Market
Learn more about the current state of Tysons’ real estate market across the office, residential, retail, and hospitality sectors.
Office
Office
Office Inventory SF
29M
Office
Approved Office SF
18.4M
Office
Office Vacancy
22%
Q3 2024 CoStar
Office
Total Office SF delivered since 2010
4.3M
Office
Avg. Market Asking Rent/SF
$36.97
Q3 2024 CoStar
Office
Avg. Market Sales Price/SF
$266
Q3 2024 CoStar
Office
Growth in Office Rents 2020-2023
7%
Office
% of Office that is Class A
76%
Employment
Annual Employee Visits
Employment
Monthly Employee Visits (Previous 12 Months)
Economy
Office-Using Workers
96K
of the total 116K workers are office using
Office
Net Absorption SF
-231K
Q3 2024 CoStar
Residential
Residential
Residential Inventory SF
17.7M
Residential
Residential Inventory Units
15k
Residential
Residential SF Under Construction
1.3M
Residential
Units Under Construction
1.2K
Demographic
Total Population
29K
Demographic
Projected Avg. Annual Pop. Growth 2023-30
4.6%
Residential
Residential Occupancy
94%
Q3 2024 CoStar
Residential
Affordable Units Under Construction
976
Residential
Avg. Market Asking Rent per SF
$2.98
Q3 2024 CoStar
Residential
Projected Multi-Family Unit growth by 2033
82%
Residential
Total SF Residential delivered since 2010
7.8M
Residential
Distribution of Affordable and Market Rate Units Under Construction
57%
Affordable Units
Residential
Percent Owned and Rented Units
Owned
vs
Rented
Residential
Distribution of Existing Units
Retail
Retail
Retail Inventory SF
5.5M
Square Feet
Retail
Retail SF Under Construction
14.8K
Square Feet
Retail
Avg. Market Asking Rent per SF
$41.91
Q3 2024 CoStar
Retail
Retail Vacancy
2%
Q3 2024 CoStar
Retail
Annual Visitation
Retail
Monthly Visits (Previous 12 Months)
Retail
Origin of Retail Spending
65%
of the $2.4B spent in Tysons emanates from visitors.
Economy
Share of Fairfax County's Total Sales Tax Revenue
10%
Retail
Total Retail Stores
345
Retail
Total Restaurants & Bars
101
Retail
Total Entertainment Venues
42
Retail
Total Grocery Stores
7
Retail
Retail Recovery Index
117%
Q3 2024 Placer.ai
Hospitality
Hotel
Hotel Inventory
16
Hotel
Number of Hotel Rooms
3.9K
Existing Meeting Space
94K
Square Feet
Hotel
Average Occupancy
70%
Q3 2024 CoStar
Hotel
Percentage of Hotel Revenues by Type
Hotel
Average ADR per night
$153.49
Q3 2024 CoStar
Hotel
Average RevPAR
$107.78
Q3 2024 CoStar
Hotel
Over-Night Visitors per Year
510k
Hotel
Over-Night Visitors YoY growth
+17.2%
Hotel
Covid-19 Hotel Recovery
+27%
Since 2021