Commercial Real Estate Market in Richland, WA
Updated monthly: sale, lease, property records, location trend, and more… · Last update: September 30
442 active listings and 2,986 off-market properties in Richland, WA. Commercial property asks $461/SF to buy and $17.00/SF/Yr to lease.
Market Trends
Richland, WA spans 73.7 square miles in Benton County, Washington. Figures below refresh monthly; last updated 30 September 2026.
Office
Office space in Richland, WA asks $0/SF to buy. Vacancy runs 20.8% across the West region in 2025, up from 11% in 2019.
Average Sale Price $/SF
Listings
Vacancy Rate % in West region
Retail
Retail vacancy in Richland, WA runs 5.8% across the West region in 2025, down from 7% in 2020.
Vacancy Rate % in West region
Industrial
Industrial vacancy in Richland, 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 space in Richland, WA asks $143/SF to buy. Vacancy runs 8.6% across the West region in 2025, up from 7% in 2022.
Average Sale Price $/SF
Listings
Vacancy Rate % in West region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Industrial 29.8%
- Residential 28.7%
- Open space 16.5%
- Agricultural 9.3%
- Commercial 6.7%
- Planned_development 1.6%
- Mixed use 1%
- Civic 0.5%
- Special 0.3%
Largest Zones share of zoned land by district
Heavy Manufacturing District
Single Family Residential
Medium Industrial
Agricultural
Natural Open Space District
Richland, WA zones 23,658 acres across 26 districts. Commercial zoning covers 6.7% of zoned land, residential 28.7%, open space 16.5% and industrial 29.8%. The largest single district is Heavy Manufacturing District at 14.9%. For commercial buyers the practical constraint is that only 36.5% of land carries a commercial or industrial designation.
Heavy Manufacturing District (M-2)
The heavy manufacturing district is intended primarily for heavy manufacturing and closely related uses, To avoid burdensome regulations on heavy manufacturing, regulations for this district are intended to provide protection principally against effects harmful to other districts
Market overview
Demographics & Economy
Richland, WA has 78,535 residents in 32,921 households. Density runs 1,065 people per square mile. Median household income here is $99,629 and median gross rent $1,425 a month.
78,535
Population
32,921
Households
2.4
Avg Household Size
37
Median Age
44%
College-Educated
95%
High-School Grad
73.7 sq mi
ZIP Area
1,065
Density / Sq Mi
$99,629
Median Household Income
$59,290
Median Earnings
$1,425
Median Rent
$406,800
Median Home Value
Tools
Lease vs Buy Breakeven
At $17.00/SF/Yr lease vs $461/SF buy → buying wins if held > 24.5 years.
At a 3.7% gross asking yield the payback reads short relative to leasing. Assumes 30% down at 6.5% fixed, 2% a year in taxes and upkeep, 3% appreciation, 5% opportunity cost, 2% closing plus 5% selling costs, and a 3% annual rent escalator.
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| West Richland | — | $20.05 |
| Benton City | — | — |
| Kennewick | — | $15.11 |
| Pasco | — | $22.17 |
Commercial property in Richland, WA asks $461/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Richland?
Commercial property in Richland, WA asks an average of $461 per square foot. The 6 most recent recorded sales traded at a median of $214/SF, so asking sits 116% above the achieved median. Multifamily carries the highest asking price at $143/SF.
How much does it cost to lease commercial space in Richland?
Asking lease rates in Richland, WA average $17.00 per square foot per year.
Is it cheaper to lease or buy commercial space in Richland?
Buying beats leasing in Richland, WA if the property is held longer than 24.5 years, comparing $17.00/SF/Yr asking rent with $461/SF asking price. The model assumes 30% down at 6.5% fixed, 2% of value per year in taxes and upkeep, 3% appreciation, 5% opportunity cost on the cash and a 3% annual rent escalator.
What zoning applies to commercial property in Richland?
Richland, WA zones 23,658 acres across 26 districts, of which 6.7% is commercial and 29.8% industrial. The largest single district is Heavy Manufacturing District at 14.9% of zoned land. The heavy manufacturing district is intended primarily for heavy manufacturing and closely related uses, To avoid burdensome regulations on heavy manufacturing, regulations for this district are intended to provide protection principally against effects harmful to other districts Residential zoning covers 28.7% and open space 16.5%.
Where does Realmo's Richland market data come from?
Realmo compiles Richland, WA figures from 6 recent recorded sales, 385 active sale listings, 57 active lease listings, 2,986 tracked off-market properties, the current Richland zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 30 September 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 385 active for-sale and 57 active for-lease listings in Richland, 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: 23,658 zoned acres across 26 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, industrial vacancy is reported at West 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 · report a data issue
