Commercial Real Estate Market in Greenwood, IN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: October 31
89 active listings and 1,276 off-market properties in Greenwood, IN. Commercial property asks $132/SF to buy (based on 5 listings) and $20.00/SF/Yr to lease.
Market Trends
Greenwood, IN spans 64.4 square miles in Johnson County, Indiana. Figures below refresh monthly; last updated 31 October 2026.
Office
Office vacancy in Greenwood, IN runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Retail
Retail vacancy in Greenwood, IN runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
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%.
Multifamily
Multifamily vacancy in Greenwood, IN runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
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
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.
Tools
Frequently Asked Questions
What is the median price per square foot for commercial property in Greenwood?
How much does it cost to lease commercial space in Greenwood?
What zoning applies to commercial property in Greenwood?
Where does Realmo's Greenwood market data come from?
Methodology & data sources
- Asking prices and medians
- There are 29 active for-sale and 60 active for-lease listings in Greenwood, IN. The medians are based on 5 of the for-sale and 11 of the for-lease listings, those that state a price or rent per square foot. These are ASKING figures from live listings, not closed-transaction prices, and a figure resting on fewer than 10 listings says so where it is quoted.
- 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 October 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 October 2026 · How Realmo checks market page data · Report a data issue
