Commercial Real Estate Market in Ashland, IL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
Market Trends
Ashland, IL spans 93.4 square miles in Cass County, Illinois. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Ashland, IL runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Vacancy Rate % in Midwest region
Retail
Retail vacancy in Ashland, IL runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Ashland, IL 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 Ashland, IL 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 81.1%
- Commercial 9.3%
- Industrial 5.7%
- Open space 4%
Largest Zones share of zoned land by district
Low Density Residential District
Business Commercial District
Light Industrial District
General Industrial District
Manufactured Home Park Subdivision District
Ashland, IL zones 557 acres across 7 districts. Commercial zoning covers 9.3% of zoned land, residential 81.1%, open space 4% and industrial 5.7%. The largest single district is Low Density Residential District at 80.4%. For commercial buyers the practical constraint is that only 14.9% of land carries a commercial or industrial designation.
Business Commercial District (B-1)
DIVISION 5. - B-1 BUSINESS COMMERCIAL DISTRICT Sec. 42-161. - Prohibited uses. All residential uses in the B-1 district are prohibited, with the exception of residential uses in existence at the date of passage of this chapter, and with the exception of residential units above the first floor as provided for in this article. The manufacture or production of…
Market overview
Demographics & Economy
Ashland, IL has 1,774 residents in 786 households. Density runs 19 people per square mile. Median household income here is $61,833 and median gross rent $590 a month.
1,774
Population
786
Households
2.3
Avg Household Size
44
Median Age
20%
College-Educated
91%
High-School Grad
93.4 sq mi
ZIP Area
19
Density / Sq Mi
$61,833
Median Household Income
$38,796
Median Earnings
$590
Median Rent
$113,300
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Prentice | — | — |
| Yatesville | — | — |
| Pleasant Plains | — | — |
| Tallula | — | — |
Frequently Asked Questions
What zoning applies to commercial property in Ashland?
Ashland, IL zones 557 acres across 7 districts, of which 9.3% is commercial and 5.7% industrial. The largest single district is Low Density Residential District at 80.4% of zoned land. Residential zoning covers 81.1% and open space 4%.
Methodology & data sources
- 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: 557 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
