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.

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