Commercial Real Estate Market in Hobart, IN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
63 active listings and 920 off-market properties in Hobart, IN. Commercial property asks $3/SF to buy and $9.15/SF/Yr to lease.
Market Trends
Hobart, IN spans 35.0 square miles in Lake County, Indiana. Figures below refresh monthly; last updated 31 August 2026.
Office
Office space in Hobart, IN asks $154/SF to buy. Vacancy runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Average Sale Price $/SF
Listings
Vacancy Rate % in Midwest region
Retail
Retail space in Hobart, IN asks $126/SF to buy. Vacancy runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Average Sale Price $/SF
Listings
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Hobart, 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 space in Hobart, IN asks $173/SF to buy. Vacancy runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Average Sale Price $/SF
Listings
Vacancy Rate % in Midwest region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 71%
- Commercial 10%
- Planned_development 10%
- Industrial 4.7%
- Agricultural 3.9%
Largest Zones share of zoned land by district
Single Family Small Lot
Single Family Large Lot
Planned Unit Development
Single To Four Family
Light Manufacturing
Hobart, IN zones 17,445 acres across 18 districts. Commercial zoning covers 10% of zoned land, residential 71% and industrial 4.7%. The largest single district is Single Family Small Lot at 37.7%. For commercial buyers the practical constraint is that only 14.7% of land carries a commercial or industrial designation.
Single Family Large Lot (R1)
The purpose of this zone is to establish 2 districts in which single family residential use may take place, and to identify other compatible allowable uses, as well as transitional uses and conditional uses which may be allowed under certain circumstances and with limitations as identified hereinafter.
Market overview
Demographics & Economy
Hobart, IN has 32,540 residents in 13,774 households. Density runs 929 people per square mile. Median household income here is $72,163 and median gross rent $1,110 a month.
32,540
Population
13,774
Households
2.4
Avg Household Size
40
Median Age
21%
College-Educated
93%
High-School Grad
35 sq mi
ZIP Area
929
Density / Sq Mi
$72,163
Median Household Income
$41,574
Median Earnings
$1,110
Median Rent
$193,400
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Wheeler | — | — |
| Portage | — | $19.40 |
| Ogden Dunes | — | — |
| Gary | — | $17.60 |
Commercial property in Hobart, IN asks $3/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Hobart?
Commercial property in Hobart, IN asks an average of $3 per square foot. Multifamily carries the highest asking price at $173/SF.
How much does it cost to lease commercial space in Hobart?
Asking lease rates in Hobart, IN average $9.15 per square foot per year.
What zoning applies to commercial property in Hobart?
Hobart, IN zones 17,445 acres across 18 districts, of which 10% is commercial and 4.7% industrial. The largest single district is Single Family Small Lot at 37.7% of zoned land. Residential zoning covers 71% and open space 0%.
Where does Realmo's Hobart market data come from?
Realmo compiles Hobart, IN figures from 50 active sale listings, 13 active lease listings, 920 tracked off-market properties, the current Hobart zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 50 active for-sale and 13 active for-lease listings in Hobart, 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: 17,445 zoned acres across 18 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
