Commercial Real Estate Market in Lead, SD
Updated monthly: sale, lease, property records, location trend, and more… · Last update: October 31
30 active listings and 248 off-market properties in Lead, SD.
Market Trends
Lead, SD spans 264.9 square miles in Lawrence County, South Dakota. Figures below refresh monthly; last updated 31 October 2026.
Office
Office vacancy in Lead, SD runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Retail
Retail vacancy in Lead, SD runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Industrial
Industrial vacancy in Lead, 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%.
Multifamily
Multifamily space in Lead, SD has a median asking sale price of $106/SF (based on 3 listings). Vacancy runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 47.5%
- Industrial 36.7%
- Commercial 4.7%
- Open space 4.3%
Largest Zones share of zoned land by district
Lead, SD zones 1,481 acres across 6 districts. Commercial zoning covers 4.7% of zoned land, residential 47.5%, open space 4.3% and industrial 36.7%. The largest single district is Residential District at 47.5%. For commercial buyers the practical constraint is that only 41.4% of land carries a commercial or industrial designation.
The purpose of R district is to provide for residential neighborhoods of varying population density including parks for mobile homes
Market overview
Demographics & Economy
Lead, SD has 3,579 residents in 2,929 households. Density runs 14 people per square mile. Median household income here is $57,017 and median gross rent $849 a month.
Tools
Nearby Markets
Commercial property in Lead, SD asks $150/SF. The 2 bordering markets run from $174/SF in Spearfish to $291/SF in Deadwood, and the city sits below their $232/SF median.
Frequently Asked Questions
What is the median price per square foot for commercial property in Lead?
How does Lead compare to nearby markets on price?
What zoning applies to commercial property in Lead?
Where does Realmo's Lead market data come from?
Methodology & data sources
- Asking prices and medians
- There are 27 active for-sale and 3 active for-lease listings in Lead, SD. The sale median is based on 8 of the for-sale listings that state a price per square foot; too few for-lease listings state a rent per square foot for a rent median. These are ASKING figures from live listings, not closed-transaction prices, and a figure resting on fewer than 10 listings says so where it is quoted.
- 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: 1,481 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 October 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 October 2026 · How Realmo checks market page data · Report a data issue
