Commercial Real Estate Market in Ontonagon, MI
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
23 active listings and 527 off-market properties in Ontonagon, MI.
Market Trends
Ontonagon, MI spans 464.9 square miles in Ontonagon County, Michigan. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Ontonagon, 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 Ontonagon, MI runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Ontonagon, 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 Ontonagon, 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 51.5%
- Commercial 33.9%
- Industrial 14.7%
Largest Zones share of zoned land by district
Residential
Waterfront And Multi Use
Industrial
Residential
Downtown Business
Ontonagon, MI zones 2,450 acres across 7 districts. Commercial zoning covers 33.9% of zoned land, residential 51.5% and industrial 14.7%. The largest single district is Residential at 37.8%. For commercial buyers the practical constraint is that only 48.5% of land carries a commercial or industrial designation.
Residential (R-1)
The R-1 Residential district (R-1) provides for single-family residential development and open space preservation development (also conservation subdivision and cluster development) in areas that transition to open and wooded areas in the neighboring Township. This district is meant to support a more rural setting preserving natural landscape features and op…
Market overview
Demographics & Economy
Ontonagon, MI has 2,541 residents in 1,909 households. Density runs 5 people per square mile. Median household income here is $55,647 and median gross rent $557 a month.
2,541
Population
1,909
Households
1.3
Avg Household Size
59
Median Age
19%
College-Educated
95%
High-School Grad
464.9 sq mi
ZIP Area
5
Density / Sq Mi
$55,647
Median Household Income
$35,035
Median Earnings
$557
Median Rent
$103,300
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Rockland | — | — |
| Greenland | — | — |
| Mass City | — | — |
Commercial property in Ontonagon, MI asks $291/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Ontonagon?
Commercial property in Ontonagon, MI asks an average of $291 per square foot.
What zoning applies to commercial property in Ontonagon?
Ontonagon, MI zones 2,450 acres across 7 districts, of which 33.9% is commercial and 14.7% industrial. The largest single district is Residential at 37.8% of zoned land. The R-1 Residential district (R-1) provides for single-family residential development and open space preservation development (also conservation subdivision and cluster development) in areas that transition to open and wooded areas in the neighboring Township. This district is meant to support a more rural setting preserving natural landscape features and op… Residential zoning covers 51.5% and open space 0%.
Where does Realmo's Ontonagon market data come from?
Realmo compiles Ontonagon, MI figures from 23 active sale listings, 527 tracked off-market properties, the current Ontonagon 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 Ontonagon, 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: 2,450 zoned acres across 7 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
