Commercial Real Estate Market in Savage, MN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
32 active listings and 419 off-market properties in Savage, MN.
Market Trends
Savage, MN spans 14.3 square miles in Scott County, Minnesota. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Savage, 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 Savage, MN runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Savage, 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 Savage, 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 50.3%
- Open space 24.4%
- Industrial 11.2%
- Mixed use 6.1%
- Commercial 4.4%
- Civic 3.6%
Largest Zones share of zoned land by district
Planned Residential
Preservation Open Space
Low Density Residential
Ports Of Savage Industrial
Planned Mixed Use
Savage, MN zones 9,874 acres across 15 districts. Commercial zoning covers 4.4% of zoned land, residential 50.3%, open space 24.4% and industrial 11.2%. The largest single district is Planned Residential at 27.1%. For commercial buyers the practical constraint is that only 15.6% of land carries a commercial or industrial designation.
Planned Residential (PRD)
This district is intended to provide a greater variety of residential environments, respond to evolving housing demand and concepts, encourage privately maintained common open space, and allow for efficient allocation and maintenance of public facilities in new housing developments.
Market overview
Demographics & Economy
Savage, MN has 31,906 residents in 11,857 households. Density runs 2,228 people per square mile. Median household income here is $122,237 and median gross rent $1,608 a month.
31,906
Population
11,857
Households
2.7
Avg Household Size
37
Median Age
51%
College-Educated
97%
High-School Grad
14.3 sq mi
ZIP Area
2,228
Density / Sq Mi
$122,237
Median Household Income
$58,171
Median Earnings
$1,608
Median Rent
$393,800
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Burnsville | — | $14.41 |
| Bloomington | — | $16.88 |
| Prior Lake | — | — |
| Apple Valley | — | — |
Commercial property in Savage, MN asks $160/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Savage?
Commercial property in Savage, MN asks an average of $160 per square foot. The 6 most recent recorded sales traded at a median of $143/SF, so asking sits 11% above the achieved median.
What zoning applies to commercial property in Savage?
Savage, MN zones 9,874 acres across 15 districts, of which 4.4% is commercial and 11.2% industrial. The largest single district is Planned Residential at 27.1% of zoned land. This district is intended to provide a greater variety of residential environments, respond to evolving housing demand and concepts, encourage privately maintained common open space, and allow for efficient allocation and maintenance of public facilities in new housing developments. Residential zoning covers 50.3% and open space 24.4%.
Where does Realmo's Savage market data come from?
Realmo compiles Savage, MN figures from 6 recent recorded sales, 22 active sale listings, 10 active lease listings, 419 tracked off-market properties, the current Savage zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 22 active for-sale and 10 active for-lease listings in Savage, 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: 9,874 zoned acres across 15 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
