Commercial Real Estate Market in Fairmont, MN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
19 active listings and 534 off-market properties in Fairmont, MN.
Market Trends
Fairmont, MN spans 156.4 square miles in Martin County, Minnesota. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Fairmont, 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 Fairmont, MN runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Fairmont, 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 Fairmont, 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
- Commercial 75.8%
- Industrial 22.5%
- Civic 1.3%
- Residential 0.4%
Largest Zones share of zoned land by district
Agricultural
Residential Single Family
Light Industrial
General Business
Multiple Family Residential
Fairmont, MN zones 8,711 acres across 11 districts. Commercial zoning covers 75.8% of zoned land, residential 0.4% and industrial 22.5%. The largest single district is Agricultural at 43.5%. For commercial buyers the practical constraint is that only 98.3% of land carries a commercial or industrial designation.
Agricultural (A)
This section applies to the A agricultural-transition district. (b) Permitted uses. Permitted uses are as follows: (1) Agriculture, including residential dwellings, crop farming, raising and training domestic animals for noncommercial purposes. All uses subject to state pollution control standards. Maximum numbers of livestock permitted: a. On five (5) acre…
Market overview
Demographics & Economy
Fairmont, MN has 12,278 residents in 5,847 households. Density runs 79 people per square mile. Median household income here is $61,486 and median gross rent $718 a month.
12,278
Population
5,847
Households
2.1
Avg Household Size
44
Median Age
26%
College-Educated
95%
High-School Grad
156.4 sq mi
ZIP Area
79
Density / Sq Mi
$61,486
Median Household Income
$43,241
Median Earnings
$718
Median Rent
$174,664
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Granada | — | — |
| Northrop | — | — |
| Ceylon | — | — |
| Welcome | — | — |
Commercial property in Fairmont, MN asks $36/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Fairmont?
Commercial property in Fairmont, MN asks an average of $36 per square foot. The 7 most recent recorded sales traded at a median of $96/SF.
What zoning applies to commercial property in Fairmont?
Fairmont, MN zones 8,711 acres across 11 districts, of which 75.8% is commercial and 22.5% industrial. The largest single district is Agricultural at 43.5% of zoned land. This section applies to the A agricultural-transition district. (b) Permitted uses. Permitted uses are as follows: (1) Agriculture, including residential dwellings, crop farming, raising and training domestic animals for noncommercial purposes. All uses subject to state pollution control standards. Maximum numbers of livestock permitted: a. On five (5) acre… Residential zoning covers 0.4% and open space 0%.
Where does Realmo's Fairmont market data come from?
Realmo compiles Fairmont, MN figures from 8 recent recorded sales, 16 active sale listings, 3 active lease listings, 534 tracked off-market properties, the current Fairmont zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 16 active for-sale and 3 active for-lease listings in Fairmont, 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: 8,711 zoned acres across 11 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
