Office Vacancy Rates Reach Highest Level Since 1990s, Amid Return-to-Office Push

Office occupancy rates in the U.S. have reached a post-pandemic high of 54.2%, driven by a return-to-office push from employers, including the White House. Despite this increase, the landscape remains varied, with occupancy peaking at 63.4% on Tuesdays and dropping to 36.7% on Fridays, highlighting the continuing trend of hybrid work. Major cities like Houston and Washington, D.C., have recorded significant gains in office attendance, although some areas still struggle with high vacancy rates, particularly Seattle, which faces an unprecedented 30% vacancy. Many companies, including the Big Four accounting firms, are adopting flexible work arrangements to attract talent amid a CPA shortage. A recent KPMG survey indicates that over 80% of CEOs expect a full return to in-person work within the next three years, reflecting a broader corporate intention to normalize office attendance. However, the shift toward remote work has empowered employees, leading to ongoing debates about the necessity of full-time office presence.