Commercial Real Estate Market in Belvidere, IL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
52 active listings and 805 off-market properties in Belvidere, IL.
Market Trends
Belvidere, IL spans 84.3 square miles in Boone County, Illinois. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Belvidere, 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 Belvidere, IL runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Belvidere, 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 Belvidere, 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 43.6%
- Industrial 23.4%
- Agricultural 20.9%
- Commercial 8.4%
- Civic 3.8%
Largest Zones share of zoned land by district
Single Family Residential 5
Rural Holding
Single Family Residential 4
Heavy Industrial
Planned Industrial
Belvidere, IL zones 8,977 acres across 17 districts. Commercial zoning covers 8.4% of zoned land, residential 43.6% and industrial 23.4%. The largest single district is Single Family Residential 5 at 21.3%. For commercial buyers the practical constraint is that only 31.8% of land carries a commercial or industrial designation.
Single Family Residential 5 (SR-6)
This district is intended to permit development that has a moderate density, community character
Market overview
Demographics & Economy
Belvidere, IL has 33,747 residents in 13,406 households. Density runs 400 people per square mile. Median household income here is $75,833 and median gross rent $953 a month.
33,747
Population
13,406
Households
2.5
Avg Household Size
40
Median Age
21%
College-Educated
83%
High-School Grad
84.3 sq mi
ZIP Area
400
Density / Sq Mi
$75,833
Median Household Income
$38,509
Median Earnings
$953
Median Rent
$185,200
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Garden Prairie | — | — |
| Candlewick Lake | — | — |
| Irene | — | — |
| Argyle | — | — |
Commercial property in Belvidere, IL asks $82/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Belvidere?
Commercial property in Belvidere, IL asks an average of $82 per square foot. The 5 most recent recorded sales traded at a median of $71/SF, so asking sits 16% above the achieved median.
What zoning applies to commercial property in Belvidere?
Belvidere, IL zones 8,977 acres across 17 districts, of which 8.4% is commercial and 23.4% industrial. The largest single district is Single Family Residential 5 at 21.3% of zoned land. This district is intended to permit development that has a moderate density, community character Residential zoning covers 43.6% and open space 0%.
Where does Realmo's Belvidere market data come from?
Realmo compiles Belvidere, IL figures from 5 recent recorded sales, 40 active sale listings, 12 active lease listings, 805 tracked off-market properties, the current Belvidere zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 40 active for-sale and 12 active for-lease listings in Belvidere, IL. 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: 8,977 zoned acres across 17 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
