Commercial Real Estate Market in Independence, MN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
6 active listings and 11 off-market properties in Independence, MN.
Market Trends
Independence, MN spans 62.2 square miles in Wright County, Minnesota. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Independence, 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 Independence, MN runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Independence, 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 Independence, 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 82.5%
- Residential 16.5%
- Industrial 0.7%
- Commercial 0.2%
Largest Zones share of zoned land by district
Agricultural
Agricultural Preserves
Rural Residential
Commercial Light Industrial
Lakeshore Estates
Rural Residential (RR)
TION 525. - ZONING: OFFICIAL ZONING MAP 525.01. - Land use districts. The city of Independence is hereby divided into land use districts identified by the following name and symbol: Agricultural (AG). Rural Residential (RR). Urban Residential (UR). Commercial-Light Industrial (CLI). Urban Commercial (UC). (Amended, Ord. No. 2012-01, § 1) 525.03. - District b…
Market overview
Demographics & Economy
Independence, MN has 9,745 residents in 3,933 households. Density runs 157 people per square mile. Median household income here is $135,646 and median gross rent $1,183 a month.
9,745
Population
3,933
Households
2.5
Avg Household Size
44
Median Age
55%
College-Educated
98%
High-School Grad
62.2 sq mi
ZIP Area
157
Density / Sq Mi
$135,646
Median Household Income
$65,168
Median Earnings
$1,183
Median Rent
$545,170
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Maple Plain | — | — |
| Delano | — | — |
| Loretto | — | — |
| Rockford | — | — |
Frequently Asked Questions
Where does Realmo's Independence market data come from?
Realmo compiles Independence, MN figures from 6 active sale listings, 11 tracked off-market properties, the current Independence zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 6 active for-sale and 0 active for-lease listings in Independence, 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: 20,293 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
