Murray County, Minnesota: commercial real estate data.
Murray County, Minnesota has a population of 8,097 across 705 square miles, down 1.5 percent since the 2020 census base. County output reached $721.5 m in 2024, 269 establishments operate here, and the SBA record carries 10 7(a) approvals worth $2.7 m.
119 sourced county values · tier FULL · 11 sections
Murray County
How many people live in Murray County
- Population8,097
- Households3,609
- Average household size2.24
- Median household income$74,033
- Median age46.5
- Median gross rent$810 per month
- Median owner-occupied home value$185,400
- Home value to household income2.5 times
- Annual rent as a share of median income13.1 percent
- Adults 25 and over with a bachelor degree or higher23.5 percent
- Adults 25 and over with a graduate degree5.7 percent
- Adults 25 and over5,801
- Population under 181,755
- Share under 1821.7 percent
- Population 65 and over2,152
- Share 65 and over26.6 percent
- Working age population, 18 to 644,190
- Civilian labor force4,122
- Unemployment rate2.7 percent
- Labor force participation, adults 18 and over65.0 percent
- Rank by population among Minnesota counties75th of 87
- Rank by population among US county-equivalents2648th
Murray County is the 75th largest of 87 Minnesota counties by population. A median home costs 2.5 times median household income, which is an affordable ownership market by national standards. Residents 65 and over outnumber those under 18, at 26.6 percent against 21.7 percent, which points demand at health care, services and single storey product rather than schools.
US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Murray County
Is Murray County growing
- Population change since the 2020 census base-1.52 percent
- Census 2020 base population8,168
- Births, 202456
- Deaths, 202465
- Natural change, 2024-9
- Net domestic migration, 2024-54
- Net international migration, 202420
- Total net migration, 2024-34
- Cumulative net domestic migration, 2021 to 2024-91
- Rank by growth among US county-equivalents2364th
The county has lost 1.52 percent of its population since the 2020 census base.
US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
Murray County
Where people moving to Murray County come from
- Tax returns filed by households arriving165
- People arriving, from those returns312
- Adjusted gross income arriving$10.0 m
- Net adjusted gross income movement$0
- Average income of an arriving household$60,806
- Largest single originMurray County Non-migrants (3,333 households)
- Largest single destination (3,333 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Murray County Non-migrants | 3,333 | 6,830 | $273.8 m |
| Other flows - Same State | 90 | 175 | $5.2 m |
| Other flows - Different State | 39 | 62 | $2.4 m |
| Other flows - Midwest | 39 | 62 | $2.4 m |
| Nobles County | 36 | 75 | $2.4 m |
The largest single source of arrivals is Murray 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.
Murray County
What the Murray County economy runs on
- County GDP, 2024$721.5 m
- County GDP, 2023$656.7 m
- GDP change, 2023 to 20249.9 percent
- GDP change over five years40.0 percent
- Rank by GDP among Minnesota counties68th
- Rank by GDP among US county-equivalents2118th
- GDP per resident$89,102
Output grew 9.9 percent in the latest year and 40.0 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.
Murray County
Who employs people in Murray County
- Covered employment, annual average2,914
- Establishments reporting341
- Average annual pay$49,046
- Average weekly wage$943
- Sector 44-45, employment342
- Sector 44-45, average annual pay$35,931
- Sector 42, employment185
- Sector 42, average annual pay$58,700
- Sector 23, employment146
- Sector 23, average annual pay$47,914
- Sector 11, employment99
- Sector 11, average annual pay$41,453
- Sector 54, employment72
- Sector 81, employment67
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Sector 44-45 | 342 | 41 | $35,931 |
| Sector 42 | 185 | 23 | $58,700 |
| Sector 23 | 146 | 51 | $47,914 |
| Sector 11 | 99 | 19 | $41,453 |
| Sector 54 | 72 | 13 | $83,359 |
| Sector 81 | 67 | 25 | $29,789 |
| Sector 56 | 26 | 4 | $45,145 |
| Sector 51 | 15 | 5 | $30,850 |
The largest sector is the biggest private employer group at 342 jobs, 11.7 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.
Murray County
What businesses operate in Murray County
- Establishments, all industries269
- Employment at those establishments2,175
- Annual payroll$104.3 m
- Establishments per 1,000 residents33.2
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.
