Commercial Real Estate Market in Noble, IL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
Market Trends
Noble, IL spans 104.1 square miles in Richland County, Illinois. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Noble, 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 Noble, IL runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Noble, 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 Noble, 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 61.3%
- Commercial 34%
- Mixed use 2%
Largest Zones share of zoned land by district
Residential 1
Business 2
Residential 2
No Zoning
Business 1
Noble, IL zones 614 acres across 5 districts. Commercial zoning covers 34% of zoned land, residential 61.3%. The largest single district is Residential 1 at 48.6%. For commercial buyers the practical constraint is that only 34% of land carries a commercial or industrial designation.
Residential 1 (R-1)
The purpose of this district is to provide areas for single-family detached dwellings
Market overview
Demographics & Economy
Noble, IL has 1,883 residents in 701 households. Density runs 18 people per square mile. Median household income here is $57,723 and median gross rent $546 a month.
1,883
Population
701
Households
2.7
Avg Household Size
40
Median Age
11%
College-Educated
92%
High-School Grad
104.1 sq mi
ZIP Area
18
Density / Sq Mi
$57,723
Median Household Income
$39,730
Median Earnings
$546
Median Rent
$99,300
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Olney | — | — |
| Orchard Heights | — | — |
| Clay City | — | — |
| Wynoose | — | — |
Frequently Asked Questions
What zoning applies to commercial property in Noble?
Noble, IL zones 614 acres across 5 districts, of which 34% is commercial and 0% industrial. The largest single district is Residential 1 at 48.6% of zoned land. The purpose of this district is to provide areas for single-family detached dwellings Residential zoning covers 61.3% and open space 0%.
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: 614 zoned acres across 5 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
