Commercial Real Estate Market in Ashby, MN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
2 active listings and 64 off-market properties in Ashby, MN.
Market Trends
Ashby, MN spans 57.2 square miles in Grant County, Minnesota. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Ashby, MN runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Vacancy Rate % in Midwest region
Retail
Retail vacancy in Ashby, MN runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Ashby, MN 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 Ashby, MN 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 83.7%
- Commercial 16.3%
Largest Zones share of zoned land by district
Agriculture
Single Family Residential
Community Business
Multiple Family Residential District
Ashby, MN zones 367 acres across 4 districts. Commercial zoning covers 16.3% of zoned land, residential 83.7%. The largest single district is Agriculture at 45.4%. For commercial buyers the practical constraint is that only 16.3% of land carries a commercial or industrial designation.
Agriculture (A)
The purpose of this District is to provide for agricultural use within the city limits with the possibility of future residential use.
Market overview
Demographics & Economy
Ashby, MN has 1,326 residents in 792 households. Density runs 23 people per square mile. Median household income here is $83,594 and median gross rent $839 a month.
1,326
Population
792
Households
1.7
Avg Household Size
45
Median Age
21%
College-Educated
95%
High-School Grad
57.2 sq mi
ZIP Area
23
Density / Sq Mi
$83,594
Median Household Income
$42,102
Median Earnings
$839
Median Rent
$270,400
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Erdahl | — | — |
| Dalton | — | — |
| Evansville | — | — |
| Elbow Lake | — | — |
Frequently Asked Questions
What zoning applies to commercial property in Ashby?
Ashby, MN zones 367 acres across 4 districts, of which 16.3% is commercial and 0% industrial. The largest single district is Agriculture at 45.4% of zoned land. The purpose of this District is to provide for agricultural use within the city limits with the possibility of future residential use. Residential zoning covers 83.7% and open space 0%.
Where does Realmo's Ashby market data come from?
Realmo compiles Ashby, MN figures from 2 active sale listings, 64 tracked off-market properties, the current Ashby zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 2 active for-sale and 0 active for-lease listings in Ashby, MN. 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: 367 zoned acres across 4 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
