Commercial Real Estate Market in Blacksburg, VA
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
60 active listings and 972 off-market properties in Blacksburg, VA.
Market Trends
Blacksburg, VA spans 131.9 square miles in Montgomery County, Virginia. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Blacksburg, VA runs 20.2% across the South region in 2025, up from 14.4% in 2019.
Vacancy Rate % in South region
Retail
Retail vacancy in Blacksburg, VA runs 5.4% across the South region in 2025, down from 7% in 2020.
Vacancy Rate % in South region
Industrial
Industrial vacancy in Blacksburg, VA runs 7.9% across the South region in 2025, up from 6% in 2019. Nearly 2.3x the 2022 low of 3.5%.
Vacancy Rate % in South region
Multifamily
Multifamily vacancy in Blacksburg, VA runs 11.3% across the South region in 2025, up from 8.5% in 2022.
Vacancy Rate % in South region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 65.5%
- Commercial 17.4%
- Civic 7%
- Open space 6.7%
- Industrial 2.7%
- Mixed use 0.1%
Largest Zones share of zoned land by district
Rural Residential 1
Low Density Residential
Planned Residential
University
Research And Development
Blacksburg, VA zones 12,673 acres across 17 districts. Commercial zoning covers 17.4% of zoned land, residential 65.5%, open space 6.7% and industrial 2.7%. The largest single district is Rural Residential 1 at 42.3%. For commercial buyers the practical constraint is that only 20.1% of land carries a commercial or industrial designation.
Rural Residential 1 (RR-1)
District is to provide for residential development at a scale intended to conserve the rural character of the district
Market overview
Demographics & Economy
Blacksburg, VA has 56,591 residents in 22,920 households. Density runs 429 people per square mile. Median household income here is $63,496 and median gross rent $1,266 a month.
56,591
Population
22,920
Households
2.5
Avg Household Size
26
Median Age
56%
College-Educated
98%
High-School Grad
131.9 sq mi
ZIP Area
429
Density / Sq Mi
$63,496
Median Household Income
$27,103
Median Earnings
$1,266
Median Rent
$412,300
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Newport | — | — |
| Prices Fork | — | — |
| Christiansburg | — | — |
| Ironto | — | — |
Frequently Asked Questions
What zoning applies to commercial property in Blacksburg?
Blacksburg, VA zones 12,673 acres across 17 districts, of which 17.4% is commercial and 2.7% industrial. The largest single district is Rural Residential 1 at 42.3% of zoned land. District is to provide for residential development at a scale intended to conserve the rural character of the district Residential zoning covers 65.5% and open space 6.7%.
Where does Realmo's Blacksburg market data come from?
Realmo compiles Blacksburg, VA figures from 53 active sale listings, 7 active lease listings, 972 tracked off-market properties, the current Blacksburg zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 53 active for-sale and 7 active for-lease listings in Blacksburg, VA. 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: 12,673 zoned acres across 17 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 South region level, retail vacancy is reported at South region level and industrial vacancy is reported at South 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
