sub·​mar·​ket ˈsəb-ˌmär-kət How to pronounce submarket (audio)
variants or sub-market
plural submarkets or sub-markets
: a portion or subdivision of a market
a profitable submarket of the banking industry
… is one of several local travel agencies, and several dozen around the country, that belong to a little known sub-market that sells tickets on international flights for … up to 70 percent off the normal cost of a one-way ticket.Bernie Kohn

Examples of submarket in a Sentence

Recent Examples on the Web Of course even within a market, there are huge differences from submarket to submarket. Brad Hunter, Forbes, 16 Feb. 2024 There weren’t a lot of new offices built there compared to larger submarkets in the Charlotte region with more construction activity — and the highest office vacancy rates. Chase Jordan, Charlotte Observer, 5 Feb. 2024 In Miami, the downtown is facing a huge pipeline relative to the demand, but Hunter Housing Economics’ market studies show that the demand is expected to be high enough to absorb the supply over the next four years in other urban Miami submarkets such as Wynwood, Edgewater, and Miami Beach. Brad Hunter, Forbes, 16 Feb. 2024 Out of the top submarkets in the region with at least 3 million square feet of office space, the lowest vacancy rates were in South Charlotte (6.9%), Midtown/Randolph (8.4%) and Matthews (8.9%). Chase Jordan, Charlotte Observer, 5 Feb. 2024 The majority of the office inventory in those submarkets is comprised of smaller offices, McShane said. Chase Jordan, Charlotte Observer, 5 Feb. 2024 The submarket around the upper Dallas North Tollway and West Plano has an even higher vacancy rate than downtown — 27.2% in March, according to CoStar. Dallas News, 17 Mar. 2022 Most of the new space is in the warehouse submarkets, which gained 311,760 square feet overall in the first half of 2023. Serenah McKay, Arkansas Online, 3 Oct. 2023 Drawbridge is building a three-story, 82,000 square-foot building that can accommodate an electronics lab, and is tailored to the types of large firms already dominant in the office submarket. Jennifer Van Grove, San Diego Union-Tribune, 30 Mar. 2022

These examples are programmatically compiled from various online sources to illustrate current usage of the word 'submarket.' Any opinions expressed in the examples do not represent those of Merriam-Webster or its editors. Send us feedback about these examples.

Word History

First Known Use

1880, in the meaning defined above

Time Traveler
The first known use of submarket was in 1880

Dictionary Entries Near submarket

Cite this Entry

“Submarket.” Dictionary, Merriam-Webster, Accessed 23 May. 2024.

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