Commercial Real Estate Market in Highland Park, MI
Updated monthly: sale, lease, property records, location trend, and more… · Last update: September 30
96 active listings and 1,208 off-market properties in Highland Park, MI. Commercial property asks $77/SF to buy and $12.44/SF/Yr to lease.
Market Trends
Highland Park, MI spans 8.2 square miles in Wayne County, Michigan. Figures below refresh monthly; last updated 30 September 2026.
Office
Office space in Highland Park, MI asks $86/SF to buy. Vacancy runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Average Sale Price $/SF
Listings
Vacancy Rate % in Midwest region
Retail
Retail space in Highland Park, MI asks $101/SF to buy. Vacancy runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Average Sale Price $/SF
Listings
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Highland Park, 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 Highland Park, 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
Market overview
Demographics & Economy
Highland Park, MI has 22,168 residents in 13,591 households. Density runs 2,700 people per square mile. Median household income here is $35,108 and median gross rent $799 a month.
22,168
Population
13,591
Households
1.6
Avg Household Size
39
Median Age
19%
College-Educated
85%
High-School Grad
8.2 sq mi
ZIP Area
2,700
Density / Sq Mi
$35,108
Median Household Income
$28,364
Median Earnings
$799
Median Rent
$76,100
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Hamtramck | $77 (county avg) | $11.18 |
| Detroit | $77 (county avg) | $20.55 |
Commercial property in Highland Park, MI asks $77/SF. The 2 bordering markets run from $77/SF in Hamtramck to $77/SF in Hamtramck, and the city sits in line with their $77/SF median.
Frequently Asked Questions
What is the average price per square foot for commercial property in Highland Park?
Commercial property in Highland Park, 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 Highland Park?
Asking lease rates in Highland Park, MI average $12.44 per square foot per year.
How does Highland Park compare to nearby markets on price?
Highland Park, MI asks $77/SF against $77/SF in Hamtramck and $77/SF in Detroit.
Where does Realmo's Highland Park market data come from?
Realmo compiles Highland Park, MI figures from 84 active sale listings, 12 active lease listings, 1,208 tracked off-market properties. Sale and lease figures refresh monthly; vacancy annually. Last updated 30 September 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 84 active for-sale and 12 active for-lease listings in Highland Park, 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.
- 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
