Commercial Real Estate Market in Bellefonte, PA
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
55 active listings and 520 off-market properties in Bellefonte, PA. Commercial property asks $351/SF to buy and $18.33/SF/Yr to lease.
Market Trends
Bellefonte, PA spans 124.3 square miles in Centre County, Pennsylvania. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Bellefonte, PA runs 19.9% across the Northeast region in 2025, up from 13.1% in 2019.
Vacancy Rate % in Northeast region
Retail
Retail vacancy in Bellefonte, PA runs 6% across the Northeast region in 2025, little changed from 6% in 2019. Down from a 2020 peak of 7.1%.
Vacancy Rate % in Northeast region
Industrial
Industrial vacancy in Bellefonte, PA runs 7.6% across the Northeast region in 2025, up from 5.4% in 2019. Nearly 2.4x the 2021 low of 3.2%.
Vacancy Rate % in Northeast region
Multifamily
Multifamily vacancy in Bellefonte, PA runs 5.6% across the Northeast region in 2025, up from 4% in 2022.
Vacancy Rate % in Northeast region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 79.2%
- Commercial 13.3%
- Mixed use 3.5%
- Industrial 2.6%
- Agricultural 1.5%
Largest Zones share of zoned land by district
Town Residential District
Suburban Residential District
Highway Commercial
Waterfront Business District
Multifamily Residential District
Bellefonte, PA zones 1,185 acres across 9 districts. Commercial zoning covers 13.3% of zoned land, residential 79.2% and industrial 2.6%. The largest single district is Town Residential District at 40.5%. For commercial buyers the practical constraint is that only 15.9% of land carries a commercial or industrial designation.
Highway Commercial (HC)
Highway Commercial District (HC) § 575-26 Intent. § 575-27 District regulations. § 575-28 Design standards. Article VIII Central Business District (CBD) § 575-29 Intent. § 575-30 Development standards. § 575-31 District regulations.
Market overview
Demographics & Economy
Bellefonte, PA has 29,345 residents in 11,679 households. Density runs 236 people per square mile. Median household income here is $75,717 and median gross rent $1,013 a month.
29,345
Population
11,679
Households
2.5
Avg Household Size
42
Median Age
29%
College-Educated
92%
High-School Grad
124.3 sq mi
ZIP Area
236
Density / Sq Mi
$75,717
Median Household Income
$41,842
Median Earnings
$1,013
Median Rent
$258,100
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Milesburg | — | — |
| Wingate | — | — |
| Fleming | — | — |
| Mingoville | — | — |
Commercial property in Bellefonte, PA asks $351/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Bellefonte?
Commercial property in Bellefonte, PA asks an average of $351 per square foot.
How much does it cost to lease commercial space in Bellefonte?
Asking lease rates in Bellefonte, PA average $18.33 per square foot per year.
What zoning applies to commercial property in Bellefonte?
Bellefonte, PA zones 1,185 acres across 9 districts, of which 13.3% is commercial and 2.6% industrial. The largest single district is Town Residential District at 40.5% of zoned land. Residential zoning covers 79.2% and open space 0%.
Where does Realmo's Bellefonte market data come from?
Realmo compiles Bellefonte, PA figures from 8 recent recorded sales, 41 active sale listings, 14 active lease listings, 520 tracked off-market properties, the current Bellefonte zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 41 active for-sale and 14 active for-lease listings in Bellefonte, PA. 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: 1,185 zoned acres across 9 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 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 August 2026 · report a data issue
