Commercial Real Estate Market in Paragon, IN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
4 active listings and 85 off-market properties in Paragon, IN.
Market Trends
Paragon, IN spans 38.9 square miles in Morgan County, Indiana. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Paragon, 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 Paragon, IN runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Paragon, 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 Paragon, 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 76.7%
- Commercial 14.1%
- Industrial 9.2%
Largest Zones share of zoned land by district
Medium Density Residential District
Agriculture District
Regional Commercial District
Heavy Industrial District
Neighborhood Commercial District
Paragon, IN zones 140 acres across 7 districts. Commercial zoning covers 14.1% of zoned land, residential 76.7% and industrial 9.2%. The largest single district is Medium Density Residential District at 63.6%. For commercial buyers the practical constraint is that only 23.3% of land carries a commercial or industrial designation.
Medium Density Residential District (R2)
Medium-Density Residential District R-2 High-Density Residential District R-3 Neighborhood Commercial District B-1 General Commercial District B-2 Regional Commercial District B-3 Light Industrial District I-1 Heavy Industrial District I-2 Planned Unit Development District PUD 2. Establishment of Overlay Districts. The following overlay districts have been e…
Market overview
Demographics & Economy
Paragon, IN has 2,374 residents in 1,168 households. Density runs 61 people per square mile. Median household income here is $82,528 and median gross rent $960 a month.
2,374
Population
1,168
Households
2
Avg Household Size
43
Median Age
11%
College-Educated
89%
High-School Grad
38.9 sq mi
ZIP Area
61
Density / Sq Mi
$82,528
Median Household Income
$42,654
Median Earnings
$960
Median Rent
$148,600
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Baker | — | — |
| Gosport | — | — |
| Centerton | — | — |
| Martinsville | — | $13.20 |
Frequently Asked Questions
What zoning applies to commercial property in Paragon?
Paragon, IN zones 140 acres across 7 districts, of which 14.1% is commercial and 9.2% industrial. The largest single district is Medium Density Residential District at 63.6% of zoned land. Medium-Density Residential District R-2 High-Density Residential District R-3 Neighborhood Commercial District B-1 General Commercial District B-2 Regional Commercial District B-3 Light Industrial District I-1 Heavy Industrial District I-2 Planned Unit Development District PUD 2. Establishment of Overlay Districts. The following overlay districts have been e… Residential zoning covers 76.7% and open space 0%.
Where does Realmo's Paragon market data come from?
Realmo compiles Paragon, IN figures from 3 active sale listings, 1 active lease listings, 85 tracked off-market properties, the current Paragon zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 3 active for-sale and 1 active for-lease listings in Paragon, 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: 140 zoned acres across 7 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
