Warehouse Market Reports 2026: Free Vacancy & Rent Data for 28 US & Canadian Metros

This page is WareCRE’s warehouse market report library — free vacancy rates, asking rents, construction pipeline data, and submarket analysis for 28 of the largest industrial real estate markets in the US and Canada. Every report is built on Q1 2026 data from major brokerages and our own marketplace intelligence.

The reports focus on a segment most institutional research ignores: small-bay and flex warehouse space under 50,000 SF. That’s the space where most small businesses, e-commerce operators, and trades actually operate — and where vacancy, pricing, and availability often tell a completely different story than the metro-wide averages you’ll see in a CoStar report or a CBRE national summary.

If you’re a broker advising a client on site selection, an investor benchmarking a market, a tenant evaluating expansion options, or an operator pricing space — start with the metro report below, then use the comparison table to benchmark against alternative markets.

2026 Warehouse Market Reports by Metro

Each report includes: current vacancy rates, asking rent trends, construction pipeline analysis, submarket-level breakdowns, co-warehousing demand indicators, and a Q2–Q3 2026 outlook. Click any metro to read the full report.

Southeast — 6 Markets

Population growth, port access, and low operating costs continue to pull distribution and manufacturing investment into the Southeast. Florida’s three major metros run below 6% vacancy, while Atlanta absorbs record supply through sheer demand volume.

• Atlanta — 8.1% vacancy, $7.17/SF NNN. Absorbing 53M SF of deliveries; small-bay tight at ~4%.
• Charlotte — I-85 corridor growth driven by banking logistics and manufacturing relocation.
• Raleigh — Research Triangle life sciences and advanced manufacturing hub.
• Tampa — ~4.5% vacancy, $10.50+/SF NNN. Florida’s tightest small-bay market.
• Orlando — 5.7% vacancy, $11.93/SF NNN. Manufacturing growth diversifying the base.
• Miami — ~4.0% vacancy, $14.50+/SF NNN. International trade gateway with structural undersupply.

Texas — 3 Markets

Texas accounts for more industrial inventory than most US states combined. Corporate relocations, population growth, and central geography keep the pipeline active — though Austin’s speculative boom has pushed vacancy above 11%.

• Dallas-Fort Worth — North Texas’ industrial powerhouse; 800M+ SF total inventory.
• Houston — ~7.5% vacancy, $8.50+/SF NNN. Energy, petrochemical, and distribution capital.
• Austin — 11.8% vacancy, $13.82/SF NNN. Tenant-favorable window as massive pipeline absorbs.

Mountain West — 3 Markets

Lower costs and favorable business climates drove rapid expansion, but several Mountain West metros are still digesting speculative supply from the 2022–2024 cycle. Tenants have leverage in Denver and Phoenix that didn’t exist two years ago.

• Denver — 8.1% vacancy, $10.41/SF NNN. Oversupply creating opportunity; small-bay under 4%.
• Phoenix — 11.3% vacancy, $10.27/SF NNN. TSMC-era pipeline absorbing; semiconductor tailwind.
• Salt Lake City — Inland port development and West Coast alternative positioning.

West Coast — 6 Markets

The most expensive and supply-constrained industrial markets in the country. Small-bay vacancy is below 4% across most West Coast metros, and replacement costs make new construction prohibitive without significant rent premiums.

• Los Angeles — 5.2% vacancy, $16.20/SF NNN. The largest and most expensive US industrial market.
• Orange County — ~3.5% vacancy, $17.00+/SF NNN. Structurally tight infill with SoCal premium.
• San Diego — ~6.5% vacancy, $15.00+/SF NNN. Defense, biotech, and cross-border logistics.
• SF Bay Area — ~5.0% vacancy, $14.50+/SF NNN. Tech-economy demand against scarce supply.
• Portland — ~7.0% vacancy, $10.50+/SF NNN. Pacific Northwest distribution and semiconductor corridor.
• Seattle — ~6.0% vacancy, $13.50+/SF NNN. E-commerce logistics and aerospace manufacturing.

Midwest — 5 Markets

Inland distribution hubs captured the majority of Q1 2026 industrial absorption nationally. The Midwest’s combination of central logistics access, affordable rents, and transportation infrastructure is pulling demand away from coastal markets. Omaha’s 2.4% vacancy is the lowest of any metro we track.

