Commercial Real Estate Market in Ludington, MI
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
123 active listings and 1,153 off-market properties in Ludington, MI. Commercial property asks $87/SF to buy and $10.59/SF/Yr to lease.
Market Trends
Ludington, MI spans 96.1 square miles in Mason County, Michigan. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Ludington, 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 Ludington, MI asks $92/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 Ludington, 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 Ludington, 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 50.2%
- Mixed use 25.1%
- Open space 12.3%
- Commercial 3.3%
- Industrial 2.9%
- Civic 1.6%
Largest Zones share of zoned land by district
Neighborhood
Mixed Use
Parks
Waterfront
Industrial
Neighborhood (N)
N Neighborhood Purpose and Intent. The Neighborhood Zoning District is intended to maintain the traditionally residential areas of the City so that they continue to primarily support and encourage the presence of long-term, year-round residents. Moreover, the standards in the Neighborhood Zoning District are intended to provide flexibility in the use of prop…
Market overview
Demographics & Economy
Ludington, MI has 17,044 residents in 9,959 households. Density runs 177 people per square mile. Median household income here is $63,313 and median gross rent $850 a month.
17,044
Population
9,959
Households
1.7
Avg Household Size
48
Median Age
29%
College-Educated
94%
High-School Grad
96.1 sq mi
ZIP Area
177
Density / Sq Mi
$63,313
Median Household Income
$36,924
Median Earnings
$850
Median Rent
$218,600
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Scottville | — | — |
| Custer | — | — |
| Pentwater | — | — |
| Free Soil | — | — |
Commercial property in Ludington, MI asks $87/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Ludington?
Commercial property in Ludington, MI asks an average of $87 per square foot. Retail carries the highest asking price at $92/SF.
How much does it cost to lease commercial space in Ludington?
Asking lease rates in Ludington, MI average $10.59 per square foot per year.
Where does Realmo's Ludington market data come from?
Realmo compiles Ludington, MI figures from 3 recent recorded sales, 113 active sale listings, 10 active lease listings, 1,153 tracked off-market properties, the current Ludington zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 113 active for-sale and 10 active for-lease listings in Ludington, 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: 2,181 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 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
