2022 “STATE OF THE STRIP DISTRICT”

11,245 workers

2.975M SF of rentable office space

1.26M SF of office space in the pipeline

Fringe Class A average asking rate: $29.25 per SF
(1Q 2022, CBRE)*

Fringe Class B average asking rate: $23.14 per SF
(1Q 2022, CBRE)*

2,571 residents

233% increase in residents since 2015
(310% since 2010)

1,862 residential units

1,649 residential units in the pipeline

Average rents:
Studio: $1,438
One-bedroom: $1,890
Two-bedroom: $2,674

$831,574 median sale price of a home

2.5M annual visitors to the Penn Avenue Business
District (2021)

8 new businesses (2021–2022)

16 new businesses in the pipeline (2021–2022)

2 business closings (2021–2022)

427 hotel rooms

140 hotel rooms in the pipeline