Office visitation rates increasing to align with occupancy rates in Fairfield County

Leased Office Space vs. Office Visitation Volume

 

• Since experiencing its lowest value to date in Q3 2020, Fairfield County office visitation numbers have been slowly trending back to historical values, with offices being 77.60% as busy in Q3 2024 as that of Q3 2019.

 

• In addition to this, the current office occupancy rate sits at 78.75%, resulting in just a 11.5 basis-point difference with the busyness index. This low difference means most of the leased office space in the market is being occupied, and not sitting empty like it was directly following the Covid-19 pandemic.

 

• Although offices have not completely returned to full activity, the positive trend seen here is an optimistic sign for future office usage.

 

August 22, 2024

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