Commercial Real Estate Market in Spirit Lake, IA
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
98 active listings and 1,207 off-market properties in Spirit Lake, IA.
Market Trends
Spirit Lake, IA spans 105.2 square miles in Dickinson County, Iowa. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Spirit Lake, 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 Spirit Lake, IA runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Spirit Lake, 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 Spirit Lake, 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
Market overview
Demographics & Economy
Spirit Lake, IA has 8,553 residents in 6,638 households. Density runs 81 people per square mile. Median household income here is $77,464 and median gross rent $1,005 a month.
8,553
Population
6,638
Households
1.3
Avg Household Size
49
Median Age
35%
College-Educated
97%
High-School Grad
105.2 sq mi
ZIP Area
81
Density / Sq Mi
$77,464
Median Household Income
$41,043
Median Earnings
$1,005
Median Rent
$256,000
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Orleans | — | — |
| Okoboji | — | — |
| Arnolds Park | — | — |
| Triboji Beach | — | — |
Commercial property in Spirit Lake, IA asks $498/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Spirit Lake?
Commercial property in Spirit Lake, IA asks an average of $498 per square foot. The 5 most recent recorded sales traded at a median of $173/SF, so asking sits 189% above the achieved median. Multifamily carries the highest asking price at $262/SF.
Where does Realmo's Spirit Lake market data come from?
Realmo compiles Spirit Lake, IA figures from 5 recent recorded sales, 96 active sale listings, 2 active lease listings, 1,207 tracked off-market properties. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 96 active for-sale and 2 active for-lease listings in Spirit Lake, 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.
- 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
