Commercial Real Estate Market in Madison, WI
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
458 active listings and 5,601 off-market properties in Madison, WI. Commercial property asks $110/SF to buy and $15.85/SF/Yr to lease. Office vacancy runs 7.6%, the loosest of the segments tracked here.
Market Trends
Madison, WI spans 113.7 square miles in Dane County, Wisconsin. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Madison, WI runs 7.6% in 2025, down from 10.9% in 2023.
Vacancy Rate %
Retail
Retail vacancy in Madison, WI runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Madison, WI runs 2.1% in 2025, up from 1.5% in 2022.
Vacancy Rate %
Multifamily
Multifamily vacancy in Madison, WI 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 36.2%
- Civic 14.6%
- Industrial 11%
- Agricultural 11%
- Planned_development 9.8%
- Open space 8.6%
- Mixed use 6.2%
- Special 2.4%
- Commercial 0.3%
Largest Zones share of zoned land by district
Suburban Residential Consistent District 1
Conservancy District
Agricultural District
Planned Development District
Parks And Recreation
Conservancy District (CN)
The Conservancy District is established to recognize and protect the natural functions of certain natural and non intensive recreational areas including large City and County parks, and the University of Wisconsin Arboretum and stormwater management areas
Market overview
Demographics & Economy
Madison, WI has 308,529 residents in 147,589 households. Density runs 2,713 people per square mile. Median household income here is $75,882 and median gross rent $1,345 a month.
308,529
Population
147,589
Households
2.1
Avg Household Size
33
Median Age
59%
College-Educated
96%
High-School Grad
113.7 sq mi
ZIP Area
2,713
Density / Sq Mi
$75,882
Median Household Income
$44,945
Median Earnings
$1,345
Median Rent
$367,727
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Middleton | — | $13.69 |
| Shorewood Hills | — | — |
| Westport | — | — |
| Cross Plains | — | — |
Commercial property in Madison, WI asks $110/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Madison?
Commercial property in Madison, WI asks an average of $110 per square foot. The 6 most recent recorded sales traded at a median of $220/SF.
How much does it cost to lease commercial space in Madison?
Asking lease rates in Madison, WI average $15.85 per square foot per year.
What is the office vacancy rate in Madison?
Office vacancy in Madison, WI is 7.6% as of 2025, down from 10.9% in 2023.
Which property type has the lowest vacancy in Madison?
Industrial has the lowest vacancy in Madison, WI at 2.1%, inside a 1.5–2.9% band since 2022. For comparison: office 7.6%, retail 6.3% (Midwest) and multifamily 8% (Midwest).
Where does Realmo's Madison market data come from?
Realmo compiles Madison, WI figures from 6 recent recorded sales, 286 active sale listings, 172 active lease listings, 5,601 tracked off-market properties, the current Madison zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 286 active for-sale and 172 active for-lease listings in Madison, WI. 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: 53,635 zoned acres across 41 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
- retail vacancy is reported at Midwest region level and multifamily vacancy is reported at Midwest 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
