Goodhue County, Minnesota: commercial real estate data.
Goodhue County, Minnesota has a population of 47,943 across 757 square miles, up 0.8 percent since the 2020 census base. County output reached $3.92 bn in 2024, 1,294 establishments operate here, and the SBA record carries 39 7(a) approvals worth $13.5 m.
120 sourced county values · tier FULL · 11 sections
Goodhue County
How many people live in Goodhue County
- Population47,943
- Households19,727
- Average household size2.43
- Median household income$84,171
- Median age42.5
- Median gross rent$966 per month
- Median owner-occupied home value$285,100
- Home value to household income3.4 times
- Annual rent as a share of median income13.8 percent
- Adults 25 and over with a bachelor degree or higher27.9 percent
- Adults 25 and over with a graduate degree8.6 percent
- Adults 25 and over34,018
- Population under 1810,514
- Share under 1821.9 percent
- Population 65 and over9,872
- Share 65 and over20.6 percent
- Working age population, 18 to 6427,557
- Civilian labor force24,945
- Unemployment rate3.6 percent
- Labor force participation, adults 18 and over66.6 percent
- Rank by population among Minnesota counties20th of 87
- Rank by population among US county-equivalents1039th
Goodhue County is the 20th largest of 87 Minnesota counties by population. A median home costs 3.4 times median household income, which is an affordable ownership market by national standards. Residents under 18 outnumber those 65 and over, at 21.9 percent against 20.6 percent, a household formation profile rather than a retirement one.
US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Goodhue County
Is Goodhue County growing
- Population change since the 2020 census base0.84 percent
- Census 2020 base population47,582
- Births, 2024476
- Deaths, 2024504
- Natural change, 2024-28
- Net domestic migration, 2024-92
- Net international migration, 202452
- Total net migration, 2024-40
- Cumulative net domestic migration, 2021 to 2024576
- Rank by growth among US county-equivalents1536th
The county has grown 0.84 percent since the 2020 census base.
US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
Goodhue County
Where people moving to Goodhue County come from
- Tax returns filed by households arriving1,304
- People arriving, from those returns2,193
- Adjusted gross income arriving$84.4 m
- Net adjusted gross income movement$0
- Average income of an arriving household$64,721
- Largest single originGoodhue County Non-migrants (19,455 households)
- Largest single destination (19,455 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Goodhue County Non-migrants | 19,455 | 39,127 | $1.70 bn |
| Other flows - Different State | 345 | 556 | $22.8 m |
| Dakota County | 242 | 404 | $14.2 m |
| Other flows - Midwest | 172 | 285 | $10.1 m |
| Other flows - Same State | 167 | 288 | $11.7 m |
| Olmsted County | 158 | 270 | $10.0 m |
| Other flows - West | 83 | 132 | $6.4 m |
| Hennepin County | 82 | 121 | $5.9 m |
The largest single source of arrivals is Goodhue 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.
Goodhue County
What the Goodhue County economy runs on
- County GDP, 2024$3.92 bn
- County GDP, 2023$3.89 bn
- GDP change, 2023 to 20240.7 percent
- GDP change over five years30.3 percent
- Rank by GDP among Minnesota counties16th
- Rank by GDP among US county-equivalents821st
- GDP per resident$81,676
Output grew 0.7 percent in the latest year and 30.3 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.
Goodhue County
Who employs people in Goodhue County
- Covered employment, annual average21,366
- Establishments reporting1,388
- Average annual pay$60,513
- Average weekly wage$1,164
- Sector 31-33, employment4,647
- Sector 31-33, average annual pay$70,052
- Sector 62, employment2,750
- Sector 62, average annual pay$59,657
- Sector 44-45, employment2,133
- Sector 44-45, average annual pay$36,241
- Sector 72, employment1,869
- Sector 72, average annual pay$22,719
- Sector 23, employment852
- Sector 42, employment728
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Sector 31-33 | 4,647 | 99 | $70,052 |
| Sector 62 | 2,750 | 166 | $59,657 |
| Sector 44-45 | 2,133 | 171 | $36,241 |
| Sector 72 | 1,869 | 104 | $22,719 |
| Sector 23 | 852 | 149 | $78,711 |
| Sector 42 | 728 | 50 | $80,035 |
| Sector 81 | 635 | 130 | $39,299 |
| Sector 56 | 462 | 62 | $61,583 |
The largest sector is the biggest private employer group at 4,647 jobs, 21.7 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.
Goodhue County
What businesses operate in Goodhue County
- Establishments, all industries1,294
- Employment at those establishments18,951
- Annual payroll$1.03 bn
- Establishments per 1,000 residents27.0
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.
