Commercial Real Estate Market in Matthews, IN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
Market Trends
Matthews, IN spans 0.4 square miles in Grant County, Indiana. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Matthews, 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 Matthews, IN runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Matthews, 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 Matthews, 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 69.6%
- Industrial 30%
- Commercial 0.4%
Largest Zones share of zoned land by district
Low Single Family Residential
Light Industry
General Business Light Industry
Medium Density Single Family Residential
General Business
Matthews, IN zones 239 acres across 5 districts. Commercial zoning covers 0.4% of zoned land, residential 69.6% and industrial 30%. The largest single district is Low Single Family Residential at 62.9%. For commercial buyers the practical constraint is that only 30.4% of land carries a commercial or industrial designation.
General Business Light Industry (GB/I1)
Use/District AG, RS R1, R2, R3, R4, R5 PB, NC, LB, GB, I1, I2, I3 CC Residential 2 for single family unit. 1.5 for multi- family unit. 1 space per bedroom for boarding houses, cooperatives and similar group uses. 2 spaces per home professional business or customary home occupation, in addition to dwelling requirements 2 for single family unit. 1.5 for multi-…
Market overview
Demographics & Economy
Matthews, IN has 483 residents in 226 households. Density runs 1,127 people per square mile. Median household income here is $46,875 and median gross rent $1,049 a month.
483
Population
226
Households
2.1
Avg Household Size
41
Median Age
8%
College-Educated
85%
High-School Grad
0.4 sq mi
ZIP Area
1,127
Density / Sq Mi
$46,875
Median Household Income
$30,625
Median Earnings
$1,049
Median Rent
$76,600
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Fowlerton | — | — |
| Shamrock Lakes | — | — |
| Wheeling | — | — |
| Gaston | — | — |
Frequently Asked Questions
What zoning applies to commercial property in Matthews?
Matthews, IN zones 239 acres across 5 districts, of which 0.4% is commercial and 30% industrial. The largest single district is Low Single Family Residential at 62.9% of zoned land. Residential zoning covers 69.6% and open space 0%.
Methodology & data sources
- 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: 239 zoned acres across 5 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
