Commercial Real Estate Market in Ithaca, MI
Updated monthly: sale, lease, property records, location trend, and more… · Last update: October 31
9 active listings and 366 off-market properties in Ithaca, MI.
Market Trends
Ithaca, MI spans 120.6 square miles in Gratiot County, Michigan. Figures below refresh monthly; last updated 31 October 2026.
Office
Office vacancy in Ithaca, MI runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Retail
Retail space in Ithaca, MI has a median asking sale price of $22/SF (based on 3 listings). Vacancy runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Industrial
Industrial vacancy in Ithaca, 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 Ithaca, 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
- Residential 65.8%
- Industrial 24.8%
- Commercial 7.7%
- Civic 1.7%
Largest Zones share of zoned land by district
Ithaca, MI zones 3,288 acres across 9 districts. Commercial zoning covers 7.7% of zoned land, residential 65.8% and industrial 24.8%. The largest single district is Rural Residential at 40.4%. For commercial buyers the practical constraint is that only 32.5% of land carries a commercial or industrial designation.
Market overview
Demographics & Economy
Ithaca, MI has 5,934 residents in 2,517 households. Density runs 49 people per square mile. Median household income here is $63,844 and median gross rent $819 a month.
Tools
Frequently Asked Questions
What is the median price per square foot for commercial property in Ithaca?
What zoning applies to commercial property in Ithaca?
Where does Realmo's Ithaca market data come from?
Methodology & data sources
- Asking prices and medians
- There are 7 active for-sale and 2 active for-lease listings in Ithaca, MI. The sale median is based on 5 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: 3,288 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
