Commercial Real Estate Market in Melbourne, KY
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
3 active listings and 98 off-market properties in Melbourne, KY.
Market Trends
Melbourne, KY spans 15.4 square miles in Campbell County, Kentucky. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Melbourne, 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 Melbourne, KY runs 5.4% across the South region in 2025, down from 7% in 2020.
Vacancy Rate % in South region
Industrial
Industrial vacancy in Melbourne, 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 Melbourne, 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 69.2%
- Open space 29.1%
- Commercial 1.7%
Largest Zones share of zoned land by district
Residential One A
River Recreation Conservation
Residential One C
Residential One B
Residential Rural Estate Conditional
Melbourne, KY zones 541 acres across 7 districts. Commercial zoning covers 1.7% of zoned land, residential 69.2% and open space 29.1%. The largest single district is Residential One A at 34.7%. For commercial buyers the practical constraint is that only 1.7% of land carries a commercial or industrial designation.
Residential One A (R-1A)
The Intent of this zone is to promote Residential Single Family uses
Market overview
Demographics & Economy
Melbourne, KY has 2,692 residents in 1,286 households. Density runs 175 people per square mile. Median household income here is $53,667 and median gross rent $709 a month.
2,692
Population
1,286
Households
2.1
Avg Household Size
46
Median Age
21%
College-Educated
90%
High-School Grad
15.4 sq mi
ZIP Area
175
Density / Sq Mi
$53,667
Median Household Income
$45,534
Median Earnings
$709
Median Rent
$212,400
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Silver Grove | — | — |
| Ross | — | — |
| Crestview | — | — |
| Anderson | — | — |
Frequently Asked Questions
What zoning applies to commercial property in Melbourne?
Melbourne, KY zones 541 acres across 7 districts, of which 1.7% is commercial and 0% industrial. The largest single district is Residential One A at 34.7% of zoned land. The Intent of this zone is to promote Residential Single Family uses Residential zoning covers 69.2% and open space 29.1%.
Where does Realmo's Melbourne market data come from?
Realmo compiles Melbourne, KY figures from 2 recent recorded sales, 3 active sale listings, 98 tracked off-market properties, the current Melbourne zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 3 active for-sale and 0 active for-lease listings in Melbourne, 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: 541 zoned acres across 7 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
