Carver County, Minnesota: commercial real estate data.
Carver County, Minnesota has a population of 110,041 across 354 square miles, up 5.3 percent since the 2020 census base. County output reached $7.61 bn in 2024, 2,714 establishments operate here, and the SBA record carries 208 7(a) approvals worth $94.1 m.
123 sourced county values · tier FULL · 11 sections
Carver County
How many people live in Carver County
- Population110,041
- Households41,175
- Average household size2.67
- Median household income$125,946
- Median age39.0
- Median gross rent$1,514 per month
- Median owner-occupied home value$453,600
- Home value to household income3.6 times
- Annual rent as a share of median income14.4 percent
- Adults 25 and over with a bachelor degree or higher50.4 percent
- Adults 25 and over with a graduate degree16.9 percent
- Adults 25 and over73,557
- Population under 1827,759
- Share under 1825.2 percent
- Population 65 and over16,007
- Share 65 and over14.5 percent
- Working age population, 18 to 6466,275
- Civilian labor force62,717
- Unemployment rate3.1 percent
- Labor force participation, adults 18 and over76.2 percent
- Rank by population among Minnesota counties11th of 87
- Rank by population among US county-equivalents573rd
Carver County is the 11th largest of 87 Minnesota counties by population. A median home costs 3.6 times median household income, which is an affordable ownership market by national standards. Residents under 18 outnumber those 65 and over, at 25.2 percent against 14.5 percent, a household formation profile rather than a retirement one.
US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Carver County
Is Carver County growing
- Population change since the 2020 census base5.33 percent
- Census 2020 base population106,924
- Births, 20241,181
- Deaths, 2024692
- Natural change, 2024489
- Net domestic migration, 2024638
- Net international migration, 2024319
- Total net migration, 2024957
- Cumulative net domestic migration, 2021 to 20242,459
- Rank by growth among US county-equivalents488th
The county has grown 5.33 percent since the 2020 census base. Migration contributed more to 2024 change than births over deaths, so demand here follows people arriving rather than families forming.
US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
Carver County
Where people moving to Carver County come from
- Tax returns filed by households arriving3,669
- People arriving, from those returns6,710
- Adjusted gross income arriving$404.6 m
- Net adjusted gross income movement$0
- Average income of an arriving household$110,281
- Largest single originCarver County Non-migrants (40,853 households)
- Largest single destination (40,853 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Carver County Non-migrants | 40,853 | 93,616 | $6.10 bn |
| Hennepin County | 1,656 | 3,136 | $216.3 m |
| Other flows - Different State | 734 | 1,343 | $87.0 m |
| Scott County | 299 | 538 | $25.3 m |
| Other flows - Midwest | 298 | 542 | $32.5 m |
| Other flows - Same State | 265 | 451 | $20.6 m |
| Other flows - West | 212 | 406 | $30.5 m |
| Other flows - South | 179 | 315 | $19.1 m |
The largest single source of arrivals is Carver County Non-migrants, which is the catchment a retail or multifamily study should look at first.
US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Carver County
What the Carver County economy runs on
- County GDP, 2024$7.61 bn
- County GDP, 2023$7.20 bn
- GDP change, 2023 to 20245.7 percent
- GDP change over five years37.8 percent
- Rank by GDP among Minnesota counties10th
- Rank by GDP among US county-equivalents550th
- GDP per resident$69,189
Output grew 5.7 percent in the latest year and 37.8 percent over five, which is the trend line a lender will read behind any single year figure.
US Bureau of Economic Analysis, Regional, table CAGDP2, CAGDP2, through 2024.
