Commercial Real Estate Market in Norwalk, CT
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
185 active listings and 2,269 off-market properties in Norwalk, CT. Commercial property asks $163/SF to buy and $29.93/SF/Yr to lease.
Market Trends
Norwalk, CT spans 23.0 square miles in Fairfield County, Connecticut. Figures below refresh monthly; last updated 31 August 2026.
Office
Office space in Norwalk, CT asks $187/SF to buy. Vacancy runs 19.9% across the Northeast region in 2025, up from 13.1% in 2019.
Average Sale Price $/SF
Listings
Vacancy Rate % in Northeast region
Retail
Retail space in Norwalk, CT asks $189/SF to buy. Vacancy runs 6% across the Northeast region in 2025, little changed from 6% in 2019. Down from a 2020 peak of 7.1%.
Average Sale Price $/SF
Listings
Vacancy Rate % in Northeast region
Industrial
Industrial vacancy in Norwalk, CT runs 7.6% across the Northeast region in 2025, up from 5.4% in 2019. Nearly 2.4x the 2021 low of 3.2%.
Vacancy Rate % in Northeast region
Multifamily
Multifamily space in Norwalk, CT asks $229/SF to buy. Vacancy runs 5.6% across the Northeast region in 2025, up from 4% in 2022.
Average Sale Price $/SF
Listings
Vacancy Rate % in Northeast region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Civic 63.6%
- Residential 29.5%
- Industrial 3.4%
- Mixed use 3.1%
- Commercial 0.4%
Largest Zones share of zoned land by district
Suburban Medium Lot Community District
Suburban Large Lot Community District
Suburban Single Family Community District
Civic District
Suburban Single And Two Family Community District
Civic District (CV)
CV Commercial Building A small- to medium-sized attached or detached non-Residential Building, typically designed to facilitate pedestrian-oriented Retail / Personal Service / Repair / Art / Artisan Uses and Office Uses. CD-3 & -3C, CD-4 & -4W, SD-MC Mixed-Use Building A typically attached Principal Building, which provides a vertical and/or horizontal mix o…
Market overview
Demographics & Economy
Norwalk, CT has 91,163 residents in 38,038 households. Density runs 3,972 people per square mile. Median household income here is $109,151 and median gross rent $2,019 a month.
91,163
Population
38,038
Households
2.4
Avg Household Size
40
Median Age
45%
College-Educated
89%
High-School Grad
23 sq mi
ZIP Area
3,972
Density / Sq Mi
$109,151
Median Household Income
$56,111
Median Earnings
$2,019
Median Rent
$556,099
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| New Canaan | — | $15.31 |
| Wilton | — | $21.14 |
| Westport | — | $38.59 |
| Georgetown | — | — |
Commercial property in Norwalk, CT asks $163/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Norwalk?
Commercial property in Norwalk, CT asks an average of $163 per square foot. The 4 most recent recorded sales traded at a median of $264/SF. Multifamily carries the highest asking price at $229/SF.
How much does it cost to lease commercial space in Norwalk?
Asking lease rates in Norwalk, CT average $29.93 per square foot per year.
Where does Realmo's Norwalk market data come from?
Realmo compiles Norwalk, CT figures from 4 recent recorded sales, 82 active sale listings, 103 active lease listings, 2,269 tracked off-market properties, the current Norwalk zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 82 active for-sale and 103 active for-lease listings in Norwalk, CT. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 14,725 zoned acres across 15 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 August 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at Northeast region level, retail vacancy is reported at Northeast region level and industrial vacancy is reported at Northeast region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 31 August 2026 · report a data issue
