Nobles County, Minnesota: commercial real estate data.
Nobles County, Minnesota has a population of 22,041 across 715 square miles, down 1.4 percent since the 2020 census base. County output reached $1.90 bn in 2024, 574 establishments operate here, and the SBA record carries 4 7(a) approvals worth $735,000.
115 sourced county values · tier FULL · 11 sections
Nobles County
How many people live in Nobles County
- Population22,041
- Households7,674
- Average household size2.87
- Median household income$66,101
- Median age35.7
- Median gross rent$896 per month
- Median owner-occupied home value$197,200
- Home value to household income3.0 times
- Annual rent as a share of median income16.3 percent
- Adults 25 and over with a bachelor degree or higher17.9 percent
- Adults 25 and over with a graduate degree5.0 percent
- Adults 25 and over13,649
- Population under 186,383
- Share under 1829.0 percent
- Population 65 and over3,789
- Share 65 and over17.2 percent
- Working age population, 18 to 6411,869
- Civilian labor force10,274
- Unemployment rate3.2 percent
- Labor force participation, adults 18 and over65.6 percent
- Rank by population among Minnesota counties44th of 87
- Rank by population among US county-equivalents1772nd
Nobles County is the 44th largest of 87 Minnesota counties by population. A median home costs 3.0 times median household income, which is an affordable ownership market by national standards. Residents under 18 outnumber those 65 and over, at 29.0 percent against 17.2 percent, a household formation profile rather than a retirement one.
US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Nobles County
Is Nobles County growing
- Population change since the 2020 census base-1.44 percent
- Census 2020 base population22,290
- Births, 2024289
- Deaths, 2024221
- Natural change, 202468
- Net domestic migration, 2024-327
- Net international migration, 2024306
- Total net migration, 2024-21
- Cumulative net domestic migration, 2021 to 2024-1,627
- Rank by growth among US county-equivalents2340th
The county has lost 1.44 percent of its population since the 2020 census base. Births exceeded deaths in 2024 but more people left than arrived, so the population is being sustained internally rather than attracting.
US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
Nobles County
Where people moving to Nobles County come from
- Tax returns filed by households arriving328
- People arriving, from those returns596
- Adjusted gross income arriving$16.2 m
- Net adjusted gross income movement$0
- Average income of an arriving household$49,409
- Largest single originNobles County Non-migrants (8,114 households)
- Largest single destination (8,114 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Nobles County Non-migrants | 8,114 | 17,770 | $594.9 m |
| Other flows - Different State | 150 | 260 | $6.9 m |
| Other flows - Same State | 112 | 210 | $5.4 m |
| Other flows - Midwest | 84 | 130 | $3.4 m |
| Other flows - South | 38 | 71 | $2.1 m |
| Other flows - West | 28 | 59 | $1.4 m |
| Murray County | 23 | 42 | $1.5 m |
| Minnehaha County | 23 | 46 | $1.1 m |
The largest single source of arrivals is Nobles 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.
Nobles County
What the Nobles County economy runs on
- County GDP, 2024$1.90 bn
- County GDP, 2023$1.73 bn
- GDP change, 2023 to 20249.7 percent
- GDP change over five years46.3 percent
- Rank by GDP among Minnesota counties35th
- Rank by GDP among US county-equivalents1328th
- GDP per resident$86,069
Output grew 9.7 percent in the latest year and 46.3 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.
Nobles County
Who employs people in Nobles County
- Covered employment, annual average9,788
- Establishments reporting638
- Average annual pay$55,354
- Average weekly wage$1,065
- Sector 31-33, employment3,315
- Sector 31-33, average annual pay$71,230
- Sector 44-45, employment1,264
- Sector 44-45, average annual pay$31,685
- Sector 48-49, employment338
- Sector 48-49, average annual pay$54,493
- Sector 11, employment334
- Sector 11, average annual pay$40,635
- Sector 42, employment303
- Sector 81, employment299
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Sector 31-33 | 3,315 | 30 | $71,230 |
| Sector 44-45 | 1,264 | 91 | $31,685 |
| Sector 48-49 | 338 | 33 | $54,493 |
| Sector 11 | 334 | 50 | $40,635 |
| Sector 42 | 303 | 36 | $86,256 |
| Sector 81 | 299 | 66 | $36,916 |
| Sector 23 | 240 | 66 | $58,242 |
| Sector 52 | 224 | 31 | $75,289 |
The largest sector is the biggest private employer group at 3,315 jobs, 33.9 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.
