Commercial Real Estate Market in Waverly, IL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
1 active listing and 106 off-market properties in Waverly, IL.
Market Trends
Waverly, IL spans 87.3 square miles in Morgan County, Illinois. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Waverly, 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 Waverly, IL runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Waverly, 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 Waverly, 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 52.6%
- Agricultural 38%
- Commercial 6.4%
Largest Zones share of zoned land by district
Rural Agriculture
Single Family Residential
Single Family Residential
Multifamily Residential
General Commercial
Market overview
Demographics & Economy
Waverly, IL has 1,970 residents in 940 households. Density runs 23 people per square mile. Median household income here is $66,619 and median gross rent $771 a month.
1,970
Population
940
Households
2.1
Avg Household Size
42
Median Age
21%
College-Educated
95%
High-School Grad
87.3 sq mi
ZIP Area
23
Density / Sq Mi
$66,619
Median Household Income
$45,192
Median Earnings
$771
Median Rent
$115,200
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Loami | — | — |
| New Berlin | — | — |
| Bates | — | — |
| Berlin | — | — |
Frequently Asked Questions
Where does Realmo's Waverly market data come from?
Realmo compiles Waverly, IL figures from 7 recent recorded sales, 1 active sale listings, 106 tracked off-market properties, the current Waverly zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 1 active for-sale and 0 active for-lease listings in Waverly, 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: 663 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
