Commercial Real Estate Market in Hillsdale, MI
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
52 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 August 2026.
Office
Office vacancy in Hillsdale, MI runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Vacancy Rate % in Midwest region
Retail
Retail space in Hillsdale, MI asks $82/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 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%.
Vacancy Rate % in Midwest region
Multifamily
Multifamily vacancy in Hillsdale, MI runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Vacancy Rate % in Midwest region
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
Residential Single Family
Parks
One And Two Family Residential
Light Industrial
General Business
Parks (PRF)
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.
14,812
Population
6,687
Households
2.2
Avg Household Size
38
Median Age
25%
College-Educated
93%
High-School Grad
90.6 sq mi
ZIP Area
163
Density / Sq Mi
$57,813
Median Household Income
$28,886
Median Earnings
$770
Median Rent
$182,900
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Osseo | — | — |
| Frontier | — | — |
| Reading | — | — |
| Jonesville | — | — |
Commercial property in Hillsdale, MI asks $75/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Hillsdale?
Commercial property in Hillsdale, MI asks an average of $75 per square foot. Retail carries the highest asking price at $82/SF.
Where does Realmo's Hillsdale market data come from?
Realmo compiles Hillsdale, MI figures from 6 recent recorded sales, 52 active sale listings, 771 tracked off-market properties, the current Hillsdale zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 52 active for-sale and 0 active for-lease listings in Hillsdale, 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.
- 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 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 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 August 2026 · report a data issue
