Boston ($78/sqft, 19.5% vacancy) and Seattle ($52/sqft, 26.4% vacancy) compete on different axes: Boston on talent depth and Seattle on rent and tax.
Boston ($78/sqft, 19.5% vacancy) and Seattle ($52/sqft, 26.4% vacancy) compete on different axes: Boston on talent depth and Seattle on rent and tax.
| Metric | Boston | Seattle |
|---|---|---|
| Region | Americas | Americas |
| Country | United States | United States |
| Class A rent (USD/sqft/yr) | $78 | $52 |
| Class A rent (local) | 78 USD | 52 USD |
| Vacancy | 19.5% | 26.4% |
| Trend | flat | softening |
| Prime yield | 6.2% | 6.7% |
| Premium flex / seat / month (USD) | $1,140 | $940 |
| Submarkets covered | 6 | 5 |
| Corporate tax | 28% | 21% |
| Metric | Boston | Seattle |
|---|---|---|
| Typical term | 10 yrs | 10 yrs |
| Typical rent-free | 18 mos | 16 mos |
| Lease norms | Modified-gross with op-ex escalations. Rent-free 18-24 months on 10-year term standard. Lab leases carry distinct economics — base rent plus operating expenses plus utilities pass-through. | Modified-gross structures with operating-expense pass-throughs. 10-12 year terms standard for trophy. Free rent of 12-18 months and TI of $100-$150/sqft typical on a 10-year deal. |
| Tax note | Combined federal + Massachusetts corporate tax 28%. | 21% federal corporate income tax. No Washington State corporate income tax. Washington B&O tax applies to gross receipts (rates vary by activity). Seattle JumpStart payroll expense tax applies to tenants with $7M+ payroll. |
| Metric | Boston | Seattle |
|---|---|---|
| Talent index (0–100) | 95 | 92 |
| Talent note | Deepest STEM and life-sciences talent pool in the US — anchored by MIT, Harvard, BU. Average all-in compensation indexes 95. | Deepest cloud, AI, and SaaS engineering talent pool in North America. UW and a deep network of T-1 engineering programs feed. Cost-of-living advantage versus Bay Area is structural. |
Boston: MBTA subway, commuter rail, and Logan Airport access. Silver Line connects the Seaport to South Station.
Seattle: Sound Transit Link light rail (1 Line) extended in 2024 to Lynnwood; East Link to Bellevue / Redmond opening 2025-26. Streetcar serves South Lake Union. King County Metro bus network anchors local commute.
Seattle is the cheaper Class A market on a USD basis.
Boston has the deeper talent index (95/100 vs 92/100).
Seattle has the lower headline corporate tax (21% vs 28%). Local incentives can change the effective rate materially.
Boston typical term is 10 years with 18 months free; Seattle runs 10 years with 16 months free.
Boston: MBTA subway, commuter rail, and Logan Airport access. Silver Line connects the Seaport to South Station. Seattle: Sound Transit Link light rail (1 Line) extended in 2024 to Lynnwood; East Link to Bellevue / Redmond opening 2025-26. Streetcar serves South Lake Union. King County Metro bus network anchors local commute.
Score Boston, Seattle 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.