Commercial Real Estate Market in Belgrade, MN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
Market Trends
Belgrade, MN spans 171.3 square miles in Stearns County, Minnesota. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Belgrade, 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 Belgrade, MN runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Belgrade, 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 Belgrade, 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
- Agricultural 50.5%
- Residential 26.3%
- Commercial 6.6%
- Industrial 5.3%
Largest Zones share of zoned land by district
Agriculture Open
Residential One Unit
Public Semi Public
Highway Business
Limited Industry And Warehouse
Residential One Unit (R-1)
To provide suitable areas of low density residential development in the city
Market overview
Demographics & Economy
Belgrade, MN has 2,293 residents in 934 households. Density runs 13 people per square mile. Median household income here is $69,519 and median gross rent $725 a month.
2,293
Population
934
Households
2.5
Avg Household Size
41
Median Age
18%
College-Educated
94%
High-School Grad
171.3 sq mi
ZIP Area
13
Density / Sq Mi
$69,519
Median Household Income
$45,689
Median Earnings
$725
Median Rent
$242,400
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Brooten | — | — |
| Regal | — | — |
| Elrosa | — | — |
| Lake Henry | — | — |
Frequently Asked Questions
Where does Realmo's Belgrade market data come from?
Realmo compiles Belgrade, MN figures from 2 recent recorded sales, 154 tracked off-market properties, the current Belgrade zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- 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: 766 zoned acres across 8 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
