Nicollet County, Minnesota: commercial real estate data.
Nicollet County, Minnesota has a population of 34,411 across 448 square miles, up 0.1 percent since the 2020 census base. County output reached $1.98 bn in 2024, 685 establishments operate here, and the SBA record carries 47 7(a) approvals worth $26.8 m.
122 sourced county values · tier FULL · 11 sections
Nicollet County
How many people live in Nicollet County
- Population34,411
- Households13,002
- Average household size2.65
- Median household income$79,756
- Median age38.3
- Median gross rent$970 per month
- Median owner-occupied home value$270,300
- Home value to household income3.4 times
- Annual rent as a share of median income14.6 percent
- Adults 25 and over with a bachelor degree or higher36.1 percent
- Adults 25 and over with a graduate degree12.0 percent
- Adults 25 and over22,327
- Population under 187,382
- Share under 1821.5 percent
- Population 65 and over6,043
- Share 65 and over17.6 percent
- Working age population, 18 to 6420,986
- Civilian labor force19,024
- Unemployment rate2.2 percent
- Labor force participation, adults 18 and over70.4 percent
- Rank by population among Minnesota counties32nd of 87
- Rank by population among US county-equivalents1355th
Nicollet County is the 32nd 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 21.5 percent against 17.6 percent, a household formation profile rather than a retirement one.
US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Nicollet County
Is Nicollet County growing
- Population change since the 2020 census base0.12 percent
- Census 2020 base population34,453
- Births, 2024294
- Deaths, 2024281
- Natural change, 202413
- Net domestic migration, 202421
- Net international migration, 2024141
- Total net migration, 2024162
- Cumulative net domestic migration, 2021 to 2024-458
- Rank by growth among US county-equivalents1784th
The county has grown 0.12 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.
Nicollet County
Where people moving to Nicollet County come from
- Tax returns filed by households arriving1,190
- People arriving, from those returns2,031
- Adjusted gross income arriving$67.5 m
- Net adjusted gross income movement$0
- Average income of an arriving household$56,684
- Largest single originNicollet County Non-migrants (12,634 households)
- Largest single destination (12,634 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Nicollet County Non-migrants | 12,634 | 25,909 | $1.14 bn |
| Blue Earth County | 468 | 783 | $26.2 m |
| Other flows - Same State | 200 | 332 | $11.1 m |
| Other flows - Different State | 188 | 346 | $11.6 m |
| Other flows - Midwest | 96 | 171 | $5.8 m |
| Le Sueur County | 88 | 154 | $4.4 m |
| Hennepin County | 63 | 101 | $4.3 m |
| Brown County | 58 | 108 | $3.1 m |
The largest single source of arrivals is Nicollet 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.
Nicollet County
What the Nicollet County economy runs on
- County GDP, 2024$1.98 bn
- County GDP, 2023$1.91 bn
- GDP change, 2023 to 20243.7 percent
- GDP change over five years28.4 percent
- Rank by GDP among Minnesota counties33rd
- Rank by GDP among US county-equivalents1291st
- GDP per resident$57,618
Output grew 3.7 percent in the latest year and 28.4 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.
Nicollet County
Who employs people in Nicollet County
- Covered employment, annual average14,609
- Establishments reporting849
- Average annual pay$56,235
- Average weekly wage$1,081
- Sector 31-33, employment3,228
- Sector 31-33, average annual pay$59,347
- Sector 44-45, employment1,232
- Sector 44-45, average annual pay$36,188
- Sector 72, employment911
- Sector 72, average annual pay$18,409
- Sector 81, employment397
- Sector 81, average annual pay$46,292
- Sector 23, employment349
- Sector 51, employment341
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Sector 31-33 | 3,228 | 58 | $59,347 |
| Sector 44-45 | 1,232 | 73 | $36,188 |
| Sector 72 | 911 | 60 | $18,409 |
| Sector 81 | 397 | 66 | $46,292 |
| Sector 23 | 349 | 86 | $63,950 |
| Sector 51 | 341 | 13 | $94,167 |
| Sector 52 | 248 | 39 | $77,564 |
| Sector 11 | 238 | 36 | $49,450 |
The largest sector is the biggest private employer group at 3,228 jobs, 22.1 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.
Nicollet County
What businesses operate in Nicollet County
- Establishments, all industries685
- Employment at those establishments13,540
- Annual payroll$735.4 m
- Establishments per 1,000 residents19.9
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.
Nicollet County
What is being built in Nicollet County
- Housing units authorised by permit, 2024106
- Declared construction value permitted$23.2 m
- Single family units authorised42
- Multifamily units authorised64
- Multifamily share of units60.4 percent
- Average declared value per unit$219,206
- Units authorised per 1,000 households8.2
Multifamily is 60.4 percent of units authorised, so the pipeline is being built for renters rather than buyers.
