Commercial Real Estate Market in Vermillion, SD
Updated monthly: sale, lease, property records, location trend, and more… · Last update: September 30
37 active listings and 525 off-market properties in Vermillion, SD.
Market Trends
Vermillion, SD spans 169.3 square miles in Clay County, South Dakota. Figures below refresh monthly; last updated 30 September 2026.
Office
Office vacancy in Vermillion, 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 Vermillion, SD runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Vermillion, 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 Vermillion, 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 50.7%
- Agricultural 16%
- Commercial 10.8%
- Industrial 10.6%
- Planned_development 3.1%
Largest Zones share of zoned land by district
Low Density Residential
Medium Density Residential
Natural Resource Conservation
State
General Business
Vermillion, SD zones 3,136 acres across 14 districts. Commercial zoning covers 10.8% of zoned land, residential 50.7% and industrial 10.6%. The largest single district is Low Density Residential at 25.6%. For commercial buyers the practical constraint is that only 21.3% of land carries a commercial or industrial designation.
Market overview
Demographics & Economy
Vermillion, SD has 13,005 residents in 5,307 households. Density runs 77 people per square mile. Median household income here is $54,720 and median gross rent $731 a month.
13,005
Population
5,307
Households
2.5
Avg Household Size
27
Median Age
50%
College-Educated
94%
High-School Grad
169.3 sq mi
ZIP Area
77
Density / Sq Mi
$54,720
Median Household Income
$20,652
Median Earnings
$731
Median Rent
$225,800
Median Home Value
Tools
Frequently Asked Questions
What is the average price per square foot for commercial property in Vermillion?
Commercial property in Vermillion, SD asks an average of $767 per square foot. The 3 most recent recorded sales traded at a median of $119/SF, so asking sits 543% above the achieved median.
What zoning applies to commercial property in Vermillion?
Vermillion, SD zones 3,136 acres across 14 districts, of which 10.8% is commercial and 10.6% industrial. The largest single district is Low Density Residential at 25.6% of zoned land. Residential zoning covers 50.7% and open space 0%.
Where does Realmo's Vermillion market data come from?
Realmo compiles Vermillion, SD figures from 7 recent recorded sales, 34 active sale listings, 3 active lease listings, 525 tracked off-market properties, the current Vermillion zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 30 September 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 34 active for-sale and 3 active for-lease listings in Vermillion, 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: 3,136 zoned acres across 14 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, industrial vacancy is reported at Midwest region level and asking prices run materially above recent closed pricing.
- 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 · How Realmo checks market page data · Report a data issue
