Commercial Real Estate Market in Lead, SD
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
132 active listings and 248 off-market properties in Lead, SD. Commercial property asks $1,267/SF to buy and $20.68/SF/Yr to lease.
Market Trends
Lead, SD spans 264.9 square miles in Lawrence County, South Dakota. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Lead, 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 Lead, SD runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
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%.
Vacancy Rate % in Midwest region
Multifamily
Multifamily vacancy in Lead, 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 47.5%
- Industrial 36.7%
- Commercial 4.7%
- Open space 4.3%
Largest Zones share of zoned land by district
Residential District
Industrial District
Special Use
Commercial District
Open Space
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.
Residential District (R)
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.
3,579
Population
2,929
Households
1.2
Avg Household Size
48
Median Age
21%
College-Educated
96%
High-School Grad
264.9 sq mi
ZIP Area
14
Density / Sq Mi
$57,017
Median Household Income
$36,552
Median Earnings
$849
Median Rent
$220,100
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Terraville | — | — |
| Central City | — | — |
| Pluma | — | — |
| Deadwood | — | — |
Commercial property in Lead, SD asks $1,267/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Lead?
Commercial property in Lead, SD asks an average of $1,267 per square foot.
How much does it cost to lease commercial space in Lead?
Asking lease rates in Lead, SD average $20.68 per square foot per year.
What zoning applies to commercial property in Lead?
Lead, SD zones 1,481 acres across 6 districts, of which 4.7% is commercial and 36.7% industrial. The largest single district is Residential District at 47.5% of zoned land. The purpose of R district is to provide for residential neighborhoods of varying population density including parks for mobile homes Residential zoning covers 47.5% and open space 4.3%.
Where does Realmo's Lead market data come from?
Realmo compiles Lead, SD figures from 130 active sale listings, 2 active lease listings, 248 tracked off-market properties, the current Lead zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 130 active for-sale and 2 active for-lease listings in Lead, 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: 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 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
