Commercial Real Estate Market in Richmond, MI
Updated monthly: sale, lease, property records, location trend, and more… · Last update: October 31
10 active listings and 283 off-market properties in Richmond, MI.
Market Trends
Richmond, MI spans 39.5 square miles in Macomb County, Michigan. Figures below refresh monthly; last updated 31 October 2026.
Office
Office vacancy in Richmond, MI runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Retail
Retail vacancy in Richmond, MI runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Industrial
Industrial vacancy in Richmond, 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 vacancy in Richmond, MI 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 76.8%
- Commercial 16.2%
- Industrial 4.9%
Largest Zones share of zoned land by district
Richmond, MI zones 1,092 acres across 12 districts. Commercial zoning covers 16.2% of zoned land, residential 76.8% and industrial 4.9%. The largest single district is Single Family Residential at 34.1%. For commercial buyers the practical constraint is that only 21% of land carries a commercial or industrial designation.
Market overview
Demographics & Economy
Richmond, MI has 9,375 residents in 3,631 households. Density runs 237 people per square mile. Median household income here is $75,763 and median gross rent $882 a month.
Tools
Frequently Asked Questions
What is the median price per square foot for commercial property in Richmond?
What zoning applies to commercial property in Richmond?
Where does Realmo's Richmond market data come from?
Methodology & data sources
- Asking prices and medians
- There are 6 active for-sale and 4 active for-lease listings in Richmond, MI. The sale median is based on 3 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: 1,092 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 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, industrial vacancy is reported at Midwest region level and asking prices run materially above recent closed pricing.
- 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
