Commercial Real Estate Market in Topeka, IN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
Market Trends
Topeka, IN spans 45.0 square miles in LaGrange County, Indiana. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Topeka, 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 Topeka, IN runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Topeka, 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 Topeka, 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 65.8%
- Residential 25.5%
- Commercial 7.1%
- Open space 1.6%
Largest Zones share of zoned land by district
Heavy Industrial
Urban Residential
Rural Business And Industrial
Suburban Residential
Highway Business
Topeka, IN zones 1,092 acres across 9 districts. Commercial zoning covers 7.1% of zoned land, residential 25.5%, open space 1.6% and industrial 65.8%. The largest single district is Heavy Industrial at 51.9%. For commercial buyers the practical constraint is that only 72.9% of land carries a commercial or industrial designation.
Heavy Industrial (I-2)
The purpose of the I-2 District is to provide appropriate locations for those industrial uses that require outside storage or activity. Often these industries have objectionable factors such as noise that are difficult to eliminate.
Market overview
Demographics & Economy
Topeka, IN has 6,203 residents in 1,761 households. Density runs 138 people per square mile. Median household income here is $84,705 and median gross rent $918 a month.
6,203
Population
1,761
Households
3.5
Avg Household Size
24
Median Age
4%
College-Educated
31%
High-School Grad
45 sq mi
ZIP Area
138
Density / Sq Mi
$84,705
Median Household Income
$41,098
Median Earnings
$918
Median Rent
$312,900
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Cosperville | — | — |
| Ligonier | — | — |
| Wawaka | — | — |
| Witmer Manor | — | — |
Frequently Asked Questions
What zoning applies to commercial property in Topeka?
Topeka, IN zones 1,092 acres across 9 districts, of which 7.1% is commercial and 65.8% industrial. The largest single district is Heavy Industrial at 51.9% of zoned land. The purpose of the I-2 District is to provide appropriate locations for those industrial uses that require outside storage or activity. Often these industries have objectionable factors such as noise that are difficult to eliminate. Residential zoning covers 25.5% and open space 1.6%.
Methodology & data sources
- 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: 1,092 zoned acres across 9 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
