Commercial Real Estate Market in Michigan City, IN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: October 31
62 active listings and 1,858 off-market properties in Michigan City, IN. Commercial property asks $182/SF to buy and $10.36/SF/Yr to lease.
Market Trends
Michigan City, IN spans 76.6 square miles in LaPorte County, Indiana. Figures below refresh monthly; last updated 31 October 2026.
Office
Office space in Michigan City, IN has a median asking sale price of $101/SF (based on 6 listings). Vacancy runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Retail
Retail space in Michigan City, IN has a median asking sale price of $206/SF (based on 5 listings). Vacancy runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Industrial
Industrial space in Michigan City, IN has a median asking sale price of $50/SF (based on 3 listings). Vacancy 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 Michigan City, IN runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Market overview
Demographics & Economy
Michigan City, IN has 44,209 residents in 21,652 households. Density runs 577 people per square mile. Median household income here is $59,641 and median gross rent $924 a month.
Tools
Lease vs Buy Breakeven
At $10.36/SF/Yr lease vs $182/SF buy → buying wins if held > 6.3 years.
At a 5.7% gross asking yield the payback reads short relative to leasing. Assumes 30% down at 6.5% fixed, 2% a year in taxes and upkeep, 3% appreciation, 5% opportunity cost, 2% closing plus 5% selling costs, and a 3% annual rent escalator.
Frequently Asked Questions
What is the median price per square foot for commercial property in Michigan City?
How much does it cost to lease commercial space in Michigan City?
Is it cheaper to lease or buy commercial space in Michigan City?
Where does Realmo's Michigan City market data come from?
Methodology & data sources
- Asking prices and medians
- There are 37 active for-sale and 25 active for-lease listings in Michigan City, IN. The medians are based on 19 of the for-sale and 10 of the for-lease listings, those that state a price or rent per square foot. 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.
- 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
