Commercial Real Estate Market in Monterey, IN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
4 active listings and 53 off-market properties in Monterey, IN.
Market Trends
Monterey, IN spans 40.7 square miles in Pulaski County, Indiana. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Monterey, 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 Monterey, IN runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Monterey, 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 Monterey, 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 88.1%
- Open space 8.3%
- Civic 3.6%
Largest Zones share of zoned land by district
General Agriculture District
Urban Residential District
Suburban Residential District
Recreation District
Urban Commercial District
Monterey, IN zones 88 acres across 6 districts. The largest single district is General Agriculture District at 43.2%.
General Agriculture District (A-1)
Pulaski County is a crop producing county. The purpose of the A-1 Agriculture District is to provide for and protect substantial areas of contiguous land where little or no urbanization has occurred or is planned to occur. It is the intent of this district to limit residential uses, thereby discouraging the development of residential subdivisions, in order t…
Market overview
Demographics & Economy
Monterey, IN has 1,102 residents in 603 households. Density runs 27 people per square mile. Median household income here is $44,012 and median gross rent $579 a month.
1,102
Population
603
Households
1.8
Avg Household Size
47
Median Age
21%
College-Educated
90%
High-School Grad
40.7 sq mi
ZIP Area
27
Density / Sq Mi
$44,012
Median Household Income
$36,893
Median Earnings
$579
Median Rent
$130,200
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Delong | — | — |
| Ora | — | — |
| Leiters Ford | — | — |
| Culver | — | — |
Commercial property in Monterey, IN asks $70/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Monterey?
Commercial property in Monterey, IN asks an average of $70 per square foot.
What zoning applies to commercial property in Monterey?
Monterey, IN zones 88 acres across 6 districts, of which 0% is commercial and 0% industrial. The largest single district is General Agriculture District at 43.2% of zoned land. Pulaski County is a crop producing county. The purpose of the A-1 Agriculture District is to provide for and protect substantial areas of contiguous land where little or no urbanization has occurred or is planned to occur. It is the intent of this district to limit residential uses, thereby discouraging the development of residential subdivisions, in order t… Residential zoning covers 88.1% and open space 8.3%.
Where does Realmo's Monterey market data come from?
Realmo compiles Monterey, IN figures from 4 active sale listings, 53 tracked off-market properties, the current Monterey zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 4 active for-sale and 0 active for-lease listings in Monterey, 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: 88 zoned acres across 6 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
