Commercial Real Estate Market in Ashland, KY
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
77 active listings and 1,472 off-market properties in Ashland, KY. Commercial property asks $130/SF to buy and $13.01/SF/Yr to lease.
Market Trends
Ashland, KY spans 60.0 square miles in Boyd County, Kentucky. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Ashland, KY runs 20.2% across the South region in 2025, up from 14.4% in 2019.
Vacancy Rate % in South region
Retail
Retail vacancy in Ashland, KY runs 5.4% across the South region in 2025, down from 7% in 2020.
Vacancy Rate % in South region
Industrial
Industrial vacancy in Ashland, KY runs 7.9% across the South region in 2025, up from 6% in 2019. Nearly 2.3x the 2022 low of 3.5%.
Vacancy Rate % in South region
Multifamily
Multifamily vacancy in Ashland, KY runs 11.3% across the South region in 2025, up from 8.5% in 2022.
Vacancy Rate % in South region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Commercial 80.6%
- Industrial 18.8%
- Civic 0.5%
- Planned_development 0.1%
Largest Zones share of zoned land by district
Single Family Residential Low Density
Single Family Residential Medium Density
Heavy Industrial
Multi Single Family Residential Medium Density
General Business
Ashland, KY zones 7,989 acres across 12 districts. Commercial zoning covers 80.6% of zoned land, industrial 18.8%. The largest single district is Single Family Residential Low Density at 30.3%. For commercial buyers the practical constraint is that only 99.4% of land carries a commercial or industrial designation.
Market overview
Demographics & Economy
Ashland, KY has 39,660 residents in 18,049 households. Density runs 661 people per square mile. Median household income here is $61,269 and median gross rent $845 a month.
39,660
Population
18,049
Households
2.2
Avg Household Size
43
Median Age
21%
College-Educated
89%
High-School Grad
60 sq mi
ZIP Area
661
Density / Sq Mi
$61,269
Median Household Income
$38,674
Median Earnings
$845
Median Rent
$137,551
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Millseat | — | — |
| Westwood | — | — |
| Coal Grove | — | — |
| West Fairview | — | — |
Commercial property in Ashland, KY asks $130/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Ashland?
Commercial property in Ashland, KY asks an average of $130 per square foot. The 3 most recent recorded sales traded at a median of $55/SF, so asking sits 134% above the achieved median.
How much does it cost to lease commercial space in Ashland?
Asking lease rates in Ashland, KY average $13.01 per square foot per year.
What zoning applies to commercial property in Ashland?
Ashland, KY zones 7,989 acres across 12 districts, of which 80.6% is commercial and 18.8% industrial. The largest single district is Single Family Residential Low Density at 30.3% of zoned land. Residential zoning covers 0% and open space 0%.
Where does Realmo's Ashland market data come from?
Realmo compiles Ashland, KY figures from 6 recent recorded sales, 71 active sale listings, 6 active lease listings, 1,472 tracked off-market properties, the current Ashland zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 71 active for-sale and 6 active for-lease listings in Ashland, KY. 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: 7,989 zoned acres across 12 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 South region level, retail vacancy is reported at South region level, industrial vacancy is reported at South region level and asking prices run materially above recent closed pricing.
- 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
