Downtown Seattle falters as jobs and businesses exit city: report
Ari Hoffman
Seattle WA
Apr 17, 2026
According to data from CoStar, downtown Seattle office vacancy remained at a post-pandemic peak of 25 percent, and the central business district (CBD) was experiencing the highest office vacancy rate downtown, with a rate of more than 32 percent. The most glaring issue is the office market. According to the report, downtown office and retail vacancy is up to a staggering 35 percent, nearly double the worst levels seen during the Great Recession.
Even more troubling, the report confirms that office demand has been in continuous decline since 2020, with negative absorption signaling companies are still shrinking or exiting their space.
Downtown Seattle still lacks a significant portion of its workforce, with worker activity far below pre-pandemic levels. Even optimistic data shows only a partial return, with worker presence hovering well under historical norms. Instead, the report leans heavily on foot traffic driven by events such as Comic Con, Pride festivals, concerts, and protests, rather than consistent daily activity.
https://thepostmillennial.com/downtown-seattle-falters-as-jobs-and-businesses-exit-city-report#google_vignette
