Commercial Real Estate Market in Greenwood, IN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
152 active listings and 1,276 off-market properties in Greenwood, IN.
Market Trends
Greenwood, IN spans 64.4 square miles in Johnson County, Indiana. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Greenwood, 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 Greenwood, IN runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Greenwood, 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 Greenwood, 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 53.3%
- Commercial 12.8%
- Industrial 11.8%
- Agricultural 10.9%
- Civic 5.9%
- Planned_development 4.6%
- Special 0.7%
Largest Zones share of zoned land by district
Residential Medium Lot
Residential Large Lot
Industrial Large Format
Agricultural District
Open Space District
Greenwood, IN zones 16,304 acres across 17 districts. Commercial zoning covers 12.8% of zoned land, residential 53.3% and industrial 11.8%. The largest single district is Residential Medium Lot at 27.2%. For commercial buyers the practical constraint is that only 24.7% of land carries a commercial or industrial designation.
Market overview
Demographics & Economy
Greenwood, IN has 94,670 residents in 37,813 households. Density runs 1,471 people per square mile. Median household income here is $88,118 and median gross rent $1,324 a month.
94,670
Population
37,813
Households
2.5
Avg Household Size
37
Median Age
37%
College-Educated
93%
High-School Grad
64.4 sq mi
ZIP Area
1,471
Density / Sq Mi
$88,118
Median Household Income
$50,068
Median Earnings
$1,324
Median Rent
$285,446
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Homecroft | — | — |
| Southport | — | — |
| New Whiteland | — | — |
| Whiteland | — | — |
Frequently Asked Questions
What zoning applies to commercial property in Greenwood?
Greenwood, IN zones 16,304 acres across 17 districts, of which 12.8% is commercial and 11.8% industrial. The largest single district is Residential Medium Lot at 27.2% of zoned land. Residential zoning covers 53.3% and open space 0%.
Where does Realmo's Greenwood market data come from?
Realmo compiles Greenwood, IN figures from 88 active sale listings, 64 active lease listings, 1,276 tracked off-market properties, the current Greenwood zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 88 active for-sale and 64 active for-lease listings in Greenwood, 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: 16,304 zoned acres across 17 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
