Commercial Real Estate Market in Carthage, IL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
6 active listings and 328 off-market properties in Carthage, IL.
Market Trends
Carthage, IL spans 167.6 square miles in Hancock County, Illinois. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Carthage, 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 Carthage, IL runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Carthage, 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 Carthage, 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 74.3%
- Commercial 15.4%
- Industrial 10.4%
Largest Zones share of zoned land by district
One Family Dwelling District
One Family Dwelling District
Multiple Family Dwelling District
Highway Business District
Light Industrial District
Carthage, IL zones 1,069 acres across 9 districts. Commercial zoning covers 15.4% of zoned land, residential 74.3% and industrial 10.4%. The largest single district is One Family Dwelling District at 32.4%. For commercial buyers the practical constraint is that only 25.7% of land carries a commercial or industrial designation.
One Family Dwelling District (R-3)
The intent of this zone is to promote One-Family Dwelling District
Market overview
Demographics & Economy
Carthage, IL has 3,873 residents in 1,892 households. Density runs 23 people per square mile. Median household income here is $74,859 and median gross rent $677 a month.
3,873
Population
1,892
Households
2
Avg Household Size
45
Median Age
33%
College-Educated
96%
High-School Grad
167.6 sq mi
ZIP Area
23
Density / Sq Mi
$74,859
Median Household Income
$41,091
Median Earnings
$677
Median Rent
$120,600
Median Home Value
Tools
Nearby Markets
Frequently Asked Questions
What zoning applies to commercial property in Carthage?
Carthage, IL zones 1,069 acres across 9 districts, of which 15.4% is commercial and 10.4% industrial. The largest single district is One Family Dwelling District at 32.4% of zoned land. The intent of this zone is to promote One-Family Dwelling District Residential zoning covers 74.3% and open space 0%.
Where does Realmo's Carthage market data come from?
Realmo compiles Carthage, IL figures from 6 active sale listings, 328 tracked off-market properties, the current Carthage zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 6 active for-sale and 0 active for-lease listings in Carthage, 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: 1,069 zoned acres across 9 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
