Commercial Real Estate Market in Salem, SD
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
19 active listings and 165 off-market properties in Salem, SD.
Market Trends
Salem, SD spans 159.1 square miles in McCook County, South Dakota. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Salem, 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 Salem, SD runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Salem, 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 Salem, 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 49.2%
- Commercial 30.7%
- Industrial 12.5%
- Agricultural 7.6%
Largest Zones share of zoned land by district
Residential
General Business
Natural Resource Conservation
Heavy Industrial
Light Industrial
Salem, SD zones 782 acres across 6 districts. Commercial zoning covers 30.7% of zoned land, residential 49.2% and industrial 12.5%. The largest single district is Residential at 49.2%. For commercial buyers the practical constraint is that only 43.2% of land carries a commercial or industrial designation.
Residential (R-1)
C. For R-1, R-2, or CB District - Fences not more than six (6) feet in height may be erected on any part of a lot other than in the required front yard. Fences not more than four (4) feet in height may be located on any part of the lot. D. For GB, LI, or HI District - Fences not more than eight (8) feet in height may be erected on any part of a lot other tha…
Market overview
Demographics & Economy
Salem, SD has 2,011 residents in 829 households. Density runs 13 people per square mile. Median household income here is $79,119 and median gross rent $866 a month.
2,011
Population
829
Households
2.4
Avg Household Size
42
Median Age
25%
College-Educated
92%
High-School Grad
159.1 sq mi
ZIP Area
13
Density / Sq Mi
$79,119
Median Household Income
$44,630
Median Earnings
$866
Median Rent
$199,700
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Ramsey | — | — |
| Canova | — | — |
| Spencer | — | — |
| Canistota | — | — |
Commercial property in Salem, SD asks $187/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Salem?
Commercial property in Salem, SD asks an average of $187 per square foot.
What zoning applies to commercial property in Salem?
Salem, SD zones 782 acres across 6 districts, of which 30.7% is commercial and 12.5% industrial. The largest single district is Residential at 49.2% of zoned land. C. For R-1, R-2, or CB District - Fences not more than six (6) feet in height may be erected on any part of a lot other than in the required front yard. Fences not more than four (4) feet in height may be located on any part of the lot. D. For GB, LI, or HI District - Fences not more than eight (8) feet in height may be erected on any part of a lot other tha… Residential zoning covers 49.2% and open space 0%.
Where does Realmo's Salem market data come from?
Realmo compiles Salem, SD figures from 19 active sale listings, 165 tracked off-market properties, the current Salem zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 19 active for-sale and 0 active for-lease listings in Salem, 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: 782 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
