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Montco Remains Region’s Strongest Suburban Economy Amid Shift

Space available sign in building window. — Montco stays the region’s strongest suburban economy, even as Philadelphia narrowly surpasses it in office job share, a new report shows.

Montgomery County continues to anchor the Philadelphia region’s suburban economy, writes Ariana Perez-Castells for The Philadelphia Inquirer.

Montco has stronger office leasing activity than the city and a long record as the top base for office-sector jobs. But a new report from the Center City District shows that Philadelphia has just inched past Montco in job share.

For more than a decade, Montgomery County held the largest portion of office jobs in the region. That changed in 2022, and by 2024, Philadelphia accounted for 32.7% of office jobs compared to Montco’s 31.4%. The margin is slim, but it marks a symbolic shift.

Even so, Montco remains a magnet for employers. Center City District VP Clint Randall calls Montco “the strongest suburban county economically.”

Suburban leasing continues to outpace the city, and vacancy rates are nearly identical — 20.8% in the suburbs versus 20.4% in Philadelphia. Law firms and other professional services, staples of Montco’s office market, are reducing their footprints, but the county’s appeal as a suburban hub remains steady.

While healthcare, hospitality, and entertainment jobs drive regional growth without boosting office demand, Montco’s ability to provide flexible suburban space positions it as Philadelphia’s most direct competitor.

To learn more about regional job trends, visit The Philadelphia Inquirer.