Commercial Real Estate Market in Milan, MO
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
5 active listings and 138 off-market properties in Milan, MO.
Market Trends
Milan, MO spans 241.6 square miles in Sullivan County, Missouri. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Milan, MO runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Vacancy Rate % in Midwest region
Retail
Retail vacancy in Milan, MO runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Milan, MO 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 Milan, MO 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 42.1%
- Civic 40.5%
- Commercial 14.7%
- Industrial 2.7%
Largest Zones share of zoned land by district
Open Areas
Single Family Residential District
Commercial District
Industrial District
Central Business District
Open Areas (O-P)
The purpose of this zoning district is to provide single family dwellings except in areas designated as below the 100 year flood plan, farms, truck gardens, orchards and nurseries, provided that no poultry or livestock shall be raised within 100 feet on any residence or residential district, transient amusement enterprise, such as carnival, circus, rides and…
Market overview
Demographics & Economy
Milan, MO has 3,452 residents in 1,601 households. Density runs 14 people per square mile. Median household income here is $55,791 and median gross rent $753 a month.
3,452
Population
1,601
Households
2.2
Avg Household Size
39
Median Age
14%
College-Educated
83%
High-School Grad
241.6 sq mi
ZIP Area
14
Density / Sq Mi
$55,791
Median Household Income
$36,438
Median Earnings
$753
Median Rent
$118,500
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Owasco | — | — |
| Sorrell | — | — |
| Reger | — | — |
| Boynton | — | — |
Commercial property in Milan, MO asks $4/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Milan?
Commercial property in Milan, MO asks an average of $4 per square foot.
Where does Realmo's Milan market data come from?
Realmo compiles Milan, MO figures from 5 active sale listings, 138 tracked off-market properties, the current Milan 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 Milan, MO. 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: 1,131 zoned acres across 7 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
