Commercial Real Estate Market in Honor, MI
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
19 active listings and 102 off-market properties in Honor, MI.
Market Trends
Honor, MI spans 64.0 square miles in Benzie County, Michigan. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Honor, MI runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Vacancy Rate % in Midwest region
Retail
Retail vacancy in Honor, MI runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Honor, 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 Honor, 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
- Residential 53.8%
- Commercial 39.2%
- Open space 7.1%
Largest Zones share of zoned land by district
Residential Medium Density
Residential Village Center
Commercial Services
Residential Riverfront
Resort
Honor, MI zones 269 acres across 7 districts. Commercial zoning covers 39.2% of zoned land, residential 53.8% and open space 7.1%. The largest single district is Residential Medium Density at 34.6%. For commercial buyers the practical constraint is that only 39.2% of land carries a commercial or industrial designation.
Commercial Services (C-2)
LLAGE CENTER COMMERCIAL (C-1) 22 Sec. 8.1 Permitted Principal Uses 22 Sec. 8.2 Permitted Accessory Uses 22 Sec. 8.3 Permitted Special Land Uses 22 Sec. 8.4 Lot And Building Requirements 22 ARTICLE IX GENERAL COMMERCIAL (C-2) 23 Sec. 9.1 Permitted Principal Uses 23 Sec. 9.2 Permitted Accessory Uses 23 Sec. 9.3 Permitted Special Land Uses 23 Sec. 9.4 Lot And B…
Market overview
Demographics & Economy
Honor, MI has 1,501 residents in 1,236 households. Density runs 23 people per square mile. Median household income here is $83,750 and median gross rent $805 a month.
1,501
Population
1,236
Households
1.2
Avg Household Size
53
Median Age
42%
College-Educated
92%
High-School Grad
64 sq mi
ZIP Area
23
Density / Sq Mi
$83,750
Median Household Income
$36,071
Median Earnings
$805
Median Rent
$285,000
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Beulah | — | — |
| Benzonia | — | — |
| Empire | — | — |
| Lake Ann | — | — |
Commercial property in Honor, MI asks $170/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Honor?
Commercial property in Honor, MI asks an average of $170 per square foot.
What zoning applies to commercial property in Honor?
Honor, MI zones 269 acres across 7 districts, of which 39.2% is commercial and 0% industrial. The largest single district is Residential Medium Density at 34.6% of zoned land. Residential zoning covers 53.8% and open space 7.1%.
Where does Realmo's Honor market data come from?
Realmo compiles Honor, MI figures from 19 active sale listings, 102 tracked off-market properties, the current Honor zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 19 active for-sale and 0 active for-lease listings in Honor, 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: 269 zoned acres across 7 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
