Commercial Real Estate Market in Carlton, MN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
2 active listings and 73 off-market properties in Carlton, MN.
Market Trends
Carlton, MN spans 60.4 square miles in Carlton County, Minnesota. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Carlton, 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 Carlton, MN runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Carlton, 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 Carlton, 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 68.9%
- Commercial 25.8%
- Industrial 5.3%
Largest Zones share of zoned land by district
Agricultural Residential
Low Density Residential
Multifamily Residential
Industrial District
Town Center Commercial
Carlton, MN zones 2,422 acres across 6 districts. Commercial zoning covers 25.8% of zoned land, residential 68.9% and industrial 5.3%. The largest single district is Agricultural Residential at 38.2%. For commercial buyers the practical constraint is that only 31.1% of land carries a commercial or industrial designation.
Town Center Commercial (C-1)
Subd.2 - Intent of the C-1 District The intent of this district is to maintain and enhance the existing character of the town center commercial area along Chestnut Avenue and to provide design standards that complement this intent. This district is the community focal point, its retail and service center, its cultural and social center. Permitted uses should…
Market overview
Demographics & Economy
Carlton, MN has 3,245 residents in 1,251 households. Density runs 54 people per square mile. Median household income here is $98,448 and median gross rent $878 a month.
3,245
Population
1,251
Households
2.6
Avg Household Size
47
Median Age
28%
College-Educated
96%
High-School Grad
60.4 sq mi
ZIP Area
54
Density / Sq Mi
$98,448
Median Household Income
$51,974
Median Earnings
$878
Median Rent
$288,400
Median Home Value
Tools
Nearby Markets
Frequently Asked Questions
What zoning applies to commercial property in Carlton?
Carlton, MN zones 2,422 acres across 6 districts, of which 25.8% is commercial and 5.3% industrial. The largest single district is Agricultural Residential at 38.2% of zoned land. Residential zoning covers 68.9% and open space 0%.
Where does Realmo's Carlton market data come from?
Realmo compiles Carlton, MN figures from 3 recent recorded sales, 2 active sale listings, 73 tracked off-market properties, the current Carlton 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 Carlton, 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: 2,422 zoned acres across 6 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
