Commercial Real Estate Market in Laurium, MI
Updated monthly: sale, lease, property records, location trend, and more… · Last update: October 31
16 active listings and 806 off-market properties in Laurium, MI.
Market Trends
Laurium, MI spans 75.5 square miles in Houghton County, Michigan. Figures below refresh monthly; last updated 31 October 2026.
Office
Office vacancy in Laurium, MI runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Retail
Retail space in Laurium, MI has a median asking sale price of $122/SF (based on 7 listings). Vacancy runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Industrial
Industrial vacancy in Laurium, 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 Laurium, MI has a median asking sale price of $166/SF (based on 3 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 90.1%
- Mixed use 5.7%
- Commercial 2.5%
- Civic 1.6%
Largest Zones share of zoned land by district
Laurium, MI zones 331 acres across 4 districts. Commercial zoning covers 2.5% of zoned land, residential 90.1%. The largest single district is Residential at 90.1%. For commercial buyers the practical constraint is that only 2.5% of land carries a commercial or industrial designation.
This District comprises those areas of the Village intended for Single-Dwelling, Duplex, and Triplex residential neighborhoods. These neighborhoods are primarily populated by full-time and some seasonal residents. New construction respects the established pattern of Single-Dwelling neighborhoods and is consistent with existing residential uses.
Market overview
Demographics & Economy
Laurium, MI has 7,218 residents in 3,990 households. Density runs 96 people per square mile. Median household income here is $50,469 and median gross rent $678 a month.
Tools
Nearby Markets
Commercial property in Laurium, MI asks $124/SF. The 2 bordering markets run from $76/SF in Hancock to $124/SF in Calumet, and the city sits above their $100/SF median.
Frequently Asked Questions
What is the median price per square foot for commercial property in Laurium?
How does Laurium compare to nearby markets on price?
What zoning applies to commercial property in Laurium?
Where does Realmo's Laurium market data come from?
Methodology & data sources
- Asking prices and medians
- There are 16 active for-sale and 0 active for-lease listings in Laurium, MI. The sale median is based on 10 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: 331 zoned acres across 4 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
