Austin ($60/sqft, 27.8% vacancy) and Miami ($78/sqft, 11.8% vacancy) compete on different axes: Austin on talent depth and Miami on rent and tax.
Austin ($60/sqft, 27.8% vacancy) and Miami ($78/sqft, 11.8% vacancy) compete on different axes: Austin on talent depth and Miami on rent and tax.
| Metric | Austin | Miami |
|---|---|---|
| Region | Americas | Americas |
| Country | United States | United States |
| Class A rent (USD/sqft/yr) | $60 | $78 |
| Class A rent (local) | 60 USD | 78 USD |
| Vacancy | 27.8% | 11.8% |
| Trend | softening | rising |
| Prime yield | 6.8% | 5.4% |
| Premium flex / seat / month (USD) | $720 | $920 |
| Submarkets covered | 5 | 5 |
| Corporate tax | 22.5% | 21% |
| Metric | Austin | Miami |
|---|---|---|
| Typical term | 10 yrs | 7 yrs |
| Typical rent-free | 18 mos | 9 mos |
| Lease norms | Modified-gross structures with opex pass-throughs. 7-10 year terms common; trophy can push to 12-15. Free rent of 14-22 months and TI of $100-$150/sqft typical. | Modified-gross structures dominate; 7-10 year terms are common. Free rent of 6-12 months and TI of $80-$140/sqft typical on a 10-year deal. Personal guarantees common for sub-investment-grade tenants. |
| Tax note | 21% federal corporate income tax. No Texas state income tax. Texas franchise tax of 0.75%. Property tax burden is elevated — model carefully into occupancy cost. | 21% federal corporate income tax; no Florida state corporate income tax for most pass-through structures. Florida assesses a 5.5% corporate income tax on C-corps. No personal income tax. |
| Metric | Austin | Miami |
|---|---|---|
| Talent index (0–100) | 84 | 78 |
| Talent note | Deep tech engineering talent base anchored by UT Austin and a decade of in-migration. Strong concentrations in semiconductors (Tesla, Samsung, NXP), software, and gaming. | Strong bilingual (Spanish-English) finance and legal talent. Deep Latin American banking, asset management, and family-office concentrations. Tech talent is shallower than NY/SF but growing rapidly. |
Austin: Capital Metro bus + MetroRail (single Red Line). Project Connect light rail in early planning. Heavy car dependency outside the central core; downtown trophy tenants increasingly emphasize walkable amenity.
Miami: Metromover (free downtown), Metrorail to Brickell and Government Center, Brightline regional rail, MIA Mover from Miami International Airport. Brickell and Downtown are walkable; Wynwood and Coral Gables remain car-dependent.
Austin is the cheaper Class A market on a USD basis.
Austin has the deeper talent index (84/100 vs 78/100).
Miami has the lower headline corporate tax (21% vs 22.5%). Local incentives can change the effective rate materially.
Austin typical term is 10 years with 18 months free; Miami runs 7 years with 9 months free.
Austin: Capital Metro bus + MetroRail (single Red Line). Project Connect light rail in early planning. Heavy car dependency outside the central core; downtown trophy tenants increasingly emphasize walkable amenity. Miami: Metromover (free downtown), Metrorail to Brickell and Government Center, Brightline regional rail, MIA Mover from Miami International Airport. Brickell and Downtown are walkable; Wynwood and Coral Gables remain car-dependent.
Score Austin, Miami and up to two more markets side-by-side on Class A rent, vacancy, talent, corporate tax, and premium flex pricing — all in USD.
Reviewed by Miriam Hollander — Lead market analyst. Last updated 2026-04-15. See our methodology and editorial standards.