Clay County, Minnesota: commercial real estate data.
Clay County, Minnesota has a population of 66,059 across 1,045 square miles, up 2.3 percent since the 2020 census base. County output reached $2.92 bn in 2024, 1,306 establishments operate here, and the SBA record carries 88 7(a) approvals worth $38.2 m.
122 sourced county values · tier FULL · 11 sections
Clay County
How many people live in Clay County
- Population66,059
- Households26,442
- Average household size2.50
- Median household income$81,172
- Median age33.7
- Median gross rent$1,019 per month
- Median owner-occupied home value$265,500
- Home value to household income3.3 times
- Annual rent as a share of median income15.1 percent
- Adults 25 and over with a bachelor degree or higher39.3 percent
- Adults 25 and over with a graduate degree12.5 percent
- Adults 25 and over40,629
- Population under 1816,315
- Share under 1824.7 percent
- Population 65 and over9,248
- Share 65 and over14.0 percent
- Working age population, 18 to 6440,496
- Civilian labor force36,058
- Unemployment rate4.1 percent
- Labor force participation, adults 18 and over72.5 percent
- Rank by population among Minnesota counties16th of 87
- Rank by population among US county-equivalents829th
Clay County is the 16th largest of 87 Minnesota counties by population. A median home costs 3.3 times median household income, which is an affordable ownership market by national standards. Residents under 18 outnumber those 65 and over, at 24.7 percent against 14.0 percent, a household formation profile rather than a retirement one.
US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Clay County
Is Clay County growing
- Population change since the 2020 census base2.33 percent
- Census 2020 base population65,329
- Births, 2024375
- Deaths, 2024524
- Natural change, 2024-149
- Net domestic migration, 2024334
- Net international migration, 2024238
- Total net migration, 2024572
- Cumulative net domestic migration, 2021 to 2024446
- Rank by growth among US county-equivalents1062nd
The county has grown 2.33 percent since the 2020 census base. Deaths exceeded births in 2024, so all of the growth came from people moving in. A market held up by migration alone is more sensitive to a change in relative cost than one growing from household formation.
US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
Clay County
Where people moving to Clay County come from
- Tax returns filed by households arriving1,985
- People arriving, from those returns3,450
- Adjusted gross income arriving$98.4 m
- Net adjusted gross income movement$0
- Average income of an arriving household$49,583
- Largest single originClay County Non-migrants (22,730 households)
- Largest single destination (22,730 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Clay County Non-migrants | 22,730 | 48,858 | $1.80 bn |
| Cass County | 837 | 1,472 | $40.5 m |
| Other flows - Different State | 432 | 808 | $22.9 m |
| Other flows - Same State | 255 | 391 | $11.9 m |
| Other flows - Midwest | 201 | 381 | $9.1 m |
| Other flows - West | 116 | 215 | $7.6 m |
| Becker County | 98 | 162 | $5.4 m |
| Otter Tail County | 90 | 158 | $4.1 m |
The largest single source of arrivals is Clay 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.
Clay County
What the Clay County economy runs on
- County GDP, 2024$2.92 bn
- County GDP, 2023$2.82 bn
- GDP change, 2023 to 20243.4 percent
- GDP change over five years32.4 percent
- Rank by GDP among Minnesota counties21st
- Rank by GDP among US county-equivalents998th
- GDP per resident$44,189
Output grew 3.4 percent in the latest year and 32.4 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.
Clay County
Who employs people in Clay County
- Covered employment, annual average19,702
- Establishments reporting1,520
- Average annual pay$53,697
- Average weekly wage$1,033
- Sector 62, employment3,511
- Sector 62, average annual pay$46,489
- Sector 44-45, employment2,429
- Sector 44-45, average annual pay$36,045
- Sector 72, employment1,701
- Sector 72, average annual pay$20,269
- Sector 31-33, employment1,134
- Sector 31-33, average annual pay$69,915
- Sector 42, employment1,103
- Sector 23, employment1,077
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Sector 62 | 3,511 | 172 | $46,489 |
| Sector 44-45 | 2,429 | 154 | $36,045 |
| Sector 72 | 1,701 | 109 | $20,269 |
| Sector 31-33 | 1,134 | 52 | $69,915 |
| Sector 42 | 1,103 | 56 | $87,103 |
| Sector 23 | 1,077 | 198 | $69,219 |
| Sector 61 | 1,046 | 19 | $42,809 |
| Sector 81 | 682 | 175 | $42,365 |
The largest sector is the biggest private employer group at 3,511 jobs, 17.8 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.
Clay County
What businesses operate in Clay County
- Establishments, all industries1,306
- Employment at those establishments16,761
- Annual payroll$753.4 m
- Establishments per 1,000 residents19.8
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.
Clay County
What is being built in Clay County
- Housing units authorised by permit, 2024269
- Declared construction value permitted$55.5 m
- Single family units authorised104
- Multifamily units authorised165
- Multifamily share of units61.3 percent
- Average declared value per unit$206,270
- Units authorised per 1,000 households10.2
Multifamily is 61.3 percent of units authorised, so the pipeline is being built for renters rather than buyers.
