Commercial Real Estate Market in Truman, MN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
Market Trends
Truman, MN spans 125.0 square miles in Martin County, Minnesota. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Truman, 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 Truman, MN runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Truman, 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 Truman, 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 79.7%
- Industrial 13.7%
- Commercial 6.7%
Largest Zones share of zoned land by district
Residential
Industrial
Agricultural
General Business
Central Business
Truman, MN zones 697 acres across 5 districts. Commercial zoning covers 6.7% of zoned land, residential 79.7% and industrial 13.7%. The largest single district is Residential at 69.7%. For commercial buyers the practical constraint is that only 20.3% of land carries a commercial or industrial designation.
Market overview
Demographics & Economy
Truman, MN has 1,881 residents in 977 households. Density runs 15 people per square mile. Median household income here is $70,568 and median gross rent $938 a month.
1,881
Population
977
Households
1.9
Avg Household Size
46
Median Age
19%
College-Educated
95%
High-School Grad
125 sq mi
ZIP Area
15
Density / Sq Mi
$70,568
Median Household Income
$42,202
Median Earnings
$938
Median Rent
$134,200
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Lewisville | — | — |
| Northrop | — | — |
| Granada | — | — |
| Huntley | — | — |
Frequently Asked Questions
What zoning applies to commercial property in Truman?
Truman, MN zones 697 acres across 5 districts, of which 6.7% is commercial and 13.7% industrial. The largest single district is Residential at 69.7% of zoned land. Residential zoning covers 79.7% and open space 0%.
Where does Realmo's Truman market data come from?
Realmo compiles Truman, MN figures from 2 recent recorded sales, 90 tracked off-market properties, the current Truman zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- 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: 697 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
