Commercial Real Estate Market in Farwell, MI
Updated monthly: sale, lease, property records, location trend, and more… · Last update: September 30
3,081 active listings and 40,823 off-market properties in Farwell, MI. Commercial property asks $77/SF to buy and $20.55/SF/Yr to lease.
Market Trends
Farwell, MI spans 86.1 square miles in Wayne County, Michigan. Figures below refresh monthly; last updated 30 September 2026.
Office
Office space in Farwell, MI asks $21.66/SF/Yr to lease and $86/SF to buy. Vacancy runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Retail
Retail space in Farwell, MI asks $19.63/SF/Yr to lease and $101/SF to buy. Vacancy runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Industrial
Industrial vacancy in Farwell, 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 Farwell, MI asks $69/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
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 72.5%
- Industrial 14.8%
- Commercial 12.7%
Largest Zones share of zoned land by district
Low Density Residential District
Medium Density Residential District
Limited Manufacturing District
General Service District
Intensive Manufacturing District
Farwell, MI zones 899 acres across 8 districts. Commercial zoning covers 12.7% of zoned land, residential 72.5% and industrial 14.8%. The largest single district is Low Density Residential District at 50.9%. For commercial buyers the practical constraint is that only 27.5% of land carries a commercial or industrial designation.
Low Density Residential District (LDR)
LDR, LOW DENSITY RESIDENTIAL DISTRICT Section 6.01 Statement of Purpose. The LDR, Low Density Residential District is established as a district in which the principal use of land is for one-family dwellings on lot sizes larger than those found in the core village. The specific intent is to encourage the construction of, and the continued use of the land for…
Market overview
Demographics & Economy
Farwell, MI has 6,364 residents in 3,213 households. Density runs 74 people per square mile. Median household income here is $57,500 and median gross rent $754 a month.
6,364
Population
3,213
Households
2
Avg Household Size
47
Median Age
18%
College-Educated
93%
High-School Grad
86.1 sq mi
ZIP Area
74
Density / Sq Mi
$57,500
Median Household Income
$36,019
Median Earnings
$754
Median Rent
$123,600
Median Home Value
Tools
Nearby Markets
Commercial property in Farwell, MI asks $77/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Farwell?
Commercial property in Farwell, MI asks an average of $77 per square foot. Retail carries the highest asking price at $101/SF.
How much does it cost to lease commercial space in Farwell?
Asking lease rates in Farwell, MI average $20.55 per square foot per year. Office asks $21.66/SF/Yr as of Q2 26, up from $19.11/SF/Yr in Q1 26.
What zoning applies to commercial property in Farwell?
Farwell, MI zones 899 acres across 8 districts, of which 12.7% is commercial and 14.8% industrial. The largest single district is Low Density Residential District at 50.9% of zoned land. LDR, LOW DENSITY RESIDENTIAL DISTRICT Section 6.01 Statement of Purpose. The LDR, Low Density Residential District is established as a district in which the principal use of land is for one-family dwellings on lot sizes larger than those found in the core village. The specific intent is to encourage the construction of, and the continued use of the land for… Residential zoning covers 72.5% and open space 0%.
Where does Realmo's Farwell market data come from?
Realmo compiles Farwell, MI figures from 3 recent recorded sales, 2,739 active sale listings, 342 active lease listings, 40,823 tracked off-market properties, the current Farwell zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 30 September 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 2,739 active for-sale and 342 active for-lease listings in Farwell, 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.
- Price per square foot
- The county-level $/SF blends closed sales aggregated over the trailing months of available data, not a single day's snapshot — it can differ from any one month's own median.
- 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: 899 zoned acres across 8 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 30 September 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 and industrial vacancy is reported at Midwest 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 30 September 2026 · report a data issue
