Commercial Real Estate Market in Spencer, OH
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
1 active listing and 59 off-market properties in Spencer, OH.
Market Trends
Spencer, OH spans 37.1 square miles in Medina County, Ohio. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Spencer, 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 Spencer, OH runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Spencer, 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 Spencer, 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 70.5%
- Industrial 21.4%
- Civic 6.2%
Largest Zones share of zoned land by district
Residential District
Residential District
Industrial District
Light Industrial District
General Business District
Spencer, OH zones 643 acres across 7 districts. The largest single district is Residential District at 47.7%. For commercial buyers the practical constraint is that only 21.4% of land carries a commercial or industrial designation.
Residential District (R-1)
The purpose of the R-1 District is to encourage the establishment of low density single and two family dwellings not to exceed four (4) dwelling units per gross acre.
Market overview
Demographics & Economy
Spencer, OH has 3,257 residents in 1,255 households. Density runs 88 people per square mile. Median household income here is $102,083 and median gross rent $1,121 a month.
3,257
Population
1,255
Households
2.6
Avg Household Size
46
Median Age
14%
College-Educated
91%
High-School Grad
37.1 sq mi
ZIP Area
88
Density / Sq Mi
$102,083
Median Household Income
$43,382
Median Earnings
$1,121
Median Rent
$250,000
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Homerville | — | — |
| Wellington | — | — |
| Litchfield | — | — |
| Sullivan | — | — |
Commercial property in Spencer, OH asks $60/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Spencer?
Commercial property in Spencer, OH asks an average of $60 per square foot.
What zoning applies to commercial property in Spencer?
Spencer, OH zones 643 acres across 7 districts, of which 0% is commercial and 21.4% industrial. The largest single district is Residential District at 47.7% of zoned land. The purpose of the R-1 District is to encourage the establishment of low density single and two family dwellings not to exceed four (4) dwelling units per gross acre. Residential zoning covers 70.5% and open space 0%.
Where does Realmo's Spencer market data come from?
Realmo compiles Spencer, OH figures from 4 recent recorded sales, 1 active sale listings, 59 tracked off-market properties, the current Spencer zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 1 active for-sale and 0 active for-lease listings in Spencer, 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: 643 zoned acres across 7 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