Nobles County
What businesses operate in Nobles County
- Establishments, all industries574
- Employment at those establishments8,853
- Annual payroll$447.4 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.
Nobles County
What is being built in Nobles County
- Housing units authorised by permit, 202418
- Declared construction value permitted$5.6 m
- Single family units authorised16
- Multifamily units authorised2
- Multifamily share of units11.1 percent
- Average declared value per unit$312,492
- Units authorised per 1,000 households2.3
Multifamily is 11.1 percent of units authorised, so the pipeline is predominantly for sale product.
US Census Bureau, Building Permits Survey, 2024 annual.
Nobles County
How much SBA lending happens in Nobles County
- 7(a) approvals recorded4
- 7(a) gross approval dollars$735,000
- Average 7(a) approval$183,750
- Median 7(a) approval$150,000
- 10th percentile approval$50,000
- 90th percentile approval$465,000
- Largest single approval$465,000
- Jobs reported supported, 7(a)29
- Jobs per approval7.3
- Distinct 7(a) lenders active2
- Distinct industries receiving approvals2
- Median 7(a) term120 months
- Share of loans on real estate terms, 240 months or longer0.0 percent
- Loans on real estate terms0
- Loans on working capital terms, 120 months or shorter3
- Franchise loans0
- Franchise share of approvals0.0 percent
- Leading industry by approval countMeat Processed from Carcasses (2)
- Most active lenderOld National Bank (2)
- 504 approvals recorded18
- 504 gross approval dollars$9.9 m
- Average 504 approval$548,944
- Median 504 approval$356,000
- Distinct CDCs active3
- 504 jobs per approval4.4
- 504 jobs per million dollars approved8.1
- Most active CDCMidwest Business Finance Corporation (13)
- 7(a) share of SBA approvals18.2 percent
- Combined SBA approval dollars$10.6 m
The average approval of $183,750 sits close to the median of $150,000, so lending here is fairly evenly sized rather than driven by a few large deals. Only 0.0 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.
Nobles County
Do SBA loans in Nobles County get paid back
- Loans with a final outcome recorded0
- Paid in full0
- Charged off0
- Status: Cancelled1
- Status: Exempt from disclosure3
Too few loans have reached a final outcome to publish a charge off rate. only 0 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.
Nobles County
Which parts of Nobles County get the lending
- Places in the county with recorded lending2
- WORTHINGTON, approvals2
- LISMORE, approvals2
| Place | Approvals | Gross approval dollars |
|---|---|---|
| WORTHINGTON | 2 | $200,000 |
| LISMORE | 2 | $535,000 |
WORTHINGTON accounts for 2 approvals against 2 in LISMORE. 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.
Nobles County
How big is Nobles County
- Land area715 sq mi
- Rank by land area among Minnesota counties37th of 87
- Width, east to west30.1 mi
- Height, north to south24.1 mi
- Geographies sharing a boundary4
- Residents per square mile of land31
- Establishments per square mile0.80
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 Nobles 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 Nobles County site starts with the figures you are reading, carrying the same source and period into the credit file.
- Population22,041
- Households7,674
- Average household size2.87
- Median household income$66,101
- Median age35.7
Common questions
Nobles County questions, answered from the record.
How many people live in Nobles County, Minnesota?
22,041, in 7,674 households, ranking 44th of 87 Minnesota counties. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Is Nobles County growing?
The population has fallen 1.44 percent since the 2020 census base. In 2024 there were 289 births against 221 deaths, with net migration of -21. Source: US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
What is the median household income in Nobles County?
$66,101. The median owner-occupied home is valued at $197,200, which is 3.0 times income, and median gross rent is $896 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
How many businesses are there in Nobles County?
574 establishments, employing 8,853 people with an annual payroll of $447.4 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 Nobles County?
Average annual pay is $55,354, or $1,065 a week, across 9,788 covered jobs. Source: US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
How much SBA lending happens in Nobles County?
4 7(a) approvals totalling $735,000 since FY2020, across 2 lenders, with a median approval of $150,000, plus 18 504 approvals worth $9.9 m. These are approvals recorded in the release, not loans disbursed.
What is being built in Nobles County?
18 housing units were authorised by permit in 2024, with a declared construction value of $5.6 m. Multifamily was 11.1 percent of units. Source: US Census Bureau, Building Permits Survey, 2024 annual.
What is the radon zone for Nobles 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 Nobles County come from?
The largest single origin is Nobles County Non-migrants, with 8,114 households. Arriving households report an average income of $49,409 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 Nobles 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 Nobles 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.