Commercial Real Estate Market in Pipestone, MN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
5 active listings and 417 off-market properties in Pipestone, MN.
Market Trends
Pipestone, MN spans 240.5 square miles in Pipestone County, Minnesota. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Pipestone, 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 Pipestone, MN runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Pipestone, 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 Pipestone, 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 39.7%
- Industrial 21.2%
- Commercial 20.4%
- Open space 18.8%
Largest Zones share of zoned land by district
Single Family Residential
Conservation
Highway Business District
Central Industrial District
Urban Residential District
Pipestone, MN zones 2,652 acres across 9 districts. Commercial zoning covers 20.4% of zoned land, residential 39.7%, open space 18.8% and industrial 21.2%. The largest single district is Single Family Residential at 18.8%. For commercial buyers the practical constraint is that only 41.6% of land carries a commercial or industrial designation.
Single Family Residential (R-1)
The Single Family Residential District is designated for low density single family residences and provide certain private and public facilities and services that are compatible with the neighborhood.
Market overview
Demographics & Economy
Pipestone, MN has 5,678 residents in 2,634 households. Density runs 24 people per square mile. Median household income here is $71,550 and median gross rent $727 a month.
5,678
Population
2,634
Households
2.2
Avg Household Size
41
Median Age
23%
College-Educated
93%
High-School Grad
240.5 sq mi
ZIP Area
24
Density / Sq Mi
$71,550
Median Household Income
$40,420
Median Earnings
$727
Median Rent
$133,300
Median Home Value
Tools
Nearby Markets
Frequently Asked Questions
What zoning applies to commercial property in Pipestone?
Pipestone, MN zones 2,652 acres across 9 districts, of which 20.4% is commercial and 21.2% industrial. The largest single district is Single Family Residential at 18.8% of zoned land. The Single Family Residential District is designated for low density single family residences and provide certain private and public facilities and services that are compatible with the neighborhood. Residential zoning covers 39.7% and open space 18.8%.
Where does Realmo's Pipestone market data come from?
Realmo compiles Pipestone, MN figures from 3 recent recorded sales, 5 active sale listings, 417 tracked off-market properties, the current Pipestone zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 5 active for-sale and 0 active for-lease listings in Pipestone, 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: 2,652 zoned acres across 9 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
