Commercial Real Estate Market in Elsmere, KY
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
1 active listing and 955 off-market properties in Elsmere, KY.
Market Trends
Elsmere, KY spans 11.6 square miles in Kenton County, Kentucky. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Elsmere, 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 Elsmere, KY runs 5.4% across the South region in 2025, down from 7% in 2020.
Vacancy Rate % in South region
Industrial
Industrial vacancy in Elsmere, 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 Elsmere, 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 51.8%
- Industrial 34.9%
- Residential 7.7%
- Planned_development 3.6%
- Civic 2%
Largest Zones share of zoned land by district
Residential Compact Subdivision
General Industrial
Mobile Home Park
Planned Unit Development
Residential Multifamily
Elsmere, KY zones 1,684 acres across 11 districts. Commercial zoning covers 51.8% of zoned land, residential 7.7% and industrial 34.9%. The largest single district is Residential Compact Subdivision at 46.1%. For commercial buyers the practical constraint is that only 86.8% of land carries a commercial or industrial designation.
Residential Compact Subdivision (R-CPS)
The Residential Compact Subdivision District is intended to accommodate single-family residential neighborhoods comprised of smaller lots. Because of the smaller lot sizes, subdivisions should contain common open space and amenities. This district may be used to provide a transition between lower density residential areas and multi-family, commercial, or cen…
Market overview
Demographics & Economy
Elsmere, KY has 29,305 residents in 11,926 households. Density runs 2,532 people per square mile. Median household income here is $70,267 and median gross rent $1,044 a month.
29,305
Population
11,926
Households
2.5
Avg Household Size
36
Median Age
28%
College-Educated
91%
High-School Grad
11.6 sq mi
ZIP Area
2,532
Density / Sq Mi
$70,267
Median Household Income
$40,537
Median Earnings
$1,044
Median Rent
$173,700
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Erlanger | — | $13.17 |
| Edgewood | — | — |
| Crestview Hills | — | — |
| Florence | — | $9.98 |
Commercial property in Elsmere, KY asks $149/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Elsmere?
Commercial property in Elsmere, KY asks an average of $149 per square foot. The 5 most recent recorded sales traded at a median of $75/SF, so asking sits 98% above the achieved median.
What zoning applies to commercial property in Elsmere?
Elsmere, KY zones 1,684 acres across 11 districts, of which 51.8% is commercial and 34.9% industrial. The largest single district is Residential Compact Subdivision at 46.1% of zoned land. The Residential Compact Subdivision District is intended to accommodate single-family residential neighborhoods comprised of smaller lots. Because of the smaller lot sizes, subdivisions should contain common open space and amenities. This district may be used to provide a transition between lower density residential areas and multi-family, commercial, or cen… Residential zoning covers 7.7% and open space 0%.
Where does Realmo's Elsmere market data come from?
Realmo compiles Elsmere, KY figures from 5 recent recorded sales, 1 active sale listings, 955 tracked off-market properties, the current Elsmere 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 Elsmere, 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: 1,684 zoned acres across 11 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 and industrial vacancy is reported at South 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
