Commercial Real Estate Market in Horace, ND
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
97 active listings and 196 off-market properties in Horace, ND.
Market Trends
Horace, ND spans 70.2 square miles in Cass County, North Dakota. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Horace, 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 Horace, ND runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Horace, 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 Horace, 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 92.2%
- Commercial 3.5%
- Civic 2.2%
- Mixed use 1%
- Industrial 0.6%
- Planned_development 0.1%
Largest Zones share of zoned land by district
Agriculture
Suburban Residential 1
Compact Residential
Suburban Residential 2
Civic
Horace, ND zones 16,888 acres across 13 districts. Commercial zoning covers 3.5% of zoned land, residential 92.2% and industrial 0.6%. The largest single district is Agriculture at 84.5%. For commercial buyers the practical constraint is that only 4.1% of land carries a commercial or industrial designation.
Agriculture (AG)
The intent of the Agriculture district is to allow agricultural activities in areas without fully developed utilities as well as transition into allowing housing development as available utilities permit
Market overview
Demographics & Economy
Horace, ND has 4,216 residents in 1,815 households. Density runs 60 people per square mile. Median household income here is $142,216 and median gross rent $963 a month.
4,216
Population
1,815
Households
2.3
Avg Household Size
38
Median Age
43%
College-Educated
97%
High-School Grad
70.2 sq mi
ZIP Area
60
Density / Sq Mi
$142,216
Median Household Income
$68,783
Median Earnings
$963
Median Rent
$417,800
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Frontier | — | — |
| Wild Rice | — | — |
| Prairie Rose | — | — |
| Briarwood | — | — |
Commercial property in Horace, ND asks $503/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Horace?
Commercial property in Horace, ND asks an average of $503 per square foot.
What zoning applies to commercial property in Horace?
Horace, ND zones 16,888 acres across 13 districts, of which 3.5% is commercial and 0.6% industrial. The largest single district is Agriculture at 84.5% of zoned land. The intent of the Agriculture district is to allow agricultural activities in areas without fully developed utilities as well as transition into allowing housing development as available utilities permit Residential zoning covers 92.2% and open space 0%.
Where does Realmo's Horace market data come from?
Realmo compiles Horace, ND figures from 4 recent recorded sales, 94 active sale listings, 3 active lease listings, 196 tracked off-market properties, the current Horace zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 94 active for-sale and 3 active for-lease listings in Horace, 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: 16,888 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
