Commercial Real Estate Market in Milford, IA
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
31 active listings and 1,035 off-market properties in Milford, IA.
Market Trends
Milford, IA spans 108.0 square miles in Dickinson County, Iowa. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Milford, 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 Milford, IA runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Milford, 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 space in Milford, IA asks $262/SF to buy. Vacancy runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Average Sale Price $/SF
Listings
Vacancy Rate % in Midwest region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 56.8%
- Commercial 18.6%
- Industrial 13.3%
- Agricultural 11.4%
Largest Zones share of zoned land by district
Multifamily District
Arterial Commercial District
Residential District
Light Industrial District
Agriculture District
Milford, IA zones 1,358 acres across 11 districts. Commercial zoning covers 18.6% of zoned land, residential 56.8% and industrial 13.3%. The largest single district is Multifamily District at 24.5%. For commercial buyers the practical constraint is that only 31.8% of land carries a commercial or industrial designation.
Multifamily District (3RM)
This district is intended to provide for a variety of multiple family residential areas where public utilities and services are available and to encourage a suitable living environment through the promotion of public health, safety and welfare
Market overview
Demographics & Economy
Milford, IA has 4,844 residents in 3,104 households. Density runs 45 people per square mile. Median household income here is $67,628 and median gross rent $904 a month.
4,844
Population
3,104
Households
1.6
Avg Household Size
45
Median Age
31%
College-Educated
97%
High-School Grad
108 sq mi
ZIP Area
45
Density / Sq Mi
$67,628
Median Household Income
$39,913
Median Earnings
$904
Median Rent
$256,100
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Old Town | — | — |
| West Okoboji | — | — |
| Wahpeton | — | — |
| Arnolds Park | — | — |
Commercial property in Milford, IA asks $5/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Milford?
Commercial property in Milford, IA asks an average of $5 per square foot. The 4 most recent recorded sales traded at a median of $126/SF. Multifamily carries the highest asking price at $262/SF.
What zoning applies to commercial property in Milford?
Milford, IA zones 1,358 acres across 11 districts, of which 18.6% is commercial and 13.3% industrial. The largest single district is Multifamily District at 24.5% of zoned land. This district is intended to provide for a variety of multiple family residential areas where public utilities and services are available and to encourage a suitable living environment through the promotion of public health, safety and welfare Residential zoning covers 56.8% and open space 0%.
Where does Realmo's Milford market data come from?
Realmo compiles Milford, IA figures from 5 recent recorded sales, 31 active sale listings, 1,035 tracked off-market properties, the current Milford zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 31 active for-sale and 0 active for-lease listings in Milford, 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: 1,358 zoned acres across 11 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 and industrial vacancy is reported at Midwest 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
