Olmsted County, Minnesota: commercial real estate data.
Olmsted County, Minnesota has a population of 164,498 across 653 square miles, up 2.2 percent since the 2020 census base. County output reached $15.73 bn in 2024, 3,754 establishments operate here, and the SBA record carries 125 7(a) approvals worth $78.8 m.
123 sourced county values · tier FULL · 11 sections
Olmsted County
How many people live in Olmsted County
- Population164,498
- Households66,918
- Average household size2.46
- Median household income$95,406
- Median age37.8
- Median gross rent$1,370 per month
- Median owner-occupied home value$331,700
- Home value to household income3.5 times
- Annual rent as a share of median income17.2 percent
- Adults 25 and over with a bachelor degree or higher49.4 percent
- Adults 25 and over with a graduate degree21.5 percent
- Adults 25 and over111,919
- Population under 1839,364
- Share under 1823.9 percent
- Population 65 and over27,397
- Share 65 and over16.7 percent
- Working age population, 18 to 6497,737
- Civilian labor force90,559
- Unemployment rate3.6 percent
- Labor force participation, adults 18 and over72.4 percent
- Rank by population among Minnesota counties7th of 87
- Rank by population among US county-equivalents419th
Olmsted County is the 7th largest of 87 Minnesota counties by population. A median home costs 3.5 times median household income, which is an affordable ownership market by national standards. Residents under 18 outnumber those 65 and over, at 23.9 percent against 16.7 percent, a household formation profile rather than a retirement one.
US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Olmsted County
Is Olmsted County growing
- Population change since the 2020 census base2.20 percent
- Census 2020 base population162,849
- Births, 20241,976
- Deaths, 20241,337
- Natural change, 2024639
- Net domestic migration, 2024-500
- Net international migration, 20241,168
- Total net migration, 2024668
- Cumulative net domestic migration, 2021 to 2024-2,462
- Rank by growth among US county-equivalents1108th
The county has grown 2.20 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.
Olmsted County
Where people moving to Olmsted County come from
- Tax returns filed by households arriving4,623
- People arriving, from those returns7,459
- Adjusted gross income arriving$312.5 m
- Net adjusted gross income movement$0
- Average income of an arriving household$67,588
- Largest single originOlmsted County Non-migrants (65,438 households)
- Largest single destination (65,438 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Olmsted County Non-migrants | 65,438 | 133,494 | $6.90 bn |
| Other flows - Different State | 2,023 | 3,405 | $145.3 m |
| Other flows - Midwest | 799 | 1,310 | $55.8 m |
| Other flows - South | 582 | 1,039 | $41.7 m |
| Other flows - West | 418 | 701 | $30.3 m |
| Hennepin County | 277 | 414 | $21.6 m |
| Other flows - Same State | 262 | 419 | $20.0 m |
| Other flows - Northeast | 224 | 355 | $17.4 m |
The largest single source of arrivals is Olmsted 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.
Olmsted County
What the Olmsted County economy runs on
- County GDP, 2024$15.73 bn
- County GDP, 2023$14.81 bn
- GDP change, 2023 to 20246.2 percent
- GDP change over five years29.6 percent
- Rank by GDP among Minnesota counties6th
- Rank by GDP among US county-equivalents316th
- GDP per resident$95,618
Output grew 6.2 percent in the latest year and 29.6 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.
Olmsted County
Who employs people in Olmsted County
- Covered employment, annual average103,905
- Establishments reporting4,061
- Average annual pay$79,579
- Average weekly wage$1,530
- Sector 62, employment49,424
- Sector 62, average annual pay$100,517
- Sector 44-45, employment10,367
- Sector 44-45, average annual pay$37,182
- Sector 72, employment8,254
- Sector 72, average annual pay$28,825
- Sector 31-33, employment5,489
- Sector 31-33, average annual pay$112,514
- Sector 23, employment4,178
- Sector 56, employment3,985
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Sector 62 | 49,424 | 640 | $100,517 |
| Sector 44-45 | 10,367 | 495 | $37,182 |
| Sector 72 | 8,254 | 390 | $28,825 |
| Sector 31-33 | 5,489 | 103 | $112,514 |
| Sector 23 | 4,178 | 402 | $78,936 |
| Sector 56 | 3,985 | 188 | $70,670 |
| Sector 81 | 2,527 | 532 | $41,389 |
| Sector 54 | 1,684 | 324 | $94,474 |
The largest sector is the biggest private employer group at 49,424 jobs, 47.6 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.
Olmsted County
What businesses operate in Olmsted County
- Establishments, all industries3,754
- Employment at those establishments107,285
- Annual payroll$8.19 bn
- Establishments per 1,000 residents22.8
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.
Olmsted County
What is being built in Olmsted County
- Housing units authorised by permit, 20241,239
- Declared construction value permitted$295.2 m
- Single family units authorised314
- Multifamily units authorised925
- Multifamily share of units74.7 percent
- Average declared value per unit$238,225
- Units authorised per 1,000 households18.5
Multifamily is 74.7 percent of units authorised, so the pipeline is being built for renters rather than buyers.
