Commercial Real Estate Market in Ironwood, MI
Updated monthly: sale, lease, property records, location trend, and more… · Last update: October 31
32 active listings and 674 off-market properties in Ironwood, MI.
Market Trends
Ironwood, MI spans 225.6 square miles in Gogebic County, Michigan. Figures below refresh monthly; last updated 31 October 2026.
Office
Office vacancy in Ironwood, MI runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Retail
Retail space in Ironwood, MI has a median asking sale price of $61/SF (based on 7 listings). Vacancy runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Industrial
Industrial vacancy in Ironwood, 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 space in Ironwood, MI has a median asking sale price of $60/SF (based on 9 listings). Vacancy 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
- Residential 67.5%
- Agricultural 14.8%
- Mixed use 8.7%
- Industrial 7.6%
- Commercial 1.4%
Largest Zones share of zoned land by district
Ironwood, MI zones 3,991 acres across 9 districts. Commercial zoning covers 1.4% of zoned land, residential 67.5% and industrial 7.6%. The largest single district is Single And Two Family Residential at 38.6%. For commercial buyers the practical constraint is that only 9% of land carries a commercial or industrial designation.
The intent of the R-1 residential district is to provide a stable and sound family residential environment with its appropriately related level of urban utilities, facilities and services.
Market overview
Demographics & Economy
Ironwood, MI has 7,340 residents in 4,728 households. Density runs 33 people per square mile. Median household income here is $44,379 and median gross rent $590 a month.
Tools
Frequently Asked Questions
What is the median price per square foot for commercial property in Ironwood?
What zoning applies to commercial property in Ironwood?
Where does Realmo's Ironwood market data come from?
Methodology & data sources
- Asking prices and medians
- There are 32 active for-sale and 0 active for-lease listings in Ironwood, MI. The sale median is based on 22 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 9 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
