Waseca County, Minnesota: commercial real estate data.
Waseca County, Minnesota has a population of 18,885 across 423 square miles, down 1.4 percent since the 2020 census base. County output reached $1.26 bn in 2024, 426 establishments operate here, and the SBA record carries 25 7(a) approvals worth $8.9 m.
120 sourced county values · tier FULL · 11 sections
Waseca County
How many people live in Waseca County
- Population18,885
- Households7,477
- Average household size2.53
- Median household income$76,261
- Median age40.6
- Median gross rent$883 per month
- Median owner-occupied home value$220,800
- Home value to household income2.9 times
- Annual rent as a share of median income13.9 percent
- Adults 25 and over with a bachelor degree or higher21.0 percent
- Adults 25 and over with a graduate degree5.0 percent
- Adults 25 and over13,064
- Population under 184,296
- Share under 1822.7 percent
- Population 65 and over3,614
- Share 65 and over19.1 percent
- Working age population, 18 to 6410,975
- Civilian labor force9,571
- Unemployment rate2.5 percent
- Labor force participation, adults 18 and over65.6 percent
- Rank by population among Minnesota counties50th of 87
- Rank by population among US county-equivalents1939th
Waseca County is the 50th largest of 87 Minnesota counties by population. A median home costs 2.9 times median household income, which is an affordable ownership market by national standards. Residents under 18 outnumber those 65 and over, at 22.7 percent against 19.1 percent, a household formation profile rather than a retirement one.
US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Waseca County
Is Waseca County growing
- Population change since the 2020 census base-1.42 percent
- Census 2020 base population18,954
- Births, 2024189
- Deaths, 2024209
- Natural change, 2024-20
- Net domestic migration, 2024-214
- Net international migration, 202415
- Total net migration, 2024-199
- Cumulative net domestic migration, 2021 to 2024-270
- Rank by growth among US county-equivalents2334th
The county has lost 1.42 percent of its population since the 2020 census base.
US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
Waseca County
Where people moving to Waseca County come from
- Tax returns filed by households arriving471
- People arriving, from those returns857
- Adjusted gross income arriving$25.6 m
- Net adjusted gross income movement$0
- Average income of an arriving household$54,386
- Largest single originWaseca County Non-migrants (7,386 households)
- Largest single destination (7,386 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Waseca County Non-migrants | 7,386 | 14,977 | $533.6 m |
| Other flows - Same State | 134 | 234 | $6.9 m |
| Other flows - Different State | 99 | 178 | $5.9 m |
| Blue Earth County | 77 | 143 | $5.6 m |
| Steele County | 68 | 116 | $3.0 m |
| Other flows - Midwest | 42 | 77 | $2.8 m |
| Rice County | 38 | 78 | $1.7 m |
| Other flows - South | 35 | 62 | $1.7 m |
The largest single source of arrivals is Waseca 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.
Waseca County
What the Waseca County economy runs on
- County GDP, 2024$1.26 bn
- County GDP, 2023$1.13 bn
- GDP change, 2023 to 202411.0 percent
- GDP change over five years68.3 percent
- Rank by GDP among Minnesota counties45th
- Rank by GDP among US county-equivalents1663rd
- GDP per resident$66,525
Output grew 11.0 percent in the latest year and 68.3 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.
Waseca County
Who employs people in Waseca County
- Covered employment, annual average5,530
- Establishments reporting552
- Average annual pay$54,072
- Average weekly wage$1,040
- Sector 31-33, employment868
- Sector 31-33, average annual pay$76,952
- Sector 44-45, employment561
- Sector 44-45, average annual pay$31,590
- Sector 72, employment396
- Sector 72, average annual pay$15,576
- Sector 23, employment252
- Sector 23, average annual pay$61,791
- Sector 42, employment191
- Sector 54, employment178
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Sector 31-33 | 868 | 20 | $76,952 |
| Sector 44-45 | 561 | 53 | $31,590 |
| Sector 72 | 396 | 46 | $15,576 |
| Sector 23 | 252 | 67 | $61,791 |
| Sector 42 | 191 | 19 | $71,898 |
| Sector 54 | 178 | 32 | $74,094 |
| Sector 52 | 164 | 34 | $72,413 |
| Sector 71 | 67 | 13 | $18,008 |
The largest sector is the biggest private employer group at 868 jobs, 15.7 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.
Waseca County
What businesses operate in Waseca County
- Establishments, all industries426
- Employment at those establishments4,108
- Annual payroll$213.7 m
- Establishments per 1,000 residents22.6
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.