US Census Bureau, Building Permits Survey, 2024 annual.
Clay County
How much SBA lending happens in Clay County
- 7(a) approvals recorded88
- 7(a) gross approval dollars$38.2 m
- Average 7(a) approval$434,397
- Median 7(a) approval$150,000
- 10th percentile approval$25,000
- 90th percentile approval$1,007,500
- Largest single approval$4,800,000
- Jobs reported supported, 7(a)921
- Jobs per approval10.5
- Distinct 7(a) lenders active25
- Distinct industries receiving approvals51
- Median 7(a) term120 months
- Share of loans on real estate terms, 240 months or longer10.2 percent
- Loans on real estate terms9
- Loans on working capital terms, 120 months or shorter78
- Franchise loans3
- Franchise share of approvals3.4 percent
- Leading industry by approval countOther Personal and Household Goods Repair and Maintenance (5)
- Most active lenderTown and Country CU (9)
- 504 approvals recorded74
- 504 gross approval dollars$47.3 m
- Average 504 approval$638,662
- Median 504 approval$405,000
- Distinct CDCs active4
- 504 jobs per approval8.0
- 504 jobs per million dollars approved12.6
- Most active CDCDakota Business Lending (36)
- 7(a) share of SBA approvals54.3 percent
- Combined SBA approval dollars$85.5 m
The average approval of $434,397 sits well above the median of $150,000, 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 10.2 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.
Clay County
Do SBA loans in Clay County get paid back
- Loans with a final outcome recorded37
- Paid in full37
- Charged off0
- Charge off rate on resolved loans0.0 percent
- Status: Paid in full37
- Status: Cancelled5
- Status: Exempt from disclosure45
- Status: Committed, not yet disbursed1
Of the 37 loans that have reached a final outcome, 0.0 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.
Clay County
Which parts of Clay County get the lending
- Places in the county with recorded lending10
- Moorhead, approvals66
- HAWLEY, approvals4
- GLYNDON, approvals4
- HITTERDAL, approvals4
- DILWORTH, approvals3
- ULEN, approvals2
| Place | Approvals | Gross approval dollars |
|---|---|---|
| Moorhead | 66 | $30,058,100 |
| HAWLEY | 4 | $4,728,400 |
| GLYNDON | 4 | $1,109,400 |
| HITTERDAL | 4 | $216,000 |
| DILWORTH | 3 | $868,300 |
| ULEN | 2 | $424,000 |
| Barnesville | 2 | $184,200 |
| SABIN | 1 | $15,000 |
Moorhead accounts for 66 approvals against 4 in HAWLEY. 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.
Clay County
How big is Clay County
- Land area1,045 sq mi
- Rank by land area among Minnesota counties19th of 87
- Width, east to west31 mi
- Height, north to south36 mi
- Geographies sharing a boundary4
- Residents per square mile of land63
- Establishments per square mile1.25
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 Clay 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 Clay County site starts with the figures you are reading, carrying the same source and period into the credit file.
- Population66,059
- Households26,442
- Average household size2.50
- Median household income$81,172
- Median age33.7
Common questions
Clay County questions, answered from the record.
How many people live in Clay County, Minnesota?
66,059, in 26,442 households, ranking 16th of 87 Minnesota counties. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Is Clay County growing?
The population has grown 2.33 percent since the 2020 census base. In 2024 there were 375 births against 524 deaths, with net migration of 572. Source: US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
What is the median household income in Clay County?
$81,172. The median owner-occupied home is valued at $265,500, which is 3.3 times income, and median gross rent is $1,019 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
How many businesses are there in Clay County?
1,306 establishments, employing 16,761 people with an annual payroll of $753.4 m. These are establishments physically operating in the county, not listings. Source: US Census Bureau, County Business Patterns, 2023.
What is the average wage in Clay County?
Average annual pay is $53,697, or $1,033 a week, across 19,702 covered jobs. Source: US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
How much SBA lending happens in Clay County?
88 7(a) approvals totalling $38.2 m since FY2020, across 25 lenders, with a median approval of $150,000, plus 74 504 approvals worth $47.3 m. These are approvals recorded in the release, not loans disbursed.
Do SBA loans in Clay County get paid back?
Of the 37 loans that have reached a final outcome, 37 were paid in full and 0 charged off, a charge off rate of 0.0 percent. Loans still running are excluded, because they have not yet succeeded or failed.
What is being built in Clay County?
269 housing units were authorised by permit in 2024, with a declared construction value of $55.5 m. Multifamily was 61.3 percent of units. Source: US Census Bureau, Building Permits Survey, 2024 annual.
What is the radon zone for Clay 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 Clay County come from?
The largest single origin is Clay County Non-migrants, with 22,730 households. Arriving households report an average income of $49,583 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 Clay 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 Clay 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.