Commercial Real Estate Market in Independence, IA
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
27 active listings and 643 off-market properties in Independence, IA. Commercial property asks $936/SF to buy and $6.75/SF/Yr to lease.
Market Trends
Independence, IA spans 145.0 square miles in Buchanan County, Iowa. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Independence, IA runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Vacancy Rate % in Midwest region
Retail
Retail vacancy in Independence, IA runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Independence, IA runs 4.9% across the Midwest region in 2025, up from 4.4% in 2019. Nearly 1.6x the 2022 low of 3.1%.
Vacancy Rate % in Midwest region
Multifamily
Multifamily vacancy in Independence, IA runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Vacancy Rate % in Midwest region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Commercial 50.3%
- Industrial 49.2%
- Residential 0.5%
Largest Zones share of zoned land by district
Agricultural District
Mixed Residential District
Commercial District
Heavy Industrial And Manufacturing District
Multiple Residential District
Independence, IA zones 3,265 acres across 10 districts. Commercial zoning covers 50.3% of zoned land, residential 0.5% and industrial 49.2%. The largest single district is Agricultural District at 44.1%. For commercial buyers the practical constraint is that only 99.5% of land carries a commercial or industrial designation.
Agricultural District (A-1)
The A-1 Agricultural District is intended to provide regulations for land situated on the fringe of the urban area that is used primarily for agricultural purposes, but which will be undergoing urban development in the near future. Many tracts in this District will be in close proximity to developing residential, commercial, or industrial uses. The purpose o…
Market overview
Demographics & Economy
Independence, IA has 8,795 residents in 3,921 households. Density runs 61 people per square mile. Median household income here is $79,861 and median gross rent $770 a month.
8,795
Population
3,921
Households
2.2
Avg Household Size
42
Median Age
24%
College-Educated
96%
High-School Grad
145 sq mi
ZIP Area
61
Density / Sq Mi
$79,861
Median Household Income
$41,689
Median Earnings
$770
Median Rent
$174,000
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Otterville | — | — |
| Rowley | — | — |
| Winthrop | — | — |
| Littleton | — | — |
Commercial property in Independence, IA asks $936/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Independence?
Commercial property in Independence, IA asks an average of $936 per square foot. The 3 most recent recorded sales traded at a median of $97/SF, so asking sits 868% above the achieved median.
How much does it cost to lease commercial space in Independence?
Asking lease rates in Independence, IA average $6.75 per square foot per year.
What zoning applies to commercial property in Independence?
Independence, IA zones 3,265 acres across 10 districts, of which 50.3% is commercial and 49.2% industrial. The largest single district is Agricultural District at 44.1% of zoned land. The A-1 Agricultural District is intended to provide regulations for land situated on the fringe of the urban area that is used primarily for agricultural purposes, but which will be undergoing urban development in the near future. Many tracts in this District will be in close proximity to developing residential, commercial, or industrial uses. The purpose o… Residential zoning covers 0.5% and open space 0%.
Where does Realmo's Independence market data come from?
Realmo compiles Independence, IA figures from 7 recent recorded sales, 25 active sale listings, 2 active lease listings, 643 tracked off-market properties, the current Independence zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 25 active for-sale and 2 active for-lease listings in Independence, IA. 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: 3,265 zoned acres across 10 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 Midwest region level, retail vacancy is reported at Midwest region level, industrial vacancy is reported at Midwest region level and asking prices run materially above recent closed pricing.
- 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
