Commercial Real Estate Market in Orono, MN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
11 active listings and 79 off-market properties in Orono, MN.
Market Trends
Orono, MN spans 55.8 square miles in Hennepin County, Minnesota. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Orono, 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 Orono, MN runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Orono, 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 Orono, 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
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 97.6%
- Planned_development 1.1%
- Commercial 0.8%
- Industrial 0.5%
Largest Zones share of zoned land by district
One Family Rural Residential 2 Acres
One Family Lakeshore Residential 2 Acres
One Family Rural Residential 5 Acres
One Family Lakeshore Residential 1 Acre
One Family Lakeshore Residential 0.5 Acre
Orono, MN zones 10,443 acres across 18 districts. Commercial zoning covers 0.8% of zoned land, residential 97.6% and industrial 0.5%. The largest single district is One Family Rural Residential 2 Acres at 51.2%. For commercial buyers the practical constraint is that only 1.3% of land carries a commercial or industrial designation.
One Family Rural Residential 2 Acres (RR-1B)
Division 6. - RR-1B One-Family Rural Residential District Sec. 6.12.1810. - Purpose. The RR-1B One-Family Rural Residential District is intended to provide a district which will allow a combination of low-density residential development and limited agricultural activity. (Code 1984, § 10.28(1); Code 2003, § 78-416)
Market overview
Demographics & Economy
Orono, MN has 12,165 residents in 4,961 households. Density runs 218 people per square mile. Median household income here is $149,415 and median gross rent $1,455 a month.
12,165
Population
4,961
Households
2.5
Avg Household Size
44
Median Age
61%
College-Educated
98%
High-School Grad
55.8 sq mi
ZIP Area
218
Density / Sq Mi
$149,415
Median Household Income
$77,453
Median Earnings
$1,455
Median Rent
$639,905
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Long Lake | — | — |
| Greenwood | — | — |
| Spring Park | — | — |
| Deephaven | — | — |
Frequently Asked Questions
What zoning applies to commercial property in Orono?
Orono, MN zones 10,443 acres across 18 districts, of which 0.8% is commercial and 0.5% industrial. The largest single district is One Family Rural Residential 2 Acres at 51.2% of zoned land. Division 6. - RR-1B One-Family Rural Residential District Sec. 6.12.1810. - Purpose. The RR-1B One-Family Rural Residential District is intended to provide a district which will allow a combination of low-density residential development and limited agricultural activity. (Code 1984, § 10.28(1); Code 2003, § 78-416) Residential zoning covers 97.6% and open space 0%.
Where does Realmo's Orono market data come from?
Realmo compiles Orono, MN figures from 3 recent recorded sales, 10 active sale listings, 1 active lease listings, 79 tracked off-market properties, the current Orono zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 10 active for-sale and 1 active for-lease listings in Orono, 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: 10,443 zoned acres across 18 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
