markets such as Miami-Dade and Charlotte, N.C., stand out for corporate expansion, while New York City ranks first overall, reflecting its scale of talent and employers and a notable recovery since the pandemic. Although vacancy rates in many regions remain above long-term averages, every U.S. region is represented in the index’s top 20.
Nationally, the office sector reached an inflection point in 2024 and recorded an encouraging stretch of demand last year, with absorption approaching 2019 levels and occupancy gains in 43 of the 50 major markets. Vacancy remains historically elevated, however, and performance continues to diverge at the property level, even as new supply pressure stays limited due to widespread construc
