Commercial Real Estate Market in Lexington, OH
Updated monthly: sale, lease, property records, location trend, and more… · Last update: September 30
207 active listings and 4,442 off-market properties in Lexington, OH. Commercial property asks $145/SF to buy and $21.29/SF/Yr to lease.
Market Trends
Lexington, OH spans 52.0 square miles in Richland County, Ohio. Figures below refresh monthly; last updated 30 September 2026.
Office
Office vacancy in Lexington, OH runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Vacancy Rate % in Midwest region
Retail
Retail vacancy in Lexington, OH runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Lexington, OH 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 Lexington, OH 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 76.7%
- Industrial 8.4%
- Civic 7.2%
- Commercial 1.9%
Largest Zones share of zoned land by district
One Family Residential
Conservation
One And Two Family Residential
Light Industrial
Transitional
Lexington, OH zones 2,609 acres across 10 districts. Commercial zoning covers 1.9% of zoned land, residential 76.7% and industrial 8.4%. The largest single district is One Family Residential at 42.8%. For commercial buyers the practical constraint is that only 10.4% of land carries a commercial or industrial designation.
One Family Residential (R-1)
The R-1 Residential Districts are established in recognition that sections of the Village include low density residential developments that are urban in character and are developed exclusively for one family dwellings
Market overview
Demographics & Economy
Lexington, OH has 14,368 residents in 5,956 households. Density runs 276 people per square mile. Median household income here is $61,458 and median gross rent $767 a month.
14,368
Population
5,956
Households
2.4
Avg Household Size
45
Median Age
28%
College-Educated
92%
High-School Grad
52 sq mi
ZIP Area
276
Density / Sq Mi
$61,458
Median Household Income
$38,879
Median Earnings
$767
Median Rent
$197,200
Median Home Value
Tools
Nearby Markets
Commercial property in Lexington, OH asks $145/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Lexington?
Commercial property in Lexington, OH asks an average of $145 per square foot. The 4 most recent recorded sales traded at a median of $20/SF, so asking sits 625% above the achieved median.
How much does it cost to lease commercial space in Lexington?
Asking lease rates in Lexington, OH average $21.29 per square foot per year.
What zoning applies to commercial property in Lexington?
Lexington, OH zones 2,609 acres across 10 districts, of which 1.9% is commercial and 8.4% industrial. The largest single district is One Family Residential at 42.8% of zoned land. The R-1 Residential Districts are established in recognition that sections of the Village include low density residential developments that are urban in character and are developed exclusively for one family dwellings Residential zoning covers 76.7% and open space 0%.
Where does Realmo's Lexington market data come from?
Realmo compiles Lexington, OH figures from 6 recent recorded sales, 166 active sale listings, 41 active lease listings, 4,442 tracked off-market properties, the current Lexington zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 30 September 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 166 active for-sale and 41 active for-lease listings in Lexington, OH. 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: 2,609 zoned acres across 10 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 30 September 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, industrial vacancy is reported at Midwest region level and asking prices run materially above recent closed pricing.
- 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 30 September 2026 · How Realmo checks market page data · Report a data issue
