Dakota County, Minnesota: commercial real estate data.
Dakota County, Minnesota has a population of 445,771 across 562 square miles, up 3.0 percent since the 2020 census base. County output reached $37.14 bn in 2024, 10,964 establishments operate here, and the SBA record carries 780 7(a) approvals worth $410.3 m.
123 sourced county values · tier FULL · 11 sections
Dakota County
How many people live in Dakota County
- Population445,771
- Households174,362
- Average household size2.56
- Median household income$106,318
- Median age38.6
- Median gross rent$1,548 per month
- Median owner-occupied home value$381,000
- Home value to household income3.6 times
- Annual rent as a share of median income17.5 percent
- Adults 25 and over with a bachelor degree or higher45.0 percent
- Adults 25 and over with a graduate degree14.9 percent
- Adults 25 and over304,436
- Population under 18106,823
- Share under 1824.0 percent
- Population 65 and over70,787
- Share 65 and over15.9 percent
- Working age population, 18 to 64268,161
- Civilian labor force248,917
- Unemployment rate3.6 percent
- Labor force participation, adults 18 and over73.4 percent
- Rank by population among Minnesota counties3rd of 87
- Rank by population among US county-equivalents163rd
Dakota County is the 3rd 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 24.0 percent against 15.9 percent, a household formation profile rather than a retirement one.
US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Dakota County
Is Dakota County growing
- Population change since the 2020 census base3.02 percent
- Census 2020 base population439,880
- Births, 20244,842
- Deaths, 20243,218
- Natural change, 20241,624
- Net domestic migration, 2024986
- Net international migration, 20242,059
- Total net migration, 20243,045
- Cumulative net domestic migration, 2021 to 202469
- Rank by growth among US county-equivalents865th
The county has grown 3.02 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.
Dakota County
Where people moving to Dakota County come from
- Tax returns filed by households arriving14,390
- People arriving, from those returns24,298
- Adjusted gross income arriving$1.01 bn
- Net adjusted gross income movement$0
- Average income of an arriving household$70,009
- Largest single originDakota County Non-migrants (175,409 households)
- Largest single destination (175,409 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Dakota County Non-migrants | 175,409 | 363,113 | $19.13 bn |
| Hennepin County | 3,981 | 6,823 | $293.1 m |
| Ramsey County | 2,472 | 4,223 | $166.4 m |
| Other flows - Different State | 2,394 | 4,145 | $178.2 m |
| Scott County | 1,004 | 1,827 | $75.0 m |
| Washington County | 966 | 1,539 | $64.2 m |
| Other flows - Midwest | 830 | 1,381 | $58.9 m |
| Other flows - South | 809 | 1,462 | $60.9 m |
The largest single source of arrivals is Dakota 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.
Dakota County
What the Dakota County economy runs on
- County GDP, 2024$37.14 bn
- County GDP, 2023$35.51 bn
- GDP change, 2023 to 20244.6 percent
- GDP change over five years38.2 percent
- Rank by GDP among Minnesota counties3rd
- Rank by GDP among US county-equivalents161st
- GDP per resident$83,313
Output grew 4.6 percent in the latest year and 38.2 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.
Dakota County
Who employs people in Dakota County
- Covered employment, annual average189,387
- Establishments reporting11,950
- Average annual pay$72,792
- Average weekly wage$1,400
- Sector 62, employment24,929
- Sector 62, average annual pay$56,405
- Sector 44-45, employment24,020
- Sector 44-45, average annual pay$39,587
- Sector 31-33, employment19,591
- Sector 31-33, average annual pay$89,850
- Sector 72, employment15,558
- Sector 72, average annual pay$26,521
- Sector 48-49, employment11,211
- Sector 23, employment10,366
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Sector 62 | 24,929 | 2,023 | $56,405 |
| Sector 44-45 | 24,020 | 1,156 | $39,587 |
| Sector 31-33 | 19,591 | 465 | $89,850 |
| Sector 72 | 15,558 | 781 | $26,521 |
| Sector 48-49 | 11,211 | 425 | $68,700 |
| Sector 23 | 10,366 | 1,089 | $111,166 |
| Sector 52 | 9,329 | 617 | $115,566 |
| Sector 42 | 8,925 | 712 | $94,100 |
The largest sector is the biggest private employer group at 24,929 jobs, 13.2 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.
Dakota County
What businesses operate in Dakota County
- Establishments, all industries10,964
- Employment at those establishments185,426
- Annual payroll$12.43 bn
- Establishments per 1,000 residents24.6
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.
Dakota County
What is being built in Dakota County
- Housing units authorised by permit, 20242,146
- Declared construction value permitted$528.6 m
- Single family units authorised1,236
- Multifamily units authorised910
- Multifamily share of units42.4 percent
- Average declared value per unit$246,319
- Units authorised per 1,000 households12.3
Multifamily is 42.4 percent of units authorised, so the pipeline is being built for renters rather than buyers.
US Census Bureau, Building Permits Survey, 2024 annual.
