Commercial Real Estate Market in Shipshewana, IN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
1 active listing and 362 off-market properties in Shipshewana, IN.
Market Trends
Shipshewana, IN spans 63.2 square miles in LaGrange County, Indiana. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Shipshewana, 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 Shipshewana, IN runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Shipshewana, 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 Shipshewana, 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
- Commercial 50.1%
- Residential 24.2%
- Industrial 16.7%
- Planned_development 6.7%
- Open space 2.3%
Largest Zones share of zoned land by district
Neighborhood Business
Highway Business
Urban Residential
Rural Business And Industrial
Heavy Industrial
Shipshewana, IN zones 694 acres across 10 districts. Commercial zoning covers 50.1% of zoned land, residential 24.2%, open space 2.3% and industrial 16.7%. The largest single district is Neighborhood Business at 29.9%. For commercial buyers the practical constraint is that only 66.8% of land carries a commercial or industrial designation.
Highway Business (B-3)
The purpose of the B-3 District is to provide for highway oriented business uses offering accommodations, supplies and services to the general public, and ordinarily are located along highways designated as major arterials.
Market overview
Demographics & Economy
Shipshewana, IN has 9,104 residents in 2,574 households. Density runs 144 people per square mile. Median household income here is $95,578 and median gross rent $806 a month.
9,104
Population
2,574
Households
3.5
Avg Household Size
27
Median Age
7%
College-Educated
39%
High-School Grad
63.2 sq mi
ZIP Area
144
Density / Sq Mi
$95,578
Median Household Income
$52,902
Median Earnings
$806
Median Rent
$318,800
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Middlebury | — | — |
| Lagrange | — | — |
| Topeka | — | — |
| Ontario | — | — |
Frequently Asked Questions
What zoning applies to commercial property in Shipshewana?
Shipshewana, IN zones 694 acres across 10 districts, of which 50.1% is commercial and 16.7% industrial. The largest single district is Neighborhood Business at 29.9% of zoned land. Residential zoning covers 24.2% and open space 2.3%.
Where does Realmo's Shipshewana market data come from?
Realmo compiles Shipshewana, IN figures from 1 active sale listings, 362 tracked off-market properties, the current Shipshewana zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 1 active for-sale and 0 active for-lease listings in Shipshewana, 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: 694 zoned acres across 10 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
