Commercial Real Estate Market in Bellingham, WA
Updated monthly: sale, lease, property records, location trend, and more… · Last update: September 30
269 active listings and 4,086 off-market properties in Bellingham, WA. Commercial property asks $378/SF to buy and $18.33/SF/Yr to lease.
Market Trends
Bellingham, WA spans 168.5 square miles in Whatcom County, Washington. Figures below refresh monthly; last updated 30 September 2026.
Office
Office vacancy in Bellingham, WA runs 20.8% across the West region in 2025, up from 11% in 2019.
Vacancy Rate % in West region
Retail
Retail vacancy in Bellingham, WA runs 5.8% across the West region in 2025, down from 7% in 2020.
Vacancy Rate % in West region
Industrial
Industrial vacancy in Bellingham, WA runs 7.9% across the West region in 2025, up from 3.7% in 2019. Nearly 3.2x the 2022 low of 2.5%.
Vacancy Rate % in West region
Multifamily
Multifamily vacancy in Bellingham, WA runs 8.6% across the West region in 2025, up from 7% in 2022.
Vacancy Rate % in West region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 58.5%
- Industrial 13.3%
- Open space 9.8%
- Commercial 5.7%
- Civic 5.5%
- Mixed use 5.2%
Largest Zones share of zoned land by district
Public Open Space Park Recreation Samish Neighborhood Plan
Residential Single Samish Neighborhood Plan
Residential Single South Neighborhood Plan
Residential Single Samish Neighborhood Plan
Residential Single Birchwood Neighborhood Plan
Bellingham, WA zones 18,132 acres across 393 districts. Commercial zoning covers 5.7% of zoned land, residential 58.5%, open space 9.8% and industrial 13.3%. The largest single district is Public Open Space Park Recreation Samish Neighborhood Plan at 4.2%. For commercial buyers the practical constraint is that only 19% of land carries a commercial or industrial designation.
Public Open Space Park Recreation Samish Neighborhood Plan (P/SM-NP-7)
This District is indented to Promote public related uses
Market overview
Demographics & Economy
Bellingham, WA has 129,753 residents in 59,203 households. Density runs 770 people per square mile. Median household income here is $75,772 and median gross rent $1,503 a month.
129,753
Population
59,203
Households
2.2
Avg Household Size
37
Median Age
46%
College-Educated
95%
High-School Grad
168.5 sq mi
ZIP Area
770
Density / Sq Mi
$75,772
Median Household Income
$40,760
Median Earnings
$1,503
Median Rent
$575,156
Median Home Value
Tools
Nearby Markets
Commercial property in Bellingham, WA asks $378/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Bellingham?
Commercial property in Bellingham, WA asks an average of $378 per square foot. The 7 most recent recorded sales traded at a median of $269/SF, so asking sits 41% above the achieved median.
How much does it cost to lease commercial space in Bellingham?
Asking lease rates in Bellingham, WA average $18.33 per square foot per year.
What zoning applies to commercial property in Bellingham?
Bellingham, WA zones 18,132 acres across 393 districts, of which 5.7% is commercial and 13.3% industrial. The largest single district is Public Open Space Park Recreation Samish Neighborhood Plan at 4.2% of zoned land. This District is indented to Promote public related uses Residential zoning covers 58.5% and open space 9.8%.
Where does Realmo's Bellingham market data come from?
Realmo compiles Bellingham, WA figures from 8 recent recorded sales, 179 active sale listings, 90 active lease listings, 4,086 tracked off-market properties, the current Bellingham zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 30 September 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 179 active for-sale and 90 active for-lease listings in Bellingham, WA. 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: 18,132 zoned acres across 393 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 West region level, retail vacancy is reported at West region level and industrial vacancy is reported at West 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 30 September 2026 · report a data issue
