Commercial Real Estate Market in Milesburg, PA
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
1 active listing and 25 off-market properties in Milesburg, PA.
Market Trends
Milesburg, PA spans 0.2 square miles in Centre County, Pennsylvania. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Milesburg, 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 Milesburg, 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 Milesburg, 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 Milesburg, 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 64.2%
- Commercial 18.2%
- Industrial 10.1%
- Open space 4.4%
- Civic 3.2%
Largest Zones share of zoned land by district
Residential Medium Density
Residential Low Density
Residential Commercial
Industrial General
Open Space
Milesburg, PA zones 289 acres across 7 districts. Commercial zoning covers 18.2% of zoned land, residential 64.2%, open space 4.4% and industrial 10.1%. The largest single district is Residential Medium Density at 36.7%. For commercial buyers the practical constraint is that only 28.3% of land carries a commercial or industrial designation.
Residential Medium Density (R-2)
The purpose of the R-2 Medium Density Residential District is to provide for the orderly development of existing and proposed medium density residential areas including some multi family dwellings and to exclude those uses not compatible with such development.
Market overview
Demographics & Economy
Milesburg, PA has 404 residents in 168 households. Density runs 1,956 people per square mile. Median household income here is $41,346 and median gross rent $1,019 a month.
404
Population
168
Households
2.4
Avg Household Size
42
Median Age
33%
College-Educated
91%
High-School Grad
0.2 sq mi
ZIP Area
1,956
Density / Sq Mi
$41,346
Median Household Income
$35,104
Median Earnings
$1,019
Median Rent
$131,700
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Bellefonte | — | $18.33 |
| Wingate | — | — |
| Fleming | — | — |
| Mingoville | — | — |
Frequently Asked Questions
What zoning applies to commercial property in Milesburg?
Milesburg, PA zones 289 acres across 7 districts, of which 18.2% is commercial and 10.1% industrial. The largest single district is Residential Medium Density at 36.7% of zoned land. The purpose of the R-2 Medium Density Residential District is to provide for the orderly development of existing and proposed medium density residential areas including some multi family dwellings and to exclude those uses not compatible with such development. Residential zoning covers 64.2% and open space 4.4%.
Where does Realmo's Milesburg market data come from?
Realmo compiles Milesburg, PA figures from 4 recent recorded sales, 1 active sale listings, 25 tracked off-market properties, the current Milesburg 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 Milesburg, 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: 289 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 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