Murray County
What is being built in Murray County
- Housing units authorised by permit, 202422
- Declared construction value permitted$12.3 m
- Single family units authorised22
- Multifamily units authorised0
- Multifamily share of units0.0 percent
- Average declared value per unit$557,836
- Units authorised per 1,000 households6.1
Multifamily is 0.0 percent of units authorised, so the pipeline is predominantly for sale product.
US Census Bureau, Building Permits Survey, 2024 annual.
Murray County
How much SBA lending happens in Murray County
- 7(a) approvals recorded10
- 7(a) gross approval dollars$2.7 m
- Average 7(a) approval$267,440
- Median 7(a) approval$125,000
- 10th percentile approval$75,000
- 90th percentile approval$835,000
- Largest single approval$835,000
- Jobs reported supported, 7(a)55
- Jobs per approval5.5
- Distinct 7(a) lenders active4
- Distinct industries receiving approvals7
- Median 7(a) term120 months
- Share of loans on real estate terms, 240 months or longer20.0 percent
- Loans on real estate terms2
- Loans on working capital terms, 120 months or shorter6
- Franchise loans0
- Franchise share of approvals0.0 percent
- Leading industry by approval countFarm Supplies Merchant Wholesalers (3)
- Most active lenderFirst National Bank (6)
- 504 approvals recorded8
- 504 gross approval dollars$1.6 m
- Average 504 approval$199,125
- Median 504 approval$123,000
- Distinct CDCs active2
- 504 jobs per approval1.9
- 504 jobs per million dollars approved9.4
- Most active CDCMidwest Business Finance Corporation (6)
- 7(a) share of SBA approvals55.6 percent
- Combined SBA approval dollars$4.3 m
The average approval of $267,440 sits well above the median of $125,000, 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 20.0 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.
Murray County
Do SBA loans in Murray County get paid back
- Loans with a final outcome recorded3
- Paid in full3
- Charged off0
- Status: Paid in full3
- Status: Cancelled1
- Status: Exempt from disclosure6
Too few loans have reached a final outcome to publish a charge off rate. only 3 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.
Murray County
Which parts of Murray County get the lending
- Places in the county with recorded lending5
- Fulda, approvals4
- SLAYTON, approvals3
- CHANDLER, approvals1
- CASA GRANDE, approvals1
- HADLEY, approvals1
| Place | Approvals | Gross approval dollars |
|---|---|---|
| Fulda | 4 | $828,900 |
| SLAYTON | 3 | $1,519,500 |
| CHANDLER | 1 | $6,000 |
| CASA GRANDE | 1 | $120,000 |
| HADLEY | 1 | $200,000 |
Fulda accounts for 4 approvals against 3 in SLAYTON. 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.
Murray County
How big is Murray County
- Land area705 sq mi
- Rank by land area among Minnesota counties42nd of 87
- Width, east to west30 mi
- Height, north to south24.1 mi
- Geographies sharing a boundary6
- Residents per square mile of land11
- Establishments per square mile0.38
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 Murray 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 Murray County site starts with the figures you are reading, carrying the same source and period into the credit file.
- Population8,097
- Households3,609
- Average household size2.24
- Median household income$74,033
- Median age46.5
Common questions
Murray County questions, answered from the record.
How many people live in Murray County, Minnesota?
8,097, in 3,609 households, ranking 75th of 87 Minnesota counties. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Is Murray County growing?
The population has fallen 1.52 percent since the 2020 census base. In 2024 there were 56 births against 65 deaths, with net migration of -34. Source: US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
What is the median household income in Murray County?
$74,033. The median owner-occupied home is valued at $185,400, which is 2.5 times income, and median gross rent is $810 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
How many businesses are there in Murray County?
269 establishments, employing 2,175 people with an annual payroll of $104.3 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 Murray County?
Average annual pay is $49,046, or $943 a week, across 2,914 covered jobs. Source: US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
How much SBA lending happens in Murray County?
10 7(a) approvals totalling $2.7 m since FY2020, across 4 lenders, with a median approval of $125,000, plus 8 504 approvals worth $1.6 m. These are approvals recorded in the release, not loans disbursed.
What is being built in Murray County?
22 housing units were authorised by permit in 2024, with a declared construction value of $12.3 m. Multifamily was 0.0 percent of units. Source: US Census Bureau, Building Permits Survey, 2024 annual.
What is the radon zone for Murray 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 Murray County come from?
The largest single origin is Murray County Non-migrants, with 3,333 households. Arriving households report an average income of $60,806 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 Murray 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 Murray 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.