Commercial Real Estate Market in Monticello, MN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
27 active listings and 242 off-market properties in Monticello, MN.
Market Trends
Monticello, MN spans 65.3 square miles in Wright County, Minnesota. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Monticello, 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 Monticello, MN runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Monticello, 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 Monticello, 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 48.3%
- Industrial 17.4%
- Civic 11.2%
- Commercial 10.9%
- Planned_development 10.6%
Largest Zones share of zoned land by district
Single Family Residential District
Heavy Industrial District
Agricultural Open District
Single And Two Family Residential District
Residential Amenities District
Monticello, MN zones 5,608 acres across 44 districts. Commercial zoning covers 10.9% of zoned land, residential 48.3% and industrial 17.4%. The largest single district is Single Family Residential District at 32.2%. For commercial buyers the practical constraint is that only 28.3% of land carries a commercial or industrial designation.
Single Family Residential District (R-1)
The purpose of the R-1 Single Family Residential District is to provide for low density, single family, detached residential dwelling units and directly related complementary uses.
Market overview
Demographics & Economy
Monticello, MN has 20,476 residents in 7,589 households. Density runs 314 people per square mile. Median household income here is $92,870 and median gross rent $1,458 a month.
20,476
Population
7,589
Households
2.7
Avg Household Size
36
Median Age
26%
College-Educated
91%
High-School Grad
65.3 sq mi
ZIP Area
314
Density / Sq Mi
$92,870
Median Household Income
$48,029
Median Earnings
$1,458
Median Rent
$324,400
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Big Lake | — | — |
| Becker | — | — |
| Otsego | — | — |
| Albertville | — | — |
Commercial property in Monticello, MN asks $212/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Monticello?
Commercial property in Monticello, MN asks an average of $212 per square foot. The 7 most recent recorded sales traded at a median of $182/SF, so asking sits 17% above the achieved median.
What zoning applies to commercial property in Monticello?
Monticello, MN zones 5,608 acres across 44 districts, of which 10.9% is commercial and 17.4% industrial. The largest single district is Single Family Residential District at 32.2% of zoned land. The purpose of the R-1 Single Family Residential District is to provide for low density, single family, detached residential dwelling units and directly related complementary uses. Residential zoning covers 48.3% and open space 0%.
Where does Realmo's Monticello market data come from?
Realmo compiles Monticello, MN figures from 8 recent recorded sales, 21 active sale listings, 6 active lease listings, 242 tracked off-market properties, the current Monticello zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 21 active for-sale and 6 active for-lease listings in Monticello, 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: 5,608 zoned acres across 44 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
