Commercial Real Estate Market in Shippensburg, PA
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
31 active listings and 666 off-market properties in Shippensburg, PA. Commercial property asks $558/SF to buy and $200.00/SF/Yr to lease.
Market Trends
Shippensburg, PA spans 115.2 square miles in Cumberland County, Pennsylvania. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Shippensburg, 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 Shippensburg, 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 Shippensburg, 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 Shippensburg, 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 43%
- Commercial 17.5%
- Industrial 16%
- Civic 14.2%
- Open space 9.3%
Largest Zones share of zoned land by district
Residential Low Density
Institutional
Residential Medium Density
Heavy Manufacturing
Open Space
Shippensburg, PA zones 1,299 acres across 12 districts. Commercial zoning covers 17.5% of zoned land, residential 43%, open space 9.3% and industrial 16%. The largest single district is Residential Low Density at 20.4%. For commercial buyers the practical constraint is that only 33.5% of land carries a commercial or industrial designation.
Heavy Manufacturing (M-2)
Article V Neighborhood Commercial District § 150-21 Neighborhood Commercial (N-C) District. Article VI Manufacturing Districts § 150-22 Purpose. § 150-23 Light Manufacturing (M-1) District. § 150-24 Heavy Manufacturing (M-2) District. Article VII Institutional District § 150-25 Institutional (I-1) District. Article VIII Open Space District § 150-26 Purpose.…
Market overview
Demographics & Economy
Shippensburg, PA has 28,673 residents in 11,528 households. Density runs 249 people per square mile. Median household income here is $71,504 and median gross rent $1,058 a month.
28,673
Population
11,528
Households
2.5
Avg Household Size
34
Median Age
23%
College-Educated
88%
High-School Grad
115.2 sq mi
ZIP Area
249
Density / Sq Mi
$71,504
Median Household Income
$37,061
Median Earnings
$1,058
Median Rent
$219,200
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Lees Cross Roads | — | — |
| Orrstown | — | — |
| Manor | — | — |
| Walnut Bottom | — | — |
Commercial property in Shippensburg, PA asks $558/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Shippensburg?
Commercial property in Shippensburg, PA asks an average of $558 per square foot. The 4 most recent recorded sales traded at a median of $181/SF, so asking sits 208% above the achieved median.
How much does it cost to lease commercial space in Shippensburg?
Asking lease rates in Shippensburg, PA average $200.00 per square foot per year.
What zoning applies to commercial property in Shippensburg?
Shippensburg, PA zones 1,299 acres across 12 districts, of which 17.5% is commercial and 16% industrial. The largest single district is Residential Low Density at 20.4% of zoned land. Residential zoning covers 43% and open space 9.3%.
Where does Realmo's Shippensburg market data come from?
Realmo compiles Shippensburg, PA figures from 8 recent recorded sales, 26 active sale listings, 5 active lease listings, 666 tracked off-market properties, the current Shippensburg zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 26 active for-sale and 5 active for-lease listings in Shippensburg, 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: 1,299 zoned acres across 12 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, industrial vacancy is reported at Northeast region level and asking prices run materially above recent closed pricing.
- 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
