Commercial Real Estate Market in Manhattan, MT
Updated monthly: sale, lease, property records, location trend, and more… · Last update: September 30
59 active listings and 194 off-market properties in Manhattan, MT. Commercial property asks $84/SF to buy and $14.80/SF/Yr to lease.
Market Trends
Manhattan, MT spans 164.9 square miles in Gallatin County, Montana. Figures below refresh monthly; last updated 30 September 2026.
Office
Office space in Manhattan, MT asks $407/SF to buy. Vacancy runs 20.8% across the West region in 2025, up from 11% in 2019.
Average Sale Price $/SF
Listings
Vacancy Rate % in West region
Retail
Retail space in Manhattan, MT asks $485/SF to buy. Vacancy runs 5.8% across the West region in 2025, down from 7% in 2020.
Average Sale Price $/SF
Listings
Vacancy Rate % in West region
Industrial
Industrial vacancy in Manhattan, MT runs 7.9% across the West region in 2025, up from 3.7% in 2019. Nearly 3.2x the 2022 low of 2.5%.
Vacancy Rate % in West region
Multifamily
Multifamily vacancy in Manhattan, MT runs 8.6% across the West region in 2025, up from 7% in 2022.
Vacancy Rate % in West region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 70.2%
- Industrial 15.4%
- Open space 6.6%
- Civic 2.5%
- Commercial 1.3%
Largest Zones share of zoned land by district
Low Density Residential District
Light Industrial District
Parks And Open Space District
Medium Density Residential District
No Zoning
Manhattan, MT zones 980 acres across 8 districts. Commercial zoning covers 1.3% of zoned land, residential 70.2%, open space 6.6% and industrial 15.4%. The largest single district is Low Density Residential District at 65.7%. For commercial buyers the practical constraint is that only 16.7% of land carries a commercial or industrial designation.
Low Density Residential District (R-1)
The low density residential district, R 1, is established for the purpose of low density dwelling control and to allow certain public facilities
Market overview
Demographics & Economy
Manhattan, MT has 5,397 residents in 2,330 households. Density runs 33 people per square mile. Median household income here is $86,382 and median gross rent $1,676 a month.
5,397
Population
2,330
Households
2.3
Avg Household Size
39
Median Age
36%
College-Educated
99%
High-School Grad
164.9 sq mi
ZIP Area
33
Density / Sq Mi
$86,382
Median Household Income
$48,460
Median Earnings
$1,676
Median Rent
$562,300
Median Home Value
Tools
Nearby Markets
Commercial property in Manhattan, MT asks $84/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Manhattan?
Commercial property in Manhattan, MT asks an average of $84 per square foot. Retail carries the highest asking price at $485/SF.
How much does it cost to lease commercial space in Manhattan?
Asking lease rates in Manhattan, MT average $14.80 per square foot per year.
What zoning applies to commercial property in Manhattan?
Manhattan, MT zones 980 acres across 8 districts, of which 1.3% is commercial and 15.4% industrial. The largest single district is Low Density Residential District at 65.7% of zoned land. The low density residential district, R 1, is established for the purpose of low density dwelling control and to allow certain public facilities Residential zoning covers 70.2% and open space 6.6%.
Where does Realmo's Manhattan market data come from?
Realmo compiles Manhattan, MT figures from 54 active sale listings, 5 active lease listings, 194 tracked off-market properties, the current Manhattan zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 30 September 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 54 active for-sale and 5 active for-lease listings in Manhattan, MT. 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: 980 zoned acres across 8 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 30 September 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at West region level, retail vacancy is reported at West region level and industrial vacancy is reported at West 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 30 September 2026 · report a data issue
