Commercial Real Estate Market in Murray, KY
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
206 active listings and 1,187 off-market properties in Murray, KY. Commercial property asks $17/SF to buy and $14.26/SF/Yr to lease.
Market Trends
Murray, KY spans 209.0 square miles in Calloway County, Kentucky. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Murray, 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 Murray, KY runs 5.4% across the South region in 2025, down from 7% in 2020.
Vacancy Rate % in South region
Industrial
Industrial vacancy in Murray, 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 Murray, 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 43.1%
- Civic 19.6%
- Commercial 14.4%
- Industrial 11%
- Agricultural 10.5%
- Special 1.4%
Largest Zones share of zoned land by district
Residential
Government
Highway Business
Industrial
Agricultural
Agricultural (AG)
This zone is established to preserve the rural character of the agricultural service area by promoting agriculture and agricultural related uses
Market overview
Demographics & Economy
Murray, KY has 29,703 residents in 14,174 households. Density runs 142 people per square mile. Median household income here is $48,976 and median gross rent $841 a month.
29,703
Population
14,174
Households
2.1
Avg Household Size
35
Median Age
35%
College-Educated
92%
High-School Grad
209 sq mi
ZIP Area
142
Density / Sq Mi
$48,976
Median Household Income
$29,805
Median Earnings
$841
Median Rent
$188,700
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Oakdale | — | — |
| Almo | — | — |
| Shiloh | — | — |
| Almo Heights | — | — |
Commercial property in Murray, KY asks $17/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Murray?
Commercial property in Murray, KY asks an average of $17 per square foot. The 4 most recent recorded sales traded at a median of $34/SF.
How much does it cost to lease commercial space in Murray?
Asking lease rates in Murray, KY average $14.26 per square foot per year.
Where does Realmo's Murray market data come from?
Realmo compiles Murray, KY figures from 5 recent recorded sales, 196 active sale listings, 10 active lease listings, 1,187 tracked off-market properties, the current Murray zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 196 active for-sale and 10 active for-lease listings in Murray, 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: 7,502 zoned acres across 15 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
