Commercial Real Estate Market in Wayland, MI
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
37 active listings and 570 off-market properties in Wayland, MI. Commercial property asks $105/SF to buy and $20.53/SF/Yr to lease.
Market Trends
Wayland, MI spans 65.7 square miles in Allegan County, Michigan. Figures below refresh monthly; last updated 31 August 2026.
Office
Office space in Wayland, MI asks $97/SF to buy. Vacancy runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Average Sale Price $/SF
Listings
Vacancy Rate % in Midwest region
Retail
Retail space in Wayland, MI asks $85/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 Wayland, 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 Wayland, MI asks $87/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
- Residential 52.9%
- Industrial 25.1%
- Commercial 20.6%
- Civic 1.3%
Largest Zones share of zoned land by district
Residential Agricultural
Single Family Residential
Planned Industrial
Single And Two Family Residential
General Business District
Wayland, MI zones 1,893 acres across 16 districts. Commercial zoning covers 20.6% of zoned land, residential 52.9% and industrial 25.1%. The largest single district is Residential Agricultural at 21.7%. For commercial buyers the practical constraint is that only 45.7% of land carries a commercial or industrial designation.
Single Family Residential (R-1)
The R-1 zoning district is typically a single-family housing area. While most of the developed portion of the city is served with utilities, the low density status is designed to preserve those areas which have developed strictly as single-family detached units on separate lots.
Market overview
Demographics & Economy
Wayland, MI has 14,989 residents in 5,629 households. Density runs 228 people per square mile. Median household income here is $79,267 and median gross rent $1,123 a month.
14,989
Population
5,629
Households
2.7
Avg Household Size
36
Median Age
23%
College-Educated
94%
High-School Grad
65.7 sq mi
ZIP Area
228
Density / Sq Mi
$79,267
Median Household Income
$41,955
Median Earnings
$1,123
Median Rent
$247,200
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Bradley | — | — |
| Moline | — | — |
| Shelbyville | — | — |
| Dorr | — | $7.17 |
Commercial property in Wayland, MI asks $105/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Wayland?
Commercial property in Wayland, MI asks an average of $105 per square foot. Office carries the highest asking price at $97/SF.
How much does it cost to lease commercial space in Wayland?
Asking lease rates in Wayland, MI average $20.53 per square foot per year.
What zoning applies to commercial property in Wayland?
Wayland, MI zones 1,893 acres across 16 districts, of which 20.6% is commercial and 25.1% industrial. The largest single district is Residential Agricultural at 21.7% of zoned land. Residential zoning covers 52.9% and open space 0%.
Where does Realmo's Wayland market data come from?
Realmo compiles Wayland, MI figures from 2 recent recorded sales, 28 active sale listings, 9 active lease listings, 570 tracked off-market properties, the current Wayland zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 28 active for-sale and 9 active for-lease listings in Wayland, 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: 1,893 zoned acres across 16 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
