Commercial Real Estate Market in Wapello, IA
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
13 active listings and 283 off-market properties in Wapello, IA.
Market Trends
Wapello, IA spans 111.1 square miles in Louisa County, Iowa. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Wapello, 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 Wapello, IA runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Wapello, 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 Wapello, 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
- Residential 51.7%
- Commercial 13.8%
- Industrial 11.1%
Largest Zones share of zoned land by district
One And Two Family Residence District
No Zoning
One Family Residence District
General Business District
Industrial District
Wapello, IA zones 802 acres across 7 districts. Commercial zoning covers 13.8% of zoned land, residential 51.7% and industrial 11.1%. The largest single district is One And Two Family Residence District at 31.9%. For commercial buyers the practical constraint is that only 24.9% of land carries a commercial or industrial designation.
One And Two Family Residence District (R-2)
R-2 - One and Two-Family Residence District 165.19 Special Exceptions and Interpretation of Map 165.08 R-3 - One to Six-Family Residence District 165.20 Administrative Review and Variances 165.09 B-1 - Retail Business District 165.21 Review by Council 165.10 B-2 - General Business District 165.22 Judicial Review 165.11 I-1 - Industrial District 165.23 Distri…
Market overview
Demographics & Economy
Wapello, IA has 3,427 residents in 1,596 households. Density runs 31 people per square mile. Median household income here is $80,990 and median gross rent $799 a month.
3,427
Population
1,596
Households
2.1
Avg Household Size
45
Median Age
17%
College-Educated
92%
High-School Grad
111.1 sq mi
ZIP Area
31
Density / Sq Mi
$80,990
Median Household Income
$41,184
Median Earnings
$799
Median Rent
$152,400
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Grandview | — | — |
| Toolesboro | — | — |
| Morning Sun | — | — |
| Cairo | — | — |
Frequently Asked Questions
What zoning applies to commercial property in Wapello?
Wapello, IA zones 802 acres across 7 districts, of which 13.8% is commercial and 11.1% industrial. The largest single district is One And Two Family Residence District at 31.9% of zoned land. R-2 - One and Two-Family Residence District 165.19 Special Exceptions and Interpretation of Map 165.08 R-3 - One to Six-Family Residence District 165.20 Administrative Review and Variances 165.09 B-1 - Retail Business District 165.21 Review by Council 165.10 B-2 - General Business District 165.22 Judicial Review 165.11 I-1 - Industrial District 165.23 Distri… Residential zoning covers 51.7% and open space 0%.
Where does Realmo's Wapello market data come from?
Realmo compiles Wapello, IA figures from 2 recent recorded sales, 13 active sale listings, 283 tracked off-market properties, the current Wapello zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 13 active for-sale and 0 active for-lease listings in Wapello, 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: 802 zoned acres across 7 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
