Commercial Real Estate Market in Fairfax, MN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
7 active listings and 108 off-market properties in Fairfax, MN.
Market Trends
Fairfax, MN spans 114.3 square miles in Renville County, Minnesota. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Fairfax, 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 Fairfax, MN runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Fairfax, 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 Fairfax, 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 36.2%
- Agricultural 34.5%
- Commercial 14.4%
- Industrial 11.8%
- Open space 3.2%
Largest Zones share of zoned land by district
Residential
Agricultural
Commercial
Industrial
Manufacturing
Residential (R-1)
Rules for structures in districts. For all principal structures permitted in the R-1, R-2 Districts, the following shall apply: (a) The minimum width of the main portion of all principal dwellings shall be not less than 24 feet, as measured across the narrowest portion. Width measurement shall not take into account overhang of other projections. (b) Shall ha…
Market overview
Demographics & Economy
Fairfax, MN has 1,838 residents in 773 households. Density runs 16 people per square mile. Median household income here is $58,177 and median gross rent $447 a month.
1,838
Population
773
Households
2.4
Avg Household Size
45
Median Age
12%
College-Educated
86%
High-School Grad
114.3 sq mi
ZIP Area
16
Density / Sq Mi
$58,177
Median Household Income
$34,943
Median Earnings
$447
Median Rent
$135,800
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Franklin | — | — |
| Gibbon | — | — |
| Morgan | — | — |
| Morton | — | — |
Commercial property in Fairfax, MN asks $47/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Fairfax?
Commercial property in Fairfax, MN asks an average of $47 per square foot.
Where does Realmo's Fairfax market data come from?
Realmo compiles Fairfax, MN figures from 2 recent recorded sales, 7 active sale listings, 108 tracked off-market properties, the current Fairfax zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 7 active for-sale and 0 active for-lease listings in Fairfax, 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: 836 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
