Commercial Real Estate Market in Hobart, IN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: October 31
26 active listings and 920 off-market properties in Hobart, IN.
Market Trends
Hobart, IN spans 35.0 square miles in Lake County, Indiana. Figures below refresh monthly; last updated 31 October 2026.
Office
Office vacancy in Hobart, IN runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Retail
Retail space in Hobart, IN has a median asking sale price of $118/SF (based on 4 listings). Vacancy runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
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%.
Multifamily
Multifamily vacancy in Hobart, 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 71%
- Commercial 10%
- Planned_development 10%
- Industrial 4.7%
- Agricultural 3.9%
Largest Zones share of zoned land by district
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.
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.
Tools
Nearby Markets
| Market | Median Asking Price, $/SF | Median Asking Rent, $/SF/Yr |
|---|---|---|
| Portage | $213 | $20.00 |
| Gary | $80 | $16.00 |
| Crown Point | $186 | $11.59 |
| Schererville | $176 | $21.50 |
Commercial property in Hobart, IN asks $127/SF. The 4 bordering markets run from $80/SF in Gary to $213/SF in Portage, and the city sits below their $181/SF median.
Frequently Asked Questions
What is the median price per square foot for commercial property in Hobart?
How does Hobart compare to nearby markets on price?
What zoning applies to commercial property in Hobart?
Where does Realmo's Hobart market data come from?
Methodology & data sources
- Asking prices and medians
- There are 18 active for-sale and 8 active for-lease listings in Hobart, IN. The sale median is based on 11 of the for-sale listings that state a price per square foot; too few for-lease listings state a rent per square foot for a rent median. 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: 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 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
