Commercial Real Estate Market in Lancaster, KY
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
120 active listings and 423 off-market properties in Lancaster, KY. Commercial property asks $14/SF to buy and $7.00/SF/Yr to lease.
Market Trends
Lancaster, KY spans 159.5 square miles in Garrard County, Kentucky. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Lancaster, 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 Lancaster, KY runs 5.4% across the South region in 2025, down from 7% in 2020.
Vacancy Rate % in South region
Industrial
Industrial vacancy in Lancaster, 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 Lancaster, 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
Lancaster, KY has 14,075 residents in 6,096 households. Density runs 88 people per square mile. Median household income here is $62,324 and median gross rent $785 a month.
14,075
Population
6,096
Households
2.3
Avg Household Size
44
Median Age
19%
College-Educated
88%
High-School Grad
159.5 sq mi
ZIP Area
88
Density / Sq Mi
$62,324
Median Household Income
$40,473
Median Earnings
$785
Median Rent
$194,100
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Bryantsville | — | — |
| Stanford | — | — |
| Paint Lick | — | — |
| Danville | — | $10.00 |
Commercial property in Lancaster, KY asks $14/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Lancaster?
Commercial property in Lancaster, KY asks an average of $14 per square foot.
How much does it cost to lease commercial space in Lancaster?
Asking lease rates in Lancaster, KY average $7.00 per square foot per year.
Where does Realmo's Lancaster market data come from?
Realmo compiles Lancaster, KY figures from 8 recent recorded sales, 119 active sale listings, 1 active lease listings, 423 tracked off-market properties. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 119 active for-sale and 1 active for-lease listings in Lancaster, 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
