McLeod County, Minnesota: commercial real estate data.
McLeod County, Minnesota has a population of 36,798 across 491 square miles, up 0.0 percent since the 2020 census base. County output reached $2.40 bn in 2024, 956 establishments operate here, and the SBA record carries 103 7(a) approvals worth $23.3 m.
123 sourced county values · tier FULL · 11 sections
McLeod County
How many people live in McLeod County
- Population36,798
- Households15,215
- Average household size2.42
- Median household income$80,084
- Median age41.6
- Median gross rent$941 per month
- Median owner-occupied home value$246,100
- Home value to household income3.1 times
- Annual rent as a share of median income14.1 percent
- Adults 25 and over with a bachelor degree or higher20.2 percent
- Adults 25 and over with a graduate degree6.4 percent
- Adults 25 and over25,777
- Population under 188,064
- Share under 1821.9 percent
- Population 65 and over7,393
- Share 65 and over20.1 percent
- Working age population, 18 to 6421,341
- Civilian labor force20,055
- Unemployment rate3.3 percent
- Labor force participation, adults 18 and over69.8 percent
- Rank by population among Minnesota counties29th of 87
- Rank by population among US county-equivalents1295th
McLeod County is the 29th largest of 87 Minnesota counties by population. A median home costs 3.1 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 20.1 percent, a household formation profile rather than a retirement one.
US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
McLeod County
Is McLeod County growing
- Population change since the 2020 census base0.04 percent
- Census 2020 base population36,764
- Births, 2024409
- Deaths, 2024444
- Natural change, 2024-35
- Net domestic migration, 2024-99
- Net international migration, 202462
- Total net migration, 2024-37
- Cumulative net domestic migration, 2021 to 2024-29
- Rank by growth among US county-equivalents1811th
The county has grown 0.04 percent since the 2020 census base.
US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
McLeod County
Where people moving to McLeod County come from
- Tax returns filed by households arriving968
- People arriving, from those returns1,669
- Adjusted gross income arriving$56.3 m
- Net adjusted gross income movement$0
- Average income of an arriving household$58,211
- Largest single originMcLeod County Non-migrants (15,142 households)
- Largest single destination (15,142 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| McLeod County Non-migrants | 15,142 | 30,501 | $1.19 bn |
| Other flows - Different State | 185 | 331 | $9.8 m |
| Other flows - Same State | 167 | 265 | $7.9 m |
| Carver County | 135 | 254 | $9.2 m |
| Hennepin County | 108 | 187 | $9.3 m |
| Meeker County | 94 | 150 | $4.9 m |
| Wright County | 86 | 142 | $4.7 m |
| Other flows - Midwest | 79 | 145 | $4.3 m |
The largest single source of arrivals is McLeod 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.
McLeod County
What the McLeod County economy runs on
- County GDP, 2024$2.40 bn
- County GDP, 2023$2.30 bn
- GDP change, 2023 to 20244.2 percent
- GDP change over five years33.3 percent
- Rank by GDP among Minnesota counties28th
- Rank by GDP among US county-equivalents1129th
- GDP per resident$65,127
Output grew 4.2 percent in the latest year and 33.3 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.
McLeod County
Who employs people in McLeod County
- Covered employment, annual average15,697
- Establishments reporting1,049
- Average annual pay$56,991
- Average weekly wage$1,096
- Sector 31-33, employment4,375
- Sector 31-33, average annual pay$78,283
- Sector 62, employment2,550
- Sector 62, average annual pay$56,692
- Sector 44-45, employment1,962
- Sector 44-45, average annual pay$31,000
- Sector 72, employment1,094
- Sector 72, average annual pay$20,085
- Sector 23, employment519
- Sector 56, employment439
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Sector 31-33 | 4,375 | 88 | $78,283 |
| Sector 62 | 2,550 | 141 | $56,692 |
| Sector 44-45 | 1,962 | 127 | $31,000 |
| Sector 72 | 1,094 | 65 | $20,085 |
| Sector 23 | 519 | 119 | $71,159 |
| Sector 56 | 439 | 43 | $52,863 |
| Sector 81 | 421 | 104 | $34,523 |
| Sector 52 | 386 | 76 | $72,994 |
The largest sector is the biggest private employer group at 4,375 jobs, 27.9 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.
McLeod County
What businesses operate in McLeod County
- Establishments, all industries956
- Employment at those establishments14,890
- Annual payroll$783.3 m
- Establishments per 1,000 residents26.0
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.
McLeod County
What is being built in McLeod County
- Housing units authorised by permit, 202450
- Declared construction value permitted$18.9 m
- Single family units authorised50
- Multifamily units authorised0
- Multifamily share of units0.0 percent
- Average declared value per unit$377,595
- Units authorised per 1,000 households3.3
Multifamily is 0.0 percent of units authorised, so the pipeline is predominantly for sale product.