Carver County
Who employs people in Carver County
- Covered employment, annual average40,848
- Establishments reporting2,874
- Average annual pay$67,445
- Average weekly wage$1,297
- Sector 31-33, employment8,474
- Sector 31-33, average annual pay$89,204
- Sector 62, employment6,691
- Sector 62, average annual pay$67,079
- Sector 44-45, employment4,296
- Sector 44-45, average annual pay$32,816
- Sector 72, employment3,388
- Sector 72, average annual pay$22,145
- Sector 23, employment2,586
- Sector 42, employment1,788
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Sector 31-33 | 8,474 | 157 | $89,204 |
| Sector 62 | 6,691 | 369 | $67,079 |
| Sector 44-45 | 4,296 | 237 | $32,816 |
| Sector 72 | 3,388 | 188 | $22,145 |
| Sector 23 | 2,586 | 344 | $86,878 |
| Sector 42 | 1,788 | 178 | $100,920 |
| Sector 71 | 1,330 | 62 | $37,245 |
| Sector 61 | 1,246 | 45 | $43,736 |
The largest sector is the biggest private employer group at 8,474 jobs, 20.7 percent of covered employment. Average pay per job sits below median household income, so households here typically need more than one earner.
US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
Carver County
What businesses operate in Carver County
- Establishments, all industries2,714
- Employment at those establishments39,280
- Annual payroll$2.47 bn
- Establishments per 1,000 residents24.7
These are counts of establishments physically operating in the county, not listings, so they are the supply side a feasibility study measures demand against.
US Census Bureau, County Business Patterns, 2023.
Carver County
What is being built in Carver County
- Housing units authorised by permit, 2024744
- Declared construction value permitted$312.0 m
- Single family units authorised662
- Multifamily units authorised82
- Multifamily share of units11.0 percent
- Average declared value per unit$419,308
- Units authorised per 1,000 households18.1
Multifamily is 11.0 percent of units authorised, so the pipeline is predominantly for sale product.
US Census Bureau, Building Permits Survey, 2024 annual.
Carver County
How much SBA lending happens in Carver County
- 7(a) approvals recorded208
- 7(a) gross approval dollars$94.1 m
- Average 7(a) approval$452,251
- Median 7(a) approval$200,000
- 10th percentile approval$25,000
- 90th percentile approval$924,300
- Largest single approval$5,000,000
- Jobs reported supported, 7(a)2,410
- Jobs per approval11.6
- Distinct 7(a) lenders active50
- Distinct industries receiving approvals103
- Median 7(a) term120 months
- Share of loans on real estate terms, 240 months or longer5.3 percent
- Loans on real estate terms11
- Loans on working capital terms, 120 months or shorter181
- Franchise loans29
- Franchise share of approvals13.9 percent
- Leading industry by approval countLimited-Service Restaurants (12)
- Most active lenderU.S. Bank, National Association (30)
- 504 approvals recorded86
- 504 gross approval dollars$77.2 m
- Average 504 approval$897,326
- Median 504 approval$667,000
- Distinct CDCs active5
- 504 jobs per approval14.7
- 504 jobs per million dollars approved16.4
- Most active CDCTwin Cities-Metro Certified Development Company (42)
- 7(a) share of SBA approvals70.7 percent
- Combined SBA approval dollars$171.2 m
The average approval of $452,251 sits well above the median of $200,000, so a small number of large deals is pulling the mean up. The median is the better guide to what a typical borrower here actually gets. Only 5.3 percent of approvals run on real estate terms, so SBA credit here is mostly working capital and equipment rather than property acquisition.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30. US Small Business Administration, 504 FOIA release, FY2010 to FY2026 year to date, as of 2026-06-30.
