Commercial Real Estate Market in Victoria, MN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
7 active listings and 75 off-market properties in Victoria, MN.
Market Trends
Victoria, MN spans 77.9 square miles in Carver County, Minnesota. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Victoria, 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 Victoria, MN runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Victoria, 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 Victoria, 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
- Open space 44.4%
- Residential 44.2%
- Agricultural 9.7%
- Mixed use 1.6%
- Industrial 0.2%
Largest Zones share of zoned land by district
Parks And Open Space
Residential District 1
Agricultural District
Lake Minnetonka Residential District
Central Business District
Victoria, MN zones 7,481 acres across 8 districts. The largest single district is Parks And Open Space at 44.4%. For commercial buyers the practical constraint is that only 0.2% of land carries a commercial or industrial designation.
Parks And Open Space (P-1)
The Parks and Open Space District is established to perpetuate openpark and recreation areas and other natural areas which are desirable for water retention or as natural habitat for plant and animal life
Market overview
Demographics & Economy
Victoria, MN has 53,677 residents in 20,834 households. Density runs 689 people per square mile. Median household income here is $125,019 and median gross rent $1,572 a month.
53,677
Population
20,834
Households
2.6
Avg Household Size
38
Median Age
51%
College-Educated
95%
High-School Grad
77.9 sq mi
ZIP Area
689
Density / Sq Mi
$125,019
Median Household Income
$67,618
Median Earnings
$1,572
Median Rent
$427,016
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Shorewood | — | — |
| Saint Bonifacius | — | — |
| Tonka Bay | — | — |
| Mound | — | — |
Frequently Asked Questions
What zoning applies to commercial property in Victoria?
Victoria, MN zones 7,481 acres across 8 districts, of which 0% is commercial and 0.2% industrial. The largest single district is Parks And Open Space at 44.4% of zoned land. The Parks and Open Space District is established to perpetuate openpark and recreation areas and other natural areas which are desirable for water retention or as natural habitat for plant and animal life Residential zoning covers 44.2% and open space 44.4%.
Where does Realmo's Victoria market data come from?
Realmo compiles Victoria, MN figures from 7 recent recorded sales, 5 active sale listings, 2 active lease listings, 75 tracked off-market properties, the current Victoria 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 2 active for-lease listings in Victoria, 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: 7,481 zoned acres across 8 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
