Commercial Real Estate Market in Medicine Lake, MN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
Market Trends
Medicine Lake, MN spans 8.6 square miles in Hennepin County, Minnesota. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Medicine Lake, 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 Medicine Lake, MN runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Medicine Lake, 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 space in Medicine Lake, MN asks $176/SF to buy. Vacancy runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Average Sale Price $/SF
Listings
Vacancy Rate % in Midwest region
Market overview
Demographics & Economy
Medicine Lake, MN has 18,415 residents in 8,340 households. Density runs 2,146 people per square mile. Median household income here is $100,288 and median gross rent $1,589 a month.
18,415
Population
8,340
Households
2.2
Avg Household Size
39
Median Age
56%
College-Educated
97%
High-School Grad
8.6 sq mi
ZIP Area
2,146
Density / Sq Mi
$100,288
Median Household Income
$56,522
Median Earnings
$1,589
Median Rent
$463,300
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Plymouth | — | — |
| New Hope | — | — |
| Minnetonka | — | $19.74 |
| Brooklyn Park | — | — |
Methodology & data sources
- 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.
- 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
