Commercial Real Estate Market in Welcome, MN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
Market Trends
Welcome, MN spans 62.3 square miles in Martin County, Minnesota. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Welcome, 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 Welcome, MN runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Welcome, 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 Welcome, 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
- Industrial 50.1%
- Residential 33.1%
- Agricultural 13.1%
- Commercial 3%
- Civic 0.8%
Largest Zones share of zoned land by district
Industrial
Residential
Agricultural
Business
Central Business District
Welcome, MN zones 912 acres across 5 districts. Commercial zoning covers 3% of zoned land, residential 33.1% and industrial 50.1%. The largest single district is Industrial at 50.1%. For commercial buyers the practical constraint is that only 53% of land carries a commercial or industrial designation.
Industrial (I)
The I, Industrial District is intended to serve as the district for all industrial activities
Market overview
Demographics & Economy
Welcome, MN has 1,144 residents in 566 households. Density runs 18 people per square mile. Median household income here is $59,821 and median gross rent $705 a month.
1,144
Population
566
Households
2
Avg Household Size
45
Median Age
14%
College-Educated
92%
High-School Grad
62.3 sq mi
ZIP Area
18
Density / Sq Mi
$59,821
Median Household Income
$38,313
Median Earnings
$705
Median Rent
$99,700
Median Home Value
Tools
Nearby Markets
Frequently Asked Questions
What zoning applies to commercial property in Welcome?
Welcome, MN zones 912 acres across 5 districts, of which 3% is commercial and 50.1% industrial. The largest single district is Industrial at 50.1% of zoned land. The I, Industrial District is intended to serve as the district for all industrial activities Residential zoning covers 33.1% and open space 0%.
Where does Realmo's Welcome market data come from?
Realmo compiles Welcome, MN figures from 2 recent recorded sales, 72 tracked off-market properties, the current Welcome 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: 912 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
