Commercial Real Estate Market in Hibbing, MN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: October 31
18 active listings and 1,447 off-market properties in Hibbing, MN.
Market Trends
Hibbing, MN spans 347.0 square miles in St. Louis County, Minnesota. Figures below refresh monthly; last updated 31 October 2026.
Office
Office vacancy in Hibbing, MN runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Retail
Retail vacancy in Hibbing, MN runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Industrial
Industrial vacancy in Hibbing, 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%.
Multifamily
Multifamily space in Hibbing, MN has a median asking sale price of $109/SF (based on 7 listings). Vacancy runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Zoning & Land Use
Land Use Mix share of zoned land by category
- Agricultural 25.7%
- Residential 24.4%
- Open space 24.1%
- Industrial 21.8%
- Commercial 2.7%
- Planned_development 0.1%
Largest Zones share of zoned land by district
Hibbing, MN zones 119,317 acres across 28 districts. Commercial zoning covers 2.7% of zoned land, residential 24.4%, open space 24.1% and industrial 21.8%. The largest single district is General Industry District at 20.5%. For commercial buyers the practical constraint is that only 24.5% of land carries a commercial or industrial designation.
This district is established to insure the proper treatment of critical physical environmental features including but not limited to floodplains, swamps and wetlands, and certain unique vegetation.
Market overview
Demographics & Economy
Hibbing, MN has 17,071 residents in 8,999 households. Density runs 49 people per square mile. Median household income here is $55,694 and median gross rent $739 a month.
Tools
Frequently Asked Questions
What is the median price per square foot for commercial property in Hibbing?
What zoning applies to commercial property in Hibbing?
Where does Realmo's Hibbing market data come from?
Methodology & data sources
- Asking prices and medians
- There are 17 active for-sale and 1 active for-lease listings in Hibbing, MN. The sale median is based on 7 of the for-sale listings that state a price per square foot; too few for-lease listings state a rent per square foot for a rent median. These are ASKING figures from live listings, not closed-transaction prices, and a figure resting on fewer than 10 listings says so where it is quoted.
- 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: 119,317 zoned acres across 28 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 October 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, industrial vacancy is reported at Midwest region level and asking prices run materially above recent closed pricing.
- 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 October 2026 · How Realmo checks market page data · Report a data issue