Carver County
Do SBA loans in Carver County get paid back
- Loans with a final outcome recorded43
- Paid in full41
- Charged off2
- Charge off rate on resolved loans4.7 percent
- Status: Exempt from disclosure127
- Status: Paid in full41
- Status: Cancelled26
- Status: Charged off2
- Status: Committed, not yet disbursed12
Of the 43 loans that have reached a final outcome, 4.7 percent were charged off. This is computed only over resolved loans, because a loan still running has not yet succeeded or failed and counting it either way would be wrong.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Carver County
Which parts of Carver County get the lending
- Places in the county with recorded lending14
- CHANHASSEN, approvals66
- CHASKA, approvals53
- WACONIA, approvals28
- VICTORIA, approvals14
- CARVER, approvals13
- NORWOOD YOUNG AMERICA, approvals7
| Place | Approvals | Gross approval dollars |
|---|---|---|
| CHANHASSEN | 66 | $34,663,500 |
| CHASKA | 53 | $17,403,200 |
| WACONIA | 28 | $13,072,100 |
| VICTORIA | 14 | $5,234,800 |
| CARVER | 13 | $8,238,800 |
| NORWOOD YOUNG AMERICA | 7 | $5,420,400 |
| WATERTOWN | 7 | $650,900 |
| MAYER | 5 | $409,800 |
CHANHASSEN accounts for 66 approvals against 53 in CHASKA. County level figures average over that gap, which is why a site decision is made at the submarket rather than the county.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Carver County
How big is Carver County
- Land area354 sq mi
- Rank by land area among Minnesota counties86th of 87
- Width, east to west24.1 mi
- Height, north to south23.4 mi
- Geographies sharing a boundary5
- Residents per square mile of land311
- Establishments per square mile7.67
US Census Bureau county boundary geometry, TIGER, adjacency computed from shared boundary vertices, TIGER county boundaries. US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year. US Census Bureau, County Business Patterns, 2023.
Coverage
What this page does not hold.
Every item below could be filled with a plausible figure. None of them is. On a page a lender may read, a number that cannot be traced is worse than an absence, so the absences are named.
- No NFIP communities are listed for this county in the FEMA Community Status Book.
- Flood zone record counts are not held. The flood coverage export has not landed, so no count is shown rather than an estimated one.
- Traffic counts resolve in the platform, not in this dataset, so no AADT figure is printed here.
- Zoning is in build. Parcel level zoning is not published on this page.
Feasibility studies
When a Carver County site needs a document a lender will accept.
The same data layer behind this page is the one the studies are written from. A study for a Carver County site starts with the figures you are reading, carrying the same source and period into the credit file.
- Population110,041
- Households41,175
- Average household size2.67
- Median household income$125,946
- Median age39.0
Common questions
Carver County questions, answered from the record.
How many people live in Carver County, Minnesota?
110,041, in 41,175 households, ranking 11th of 87 Minnesota counties. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Is Carver County growing?
The population has grown 5.33 percent since the 2020 census base. In 2024 there were 1,181 births against 692 deaths, with net migration of 957. Source: US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
What is the median household income in Carver County?
$125,946. The median owner-occupied home is valued at $453,600, which is 3.6 times income, and median gross rent is $1,514 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
How many businesses are there in Carver County?
2,714 establishments, employing 39,280 people with an annual payroll of $2.47 bn. These are establishments physically operating in the county, not listings. Source: US Census Bureau, County Business Patterns, 2023.
What is the average wage in Carver County?
Average annual pay is $67,445, or $1,297 a week, across 40,848 covered jobs. Source: US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
How much SBA lending happens in Carver County?
208 7(a) approvals totalling $94.1 m since FY2020, across 50 lenders, with a median approval of $200,000, plus 86 504 approvals worth $77.2 m. These are approvals recorded in the release, not loans disbursed.
Do SBA loans in Carver County get paid back?
Of the 43 loans that have reached a final outcome, 41 were paid in full and 2 charged off, a charge off rate of 4.7 percent. Loans still running are excluded, because they have not yet succeeded or failed.
What is being built in Carver County?
744 housing units were authorised by permit in 2024, with a declared construction value of $312.0 m. Multifamily was 11.0 percent of units. Source: US Census Bureau, Building Permits Survey, 2024 annual.
What is the radon zone for Carver County?
Zone 1, a predicted average indoor radon screening level greater than 4 pCi/L. Source: US EPA, Map of Radon Zones, county spreadsheet, 2024-05 publication, EPA 402/A-16/001.
Where do people moving to Carver County come from?
The largest single origin is Carver County Non-migrants, with 40,853 households. Arriving households report an average income of $110,281 against null for those leaving. Source: US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Are traffic counts available for Carver County on this page?
No. Annual average daily traffic resolves in the platform rather than in this dataset, so no AADT figure is printed here. It is a gap we know about rather than a figure we estimated.
Is zoning published for Carver County?
Not yet. The zoning layer is in build. Nothing on this page presents parcel level zoning, and where a statutory framework applies it is marked as the statewide frame with confirm locally attached.