Commercial Real Estate Market in Waterville, MN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
5 active listings and 126 off-market properties in Waterville, MN.
Market Trends
Waterville, MN spans 55.7 square miles in Le Sueur County, Minnesota. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Waterville, 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 Waterville, MN runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Waterville, 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 Waterville, 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 53.6%
- Special 41%
- Commercial 3.1%
- Industrial 2.3%
Largest Zones share of zoned land by district
Flood Fringe
Medium Density Residential
Agricultural And Holding
Single Family Residential
Limited Industry
Flood Fringe (FF)
SECTION 5.0 FLOOD FRINGE DISTRICT (FF) 5.1 Permitted Uses: Permitted Uses shall be those uses of land or structures listed as permitted uses in the underlying zoning use district(s). If no pre-existing, underlying zoning use districts exist, then any residential or non residential structure or use of a structure or land shall be a Permitted use in the Flood…
Market overview
Demographics & Economy
Waterville, MN has 2,909 residents in 1,566 households. Density runs 52 people per square mile. Median household income here is $79,879 and median gross rent $839 a month.
2,909
Population
1,566
Households
1.9
Avg Household Size
48
Median Age
20%
College-Educated
93%
High-School Grad
55.7 sq mi
ZIP Area
52
Density / Sq Mi
$79,879
Median Household Income
$41,201
Median Earnings
$839
Median Rent
$245,400
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Elysian | — | — |
| Morristown | — | — |
| Kilkenny | — | — |
| Warsaw | — | — |
Frequently Asked Questions
Where does Realmo's Waterville market data come from?
Realmo compiles Waterville, MN figures from 5 active sale listings, 126 tracked off-market properties, the current Waterville 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 Waterville, 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: 1,634 zoned acres across 10 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
