Commercial Real Estate Market in Waltham, MA
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
192 active listings and 1,142 off-market properties in Waltham, MA. Commercial property asks $279/SF to buy and $24.10/SF/Yr to lease.
Market Trends
Waltham, MA spans 12.7 square miles in Middlesex County, Massachusetts. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Waltham, 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 Waltham, 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 Waltham, 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 Waltham, MA asks $318/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
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 57.9%
- Commercial 23.7%
- Open space 16.2%
- Industrial 2%
- Mixed use 0.3%
Largest Zones share of zoned land by district
Residence A3
Conservation And Recreation
Residence A2
Commercial
Residence A4
Waltham, MA zones 7,947 acres across 16 districts. Commercial zoning covers 23.7% of zoned land, residential 57.9%, open space 16.2% and industrial 2%. The largest single district is Residence A3 at 18.8%. For commercial buyers the practical constraint is that only 25.7% of land carries a commercial or industrial designation.
Residence A3 (RA3)
This district is intended to be used for residential uses.
Market overview
Demographics & Economy
Waltham, MA has 65,147 residents in 26,853 households. Density runs 5,119 people per square mile. Median household income here is $115,274 and median gross rent $2,255 a month.
65,147
Population
26,853
Households
2.4
Avg Household Size
35
Median Age
56%
College-Educated
93%
High-School Grad
12.7 sq mi
ZIP Area
5,119
Density / Sq Mi
$115,274
Median Household Income
$56,390
Median Earnings
$2,255
Median Rent
$704,871
Median Home Value
Tools
Lease vs Buy Breakeven
At $24.10/SF/Yr lease vs $279/SF buy → buying wins if held > 1.9 years.
At a 8.6% 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 |
|---|---|---|
| Lincoln | — | — |
| Weston | — | — |
| Belmont | — | $39.89 |
| Newton | — | $33.99 |
Commercial property in Waltham, MA asks $279/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Waltham?
Commercial property in Waltham, MA asks an average of $279 per square foot. The 6 most recent recorded sales traded at a median of $566/SF. Multifamily carries the highest asking price at $318/SF.
How much does it cost to lease commercial space in Waltham?
Asking lease rates in Waltham, MA average $24.10 per square foot per year.
Is it cheaper to lease or buy commercial space in Waltham?
Buying beats leasing in Waltham, MA if the property is held longer than 1.9 years, comparing $24.10/SF/Yr asking rent with $279/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.
What zoning applies to commercial property in Waltham?
Waltham, MA zones 7,947 acres across 16 districts, of which 23.7% is commercial and 2% industrial. The largest single district is Residence A3 at 18.8% of zoned land. This district is intended to be used for residential uses. Residential zoning covers 57.9% and open space 16.2%.
Where does Realmo's Waltham market data come from?
Realmo compiles Waltham, MA figures from 7 recent recorded sales, 73 active sale listings, 119 active lease listings, 1,142 tracked off-market properties, the current Waltham zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 73 active for-sale and 119 active for-lease listings in Waltham, 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.
- Zoning and land use
- The current municipal zoning release: 7,947 zoned acres across 16 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 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
