Commercial Real Estate Market in Lancaster, VA
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
64 active listings and 176 off-market properties in Lancaster, VA.
Market Trends
Lancaster, VA spans 86.7 square miles in Lancaster County, Virginia. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Lancaster, VA runs 20.2% across the South region in 2025, up from 14.4% in 2019.
Vacancy Rate % in South region
Retail
Retail space in Lancaster, VA asks $84/SF to buy. Vacancy runs 5.4% across the South region in 2025, down from 7% in 2020.
Average Sale Price $/SF
Listings
Vacancy Rate % in South region
Industrial
Industrial vacancy in Lancaster, 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 Lancaster, VA runs 11.3% across the South region in 2025, up from 8.5% in 2022.
Vacancy Rate % in South region
Market overview
Demographics & Economy
Lancaster, VA has 3,997 residents in 2,811 households. Density runs 46 people per square mile. Median household income here is $70,993 and median gross rent $1,092 a month.
3,997
Population
2,811
Households
1.4
Avg Household Size
57
Median Age
32%
College-Educated
87%
High-School Grad
86.7 sq mi
ZIP Area
46
Density / Sq Mi
$70,993
Median Household Income
$43,672
Median Earnings
$1,092
Median Rent
$257,300
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Mollusk | — | — |
| Merry Point | — | — |
| Lively | — | — |
| Millenbeck | — | — |
Commercial property in Lancaster, VA asks $1,067/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Lancaster?
Commercial property in Lancaster, VA asks an average of $1,067 per square foot. The 3 most recent recorded sales traded at a median of $35/SF, so asking sits 2974% above the achieved median. Retail carries the highest asking price at $84/SF.
Where does Realmo's Lancaster market data come from?
Realmo compiles Lancaster, VA figures from 5 recent recorded sales, 64 active sale listings, 176 tracked off-market properties. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 64 active for-sale and 0 active for-lease listings in Lancaster, 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.
- 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, industrial vacancy is reported at South 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 31 August 2026 · report a data issue
