Commercial Real Estate Market in Neoga, IL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
2 active listings and 101 off-market properties in Neoga, IL.
Market Trends
Neoga, IL spans 61.1 square miles in Cumberland County, Illinois. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Neoga, 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 Neoga, IL runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Neoga, 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 Neoga, 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 70.9%
- Commercial 16.5%
- Open space 6.6%
- Industrial 6.1%
Largest Zones share of zoned land by district
Single Family Dwelling District
Residential Estates District
Central Business District
Recreational Facilities And Open Space
Highway Business District
Neoga, IL zones 898 acres across 8 districts. Commercial zoning covers 16.5% of zoned land, residential 70.9%, open space 6.6% and industrial 6.1%. The largest single district is Single Family Dwelling District at 52.1%. For commercial buyers the practical constraint is that only 22.6% of land carries a commercial or industrial designation.
Single Family Dwelling District (R-1)
Single Family Dwelling District intended to provide for single family dwellings and two-family dwellings (duplex).
Market overview
Demographics & Economy
Neoga, IL has 3,005 residents in 1,522 households. Density runs 49 people per square mile. Median household income here is $84,158 and median gross rent $815 a month.
3,005
Population
1,522
Households
2
Avg Household Size
46
Median Age
23%
College-Educated
96%
High-School Grad
61.1 sq mi
ZIP Area
49
Density / Sq Mi
$84,158
Median Household Income
$42,300
Median Earnings
$815
Median Rent
$153,500
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Trowbridge | — | — |
| Big Spring | — | — |
| Trilla | — | — |
| Sigel | — | — |
Frequently Asked Questions
What zoning applies to commercial property in Neoga?
Neoga, IL zones 898 acres across 8 districts, of which 16.5% is commercial and 6.1% industrial. The largest single district is Single Family Dwelling District at 52.1% of zoned land. Single Family Dwelling District intended to provide for single family dwellings and two-family dwellings (duplex). Residential zoning covers 70.9% and open space 6.6%.
Where does Realmo's Neoga market data come from?
Realmo compiles Neoga, IL figures from 2 active sale listings, 101 tracked off-market properties, the current Neoga zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 2 active for-sale and 0 active for-lease listings in Neoga, 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: 898 zoned acres across 8 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