US Census Bureau, Building Permits Survey, 2024 annual.
McLeod County
How much SBA lending happens in McLeod County
- 7(a) approvals recorded103
- 7(a) gross approval dollars$23.3 m
- Average 7(a) approval$226,004
- Median 7(a) approval$80,000
- 10th percentile approval$21,500
- 90th percentile approval$500,000
- Largest single approval$2,034,000
- Jobs reported supported, 7(a)992
- Jobs per approval9.6
- Distinct 7(a) lenders active17
- Distinct industries receiving approvals61
- Median 7(a) term84 months
- Share of loans on real estate terms, 240 months or longer7.8 percent
- Loans on real estate terms8
- Loans on working capital terms, 120 months or shorter87
- Franchise loans4
- Franchise share of approvals3.9 percent
- Leading industry by approval countFull-Service Restaurants (6)
- Most active lenderCitizens Bank & Trust Co (72)
- 504 approvals recorded60
- 504 gross approval dollars$23.3 m
- Average 504 approval$388,117
- Median 504 approval$215,000
- Distinct CDCs active5
- 504 jobs per approval5.2
- 504 jobs per million dollars approved13.4
- Most active CDCMidwest Business Finance Corporation (45)
- 7(a) share of SBA approvals63.2 percent
- Combined SBA approval dollars$46.6 m
The average approval of $226,004 sits well above the median of $80,000, 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 7.8 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.
McLeod County
Do SBA loans in McLeod County get paid back
- Loans with a final outcome recorded27
- Paid in full26
- Charged off1
- Charge off rate on resolved loans3.7 percent
- Status: Exempt from disclosure61
- Status: Charged off1
- Status: Paid in full26
- Status: Cancelled13
- Status: Committed, not yet disbursed2
Of the 27 loans that have reached a final outcome, 3.7 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.
McLeod County
Which parts of McLeod County get the lending
- Places in the county with recorded lending7
- HUTCHINSON, approvals81
- GLENCOE, approvals11
- LESTER PRAIRIE, approvals7
- Plato, approvals1
- WINSTED, approvals1
- SILVER LAKE, approvals1
| Place | Approvals | Gross approval dollars |
|---|---|---|
| HUTCHINSON | 81 | $18,579,400 |
| GLENCOE | 11 | $1,991,400 |
| LESTER PRAIRIE | 7 | $470,600 |
| Plato | 1 | $2,034,000 |
| WINSTED | 1 | $98,000 |
| SILVER LAKE | 1 | $30,000 |
| STEWART | 1 | $75,000 |
HUTCHINSON accounts for 81 approvals against 11 in GLENCOE. 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.
McLeod County
How big is McLeod County
- Land area491 sq mi
- Rank by land area among Minnesota counties69th of 87
- Width, east to west24.1 mi
- Height, north to south24.2 mi
- Geographies sharing a boundary5
- Residents per square mile of land75
- Establishments per square mile1.95
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 McLeod 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 McLeod County site starts with the figures you are reading, carrying the same source and period into the credit file.
- Population36,798
- Households15,215
- Average household size2.42
- Median household income$80,084
- Median age41.6
Common questions
McLeod County questions, answered from the record.
How many people live in McLeod County, Minnesota?
36,798, in 15,215 households, ranking 29th of 87 Minnesota counties. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Is McLeod County growing?
The population has grown 0.04 percent since the 2020 census base. In 2024 there were 409 births against 444 deaths, with net migration of -37. Source: US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
What is the median household income in McLeod County?
$80,084. The median owner-occupied home is valued at $246,100, which is 3.1 times income, and median gross rent is $941 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
How many businesses are there in McLeod County?
956 establishments, employing 14,890 people with an annual payroll of $783.3 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 McLeod County?
Average annual pay is $56,991, or $1,096 a week, across 15,697 covered jobs. Source: US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
How much SBA lending happens in McLeod County?
103 7(a) approvals totalling $23.3 m since FY2020, across 17 lenders, with a median approval of $80,000, plus 60 504 approvals worth $23.3 m. These are approvals recorded in the release, not loans disbursed.
Do SBA loans in McLeod County get paid back?
Of the 27 loans that have reached a final outcome, 26 were paid in full and 1 charged off, a charge off rate of 3.7 percent. Loans still running are excluded, because they have not yet succeeded or failed.
What is being built in McLeod County?
50 housing units were authorised by permit in 2024, with a declared construction value of $18.9 m. Multifamily was 0.0 percent of units. Source: US Census Bureau, Building Permits Survey, 2024 annual.
What is the radon zone for McLeod 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 McLeod County come from?
The largest single origin is McLeod County Non-migrants, with 15,142 households. Arriving households report an average income of $58,211 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 McLeod 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 McLeod 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.