Commercial Real Estate Market in Madison, IN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
36 active listings and 1,074 off-market properties in Madison, IN. Commercial property asks $21/SF to buy and $11.56/SF/Yr to lease.
Market Trends
Madison, IN spans 211.4 square miles in Jefferson County, Indiana. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Madison, 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 Madison, IN runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Madison, 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 Madison, 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 65.5%
- Agricultural 13.5%
- Industrial 13.1%
- Commercial 7.7%
Largest Zones share of zoned land by district
Residential Agriculture
Residential Low Density
Hillside
Agriculture
Heavy Industry
Madison, IN zones 22,263 acres across 16 districts. Commercial zoning covers 7.7% of zoned land, residential 65.5% and industrial 13.1%. The largest single district is Residential Agriculture at 28.5%. For commercial buyers the practical constraint is that only 20.8% of land carries a commercial or industrial designation.
Residential Agriculture (RA)
SECTION 2.3 RESIDENTIAL AGRICULTURAL (RA) DISTRICT A. Residential Agricultural (RA) District Purpose 1. This district is intended to provide areas for less intensive agricultural and large-lot single-family residential uses. Development in this district is also intended to provide a transition between more intensive and traditional agricultural uses and more…
Market overview
Demographics & Economy
Madison, IN has 22,596 residents in 10,534 households. Density runs 107 people per square mile. Median household income here is $56,667 and median gross rent $857 a month.
22,596
Population
10,534
Households
2.1
Avg Household Size
42
Median Age
19%
College-Educated
89%
High-School Grad
211.4 sq mi
ZIP Area
107
Density / Sq Mi
$56,667
Median Household Income
$36,950
Median Earnings
$857
Median Rent
$179,900
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Milton | — | — |
| Hanover Beach | — | — |
| Hanover | — | — |
| Locust | — | — |
Commercial property in Madison, IN asks $21/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Madison?
Commercial property in Madison, IN asks an average of $21 per square foot.
How much does it cost to lease commercial space in Madison?
Asking lease rates in Madison, IN average $11.56 per square foot per year.
What zoning applies to commercial property in Madison?
Madison, IN zones 22,263 acres across 16 districts, of which 7.7% is commercial and 13.1% industrial. The largest single district is Residential Agriculture at 28.5% of zoned land. SECTION 2.3 RESIDENTIAL AGRICULTURAL (RA) DISTRICT A. Residential Agricultural (RA) District Purpose 1. This district is intended to provide areas for less intensive agricultural and large-lot single-family residential uses. Development in this district is also intended to provide a transition between more intensive and traditional agricultural uses and more… Residential zoning covers 65.5% and open space 0%.
Where does Realmo's Madison market data come from?
Realmo compiles Madison, IN figures from 30 active sale listings, 6 active lease listings, 1,074 tracked off-market properties, the current Madison zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 30 active for-sale and 6 active for-lease listings in Madison, 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: 22,263 zoned acres across 16 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
