2023 “STATE OF THE STRIP DISTRICT”
By the Numbers
OFFICE & EMPLOYMENT
9,181 workers
2.975M SF of rentable office space
842K SF of office space in the pipeline
Fringe Class A average asking rate: $30.83 per SF
(1Q 2023, CBRE)*
Fringe Class B average asking rate: $24.26 per SF
(1Q 2023, CBRE)*
HOUSING & POPULATION
3,214 residents
233% increase in residents since 2015 (422% since 2010)
2,297 residential units
2,132 residential units in the pipeline
Average rents:
Studio: $1,520
One-bedroom: $1,890
Two-bedroom: $2,832
RETAIL & HOSPITALITY
6.99M annual visitors* to the Penn Avenue Business District (2022)
17 new businesses (2022–2023)
11 new businesses in the pipeline (2022–2023)
2 business closings (2023–2023)
427 hotel rooms
140 hotel rooms in the pipeline
TRANSPORTATION
5 Pittsburgh Regional Transit bus routes operate through the
Strip District
6,302 public off-street parking spaces
900 public off-street parking spaces in the pipeline
$12.75 average daily parking rate
$195 average monthly parking rate
Walk Score: 76 most errands can be accomplished by foot
Transit Score: 59 many nearby public transportation options
Bike Score: 82 biking convenient for most trips
*Visitor data is sourced from Placer.ai. Employees working in-person less than 4-days per week are counted as visitors.
Employee data represent estimates taken Monday – Friday and exclude major U.S. holidays.
VIEW COMPLETE SOSD REPORT