• Chicago — ~7.5% vacancy, $8.50+/SF NNN. The nation’s freight crossroads; 1.4B SF total inventory.
• Indianapolis — ~6.0% vacancy, $5.50+/SF NNN. Crossroads of America; among the lowest rents nationally.
• Minneapolis — ~5.5% vacancy, $8.00+/SF NNN. Upper Midwest logistics and manufacturing base.
• Des Moines — ~7.0% vacancy, $6.90/SF NNN. I-80/I-35 crossroads, 32% below national avg. rent.
• Omaha — 2.4% vacancy, $7.49/SF NNN. One of the tightest industrial markets in the United States.

Northeast & Mid-Atlantic — 3 Markets

Dense population centers with constrained land supply create premium pricing and persistent demand. Port access and proximity to 50+ million consumers within a day’s drive make these markets structurally different from the rest of the country.

• New York City — ~4.0% vacancy, $18.00+/SF NNN. The most supply-constrained metro with last-mile premiums.
• Philadelphia — ~7.0% vacancy, $9.50+/SF NNN. I-95 corridor logistics with port-driven demand.
• Washington DC (DMV) — 6.3% vacancy, $10–20/SF NNN. Data center construction reshaping the industrial base.

Canada — 2 Markets

Tighter land constraints and the looming July 2026 CUSMA review add variables that don’t exist in US markets. Toronto’s vacancy is at an 11-year high while Calgary remains among the tightest markets in North America.

• Toronto (GTA) — 5.1% vacancy, C$16.49/SF net. Rents flat after 7 consecutive quarterly declines; pipeline down 52%.
• Calgary — 5.2% overall / ~3.0% warehouse-specific, C$10.49/SF net. Energy transition creating new demand.

Warehouse Vacancy Rates & Rental Rates: 28-Metro Comparison

This is the snapshot. Vacancy rates and average asking rents for every metro WareCRE covers, sorted by region. Click any metro to read the full report with submarket data, construction pipeline, and outlook. Bookmark this table — we refresh it as new market data is released.

Data from Q1 2026 brokerage reports (Cushman & Wakefield, CBRE, Colliers, JLL) and WareCRE marketplace data. Metros showing “—” don’t yet have current published rent data; we add figures as new market data is released. All rents NNN or equivalent unless noted. See our price-per-square-foot guide for more detailed rent analysis.

3 Forces Reshaping Warehouse Demand in 2026

The Small-Bay Vacancy Gap Is Widening

National industrial vacancy hit 7.0%, but that headline is misleading. Big-box space (100,000+ SF) is driving the increase as speculative construction delivers. Meanwhile, small-bay and multi-tenant warehouse product — the sub-20,000 SF space where most small businesses operate — remains significantly tighter in nearly every metro we cover. In Atlanta, overall vacancy is 8.1% but small-bay is ~4%. In Denver, it’s 8.1% vs. sub-4%. This bifurcation has direct implications for how you read any market report. Full analysis: Small-Bay vs. Big-Box: What the Vacancy Gap Means in 2026.

Tariff Uncertainty Is Rerouting Supply Chains

Trade policy is reshaping where companies put warehousing and manufacturing. Inland markets with affordable land, labor, and logistics infrastructure are capturing reshoring-driven demand. Port-adjacent markets face volatility from shifting trade flows. Every metro report in this library addresses how tariffs are affecting that specific market. The macro view: How Tariffs Are Reshaping Warehouse Demand in 2026.

Inland Markets Are Winning the Absorption Race

Inland distribution hubs captured the majority of Q1 2026 national industrial absorption. Markets like Omaha (2.4% vacancy), Indianapolis, Des Moines, and the Texas metros are structurally benefiting from the shift toward cost-efficient, centrally located logistics networks. This isn’t cyclical — it’s a structural rebalancing of where distribution happens in the US. For the macro context: Industrial Real Estate Trends & Outlook 2026.

National Industrial Market Outlook: Q2–Q3 2026

The industrial market is transitioning from oversupply absorption to a more balanced state. Construction starts have fallen significantly from the 2022 peak, meaning new competitive supply thins through late 2026 and into 2027. Markets that have already worked through their spec cycles — particularly in the Midwest and parts of the Southeast — are positioned for tightening fundamentals and upward rent pressure.

Three variables to watch: tariff policy outcomes will determine whether reshoring demand accelerates or stalls. Interest rate trajectory will influence both construction starts and investment activity. And the small-bay/big-box divergence will continue creating very different dynamics within the same metro depending on the size segment you’re evaluating. For the full analysis, read our Industrial Real Estate Trends & Outlook 2026.

Industrial Real Estate Research & Guides