Miami ($78/sqft, 11.8% vacancy) and Seattle ($52/sqft, 26.4% vacancy) compete on different axes: Miami on rent and tax and Seattle on talent depth.
Miami ($78/sqft, 11.8% vacancy) and Seattle ($52/sqft, 26.4% vacancy) compete on different axes: Miami on rent and tax and Seattle on talent depth.
| Metric | Miami | 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 | 11.8% | 26.4% |
| Trend | rising | softening |
| Prime yield | 5.4% | 6.7% |
| Premium flex / seat / month (USD) | $920 | $940 |
| Submarkets covered | 5 | 5 |
| Corporate tax | 21% | 21% |
| Metric | Miami | Seattle |
|---|---|---|
| Typical term | 7 yrs | 10 yrs |
| Typical rent-free | 9 mos | 16 mos |
| Lease norms | 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. | 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 | 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. | 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 | Miami | Seattle |
|---|---|---|
| Talent index (0–100) | 78 | 92 |
| Talent note | 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. | 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. |
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.
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.
Seattle has the deeper talent index (92/100 vs 78/100).
Tax rates are tied.
Miami typical term is 7 years with 9 months free; Seattle runs 10 years with 16 months free.
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. 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 Miami, 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.