Commercial Real Estate Market in South Lyon, MI
Updated monthly: sale, lease, property records, location trend, and more… · Last update: October 31
29 active listings and 350 off-market properties in South Lyon, MI. Commercial property asks $245/SF to buy (based on 6 listings) and $18.00/SF/Yr to lease.
Market Trends
South Lyon, MI spans 48.0 square miles in Oakland County, Michigan. Figures below refresh monthly; last updated 31 October 2026.
Office
Office vacancy in South Lyon, MI runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Retail
Retail vacancy in South Lyon, MI runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Industrial
Industrial vacancy in South Lyon, 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 South Lyon, MI runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Market overview
Demographics & Economy
South Lyon, MI has 36,858 residents in 14,402 households. Density runs 769 people per square mile. Median household income here is $130,781 and median gross rent $1,231 a month.
Tools
Nearby Markets
| Market | Median Asking Price, $/SF | Median Asking Rent, $/SF/Yr |
|---|---|---|
| New Hudson | $107 | $26.00 |
| Northville | $257 | $30.00 |
| Novi | $130 | $18.00 |
| Wixom | $245 | $9.95 |
Commercial property in South Lyon, MI asks $245/SF. The 4 bordering markets run from $107/SF in New Hudson to $257/SF in Northville, and the city sits above their $187/SF median.
Frequently Asked Questions
What is the median price per square foot for commercial property in South Lyon?
How much does it cost to lease commercial space in South Lyon?
How does South Lyon compare to nearby markets on price?
Where does Realmo's South Lyon market data come from?
Methodology & data sources
- Asking prices and medians
- There are 15 active for-sale and 14 active for-lease listings in South Lyon, MI. The medians are based on 6 of the for-sale and 11 of the for-lease listings, those that state a price or rent per square foot. 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.
- 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 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 October 2026 · How Realmo checks market page data · Report a data issue