Dakota County
How much SBA lending happens in Dakota County
- 7(a) approvals recorded780
- 7(a) gross approval dollars$410.3 m
- Average 7(a) approval$525,984
- Median 7(a) approval$200,000
- 10th percentile approval$25,000
- 90th percentile approval$1,581,000
- Largest single approval$5,000,000
- Jobs reported supported, 7(a)9,697
- Jobs per approval12.4
- Distinct 7(a) lenders active101
- Distinct industries receiving approvals210
- Median 7(a) term120 months
- Share of loans on real estate terms, 240 months or longer7.6 percent
- Loans on real estate terms59
- Loans on working capital terms, 120 months or shorter672
- Franchise loans93
- Franchise share of approvals11.9 percent
- Leading industry by approval countFull-Service Restaurants (31)
- Most active lenderU.S. Bank, National Association (125)
- 504 approvals recorded298
- 504 gross approval dollars$257.0 m
- Average 504 approval$862,312
- Median 504 approval$554,000
- Distinct CDCs active7
- 504 jobs per approval14.9
- 504 jobs per million dollars approved17.3
- Most active CDCTwin Cities-Metro Certified Development Company (126)
- 7(a) share of SBA approvals72.4 percent
- Combined SBA approval dollars$667.2 m
The average approval of $525,984 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 7.6 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.
Dakota County
Do SBA loans in Dakota County get paid back
- Loans with a final outcome recorded183
- Paid in full163
- Charged off20
- Charge off rate on resolved loans10.9 percent
- Status: Paid in full163
- Status: Exempt from disclosure464
- Status: Charged off20
- Status: Cancelled83
- Status: Committed, not yet disbursed50
| NAICS | Industry | Resolved loans | Charged off | Charge off rate |
|---|---|---|---|---|
| 713940 | Fitness and Recreational Sports Centers | 10 | 2 | 20.0% |
Of the 183 loans that have reached a final outcome, 10.9 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. Among industries with at least ten resolved loans, Fitness and Recreational Sports Centers carries the highest charge off rate at 20.0 percent.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Dakota County
Which parts of Dakota County get the lending
- Places in the county with recorded lending22
- BURNSVILLE, approvals176
- SAINT PAUL, approvals139
- LAKEVILLE, approvals121
- EAGAN, approvals68
- APPLE VALLEY, approvals54
- ROSEMOUNT, approvals51
| Place | Approvals | Gross approval dollars |
|---|---|---|
| BURNSVILLE | 176 | $117,040,500 |
| SAINT PAUL | 139 | $61,790,000 |
| LAKEVILLE | 121 | $61,792,400 |
| EAGAN | 68 | $32,503,100 |
| APPLE VALLEY | 54 | $31,285,000 |
| ROSEMOUNT | 51 | $25,364,100 |
| Inver Grove Heights | 49 | $24,244,000 |
| SOUTH SAINT PAUL | 30 | $16,794,400 |
BURNSVILLE accounts for 176 approvals against 139 in SAINT PAUL. 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.
Dakota County
How big is Dakota County
- Land area562 sq mi
- Rank by land area among Minnesota counties58th of 87
- Width, east to west29.3 mi
- Height, north to south30.9 mi
- Geographies sharing a boundary6
- Residents per square mile of land793
- Establishments per square mile19.51
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 Dakota 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 Dakota County site starts with the figures you are reading, carrying the same source and period into the credit file.
- Population445,771
- Households174,362
- Average household size2.56
- Median household income$106,318
- Median age38.6
Common questions
Dakota County questions, answered from the record.
How many people live in Dakota County, Minnesota?
445,771, in 174,362 households, ranking 3rd of 87 Minnesota counties. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Is Dakota County growing?
The population has grown 3.02 percent since the 2020 census base. In 2024 there were 4,842 births against 3,218 deaths, with net migration of 3,045. Source: US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
What is the median household income in Dakota County?
$106,318. The median owner-occupied home is valued at $381,000, which is 3.6 times income, and median gross rent is $1,548 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
How many businesses are there in Dakota County?
10,964 establishments, employing 185,426 people with an annual payroll of $12.43 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 Dakota County?
Average annual pay is $72,792, or $1,400 a week, across 189,387 covered jobs. Source: US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
How much SBA lending happens in Dakota County?
780 7(a) approvals totalling $410.3 m since FY2020, across 101 lenders, with a median approval of $200,000, plus 298 504 approvals worth $257.0 m. These are approvals recorded in the release, not loans disbursed.
Do SBA loans in Dakota County get paid back?
Of the 183 loans that have reached a final outcome, 163 were paid in full and 20 charged off, a charge off rate of 10.9 percent. Loans still running are excluded, because they have not yet succeeded or failed.
What is being built in Dakota County?
2,146 housing units were authorised by permit in 2024, with a declared construction value of $528.6 m. Multifamily was 42.4 percent of units. Source: US Census Bureau, Building Permits Survey, 2024 annual.
What is the radon zone for Dakota 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 Dakota County come from?
The largest single origin is Dakota County Non-migrants, with 175,409 households. Arriving households report an average income of $70,009 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 Dakota 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 Dakota 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.