Commercial Real Estate Market in Freeman, SD
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
9 active listings and 155 off-market properties in Freeman, SD.
Market Trends
Freeman, SD spans 190.8 square miles in Hutchinson County, South Dakota. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Freeman, SD runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Vacancy Rate % in Midwest region
Retail
Retail vacancy in Freeman, SD runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Freeman, SD runs 4.9% across the Midwest region in 2025, up from 4.4% in 2019. Nearly 1.6x the 2022 low of 3.1%.
Vacancy Rate % in Midwest region
Multifamily
Multifamily vacancy in Freeman, SD runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Vacancy Rate % in Midwest region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 60.8%
- Commercial 20.4%
- Civic 10.2%
- Industrial 8.6%
Largest Zones share of zoned land by district
Single And Two Family Residential District
General Business District
Agricultural District
Industrial District
Multifamily District
Freeman, SD zones 874 acres across 6 districts. Commercial zoning covers 20.4% of zoned land, residential 60.8% and industrial 8.6%. The largest single district is Single And Two Family Residential District at 52.3%. For commercial buyers the practical constraint is that only 29% of land carries a commercial or industrial designation.
Single And Two Family Residential District (R-1)
Adopted 08/09/99 Amended 01-15-07 APPENDIX A - ZONING ORDINANCE ARTICLE 1 GENERAL PROVISIONS 2 ARTICLE 2 DEFINITIONS 4 ARTICLE 3 ZONING DISTRICTS 28 ARTICLE 4 SINGLE-TWO FAMILY DISTRICT (R-1) 30 ARTICLE 5 MULTIFAMILY DISTRICT (R-2) 34 ARTICLE 6 LOCAL BUSINESS DISTRICT (B-1) 38 ARTICLE 7 GENERAL COMMERCIAL DISTRICT (B-2) 42 ARTICLE 8 INDUSTRIAL DISTRICT (I-1)…
Market overview
Demographics & Economy
Freeman, SD has 2,142 residents in 947 households. Density runs 11 people per square mile. Median household income here is $77,321 and median gross rent $803 a month.
2,142
Population
947
Households
2.3
Avg Household Size
46
Median Age
22%
College-Educated
94%
High-School Grad
190.8 sq mi
ZIP Area
11
Density / Sq Mi
$77,321
Median Household Income
$46,303
Median Earnings
$803
Median Rent
$183,700
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Marion | — | — |
| Menno | — | — |
| Clayton | — | — |
| Bridgewater | — | — |
Commercial property in Freeman, SD asks $54,557/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Freeman?
Commercial property in Freeman, SD asks an average of $54,557 per square foot.
What zoning applies to commercial property in Freeman?
Freeman, SD zones 874 acres across 6 districts, of which 20.4% is commercial and 8.6% industrial. The largest single district is Single And Two Family Residential District at 52.3% of zoned land. Adopted 08/09/99 Amended 01-15-07 APPENDIX A - ZONING ORDINANCE ARTICLE 1 GENERAL PROVISIONS 2 ARTICLE 2 DEFINITIONS 4 ARTICLE 3 ZONING DISTRICTS 28 ARTICLE 4 SINGLE-TWO FAMILY DISTRICT (R-1) 30 ARTICLE 5 MULTIFAMILY DISTRICT (R-2) 34 ARTICLE 6 LOCAL BUSINESS DISTRICT (B-1) 38 ARTICLE 7 GENERAL COMMERCIAL DISTRICT (B-2) 42 ARTICLE 8 INDUSTRIAL DISTRICT (I-1)… Residential zoning covers 60.8% and open space 0%.
Where does Realmo's Freeman market data come from?
Realmo compiles Freeman, SD figures from 2 recent recorded sales, 9 active sale listings, 155 tracked off-market properties, the current Freeman zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 9 active for-sale and 0 active for-lease listings in Freeman, SD. 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: 874 zoned acres across 6 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 Midwest region level, retail vacancy is reported at Midwest region level and industrial vacancy is reported at Midwest 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
