Commercial Real Estate Market in Morgan, MN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
1 active listing and 83 off-market properties in Morgan, MN.
Market Trends
Morgan, MN spans 99.5 square miles in Redwood County, Minnesota. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Morgan, 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 Morgan, MN runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Morgan, 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 Morgan, 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 66.6%
- Commercial 14.8%
- Agricultural 10.8%
- Industrial 7.8%
Largest Zones share of zoned land by district
One And Two Family Residence District
General Business District
Rural Service District
General Industry District
Multiple Residence Family
Morgan, MN zones 332 acres across 5 districts. Commercial zoning covers 14.8% of zoned land, residential 66.6% and industrial 7.8%. The largest single district is One And Two Family Residence District at 65.8%. For commercial buyers the practical constraint is that only 22.6% of land carries a commercial or industrial designation.
One And Two Family Residence District (R-1)
The purpose of the R-1 District is to provide residential areas for single-family detached dwellings and two-family dwellings.
Market overview
Demographics & Economy
Morgan, MN has 1,510 residents in 661 households. Density runs 15 people per square mile. Median household income here is $70,000 and median gross rent $1,036 a month.
1,510
Population
661
Households
2.3
Avg Household Size
42
Median Age
20%
College-Educated
93%
High-School Grad
99.5 sq mi
ZIP Area
15
Density / Sq Mi
$70,000
Median Household Income
$42,159
Median Earnings
$1,036
Median Rent
$135,000
Median Home Value
Tools
Nearby Markets
Frequently Asked Questions
What zoning applies to commercial property in Morgan?
Morgan, MN zones 332 acres across 5 districts, of which 14.8% is commercial and 7.8% industrial. The largest single district is One And Two Family Residence District at 65.8% of zoned land. The purpose of the R-1 District is to provide residential areas for single-family detached dwellings and two-family dwellings. Residential zoning covers 66.6% and open space 0%.
Where does Realmo's Morgan market data come from?
Realmo compiles Morgan, MN figures from 1 active sale listings, 83 tracked off-market properties, the current Morgan 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 Morgan, 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: 332 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
