Commercial Real Estate Market in Gray, KY
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
12 active listings and 22 off-market properties in Gray, KY.
Market Trends
Gray, KY spans 45.4 square miles in Knox County, Kentucky. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Gray, 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 Gray, KY runs 5.4% across the South region in 2025, down from 7% in 2020.
Vacancy Rate % in South region
Industrial
Industrial vacancy in Gray, 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 Gray, KY runs 11.3% across the South region in 2025, up from 8.5% in 2022.
Vacancy Rate % in South region
Market overview
Demographics & Economy
Gray, KY has 3,877 residents in 1,712 households. Density runs 85 people per square mile. Median household income here is $40,270 and median gross rent $674 a month.
3,877
Population
1,712
Households
2.3
Avg Household Size
41
Median Age
8%
College-Educated
76%
High-School Grad
45.4 sq mi
ZIP Area
85
Density / Sq Mi
$40,270
Median Household Income
$21,506
Median Earnings
$674
Median Rent
$112,400
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Tuttle | — | — |
| Corbin | — | $13.82 |
| Lily | — | — |
| Tedders | — | — |
Commercial property in Gray, KY asks $4/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Gray?
Commercial property in Gray, KY asks an average of $4 per square foot.
Methodology & data sources
- Asking prices and averages
- Computed from 12 active for-sale and 0 active for-lease listings in Gray, 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.
- 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
