The growth of the medical outpatient building sector hit a new high in the fourth quarter of 2025 with a record occupancy rate of 92.7%, according to a recent report by Chicago-based real estate firm Jones Lang LaSalle.
Here are five takeaways from the report:
1. Average rent growth held steady at 3.3% year-over-year.
2. Eight of the 10 fastest-growing healthcare service lines are outpatient-focused, led by endocrinology, psychiatry and physical therapy/rehab.
3. Health systems accounted for 46% of MOB leases tracked by JLL in 2025.
4. Health systems also drove MOB construction in 2025, accounting for 57% of total square footage.
5. Regional performances varied slightly, but markets in Orlando, Fla., San Antonio, Texas, Houston and Dallas-Forth Worth led the expansion through population growth and health system expansion strategies.
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