US Census Bureau, Building Permits Survey, 2024 annual.
Olmsted County
How much SBA lending happens in Olmsted County
- 7(a) approvals recorded125
- 7(a) gross approval dollars$78.8 m
- Average 7(a) approval$630,263
- Median 7(a) approval$328,500
- 10th percentile approval$40,000
- 90th percentile approval$1,946,300
- Largest single approval$4,150,000
- Jobs reported supported, 7(a)1,929
- Jobs per approval15.4
- Distinct 7(a) lenders active37
- Distinct industries receiving approvals67
- Median 7(a) term120 months
- Share of loans on real estate terms, 240 months or longer13.6 percent
- Loans on real estate terms17
- Loans on working capital terms, 120 months or shorter89
- Franchise loans18
- Franchise share of approvals14.4 percent
- Leading industry by approval countOffices of Chiropractors (8)
- Most active lenderAlerus Financial, National Association (16)
- 504 approvals recorded88
- 504 gross approval dollars$60.7 m
- Average 504 approval$689,841
- Median 504 approval$497,000
- Distinct CDCs active6
- 504 jobs per approval8.8
- 504 jobs per million dollars approved12.7
- Most active CDCSoutheastern Minnesota 504 Development Corporation (67)
- 7(a) share of SBA approvals58.7 percent
- Combined SBA approval dollars$139.5 m
The average approval of $630,263 sits well above the median of $328,500, 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 13.6 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.
Olmsted County
Do SBA loans in Olmsted County get paid back
- Loans with a final outcome recorded33
- Paid in full27
- Charged off6
- Charge off rate on resolved loans18.2 percent
- Status: Cancelled7
- Status: Paid in full27
- Status: Exempt from disclosure72
- Status: Charged off6
- Status: Committed, not yet disbursed13
Of the 33 loans that have reached a final outcome, 18.2 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.
Olmsted County
Which parts of Olmsted County get the lending
- Places in the county with recorded lending8
- ROCHESTER, approvals96
- STEWARTVILLE, approvals9
- BYRON, approvals7
- ORONOCO, approvals5
- DOVER, approvals3
- EYOTA, approvals2
| Place | Approvals | Gross approval dollars |
|---|---|---|
| ROCHESTER | 96 | $60,274,700 |
| STEWARTVILLE | 9 | $4,795,000 |
| BYRON | 7 | $9,434,600 |
| ORONOCO | 5 | $906,600 |
| DOVER | 3 | $556,000 |
| EYOTA | 2 | $2,145,000 |
| Kasson | 2 | $326,400 |
| Eden Prairie | 1 | $344,600 |
ROCHESTER accounts for 96 approvals against 9 in STEWARTVILLE. 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.
Olmsted County
How big is Olmsted County
- Land area653 sq mi
- Rank by land area among Minnesota counties46th of 87
- Width, east to west30.4 mi
- Height, north to south25 mi
- Geographies sharing a boundary6
- Residents per square mile of land252
- Establishments per square mile5.75
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 Olmsted 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 Olmsted County site starts with the figures you are reading, carrying the same source and period into the credit file.
- Population164,498
- Households66,918
- Average household size2.46
- Median household income$95,406
- Median age37.8
Common questions
Olmsted County questions, answered from the record.
How many people live in Olmsted County, Minnesota?
164,498, in 66,918 households, ranking 7th of 87 Minnesota counties. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Is Olmsted County growing?
The population has grown 2.20 percent since the 2020 census base. In 2024 there were 1,976 births against 1,337 deaths, with net migration of 668. Source: US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
What is the median household income in Olmsted County?
$95,406. The median owner-occupied home is valued at $331,700, which is 3.5 times income, and median gross rent is $1,370 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
How many businesses are there in Olmsted County?
3,754 establishments, employing 107,285 people with an annual payroll of $8.19 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 Olmsted County?
Average annual pay is $79,579, or $1,530 a week, across 103,905 covered jobs. Source: US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
How much SBA lending happens in Olmsted County?
125 7(a) approvals totalling $78.8 m since FY2020, across 37 lenders, with a median approval of $328,500, plus 88 504 approvals worth $60.7 m. These are approvals recorded in the release, not loans disbursed.
Do SBA loans in Olmsted County get paid back?
Of the 33 loans that have reached a final outcome, 27 were paid in full and 6 charged off, a charge off rate of 18.2 percent. Loans still running are excluded, because they have not yet succeeded or failed.
What is being built in Olmsted County?
1,239 housing units were authorised by permit in 2024, with a declared construction value of $295.2 m. Multifamily was 74.7 percent of units. Source: US Census Bureau, Building Permits Survey, 2024 annual.
What is the radon zone for Olmsted 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 Olmsted County come from?
The largest single origin is Olmsted County Non-migrants, with 65,438 households. Arriving households report an average income of $67,588 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 Olmsted 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 Olmsted 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.