Waseca County
What is being built in Waseca County
- Housing units authorised by permit, 202425
- Declared construction value permitted$7.3 m
- Single family units authorised25
- Multifamily units authorised0
- Multifamily share of units0.0 percent
- Average declared value per unit$292,567
- 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.
Waseca County
How much SBA lending happens in Waseca County
- 7(a) approvals recorded25
- 7(a) gross approval dollars$8.9 m
- Average 7(a) approval$354,504
- Median 7(a) approval$180,000
- 10th percentile approval$30,000
- 90th percentile approval$1,000,000
- Largest single approval$2,345,000
- Jobs reported supported, 7(a)99
- Jobs per approval4.0
- Distinct 7(a) lenders active11
- Distinct industries receiving approvals15
- Median 7(a) term120 months
- Share of loans on real estate terms, 240 months or longer24.0 percent
- Loans on real estate terms6
- Loans on working capital terms, 120 months or shorter17
- Franchise loans0
- Franchise share of approvals0.0 percent
- Leading industry by approval countGoat Farming (3)
- Most active lenderUnited Prairie Bank (12)
- 504 approvals recorded13
- 504 gross approval dollars$5.6 m
- Average 504 approval$428,615
- Median 504 approval$290,000
- Distinct CDCs active5
- 504 jobs per approval6.1
- 504 jobs per million dollars approved14.2
- Most active CDCMidwest Business Finance Corporation (5)
- 7(a) share of SBA approvals65.8 percent
- Combined SBA approval dollars$14.4 m
The average approval of $354,504 sits well above the median of $180,000, 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 24.0 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.
Waseca County
Do SBA loans in Waseca County get paid back
- Loans with a final outcome recorded13
- Paid in full13
- Charged off0
- Charge off rate on resolved loans0.0 percent
- Status: Cancelled3
- Status: Paid in full13
- Status: Exempt from disclosure9
Of the 13 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.
Waseca County
Which parts of Waseca County get the lending
- Places in the county with recorded lending5
- Waseca, approvals17
- WATERVILLE, approvals3
- NEW RICHLAND, approvals3
- JANESVILLE, approvals1
- WALDORF, approvals1
| Place | Approvals | Gross approval dollars |
|---|---|---|
| Waseca | 17 | $3,888,400 |
| WATERVILLE | 3 | $1,660,000 |
| NEW RICHLAND | 3 | $2,945,000 |
| JANESVILLE | 1 | $344,200 |
| WALDORF | 1 | $25,000 |
Waseca accounts for 17 approvals against 3 in WATERVILLE. 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.
Waseca County
How big is Waseca County
- Land area423 sq mi
- Rank by land area among Minnesota counties80th of 87
- Width, east to west18 mi
- Height, north to south24.1 mi
- Geographies sharing a boundary6
- Residents per square mile of land45
- Establishments per square mile1.01
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 Waseca 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 Waseca County site starts with the figures you are reading, carrying the same source and period into the credit file.
- Population18,885
- Households7,477
- Average household size2.53
- Median household income$76,261
- Median age40.6
Common questions
Waseca County questions, answered from the record.
How many people live in Waseca County, Minnesota?
18,885, in 7,477 households, ranking 50th of 87 Minnesota counties. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Is Waseca County growing?
The population has fallen 1.42 percent since the 2020 census base. In 2024 there were 189 births against 209 deaths, with net migration of -199. Source: US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
What is the median household income in Waseca County?
$76,261. The median owner-occupied home is valued at $220,800, which is 2.9 times income, and median gross rent is $883 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
How many businesses are there in Waseca County?
426 establishments, employing 4,108 people with an annual payroll of $213.7 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 Waseca County?
Average annual pay is $54,072, or $1,040 a week, across 5,530 covered jobs. Source: US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
How much SBA lending happens in Waseca County?
25 7(a) approvals totalling $8.9 m since FY2020, across 11 lenders, with a median approval of $180,000, plus 13 504 approvals worth $5.6 m. These are approvals recorded in the release, not loans disbursed.
Do SBA loans in Waseca County get paid back?
Of the 13 loans that have reached a final outcome, 13 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 Waseca County?
25 housing units were authorised by permit in 2024, with a declared construction value of $7.3 m. Multifamily was 0.0 percent of units. Source: US Census Bureau, Building Permits Survey, 2024 annual.
What is the radon zone for Waseca 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 Waseca County come from?
The largest single origin is Waseca County Non-migrants, with 7,386 households. Arriving households report an average income of $54,386 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 Waseca 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 Waseca 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.