Commercial Real Estate Market in Bourbon, IN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
4 active listings and 140 off-market properties in Bourbon, IN.
Market Trends
Bourbon, IN spans 66.6 square miles in Marshall County, Indiana. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Bourbon, 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 Bourbon, IN runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Bourbon, 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 Bourbon, 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
- Residential 91%
- Civic 6.5%
- Industrial 2.3%
- Commercial 0.1%
Largest Zones share of zoned land by district
Suburban District
Single Family Residential District
General Business District
Light Industrial
Heavy Industrial
Bourbon, IN zones 8,837 acres across 7 districts. Commercial zoning covers 0.1% of zoned land, residential 91% and industrial 2.3%. The largest single district is Suburban District at 91%. For commercial buyers the practical constraint is that only 2.4% of land carries a commercial or industrial designation.
Light Industrial (LI)
Light industrial uses 154.087 Heavy industrial uses 154.088 Conditional uses 154.089 Conditional exceptions Contingent Uses Specifications 154.100 Specifications 154.101 Paving; lighting 154.102 Conditional uses 154.103 Conditional exceptions Non-Conforming Use Specifications 154.115 Continuation thereof and reconstruction 154.116 Extension 154.117 Change 15…
Market overview
Demographics & Economy
Bourbon, IN has 3,241 residents in 1,232 households. Density runs 49 people per square mile. Median household income here is $83,712 and median gross rent $861 a month.
3,241
Population
1,232
Households
2.6
Avg Household Size
38
Median Age
16%
College-Educated
87%
High-School Grad
66.6 sq mi
ZIP Area
49
Density / Sq Mi
$83,712
Median Household Income
$43,821
Median Earnings
$861
Median Rent
$169,800
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Etna Green | — | — |
| Inwood | — | — |
| Tippecanoe | — | — |
| Atwood | — | — |
Commercial property in Bourbon, IN asks $83/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Bourbon?
Commercial property in Bourbon, IN asks an average of $83 per square foot.
What zoning applies to commercial property in Bourbon?
Bourbon, IN zones 8,837 acres across 7 districts, of which 0.1% is commercial and 2.3% industrial. The largest single district is Suburban District at 91% of zoned land. Residential zoning covers 91% and open space 0%.
Where does Realmo's Bourbon market data come from?
Realmo compiles Bourbon, IN figures from 4 active sale listings, 140 tracked off-market properties, the current Bourbon zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 4 active for-sale and 0 active for-lease listings in Bourbon, IN. 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: 8,837 zoned acres across 7 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
