The Arlington office-vacancy rate continues to go in the wrong direction, according to new second-quarter data.
The overall office-vacancy rate countywide was 19.4 percent for the quarter, according to figures reported by CoStar and Arlington Economic Development. That’s up from 18.5 percent in the first quarter and 16.6 percent a year ago.
Increases in vacancy rates were reported in every commercial core area of the county, ranging from 18.5 percent in Virginia Square and 18.9 percent in Crystal City to 25.4 percent in Ballston.
After seeing office-vacancy rates top out at more than 20 percent during the last recession, government officials worked hard to reduce the rate, only to see the impact of COVID again send it spiraling.
(The situation is not limited to Arlington; the office-vacancy rate across Northern Virginia for the second quarter was 16.6 percent, up two full percentage points from a year before.)
Arlington residents could feel the brunt of the vacancy rates in their tax bills next year, as less occupied commercial space means smaller tax bills for office landlords, shifting the burden of funding the government’s $1.4 billion annual spending package to the residential side of the ledger.