Commercial Real Estate Market in New Bedford, MA
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
246 active listings and 2,263 off-market properties in New Bedford, MA. Commercial property asks $141/SF to buy and $15.33/SF/Yr to lease.
Market Trends
New Bedford, MA spans 37.8 square miles in Bristol County, Massachusetts. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in New Bedford, MA runs 19.9% across the Northeast region in 2025, up from 13.1% in 2019.
Vacancy Rate % in Northeast region
Retail
Retail vacancy in New Bedford, MA runs 6% across the Northeast region in 2025, little changed from 6% in 2019. Down from a 2020 peak of 7.1%.
Vacancy Rate % in Northeast region
Industrial
Industrial vacancy in New Bedford, MA runs 7.6% across the Northeast region in 2025, up from 5.4% in 2019. Nearly 2.4x the 2021 low of 3.2%.
Vacancy Rate % in Northeast region
Multifamily
Multifamily space in New Bedford, MA asks $229/SF to buy. Vacancy runs 5.6% across the Northeast region in 2025, up from 4% in 2022.
Average Sale Price $/SF
Listings
Vacancy Rate % in Northeast region
Market overview
Demographics & Economy
New Bedford, MA has 111,346 residents in 48,569 households. Density runs 2,948 people per square mile. Median household income here is $60,100 and median gross rent $1,090 a month.
111,346
Population
48,569
Households
2.3
Avg Household Size
39
Median Age
18%
College-Educated
77%
High-School Grad
37.8 sq mi
ZIP Area
2,948
Density / Sq Mi
$60,100
Median Household Income
$41,405
Median Earnings
$1,090
Median Rent
$329,472
Median Home Value
Tools
Lease vs Buy Breakeven
At $15.33/SF/Yr lease vs $141/SF buy → buying wins if held > 1.2 years.
At a 10.9% gross asking yield the payback reads short relative to leasing. Assumes 30% down at 6.5% fixed, 2% a year in taxes and upkeep, 3% appreciation, 5% opportunity cost, 2% closing plus 5% selling costs, and a 3% annual rent escalator.
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Fairhaven | — | — |
| Acushnet | — | — |
| Dartmouth | — | $22.50 |
| Westport | — | $15.47 |
Commercial property in New Bedford, MA asks $141/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in New Bedford?
Commercial property in New Bedford, MA asks an average of $141 per square foot. The 6 most recent recorded sales traded at a median of $176/SF. Multifamily carries the highest asking price at $229/SF.
How much does it cost to lease commercial space in New Bedford?
Asking lease rates in New Bedford, MA average $15.33 per square foot per year.
Is it cheaper to lease or buy commercial space in New Bedford?
Buying beats leasing in New Bedford, MA if the property is held longer than 1.2 years, comparing $15.33/SF/Yr asking rent with $141/SF asking price. The model assumes 30% down at 6.5% fixed, 2% of value per year in taxes and upkeep, 3% appreciation, 5% opportunity cost on the cash and a 3% annual rent escalator.
Where does Realmo's New Bedford market data come from?
Realmo compiles New Bedford, MA figures from 8 recent recorded sales, 188 active sale listings, 58 active lease listings, 2,263 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 188 active for-sale and 58 active for-lease listings in New Bedford, MA. 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 Northeast region level, retail vacancy is reported at Northeast region level and industrial vacancy is reported at Northeast 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
