Commercial Real Estate Market in Milroy, MN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
Market Trends
Milroy, MN spans 51.1 square miles in Redwood County, Minnesota. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Milroy, 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 Milroy, MN runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Milroy, 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 Milroy, 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
- Residential 56.7%
- Industrial 17.2%
- Commercial 12.6%
Largest Zones share of zoned land by district
Single Family
Limited Industry
Unknown
Business
New Residential
Milroy, MN zones 160 acres across 5 districts. Commercial zoning covers 12.6% of zoned land, residential 56.7% and industrial 17.2%. The largest single district is Single Family at 48.9%. For commercial buyers the practical constraint is that only 29.8% of land carries a commercial or industrial designation.
Limited Industry (L1)
The purpose of the I Industrial District is to provide for industrial development outside of the other districts authorized, Development within the district shall be regulated through the performance standards, to promote sensitive site design and to mitigate external site impacts
Market overview
Demographics & Economy
Milroy, MN has 512 residents in 215 households. Density runs 10 people per square mile. Median household income here is $73,750 and median gross rent $550 a month.
512
Population
215
Households
2.4
Avg Household Size
38
Median Age
22%
College-Educated
98%
High-School Grad
51.1 sq mi
ZIP Area
10
Density / Sq Mi
$73,750
Median Household Income
$45,139
Median Earnings
$550
Median Rent
$162,000
Median Home Value
Tools
Nearby Markets
Frequently Asked Questions
What zoning applies to commercial property in Milroy?
Milroy, MN zones 160 acres across 5 districts, of which 12.6% is commercial and 17.2% industrial. The largest single district is Single Family at 48.9% of zoned land. Residential zoning covers 56.7% and open space 0%.
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.
- Zoning and land use
- The current municipal zoning release: 160 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
