Commercial Real Estate Market in Advance, IN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
Market Trends
Advance, IN spans 0.6 square miles in Boone County, Indiana. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Advance, IN runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Vacancy Rate % in Midwest region
Retail
Retail vacancy in Advance, IN runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Advance, IN 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 Advance, IN 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
- Civic 74.9%
- Residential 18.9%
- Industrial 3.7%
- Commercial 2.5%
Largest Zones share of zoned land by district
General Agricultural
Low Density Single And Two Family Residential
Light Industry
Urban Business
Medium Density Single And Two Family Residential
General Agricultural (AG)
AG General Agricultural This district allows the opportunity for further residential development beyond the constraints of the AP District; however, residential development in this district remains limited. RE Rural Equestrian This district is established to maintain and conserve a rural, country-like atmosphere and to encourage equestrian uses rather than r…
Market overview
Demographics & Economy
Advance, IN has 503 residents in 208 households. Density runs 854 people per square mile. Median household income here is $65,000 and median gross rent $1,014 a month.
503
Population
208
Households
2.4
Avg Household Size
34
Median Age
24%
College-Educated
90%
High-School Grad
0.6 sq mi
ZIP Area
854
Density / Sq Mi
$65,000
Median Household Income
$43,021
Median Earnings
$1,014
Median Rent
$164,800
Median Home Value
Tools
Nearby Markets
Frequently Asked Questions
Where does Realmo's Advance market data come from?
Realmo compiles Advance, IN figures from 6 recent recorded sales, 23 tracked off-market properties, the current Advance zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
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: 381 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
