Commercial Real Estate Market in Fargo, ND
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
272 active listings and 1,372 off-market properties in Fargo, ND. Commercial property asks $17/SF to buy and $14.04/SF/Yr to lease.
Market Trends
Fargo, ND spans 71.4 square miles in Cass County, North Dakota. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Fargo, ND runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Vacancy Rate % in Midwest region
Retail
Retail vacancy in Fargo, ND runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Fargo, ND 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 Fargo, ND 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 32.7%
- Civic 25%
- Industrial 15.5%
- Commercial 12%
- Agricultural 5.7%
- Mixed use 1.2%
Largest Zones share of zoned land by district
Public And Institutional
Single Dwelling
Limited Industrial
Unknown
General Commercial
Public And Institutional (P/I)
The P/I, Public and Institutional district is intended to accommodate uses of a governmental, civic, public service or quasi-public nature, including major public facilities. It offers an alternative (versus residential) zoning classification for public and institutional uses, thereby increasing development predictability within residential neighborhoods.
Market overview
Demographics & Economy
Fargo, ND has 128,195 residents in 63,865 households. Density runs 1,796 people per square mile. Median household income here is $68,757 and median gross rent $929 a month.
128,195
Population
63,865
Households
2
Avg Household Size
33
Median Age
44%
College-Educated
96%
High-School Grad
71.4 sq mi
ZIP Area
1,796
Density / Sq Mi
$68,757
Median Household Income
$40,949
Median Earnings
$929
Median Rent
$279,277
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| North River | — | — |
| West Fargo | — | — |
| Harwood | — | — |
| Moorhead | — | — |
Commercial property in Fargo, ND asks $17/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Fargo?
Commercial property in Fargo, ND asks an average of $17 per square foot.
How much does it cost to lease commercial space in Fargo?
Asking lease rates in Fargo, ND average $14.04 per square foot per year.
Where does Realmo's Fargo market data come from?
Realmo compiles Fargo, ND figures from 7 recent recorded sales, 174 active sale listings, 98 active lease listings, 1,372 tracked off-market properties, the current Fargo zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 174 active for-sale and 98 active for-lease listings in Fargo, ND. 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: 26,979 zoned acres across 20 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
