Commercial Real Estate Market in Thief River Falls, MN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
15 active listings and 72 off-market properties in Thief River Falls, MN.
Market Trends
Thief River Falls, MN spans 383.0 square miles in Pennington County, Minnesota. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Thief River Falls, 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 Thief River Falls, MN runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Thief River Falls, 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 Thief River Falls, MN runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Vacancy Rate % in Midwest region
Market overview
Demographics & Economy
Thief River Falls, MN has 12,798 residents in 6,246 households. Density runs 33 people per square mile. Median household income here is $73,243 and median gross rent $897 a month.
12,798
Population
6,246
Households
2
Avg Household Size
40
Median Age
20%
College-Educated
95%
High-School Grad
383 sq mi
ZIP Area
33
Density / Sq Mi
$73,243
Median Household Income
$46,917
Median Earnings
$897
Median Rent
$189,700
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Rosewood | — | — |
| Saint Hilaire | — | — |
| Holt | — | — |
| Viking | — | — |
Commercial property in Thief River Falls, MN asks $133/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Thief River Falls?
Commercial property in Thief River Falls, MN asks an average of $133 per square foot.
Where does Realmo's Thief River Falls market data come from?
Realmo compiles Thief River Falls, MN figures from 6 recent recorded sales, 15 active sale listings, 72 tracked off-market properties. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 15 active for-sale and 0 active for-lease listings in Thief River Falls, 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.
- 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
