Commercial Real Estate Market in Milan, OH
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
12 active listings and 254 off-market properties in Milan, OH.
Market Trends
Milan, OH spans 22.3 square miles in Erie County, Ohio. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Milan, 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 Milan, OH runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Milan, 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 Milan, 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 93.7%
- Commercial 3.3%
- Industrial 3%
Largest Zones share of zoned land by district
Residential
Residential
Industrial
Residential
Central Business District
Milan, OH zones 747 acres across 6 districts. Commercial zoning covers 3.3% of zoned land, residential 93.7% and industrial 3%. The largest single district is Residential at 74.9%. For commercial buyers the practical constraint is that only 6.3% of land carries a commercial or industrial designation.
Residential (R-1)
The R-1 Residential District is established to accommodate a population density of approximately three and one half dwelling units per acre. All public utilities and facilities shall be planned and designed to serve adequately the above population density
Market overview
Demographics & Economy
Milan, OH has 3,322 residents in 1,334 households. Density runs 149 people per square mile. Median household income here is $97,109 and median gross rent $963 a month.
3,322
Population
1,334
Households
2.5
Avg Household Size
44
Median Age
32%
College-Educated
96%
High-School Grad
22.3 sq mi
ZIP Area
149
Density / Sq Mi
$97,109
Median Household Income
$44,323
Median Earnings
$963
Median Rent
$235,200
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Norwalk | — | — |
| Berlinville | — | — |
| East Townsend | — | — |
| Monroeville | — | — |
Commercial property in Milan, OH asks $239/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Milan?
Commercial property in Milan, OH asks an average of $239 per square foot. The 4 most recent recorded sales traded at a median of $218/SF, so asking sits 10% above the achieved median.
What zoning applies to commercial property in Milan?
Milan, OH zones 747 acres across 6 districts, of which 3.3% is commercial and 3% industrial. The largest single district is Residential at 74.9% of zoned land. The R-1 Residential District is established to accommodate a population density of approximately three and one half dwelling units per acre. All public utilities and facilities shall be planned and designed to serve adequately the above population density Residential zoning covers 93.7% and open space 0%.
Where does Realmo's Milan market data come from?
Realmo compiles Milan, OH figures from 4 recent recorded sales, 12 active sale listings, 254 tracked off-market properties, the current Milan zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 12 active for-sale and 0 active for-lease listings in Milan, 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: 747 zoned acres across 6 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
