Commercial Real Estate Market in Hillsdale, MI
Updated monthly: sale, lease, property records, location trend, and more… · Last update: October 31
15 active listings and 771 off-market properties in Hillsdale, MI.
Market Trends
Hillsdale, MI spans 90.6 square miles in Hillsdale County, Michigan. Figures below refresh monthly; last updated 31 October 2026.
Office
Office vacancy in Hillsdale, MI runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Retail
Retail vacancy in Hillsdale, MI runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Industrial
Industrial vacancy in Hillsdale, 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 Hillsdale, 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
- Civic 65.1%
- Commercial 16.8%
- Industrial 12.5%
- Mixed use 5.6%
Largest Zones share of zoned land by district
DIVISION 12. - PRF PARK AND RECREATIONAL FACILITIES DISTRICT Sec. 36-371. - Purpose. The PRF park and recreational facilities district and regulations are intended to provide an appropriate zoning classification for specified governmental, civic and recreational facilities where a separate zoning district is deemed appropriate. This
Market overview
Demographics & Economy
Hillsdale, MI has 14,812 residents in 6,687 households. Density runs 163 people per square mile. Median household income here is $57,813 and median gross rent $770 a month.
Tools
Nearby Markets
| Market | Median Asking Price, $/SF | Median Asking Rent, $/SF/Yr |
|---|---|---|
| Reading | $64 | — |
| Jonesville | $44 | — |
Commercial property in Hillsdale, MI asks $92/SF. The 2 bordering markets run from $44/SF in Jonesville to $64/SF in Reading, and the city sits above their $54/SF median.
Frequently Asked Questions
What is the median price per square foot for commercial property in Hillsdale?
How does Hillsdale compare to nearby markets on price?
Where does Realmo's Hillsdale market data come from?
Methodology & data sources
- Asking prices and medians
- There are 14 active for-sale and 1 active for-lease listings in Hillsdale, MI. The sale median is based on 9 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: 3,991 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 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 31 October 2026 · How Realmo checks market page data · Report a data issue
