Commercial Real Estate Market in Hazen, ND
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
4 active listings and 270 off-market properties in Hazen, ND.
Market Trends
Hazen, ND spans 315.3 square miles in Mercer County, North Dakota. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Hazen, 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 Hazen, ND runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Hazen, 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 Hazen, 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 58.1%
- Industrial 17.9%
- Commercial 17.6%
- Open space 5.9%
- Planned_development 0.5%
Largest Zones share of zoned land by district
Residential Duplex
Residential Single Family
Residential Multifamily
Commercial
Agriculture
Hazen, ND zones 823 acres across 13 districts. Commercial zoning covers 17.6% of zoned land, residential 58.1%, open space 5.9% and industrial 17.9%. The largest single district is Residential Duplex at 29.2%. For commercial buyers the practical constraint is that only 35.5% of land carries a commercial or industrial designation.
Residential Duplex (R2)
It is the intent of these district regulations to provide for low density residential use
Market overview
Demographics & Economy
Hazen, ND has 3,362 residents in 1,887 households. Density runs 11 people per square mile. Median household income here is $73,229 and median gross rent $994 a month.
3,362
Population
1,887
Households
1.8
Avg Household Size
45
Median Age
26%
College-Educated
92%
High-School Grad
315.3 sq mi
ZIP Area
11
Density / Sq Mi
$73,229
Median Household Income
$49,618
Median Earnings
$994
Median Rent
$208,400
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Beulah | — | — |
| Stanton | — | — |
| Zap | — | — |
| Hannover | — | — |
Commercial property in Hazen, ND asks $56/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Hazen?
Commercial property in Hazen, ND asks an average of $56 per square foot.
What zoning applies to commercial property in Hazen?
Hazen, ND zones 823 acres across 13 districts, of which 17.6% is commercial and 17.9% industrial. The largest single district is Residential Duplex at 29.2% of zoned land. It is the intent of these district regulations to provide for low density residential use Residential zoning covers 58.1% and open space 5.9%.
Where does Realmo's Hazen market data come from?
Realmo compiles Hazen, ND figures from 5 recent recorded sales, 3 active sale listings, 1 active lease listings, 270 tracked off-market properties, the current Hazen zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 3 active for-sale and 1 active for-lease listings in Hazen, 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: 823 zoned acres across 13 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
