Commercial Real Estate Market in Middlebury, IN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
11 active listings and 489 off-market properties in Middlebury, IN.
Market Trends
Middlebury, IN spans 59.4 square miles in Elkhart County, Indiana. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Middlebury, 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 Middlebury, IN runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Middlebury, 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 Middlebury, 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
- Industrial 49.7%
- Commercial 20.9%
- Planned_development 15.7%
- Residential 10.6%
- Civic 3.1%
Largest Zones share of zoned land by district
General Manufacturing
Limited Manufacturing
Agriculture
Planned Unit Development
Single Family Residential
Middlebury, IN zones 2,815 acres across 11 districts. Commercial zoning covers 20.9% of zoned land, residential 10.6% and industrial 49.7%. The largest single district is General Manufacturing at 24.2%. For commercial buyers the practical constraint is that only 70.6% of land carries a commercial or industrial designation.
General Manufacturing (M-2)
The purpose of the M-2, Heavy Manufacturing, zoning district is to accommodate moderately and highly intense manufacturing uses and to prevent encroachment by residential and lighter commercial uses that would eventually lead to land use conflicts. Permitted uses may produce heavy truck traffic, noise, odor or smoke.
Market overview
Demographics & Economy
Middlebury, IN has 12,552 residents in 4,245 households. Density runs 211 people per square mile. Median household income here is $99,664 and median gross rent $1,074 a month.
12,552
Population
4,245
Households
3
Avg Household Size
33
Median Age
19%
College-Educated
71%
High-School Grad
59.4 sq mi
ZIP Area
211
Density / Sq Mi
$99,664
Median Household Income
$45,850
Median Earnings
$1,074
Median Rent
$297,800
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Shipshewana | — | — |
| Bristol | — | — |
| Mottville | — | — |
| Goshen | — | — |
Frequently Asked Questions
What zoning applies to commercial property in Middlebury?
Middlebury, IN zones 2,815 acres across 11 districts, of which 20.9% is commercial and 49.7% industrial. The largest single district is General Manufacturing at 24.2% of zoned land. The purpose of the M-2, Heavy Manufacturing, zoning district is to accommodate moderately and highly intense manufacturing uses and to prevent encroachment by residential and lighter commercial uses that would eventually lead to land use conflicts. Permitted uses may produce heavy truck traffic, noise, odor or smoke. Residential zoning covers 10.6% and open space 0%.
Where does Realmo's Middlebury market data come from?
Realmo compiles Middlebury, IN figures from 11 active sale listings, 489 tracked off-market properties, the current Middlebury zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 11 active for-sale and 0 active for-lease listings in Middlebury, 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: 2,815 zoned acres across 11 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