US Census Bureau, Building Permits Survey, 2024 annual.
Nicollet County
How much SBA lending happens in Nicollet County
- 7(a) approvals recorded47
- 7(a) gross approval dollars$26.8 m
- Average 7(a) approval$571,202
- Median 7(a) approval$175,000
- 10th percentile approval$50,000
- 90th percentile approval$1,600,000
- Largest single approval$3,588,600
- Jobs reported supported, 7(a)514
- Jobs per approval10.9
- Distinct 7(a) lenders active19
- Distinct industries receiving approvals32
- Median 7(a) term120 months
- Share of loans on real estate terms, 240 months or longer6.4 percent
- Loans on real estate terms3
- Loans on working capital terms, 120 months or shorter38
- Franchise loans2
- Franchise share of approvals4.3 percent
- Leading industry by approval countAll Other Personal Services (4)
- Most active lenderProGrowth Bank (9)
- 504 approvals recorded28
- 504 gross approval dollars$24.9 m
- Average 504 approval$888,929
- Median 504 approval$581,000
- Distinct CDCs active6
- 504 jobs per approval11.5
- 504 jobs per million dollars approved13.0
- Most active CDCSoutheastern Minnesota 504 Development Corporation (12)
- 7(a) share of SBA approvals62.7 percent
- Combined SBA approval dollars$51.7 m
The average approval of $571,202 sits well above the median of $175,000, 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 6.4 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.
Nicollet County
Do SBA loans in Nicollet County get paid back
- Loans with a final outcome recorded10
- Paid in full10
- Charged off0
- Charge off rate on resolved loans0.0 percent
- Status: Paid in full10
- Status: Cancelled4
- Status: Exempt from disclosure30
- Status: Committed, not yet disbursed3
Of the 10 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.
Nicollet County
Which parts of Nicollet County get the lending
- Places in the county with recorded lending7
- North Mankato, approvals21
- SAINT PETER, approvals10
- NICOLLET, approvals6
- COURTLAND, approvals4
- Lafayette, approvals4
- NEW ULM, approvals1
| Place | Approvals | Gross approval dollars |
|---|---|---|
| North Mankato | 21 | $5,401,300 |
| SAINT PETER | 10 | $7,521,100 |
| NICOLLET | 6 | $958,400 |
| COURTLAND | 4 | $4,568,100 |
| Lafayette | 4 | $6,794,600 |
| NEW ULM | 1 | $150,000 |
| MANKATO | 1 | $1,453,000 |
North Mankato accounts for 21 approvals against 10 in SAINT PETER. 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.
Nicollet County
How big is Nicollet County
- Land area448 sq mi
- Rank by land area among Minnesota counties73rd of 87
- Width, east to west42.1 mi
- Height, north to south20.9 mi
- Geographies sharing a boundary5
- Residents per square mile of land77
- Establishments per square mile1.53
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 Nicollet 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 Nicollet County site starts with the figures you are reading, carrying the same source and period into the credit file.
- Population34,411
- Households13,002
- Average household size2.65
- Median household income$79,756
- Median age38.3
Common questions
Nicollet County questions, answered from the record.
How many people live in Nicollet County, Minnesota?
34,411, in 13,002 households, ranking 32nd of 87 Minnesota counties. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Is Nicollet County growing?
The population has grown 0.12 percent since the 2020 census base. In 2024 there were 294 births against 281 deaths, with net migration of 162. Source: US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
What is the median household income in Nicollet County?
$79,756. The median owner-occupied home is valued at $270,300, which is 3.4 times income, and median gross rent is $970 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
How many businesses are there in Nicollet County?
685 establishments, employing 13,540 people with an annual payroll of $735.4 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 Nicollet County?
Average annual pay is $56,235, or $1,081 a week, across 14,609 covered jobs. Source: US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
How much SBA lending happens in Nicollet County?
47 7(a) approvals totalling $26.8 m since FY2020, across 19 lenders, with a median approval of $175,000, plus 28 504 approvals worth $24.9 m. These are approvals recorded in the release, not loans disbursed.
Do SBA loans in Nicollet County get paid back?
Of the 10 loans that have reached a final outcome, 10 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 Nicollet County?
106 housing units were authorised by permit in 2024, with a declared construction value of $23.2 m. Multifamily was 60.4 percent of units. Source: US Census Bureau, Building Permits Survey, 2024 annual.
What is the radon zone for Nicollet 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 Nicollet County come from?
The largest single origin is Nicollet County Non-migrants, with 12,634 households. Arriving households report an average income of $56,684 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 Nicollet 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 Nicollet 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.