The Most Expensive Street in the Nation Is...

Jan 16, 2018

When it comes to the priciest office rents, coastal markets dominate this aspect of the commercial real estate industry.

In a new study issued by JLL Research, nine of the 10 most expensive streets for office rent are either in West or East Coast metro areas. San Francisco’s Sand Hill Road (where rents average $119.38 per square foot) and Mission Street ($93.68 per square foot) ranked first and third, while New York’s Fifth Avenue ($116.04 per square foot) ranked in second place. Boston’s Main Street ($90 per square foot) and Greenwich Avenue in the affluent town of Greenwich, Conn. ($86.53 per square foot) placed fourth and fifth.

Rounding out the top 10 were Pennsylvania Avenue in Washington, D.C. ($80 per square foot), Ocean Avenue in Los Angeles ($78.20 per square foot), Boylston Street in Boston ($68.87 per square foot), Royal Palm Way in West Palm Beach ($61.80 per square foot) and, for the sole non-coastal market, Congress Avenue in Austin, Texas ($58.20 per square foot).

JLL pointed out that five of the top 10 expensive streets were located in tech hubs. “As tech companies mature, their space needs begin to mirror those of traditional white-collar industries in these expensive locations,” said Scott Homa, JLL director of U.S. office research. “Sand Hill Road is no longer the only example of this. We see it in cities like Boston, Cambridge and Austin where major tech players have leased large blocks of premium space.”

And it seems that people willing to pay a lot more to have an office on a pricey street. JLL also noted that 12.8 percent of the nation’s most expensive real estate is vacant, which is 250 basis points lower than the U.S. average.

About the author

Phil Hall

Link copied

Published

Jan 16, 2018

Regulation and Compliance

Mortgage AI Survey Finds Monitoring Gap At Smaller Lenders

Only 40% of smaller lenders surveyed reported ongoing AI monitoring, compared with 80% of larger lenders, as a new state examiner guide details the records regulators may request

Mortgage companies have been putting AI policies in place. Keeping watch over the tools after they go live is proving less consistent, particularly among smaller lenders.A new survey by the American Association of Residential Mortgage Regulators (AARMR), the Mortgage Bankers...

Operations

Can AI Crack The Mortgage Approval Gap?

A company white paper links lower decline rates to its AI-enabled workflow, then estimates the potential lending volume if those rates held nationwide.

Mortgage applications processed through AngelAi at Sun West Mortgage had substantially lower decline rates in 2025 than applications in the national market, according to a new company white paper. The gap appeared across Asian, Black, Hispanic, and white applicant groups.Sun...

Oct

Denver, CO

More from

Industry News

Rocket Makes VantageScore Its Default After Testing Finds Borrower Savings

After four months of testing, Rocket will make VantageScore 4.0 its preferred model for eligible retail loans while keeping both scoring options available to brokers

Industry News

Sep 29, 2026

CHLA: More Freddie Mac MBS Buying Could Narrow Mortgage Spreads

Trade group estimates greater Freddie participation could compress spreads another 10 to 12 basis points as Fannie has taken the lead in GSE mortgage-bond buying

Industry News

Sep 23, 2026

Early Loan-Limit Race Splits Into Three Tiers

Lenders are now offering $845,000, $847,440, or $850,000 before FHFA sets the official 2027 limits

Industry News

Sep 23, 2026

Better, Garg Clash Over Claimed 46% Shareholder Support

Better disputes its former CEO’s preliminary consent count as the two sides trade accusations and an Oct. 2 target date approaches

C-Suite Strategies

Sep 23, 2026

Fannie Changes How Rent From A Former Home Counts

Fannie now prohibits leases for departing residences and permits market-analysis tools instead of Form 1007, creating a key documentation difference from Freddie Mac

Regulation and Compliance

Sep 22, 2026