Commercial Real Estate Market in Richmond, KY
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
208 active listings and 1,202 off-market properties in Richmond, KY. Commercial property asks $51/SF to buy and $10.71/SF/Yr to lease.
Market Trends
Richmond, KY spans 287.3 square miles in Madison County, Kentucky. Figures below refresh monthly; last updated 31 August 2026.
Office
Office space in Richmond, KY asks $149/SF to buy. Vacancy runs 20.2% across the South region in 2025, up from 14.4% in 2019.
Average Sale Price $/SF
Listings
Vacancy Rate % in South region
Retail
Retail space in Richmond, KY asks $197/SF to buy. Vacancy runs 5.4% across the South region in 2025, down from 7% in 2020.
Average Sale Price $/SF
Listings
Vacancy Rate % in South region
Industrial
Industrial vacancy in Richmond, 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 space in Richmond, KY asks $129/SF to buy. Vacancy runs 11.3% across the South region in 2025, up from 8.5% in 2022.
Average Sale Price $/SF
Listings
Vacancy Rate % in South region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 58%
- Commercial 15.8%
- Industrial 11.9%
- Civic 8.9%
- Planned_development 5.3%
Largest Zones share of zoned land by district
Agricultural District
Highway Business District
Industrial Park District
Single Family Residential District
Single Family Residential District
Richmond, KY zones 14,863 acres across 18 districts. Commercial zoning covers 15.8% of zoned land, residential 58% and industrial 11.9%. The largest single district is Agricultural District at 22.3%. For commercial buyers the practical constraint is that only 27.8% of land carries a commercial or industrial designation.
Market overview
Demographics & Economy
Richmond, KY has 62,531 residents in 28,118 households. Density runs 218 people per square mile. Median household income here is $62,731 and median gross rent $863 a month.
62,531
Population
28,118
Households
2.2
Avg Household Size
35
Median Age
37%
College-Educated
93%
High-School Grad
287.3 sq mi
ZIP Area
218
Density / Sq Mi
$62,731
Median Household Income
$35,102
Median Earnings
$863
Median Rent
$232,700
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Waco | — | — |
| Bybee | — | — |
| Ford | — | — |
| College Hill | — | — |
Commercial property in Richmond, KY asks $51/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Richmond?
Commercial property in Richmond, KY asks an average of $51 per square foot. The 3 most recent recorded sales traded at a median of $140/SF. Retail carries the highest asking price at $197/SF.
How much does it cost to lease commercial space in Richmond?
Asking lease rates in Richmond, KY average $10.71 per square foot per year.
What zoning applies to commercial property in Richmond?
Richmond, KY zones 14,863 acres across 18 districts, of which 15.8% is commercial and 11.9% industrial. The largest single district is Agricultural District at 22.3% of zoned land. Residential zoning covers 58% and open space 0%.
Where does Realmo's Richmond market data come from?
Realmo compiles Richmond, KY figures from 4 recent recorded sales, 177 active sale listings, 31 active lease listings, 1,202 tracked off-market properties, the current Richmond zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 177 active for-sale and 31 active for-lease listings in Richmond, 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: 14,863 zoned acres across 18 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
