Commercial Real Estate Market in Milwaukie, OR
Updated monthly: sale, lease, property records, location trend, and more… · Last update: September 30
70 active listings and 745 off-market properties in Milwaukie, OR. Commercial property asks $197/SF to buy and $23.25/SF/Yr to lease.
Market Trends
Milwaukie, OR spans 15.9 square miles in Clackamas County, Oregon. Figures below refresh monthly; last updated 30 September 2026.
Office
Office vacancy in Milwaukie, OR runs 20.8% across the West region in 2025, up from 11% in 2019.
Vacancy Rate % in West region
Retail
Retail vacancy in Milwaukie, OR runs 5.8% across the West region in 2025, down from 7% in 2020.
Vacancy Rate % in West region
Industrial
Industrial vacancy in Milwaukie, OR runs 7.9% across the West region in 2025, up from 3.7% in 2019. Nearly 3.2x the 2022 low of 2.5%.
Vacancy Rate % in West region
Multifamily
Multifamily vacancy in Milwaukie, OR runs 8.6% across the West region in 2025, up from 7% in 2022.
Vacancy Rate % in West region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 62.7%
- Industrial 16.5%
- Civic 11.9%
- Mixed use 6.3%
- Commercial 2.7%
Largest Zones share of zoned land by district
Moderate Density Residential Zones
High Density Residential Zone
North Milwaukie Employment
Business Industrial Zone
Manufacturing Zone
Milwaukie, OR zones 3,230 acres across 13 districts. Commercial zoning covers 2.7% of zoned land, residential 62.7% and industrial 16.5%. The largest single district is Moderate Density Residential Zones at 62.7%. For commercial buyers the practical constraint is that only 19.2% of land carries a commercial or industrial designation.
Moderate Density Residential Zones (R-MD)
The moderate density residential zone is Residential Zone R-MD. This zone implements the Moderate Density residential land use designation in the Milwaukie Comprehensive Plan. ( Ord. 2051 § 2, 2012 ; Ord. 2110 § 2 (Exh. G), 2015 ; Ord. 2120
Market overview
Demographics & Economy
Milwaukie, OR has 68,167 residents in 29,893 households. Density runs 4,293 people per square mile. Median household income here is $81,056 and median gross rent $1,599 a month.
68,167
Population
29,893
Households
2.3
Avg Household Size
43
Median Age
37%
College-Educated
94%
High-School Grad
15.9 sq mi
ZIP Area
4,293
Density / Sq Mi
$81,056
Median Household Income
$47,802
Median Earnings
$1,599
Median Rent
$476,314
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Clackamas | — | $15.96 |
| Gladstone | — | — |
| Portland | — | $23.23 |
Commercial property in Milwaukie, OR asks $197/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Milwaukie?
Commercial property in Milwaukie, OR asks an average of $197 per square foot.
How much does it cost to lease commercial space in Milwaukie?
Asking lease rates in Milwaukie, OR average $23.25 per square foot per year.
What zoning applies to commercial property in Milwaukie?
Milwaukie, OR zones 3,230 acres across 13 districts, of which 2.7% is commercial and 16.5% industrial. The largest single district is Moderate Density Residential Zones at 62.7% of zoned land. The moderate density residential zone is Residential Zone R-MD. This zone implements the Moderate Density residential land use designation in the Milwaukie Comprehensive Plan. ( Ord. 2051 § 2, 2012 ; Ord. 2110 § 2 (Exh. G), 2015 ; Ord. 2120 Residential zoning covers 62.7% and open space 0%.
Where does Realmo's Milwaukie market data come from?
Realmo compiles Milwaukie, OR figures from 6 recent recorded sales, 48 active sale listings, 22 active lease listings, 745 tracked off-market properties, the current Milwaukie zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 30 September 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 48 active for-sale and 22 active for-lease listings in Milwaukie, OR. 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: 3,230 zoned acres across 13 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 West region level, retail vacancy is reported at West region level and industrial vacancy is reported at West 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 30 September 2026 · report a data issue
