Commercial Real Estate Market in Merrillville, IN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: September 30
360 active listings and 6,213 off-market properties in Merrillville, IN. Commercial property asks $15/SF to buy and $17.77/SF/Yr to lease.
Market Trends
Merrillville, IN spans 30.1 square miles in Lake County, Indiana. Figures below refresh monthly; last updated 30 September 2026.
Office
Office space in Merrillville, IN asks $166/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 Merrillville, IN asks $120/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 Merrillville, 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 Merrillville, IN asks $180/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
- Civic 58.2%
- Agricultural 15.9%
- Commercial 15%
- Industrial 8.3%
- Mixed use 2.1%
Largest Zones share of zoned land by district
Single Family Residence 2
Single Family Residence 1
Agriculture
Highway Commercial
Limited Industrial
Limited Industrial (M1)
Any M-1 limited industrial uses, except the following items: a. Automobile and/or truck repair; auto and/or truck parts sales; auto and/or truck painting; auto and/or truck customizing; auto and/or truck used vehicle sales. b. Pole buildings. c. Transportation facilities such as truck transfer stations; truck stops; truck washes, and truck terminals (this pr…
Market overview
Demographics & Economy
Merrillville, IN has 39,471 residents in 17,685 households. Density runs 1,313 people per square mile. Median household income here is $61,735 and median gross rent $1,267 a month.
39,471
Population
17,685
Households
2.2
Avg Household Size
39
Median Age
24%
College-Educated
93%
High-School Grad
30.1 sq mi
ZIP Area
1,313
Density / Sq Mi
$61,735
Median Household Income
$42,235
Median Earnings
$1,267
Median Rent
$192,100
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Gary | — | $17.77 |
| Griffith | — | $11.84 |
| Hobart | — | $9.15 |
Commercial property in Merrillville, IN asks $15/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Merrillville?
Commercial property in Merrillville, IN asks an average of $15 per square foot. Multifamily carries the highest asking price at $180/SF.
How much does it cost to lease commercial space in Merrillville?
Asking lease rates in Merrillville, IN average $17.77 per square foot per year.
Where does Realmo's Merrillville market data come from?
Realmo compiles Merrillville, IN figures from 291 active sale listings, 69 active lease listings, 6,213 tracked off-market properties, the current Merrillville zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 30 September 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 291 active for-sale and 69 active for-lease listings in Merrillville, 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: 21,288 zoned acres across 14 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 30 September 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 30 September 2026 · report a data issue
