Commercial Real Estate Market in Norway, MI
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
15 active listings and 177 off-market properties in Norway, MI.
Market Trends
Norway, MI spans 57.8 square miles in Dickinson County, Michigan. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Norway, 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 Norway, MI asks $91/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 Norway, 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 space in Norway, MI asks $94/SF to buy. Vacancy runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Average Sale Price $/SF
Listings
Vacancy Rate % in Midwest region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Agricultural 49.7%
- Residential 36%
- Commercial 12.4%
- Industrial 1.3%
Largest Zones share of zoned land by district
Resource Production
Rural Residential
Public Land
Residential 2
Residential 1
Resource Production (RP)
The RP Resource Production District is established and maintained for low intensity use of those areas which, because of their location, physical characteristics and current use are suitable for agricultural, forestry and recreational uses.
Market overview
Demographics & Economy
Norway, MI has 3,343 residents in 1,649 households. Density runs 58 people per square mile. Median household income here is $55,795 and median gross rent $789 a month.
3,343
Population
1,649
Households
2
Avg Household Size
44
Median Age
22%
College-Educated
94%
High-School Grad
57.8 sq mi
ZIP Area
58
Density / Sq Mi
$55,795
Median Household Income
$40,478
Median Earnings
$789
Median Rent
$100,600
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Vulcan | — | — |
| Quinnesec | — | — |
| Niagara | — | — |
| Iron Mountain | — | $16.79 |
Commercial property in Norway, MI asks $171/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Norway?
Commercial property in Norway, MI asks an average of $171 per square foot. Multifamily carries the highest asking price at $94/SF.
Where does Realmo's Norway market data come from?
Realmo compiles Norway, MI figures from 15 active sale listings, 177 tracked off-market properties, the current Norway zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 15 active for-sale and 0 active for-lease listings in Norway, 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: 6,149 zoned acres across 12 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
