Commercial Real Estate Market in Tupelo, MS
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
312 active listings and 1,960 off-market properties in Tupelo, MS. Commercial property asks $88/SF to buy and $9.89/SF/Yr to lease.
Market Trends
Tupelo, MS spans 151.5 square miles in Lee County, Mississippi. Figures below refresh monthly; last updated 31 August 2026.
Office
Office space in Tupelo, MS asks $113/SF to buy. Vacancy runs 20.2% across the South region in 2025, up from 14.4% in 2019.
Average Sale Price $/SF
Listings
Vacancy Rate % in South region
Retail
Retail space in Tupelo, MS asks $88/SF to buy. Vacancy runs 5.4% across the South region in 2025, down from 7% in 2020.
Average Sale Price $/SF
Listings
Vacancy Rate % in South region
Industrial
Industrial vacancy in Tupelo, MS runs 7.9% across the South region in 2025, up from 6% in 2019. Nearly 2.3x the 2022 low of 3.5%.
Vacancy Rate % in South region
Multifamily
Multifamily vacancy in Tupelo, MS runs 11.3% across the South region in 2025, up from 8.5% in 2022.
Vacancy Rate % in South region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 55.2%
- Mixed use 37.1%
- Industrial 5.6%
- Commercial 2.1%
Largest Zones share of zoned land by district
Agriculture And Open Space Protection
Low Density Residential
Medium Density Residential
Mixed Use Employment
Mixed Use Commercial Corridor
Agriculture And Open Space Protection (A/O)
The objective of the Agriculture/Open Space Protection District (AO) is to preserve environmentally sensitive land areas such as floodplains and agricultural areas which are not suitable for dense development and which are generally outside of areas served by public water and sanitary sewer systems. The types of uses, area and intensity of development permit…
Market overview
Demographics & Economy
Tupelo, MS has 47,109 residents in 21,695 households. Density runs 311 people per square mile. Median household income here is $63,590 and median gross rent $919 a month.
47,109
Population
21,695
Households
2.2
Avg Household Size
39
Median Age
29%
College-Educated
87%
High-School Grad
151.5 sq mi
ZIP Area
311
Density / Sq Mi
$63,590
Median Household Income
$36,265
Median Earnings
$919
Median Rent
$192,745
Median Home Value
Tools
Lease vs Buy Breakeven
At $9.89/SF/Yr lease vs $88/SF buy → buying wins if held > 1.1 years.
At a 11.2% gross asking yield the payback reads short relative to leasing. Assumes 30% down at 6.5% fixed, 2% a year in taxes and upkeep, 3% appreciation, 5% opportunity cost, 2% closing plus 5% selling costs, and a 3% annual rent escalator.
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Reid | — | — |
| Alpine | — | — |
| Mount Vernon | — | — |
| Plantersville | — | — |
Commercial property in Tupelo, MS asks $88/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Tupelo?
Commercial property in Tupelo, MS asks an average of $88 per square foot. Office carries the highest asking price at $113/SF.
How much does it cost to lease commercial space in Tupelo?
Asking lease rates in Tupelo, MS average $9.89 per square foot per year.
Is it cheaper to lease or buy commercial space in Tupelo?
Buying beats leasing in Tupelo, MS if the property is held longer than 1.1 years, comparing $9.89/SF/Yr asking rent with $88/SF asking price. The model assumes 30% down at 6.5% fixed, 2% of value per year in taxes and upkeep, 3% appreciation, 5% opportunity cost on the cash and a 3% annual rent escalator.
Where does Realmo's Tupelo market data come from?
Realmo compiles Tupelo, MS figures from 263 active sale listings, 49 active lease listings, 1,960 tracked off-market properties, the current Tupelo zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 263 active for-sale and 49 active for-lease listings in Tupelo, MS. 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: 41,532 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 South region level, retail vacancy is reported at South region level and industrial vacancy is reported at South 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
