Commercial Real Estate Market in Lancaster, PA
Updated monthly: sale, lease, property records, location trend, and more… · Last update: October 31
447 active listings and 4,021 off-market properties in Lancaster, PA. Commercial property asks $184/SF to buy and $14.72/SF/Yr to lease.
Market Trends
Lancaster, PA spans 88.1 square miles in Lancaster County, Pennsylvania. Figures below refresh monthly; last updated 31 October 2026.
Office
Office vacancy in Lancaster, PA runs 19.9% across the Northeast region in 2025, up from 13.1% in 2019.
Retail
Retail vacancy in Lancaster, PA runs 6% across the Northeast region in 2025, little changed from 6% in 2019. Down from a 2020 peak of 7.1%.
Industrial
Industrial vacancy in Lancaster, 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%.
Multifamily
Across Lancaster County, multifamily space asks $172/SF to buy. Multifamily vacancy in Lancaster, PA runs 5.6% across the Northeast region in 2025, up from 4% in 2022.
Zoning & Land Use
Land Use Mix share of zoned land by category
- Civic 46.6%
- Industrial 18.5%
- Open space 12.5%
- Mixed use 9.9%
- Residential 9%
- Commercial 3.6%
Largest Zones share of zoned land by district
R2 Districts may be waived. The applicant must also demonstrate to the Zoning Hearing Board's satisfaction that the granting of the special exception will not result in structural, safety or health hazards to abutting properties and must present evidence to the Board of full compliance with the following conditions: A. That a five-foot open distance will be…
Market overview
Demographics & Economy
Lancaster, PA has 176,297 residents in 70,961 households. Density runs 2,001 people per square mile. Median household income here is $81,663 and median gross rent $1,341 a month.
Tools
Lease vs Buy Breakeven
At $14.72/SF/Yr lease vs $184/SF buy → buying wins if held > 2.2 years.
At a 8% gross asking yield the payback reads short relative to leasing. Assumes 30% down at 6.5% fixed, 2% a year in taxes and upkeep, 3% appreciation, 5% opportunity cost, 2% closing plus 5% selling costs, and a 3% annual rent escalator.
Frequently Asked Questions
What is the median price per square foot for commercial property in Lancaster?
How much does it cost to lease commercial space in Lancaster?
Is it cheaper to lease or buy commercial space in Lancaster?
Where does Realmo's Lancaster market data come from?
Methodology & data sources
- Asking prices and medians
- There are 173 active for-sale and 274 active for-lease listings in Lancaster, PA. The medians are based on 84 of the for-sale and 27 of the for-lease listings, those that state a price or rent per square foot. These are ASKING figures from live listings, not closed-transaction prices, and a figure resting on fewer than 10 listings says so where it is quoted.
- 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: 4,707 zoned acres across 16 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 October 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 October 2026 · How Realmo checks market page data · Report a data issue
