Commercial Real Estate Market in Grayling, MI
Updated monthly: sale, lease, property records, location trend, and more… · Last update: October 31
18 active listings and 977 off-market properties in Grayling, MI.
Market Trends
Grayling, MI spans 332.6 square miles in Crawford County, Michigan. Figures below refresh monthly; last updated 31 October 2026.
Office
Office vacancy in Grayling, MI runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Retail
Retail vacancy in Grayling, MI runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Industrial
Industrial vacancy in Grayling, 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%.
Multifamily
Multifamily vacancy in Grayling, MI runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Zoning & Land Use
Land Use Mix share of zoned land by category
- Commercial 21.7%
- Industrial 21.6%
- Open space 20.4%
- Residential 19%
- Civic 15.4%
- Mixed use 1.9%
Largest Zones share of zoned land by district
Grayling, MI zones 1,310 acres across 11 districts. Commercial zoning covers 21.7% of zoned land, residential 19%, open space 20.4% and industrial 21.6%. The largest single district is Industrial at 21.6%. For commercial buyers the practical constraint is that only 43.3% of land carries a commercial or industrial designation.
Market overview
Demographics & Economy
Grayling, MI has 9,498 residents in 7,299 households. Density runs 29 people per square mile. Median household income here is $57,573 and median gross rent $855 a month.
Tools
Frequently Asked Questions
What is the median price per square foot for commercial property in Grayling?
What zoning applies to commercial property in Grayling?
Where does Realmo's Grayling market data come from?
Methodology & data sources
- Asking prices and medians
- There are 14 active for-sale and 4 active for-lease listings in Grayling, MI. The sale median is based on 11 of the for-sale listings that state a price per square foot; too few for-lease listings state a rent per square foot for a rent median. These are ASKING figures from live listings, not closed-transaction prices, and a figure resting on fewer than 10 listings says so where it is quoted.
- 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: 1,310 zoned acres across 11 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 October 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 October 2026 · How Realmo checks market page data · Report a data issue
