Commercial Real Estate Market in Irene, SD
Updated monthly: sale, lease, property records, location trend, and more… · Last update: September 30
3 active listings and 54 off-market properties in Irene, SD.
Market Trends
Irene, SD spans 104.1 square miles in Clay County, South Dakota. Figures below refresh monthly; last updated 30 September 2026.
Office
Office vacancy in Irene, 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 Irene, SD runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Irene, 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 Irene, 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 50.3%
- Agricultural 29.4%
- Commercial 10.3%
- Industrial 10%
Largest Zones share of zoned land by district
Residential District
Agricultural District
Heavy Industrial District
Central Business District
General Business District
Irene, SD zones 193 acres across 6 districts. Commercial zoning covers 10.3% of zoned land, residential 50.3% and industrial 10%. The largest single district is Residential District at 50.3%. For commercial buyers the practical constraint is that only 20.3% of land carries a commercial or industrial designation.
Residential District (R-1)
The purpose of this district is to provide for certain urban density residential areas the City has now developed primarily with single family, two family and multiple family dwellings and where similar development is likely to occur
Market overview
Demographics & Economy
Irene, SD has 885 residents in 383 households. Density runs 9 people per square mile. Median household income here is $67,857 and median gross rent $844 a month.
885
Population
383
Households
2.3
Avg Household Size
49
Median Age
20%
College-Educated
87%
High-School Grad
104.1 sq mi
ZIP Area
9
Density / Sq Mi
$67,857
Median Household Income
$42,955
Median Earnings
$844
Median Rent
$143,000
Median Home Value
Tools
Frequently Asked Questions
What is the average price per square foot for commercial property in Irene?
Commercial property in Irene, SD asks an average of $11,798 per square foot.
What zoning applies to commercial property in Irene?
Irene, SD zones 193 acres across 6 districts, of which 10.3% is commercial and 10% industrial. The largest single district is Residential District at 50.3% of zoned land. The purpose of this district is to provide for certain urban density residential areas the City has now developed primarily with single family, two family and multiple family dwellings and where similar development is likely to occur Residential zoning covers 50.3% and open space 0%.
Where does Realmo's Irene market data come from?
Realmo compiles Irene, SD figures from 3 active sale listings, 54 tracked off-market properties, the current Irene zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 30 September 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 3 active for-sale and 0 active for-lease listings in Irene, 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: 193 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 30 September 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 30 September 2026 · report a data issue
