Commercial Real Estate Market in Erie, MI
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
12 active listings and 383 off-market properties in Erie, MI. Commercial property asks $356/SF to buy and $10.00/SF/Yr to lease.
Market Trends
Erie, MI spans 27.2 square miles in Monroe County, Michigan. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Erie, MI runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Vacancy Rate % in Midwest region
Retail
Retail vacancy in Erie, MI runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Erie, MI runs 4.9% across the Midwest region in 2025, up from 4.4% in 2019. Nearly 1.6x the 2022 low of 3.1%.
Vacancy Rate % in Midwest region
Multifamily
Multifamily space in Erie, MI asks $97/SF to buy. Vacancy runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Average Sale Price $/SF
Listings
Vacancy Rate % in Midwest region
Market overview
Demographics & Economy
Erie, MI has 5,500 residents in 2,646 households. Density runs 202 people per square mile. Median household income here is $65,867 and median gross rent $851 a month.
5,500
Population
2,646
Households
2.1
Avg Household Size
45
Median Age
20%
College-Educated
91%
High-School Grad
27.2 sq mi
ZIP Area
202
Density / Sq Mi
$65,867
Median Household Income
$45,274
Median Earnings
$851
Median Rent
$181,400
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Luna Pier | — | — |
| Temperance | — | — |
| La Salle | — | — |
| Samaria | — | — |
Commercial property in Erie, MI asks $356/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Erie?
Commercial property in Erie, MI asks an average of $356 per square foot. The 4 most recent recorded sales traded at a median of $68/SF, so asking sits 420% above the achieved median. Multifamily carries the highest asking price at $97/SF.
How much does it cost to lease commercial space in Erie?
Asking lease rates in Erie, MI average $10.00 per square foot per year.
Where does Realmo's Erie market data come from?
Realmo compiles Erie, MI figures from 5 recent recorded sales, 11 active sale listings, 1 active lease listings, 383 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 11 active for-sale and 1 active for-lease listings in Erie, MI. 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 Midwest region level, retail vacancy is reported at Midwest region level, industrial vacancy is reported at Midwest region level and asking prices run materially above recent closed pricing.
- 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