Goodhue County
What is being built in Goodhue County
- Housing units authorised by permit, 202486
- Declared construction value permitted$25.3 m
- Single family units authorised78
- Multifamily units authorised8
- Multifamily share of units9.3 percent
- Average declared value per unit$293,954
- Units authorised per 1,000 households4.4
Multifamily is 9.3 percent of units authorised, so the pipeline is predominantly for sale product.
US Census Bureau, Building Permits Survey, 2024 annual.
Goodhue County
How much SBA lending happens in Goodhue County
- 7(a) approvals recorded39
- 7(a) gross approval dollars$13.5 m
- Average 7(a) approval$347,123
- Median 7(a) approval$150,000
- 10th percentile approval$20,000
- 90th percentile approval$931,000
- Largest single approval$2,779,000
- Jobs reported supported, 7(a)374
- Jobs per approval9.6
- Distinct 7(a) lenders active22
- Distinct industries receiving approvals30
- Median 7(a) term120 months
- Share of loans on real estate terms, 240 months or longer15.4 percent
- Loans on real estate terms6
- Loans on working capital terms, 120 months or shorter33
- Franchise loans6
- Franchise share of approvals15.4 percent
- Leading industry by approval countFruit and Vegetable Canning (3)
- Most active lenderBayFirst National Bank (4)
- 504 approvals recorded34
- 504 gross approval dollars$13.2 m
- Average 504 approval$388,824
- Median 504 approval$271,000
- Distinct CDCs active4
- 504 jobs per approval5.8
- 504 jobs per million dollars approved14.8
- Most active CDCTwin Cities-Metro Certified Development Company (15)
- 7(a) share of SBA approvals53.4 percent
- Combined SBA approval dollars$26.8 m
The average approval of $347,123 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 15.4 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.
Goodhue County
Do SBA loans in Goodhue County get paid back
- Loans with a final outcome recorded9
- Paid in full9
- Charged off0
- Status: Exempt from disclosure29
- Status: Paid in full9
- Status: Committed, not yet disbursed1
Too few loans have reached a final outcome to publish a charge off rate. only 9 resolved loans, too few to publish a rate. A rate computed on a handful of loans is noise, so none is shown.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Goodhue County
Which parts of Goodhue County get the lending
- Places in the county with recorded lending10
- RED WING, approvals14
- CANNON FALLS, approvals6
- LAKE CITY, approvals4
- ZUMBROTA, approvals3
- GOODHUE, approvals3
- PINE ISLAND, approvals3
| Place | Approvals | Gross approval dollars |
|---|---|---|
| RED WING | 14 | $4,134,400 |
| CANNON FALLS | 6 | $3,477,300 |
| LAKE CITY | 4 | $2,625,000 |
| ZUMBROTA | 3 | $406,200 |
| GOODHUE | 3 | $650,300 |
| PINE ISLAND | 3 | $629,900 |
| KENYON | 2 | $119,700 |
| DENNISON | 2 | $125,000 |
RED WING accounts for 14 approvals against 6 in CANNON FALLS. 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.
Goodhue County
How big is Goodhue County
- Land area757 sq mi
- Rank by land area among Minnesota counties32nd of 87
- Width, east to west39.4 mi
- Height, north to south35.8 mi
- Geographies sharing a boundary5
- Residents per square mile of land63
- Establishments per square mile1.71
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 Goodhue 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 Goodhue County site starts with the figures you are reading, carrying the same source and period into the credit file.
- Population47,943
- Households19,727
- Average household size2.43
- Median household income$84,171
- Median age42.5
Common questions
Goodhue County questions, answered from the record.
How many people live in Goodhue County, Minnesota?
47,943, in 19,727 households, ranking 20th of 87 Minnesota counties. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Is Goodhue County growing?
The population has grown 0.84 percent since the 2020 census base. In 2024 there were 476 births against 504 deaths, with net migration of -40. Source: US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
What is the median household income in Goodhue County?
$84,171. The median owner-occupied home is valued at $285,100, which is 3.4 times income, and median gross rent is $966 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
How many businesses are there in Goodhue County?
1,294 establishments, employing 18,951 people with an annual payroll of $1.03 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 Goodhue County?
Average annual pay is $60,513, or $1,164 a week, across 21,366 covered jobs. Source: US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
How much SBA lending happens in Goodhue County?
39 7(a) approvals totalling $13.5 m since FY2020, across 22 lenders, with a median approval of $150,000, plus 34 504 approvals worth $13.2 m. These are approvals recorded in the release, not loans disbursed.
What is being built in Goodhue County?
86 housing units were authorised by permit in 2024, with a declared construction value of $25.3 m. Multifamily was 9.3 percent of units. Source: US Census Bureau, Building Permits Survey, 2024 annual.
What is the radon zone for Goodhue 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 Goodhue County come from?
The largest single origin is Goodhue County Non-migrants, with 19,455 households. Arriving households report an average income of $64,721 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 Goodhue 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 Goodhue 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.