Commercial Real Estate Market in University Park, PA
Updated monthly: sale, lease, property records, location trend, and more… · Last update: September 30
103 active listings and 1,328 off-market properties in University Park, PA. Commercial property asks $123/SF to buy and $21.58/SF/Yr to lease.
Market Trends
University Park, PA spans 0.8 square miles in Centre County, Pennsylvania. Figures below refresh monthly; last updated 30 September 2026.
Office
Office vacancy in University Park, 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 University Park, 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 University Park, 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 University Park, PA runs 5.6% across the Northeast region in 2025, up from 4% in 2022.
Vacancy Rate % in Northeast region
Market overview
Demographics & Economy
University Park, PA has 12,977 residents in 66 households. Density runs 16,924 people per square mile.
12,977
Population
66
Households
196.6
Avg Household Size
24
Median Age
66%
College-Educated
100%
High-School Grad
0.8 sq mi
ZIP Area
16,924
Density / Sq Mi
$0
Median Household Income
$3,740
Median Earnings
$0
Median Rent
$0
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| State College | — | $21.58 |
| Bellefonte | — | $18.33 |
Commercial property in University Park, PA asks $123/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in University Park?
Commercial property in University Park, PA asks an average of $123 per square foot.
How much does it cost to lease commercial space in University Park?
Asking lease rates in University Park, PA average $21.58 per square foot per year.
Where does Realmo's University Park market data come from?
Realmo compiles University Park, PA figures from 8 recent recorded sales, 54 active sale listings, 49 active lease listings, 1,328 tracked off-market properties. Sale and lease figures refresh monthly; vacancy annually. Last updated 30 September 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 54 active for-sale and 49 active for-lease listings in University Park, 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.
- 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 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 30 September 2026 · report a data issue
