2nd Quarter 2026 Jefferson County
In the second quarter of 2026, Jefferson County’s commercial real estate market showed generally stable conditions, with improving vacancy in the multi-family, office and industrial sectors. Retail lease rates continued to rise, while industrial rents softened modestly. NavPoint Real Estate Group’s latest market update reflects steady demand across much of the county, alongside continued shifts in pricing and availability.
Multi-Family Market:
The multi-family sector reported an average lease rate of $2.07 per square foot and a vacancy rate of 8.4%. Lease rates declined from $2.17 per square foot in the first quarter, while vacancy improved slightly from 8.5%, indicating stable occupancy despite softer rental pricing.
Retail Market:
Retail space posted an average lease rate of $24.75 per square foot and a vacancy rate of 5.19%. Lease rates increased from $24.57 per square foot in the previous quarter, while vacancy edged higher from 5.05%, reflecting continued pricing strength alongside a modest increase in available space.
Office Market:
Office properties recorded an average lease rate of $26.45 per square foot, up slightly from $26.35 in the first quarter, while vacancy declined from 11.7% to 11.4%. The combination of rising lease rates and improving occupancy points to relatively stable conditions within Jefferson County’s office market.
Industrial Market:
The industrial sector reported an average lease rate of $13.58 per square foot and a vacancy rate of 5.6%. Lease rates declined from $13.83 per square foot in the previous quarter, while vacancy improved from 5.9%, suggesting continued absorption despite some moderation in rental pricing.
Overall, Jefferson County experienced generally stable commercial real estate conditions in the second quarter of 2026. Multi-family, office and industrial all recorded modest improvements in occupancy, while retail continued to show rental rate growth. Although pricing softened in the multi-family and industrial sectors, the broader market remains relatively balanced as Jefferson County moves through 2026.
