Commercial Real Estate Market in Elmira, NY
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
274 active listings and 1,673 off-market properties in Elmira, NY. Commercial property asks $35/SF to buy and $67.55/SF/Yr to lease.
Market Trends
Elmira, NY spans 65.0 square miles in Chemung County, New York. Figures below refresh monthly; last updated 31 August 2026.
Office
Office space in Elmira, NY asks $62/SF to buy. Vacancy runs 19.9% across the Northeast region in 2025, up from 13.1% in 2019.
Average Sale Price $/SF
Listings
Vacancy Rate % in Northeast region
Retail
Retail space in Elmira, NY asks $138/SF to buy. Vacancy runs 6% across the Northeast region in 2025, little changed from 6% in 2019. Down from a 2020 peak of 7.1%.
Average Sale Price $/SF
Listings
Vacancy Rate % in Northeast region
Industrial
Industrial vacancy in Elmira, NY runs 7.6% across the Northeast region in 2025, up from 5.4% in 2019. Nearly 2.4x the 2021 low of 3.2%.
Vacancy Rate % in Northeast region
Multifamily
Multifamily space in Elmira, NY asks $45/SF to buy. Vacancy runs 5.6% across the Northeast region in 2025, up from 4% in 2022.
Average Sale Price $/SF
Listings
Vacancy Rate % in Northeast region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 54.7%
- Industrial 15.2%
- Open space 13.5%
- Mixed use 5.9%
- Civic 3.5%
- Commercial 2.7%
Largest Zones share of zoned land by district
Residential One Family
Conservation
Residential One And Two Family
Light Industrial
Residential One Family Large Lot
Elmira, NY zones 4,780 acres across 21 districts. Commercial zoning covers 2.7% of zoned land, residential 54.7%, open space 13.5% and industrial 15.2%. The largest single district is Residential One Family at 34.3%. For commercial buyers the practical constraint is that only 17.9% of land carries a commercial or industrial designation.
Residential One Family (RA)
This district is intended to create, preserve and enhance areas of the City composed primarily of single family residences built at low or medium densities on quiet streets, but which were developed at a period of time in the past when lot sizes were somewhat smaller than those of more recently developed single family neighborhoods. These areas are still sta…
Market overview
Demographics & Economy
Elmira, NY has 45,919 residents in 22,015 households. Density runs 706 people per square mile. Median household income here is $57,743 and median gross rent $960 a month.
45,919
Population
22,015
Households
2.1
Avg Household Size
40
Median Age
23%
College-Educated
88%
High-School Grad
65 sq mi
ZIP Area
706
Density / Sq Mi
$57,743
Median Household Income
$35,605
Median Earnings
$960
Median Rent
$109,536
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Horseheads | — | $17.29 |
| Lowman | — | — |
| Pine City | — | — |
| Wellsburg | — | — |
Commercial property in Elmira, NY asks $35/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Elmira?
Commercial property in Elmira, NY asks an average of $35 per square foot. The 4 most recent recorded sales traded at a median of $50/SF. Retail carries the highest asking price at $138/SF.
How much does it cost to lease commercial space in Elmira?
Asking lease rates in Elmira, NY average $67.55 per square foot per year.
What zoning applies to commercial property in Elmira?
Elmira, NY zones 4,780 acres across 21 districts, of which 2.7% is commercial and 15.2% industrial. The largest single district is Residential One Family at 34.3% of zoned land. This district is intended to create, preserve and enhance areas of the City composed primarily of single family residences built at low or medium densities on quiet streets, but which were developed at a period of time in the past when lot sizes were somewhat smaller than those of more recently developed single family neighborhoods. These areas are still sta… Residential zoning covers 54.7% and open space 13.5%.
Where does Realmo's Elmira market data come from?
Realmo compiles Elmira, NY figures from 8 recent recorded sales, 233 active sale listings, 41 active lease listings, 1,673 tracked off-market properties, the current Elmira zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 233 active for-sale and 41 active for-lease listings in Elmira, NY. 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: 4,780 zoned acres across 21 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 Northeast region level, retail vacancy is reported at Northeast region level and industrial vacancy is reported at Northeast 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
