Commercial Real Estate Market in Lakeland, MN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
1 active listing and 48 off-market properties in Lakeland, MN.
Market Trends
Lakeland, MN spans 3.8 square miles in Washington County, Minnesota. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Lakeland, 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 Lakeland, MN runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Lakeland, 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 Lakeland, 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 52.9%
- Residential 33.8%
Largest Zones share of zoned land by district
Residential
Residential
Saint Croix River District
Agricultural
Retail Business
Lakeland, MN zones 1,322 acres across 5 districts. Commercial zoning covers 52.9% of zoned land, residential 33.8%. The largest single district is Residential at 40.2%. For commercial buyers the practical constraint is that only 52.9% of land carries a commercial or industrial designation.
Residential (R-1)
Provide low density residential area in rapidly developing rural settings. R-1 Districts will provide lots large enough to maintain a semi-rural setting, but lots not large enough to support commercial agriculture. R-1 Districts will provide a buffer between agriculture districts and urban, or rapidly developing district
Market overview
Demographics & Economy
Lakeland, MN has 3,459 residents in 1,589 households. Density runs 919 people per square mile. Median household income here is $101,754 and median gross rent $1,617 a month.
3,459
Population
1,589
Households
2.2
Avg Household Size
48
Median Age
46%
College-Educated
98%
High-School Grad
3.8 sq mi
ZIP Area
919
Density / Sq Mi
$101,754
Median Household Income
$50,250
Median Earnings
$1,617
Median Rent
$360,600
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Lakeland Shores | — | — |
| Hudson | — | — |
| Lake Saint Croix Beach | — | — |
| North Hudson | — | — |
Frequently Asked Questions
What zoning applies to commercial property in Lakeland?
Lakeland, MN zones 1,322 acres across 5 districts, of which 52.9% is commercial and 0% industrial. The largest single district is Residential at 40.2% of zoned land. Provide low density residential area in rapidly developing rural settings. R-1 Districts will provide lots large enough to maintain a semi-rural setting, but lots not large enough to support commercial agriculture. R-1 Districts will provide a buffer between agriculture districts and urban, or rapidly developing district Residential zoning covers 33.8% and open space 0%.
Where does Realmo's Lakeland market data come from?
Realmo compiles Lakeland, MN figures from 2 recent recorded sales, 1 active sale listings, 48 tracked off-market properties, the current Lakeland zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 1 active for-sale and 0 active for-lease listings in Lakeland, 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: 1,322 zoned acres across 5 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
