Commercial Real Estate Market in Island, KY
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
Market Trends
Island, KY spans 41.6 square miles in McLean County, Kentucky. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Island, 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 Island, KY runs 5.4% across the South region in 2025, down from 7% in 2020.
Vacancy Rate % in South region
Industrial
Industrial vacancy in Island, 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 Island, 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
- Residential 75.7%
- Agricultural 17.9%
- Commercial 6.5%
Largest Zones share of zoned land by district
Residential
Agricultural
Commercial
Island, KY zones 223 acres across 3 districts. Commercial zoning covers 6.5% of zoned land, residential 75.7%. The largest single district is Residential at 75.7%. For commercial buyers the practical constraint is that only 6.5% of land carries a commercial or industrial designation.
Residential (R)
Residential District is intended to provide for single family dwellings and multi-family residences
Market overview
Demographics & Economy
Island, KY has 1,334 residents in 569 households. Density runs 32 people per square mile. Median household income here is $77,125 and median gross rent $916 a month.
1,334
Population
569
Households
2.3
Avg Household Size
44
Median Age
16%
College-Educated
95%
High-School Grad
41.6 sq mi
ZIP Area
32
Density / Sq Mi
$77,125
Median Household Income
$37,125
Median Earnings
$916
Median Rent
$128,800
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Livermore | — | — |
| Nuckols | — | — |
| Sacramento | — | — |
| Bremen | — | — |
Frequently Asked Questions
What zoning applies to commercial property in Island?
Island, KY zones 223 acres across 3 districts, of which 6.5% is commercial and 0% industrial. The largest single district is Residential at 75.7% of zoned land. Residential District is intended to provide for single family dwellings and multi-family residences Residential zoning covers 75.7% and open space 0%.
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: 223 zoned acres across 3 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
