North America’s data center market delivered another record performance in the first half of 2025, with vacancy falling to a historic low of 2.3% and strong preleasing activity keeping supply constrained despite macroeconomic and geopolitical uncertainty.

This report explores the supply, demand, pricing, power, and capital markets shaping the region’s data center landscape, with a focus on core hubs such as Northern Virginia and Dallas alongside emerging markets.

Drawing on JLL’s latest research, it examines development pipelines, leasing dynamics, infrastructure constraints, and investment trends to help operators, investors, and occupiers understand where growth opportunities, and structural bottlenecks, will persist through 2030.