Commercial Real Estate Market in Winona, MN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
25 active listings and 1,152 off-market properties in Winona, MN.
Market Trends
Winona, MN spans 157.2 square miles in Winona County, Minnesota. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Winona, 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 Winona, MN runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Winona, 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 Winona, 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
- Agricultural 39.3%
- Residential 24.6%
- Industrial 24.4%
- Civic 7%
- Commercial 2.4%
- Mixed use 1.3%
Largest Zones share of zoned land by district
Agricultural Natural Resources District
Heavy Industrial District
Low Density Residence District
Medium Density Residence District
Residential Suburban District
Agricultural Natural Resources District (AG/NR)
The purpose of the AG-NR Agricultural Natural Resources District is to protect and maintain the use of land for agricultural purposes, preserve and promote natural resource environments, discourage untimely and unplanned urban sprawl, and prevent the inefficient provision of municipal services, which can result from urban development.
Market overview
Demographics & Economy
Winona, MN has 34,010 residents in 15,312 households. Density runs 216 people per square mile. Median household income here is $62,171 and median gross rent $856 a month.
34,010
Population
15,312
Households
2.2
Avg Household Size
35
Median Age
35%
College-Educated
95%
High-School Grad
157.2 sq mi
ZIP Area
216
Density / Sq Mi
$62,171
Median Household Income
$30,978
Median Earnings
$856
Median Rent
$211,400
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Goodview | — | — |
| Homer | — | — |
| Minnesota City | — | — |
| Wilson | — | — |
Commercial property in Winona, MN asks $278/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Winona?
Commercial property in Winona, MN asks an average of $278 per square foot. The 3 most recent recorded sales traded at a median of $69/SF, so asking sits 304% above the achieved median.
Where does Realmo's Winona market data come from?
Realmo compiles Winona, MN figures from 7 recent recorded sales, 24 active sale listings, 1 active lease listings, 1,152 tracked off-market properties, the current Winona zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 24 active for-sale and 1 active for-lease listings in Winona, 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: 15,212 zoned acres across 16 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, industrial vacancy is reported at Midwest region level and asking prices run materially above recent closed pricing.
- 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
