Commercial Real Estate Market in Munising, MI
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
23 active listings and 293 off-market properties in Munising, MI.
Market Trends
Munising, MI spans 170.0 square miles in Alger County, Michigan. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Munising, 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 Munising, MI runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Munising, 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 Munising, 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 67.4%
- Open space 17.1%
- Commercial 12.4%
- Industrial 3.2%
Largest Zones share of zoned land by district
Highland One
Highland Two
Public Lands
Residential One
Lakefront Commercial
Munising, MI zones 3,373 acres across 14 districts. Commercial zoning covers 12.4% of zoned land, residential 67.4%, open space 17.1% and industrial 3.2%. The largest single district is Highland One at 29.4%. For commercial buyers the practical constraint is that only 15.5% of land carries a commercial or industrial designation.
Highland One (H-1)
SecƟon 213 Intent-Highland One (H1) and Highland Two (H2) a. Intent: 1. The H1 Highland One (H1) District is designed to establish and maintain residenƟal use in areas of rural character where development has not taken place and to preserve the scenic character of the ridge lines and hillsides that surround the City of Munising. Because tourism, recreaƟon, a…
Market overview
Demographics & Economy
Munising, MI has 4,602 residents in 2,462 households. Density runs 27 people per square mile. Median household income here is $59,575 and median gross rent $718 a month.
4,602
Population
2,462
Households
1.9
Avg Household Size
45
Median Age
20%
College-Educated
93%
High-School Grad
170 sq mi
ZIP Area
27
Density / Sq Mi
$59,575
Median Household Income
$36,643
Median Earnings
$718
Median Rent
$150,900
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Au Train | — | — |
| Shingleton | — | — |
| Limestone | — | — |
| Forest Lake | — | — |
Commercial property in Munising, MI asks $857/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Munising?
Commercial property in Munising, MI asks an average of $857 per square foot.
What zoning applies to commercial property in Munising?
Munising, MI zones 3,373 acres across 14 districts, of which 12.4% is commercial and 3.2% industrial. The largest single district is Highland One at 29.4% of zoned land. SecƟon 213 Intent-Highland One (H1) and Highland Two (H2) a. Intent: 1. The H1 Highland One (H1) District is designed to establish and maintain residenƟal use in areas of rural character where development has not taken place and to preserve the scenic character of the ridge lines and hillsides that surround the City of Munising. Because tourism, recreaƟon, a… Residential zoning covers 67.4% and open space 17.1%.
Where does Realmo's Munising market data come from?
Realmo compiles Munising, MI figures from 23 active sale listings, 293 tracked off-market properties, the current Munising zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 23 active for-sale and 0 active for-lease listings in Munising, 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: 3,373 zoned acres across 14 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
