Commercial Real Estate Market in Ithaca, NY
Updated monthly: sale, lease, property records, location trend, and more… · Last update: October 31
140 active listings and 1,383 off-market properties in Ithaca, NY. Commercial property asks $176/SF to buy and $21.00/SF/Yr to lease.
Market Trends
Ithaca, NY spans 157.7 square miles in Tompkins County, New York. Figures below refresh monthly; last updated 31 October 2026.
Office
Office vacancy in Ithaca, NY runs 19.9% across the Northeast region in 2025, up from 13.1% in 2019.
Retail
Across Tompkins County, retail space asks $187/SF to buy. Retail vacancy in Ithaca, NY runs 6% across the Northeast region in 2025, little changed from 6% in 2019. Down from a 2020 peak of 7.1%.
Industrial
Industrial vacancy in Ithaca, 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%.
Multifamily
Across Tompkins County, multifamily space asks $158/SF to buy. Multifamily vacancy in Ithaca, NY runs 5.6% across the Northeast region in 2025, up from 4% in 2022.
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 46.2%
- Open space 19.4%
- Civic 12%
- Industrial 8.7%
- Commercial 7.1%
- Planned_development 0.5%
- Mixed use 0.4%
Largest Zones share of zoned land by district
Ithaca, NY zones 3,636 acres across 41 districts. Commercial zoning covers 7.1% of zoned land, residential 46.2%, open space 19.4% and industrial 8.7%. The largest single district is Park at 19.4%. For commercial buyers the practical constraint is that only 15.8% of land carries a commercial or industrial designation.
The purpose of this zoning district is to provide public recreation, public and semi public institution.
Market overview
Demographics & Economy
Ithaca, NY has 75,154 residents in 33,417 households. Density runs 477 people per square mile. Median household income here is $71,029 and median gross rent $1,441 a month.
Tools
Frequently Asked Questions
What is the median price per square foot for commercial property in Ithaca?
How much does it cost to lease commercial space in Ithaca?
What zoning applies to commercial property in Ithaca?
Where does Realmo's Ithaca market data come from?
Methodology & data sources
- Asking prices and medians
- There are 106 active for-sale and 34 active for-lease listings in Ithaca, NY. The medians are based on 75 of the for-sale and 19 of the for-lease listings, those that state a price or rent per square foot. These are ASKING figures from live listings, not closed-transaction prices, and a figure resting on fewer than 10 listings says so where it is quoted.
- 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: 3,636 zoned acres across 41 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 October 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 October 2026 · How Realmo checks market page data · Report a data issue
